Casino Theoretical Win Equation Generator

Theoretical win and the standard deviations of expected value have been widely covered in numerous articles. Unfortunately for me, the discussion on the topic has seldom been comprehensive enough to be understood by the layperson (meaning me). This post attempts to explain the issue in the simplest possible way. Why is this important? Theoretical win is derived from the probabilities built into any casino game. As all casino games are designed (in theory) to guarantee a return to the casino, the theoretical win (winnings for the player) is always negative while the expected value, also known as expectation (winnings for the casino) is always positive. However, like with all probabilities, an element of randomness exists. The standard deviation of theoretical win thus provides a threshold for casino managers to decide if play has passed the limit where it becomes suspect. Theoretical Win and Expected Value The average of results is determined by the theoretical win formula. Hence, 50% of all

• Over every six trials, the probability is that you’ll win five bets and lose one bet. You win $5 and lose $4 for a net win of $1 for every 6 bets. $1 divided by six bets is 16.67 cents. Your house edge is 16.67% for this game.
• Assume we offer lottery 2 and sell 500,000 tickets. Thus, the total amount wagered is $500,000. We know that exactly 90% of the tickets are winning tickets. So, based on knowing the house edge, we expect the players to win approximately 90% of $500,000, or about $450,000. The state has a theoretical win of $50,000 to purchase shoes for the kids.

Casino Theoretical Win Equations

Casino: Non-Rolling Chip Table Games Drop: Slot Machine: Casino Games: Non-Rolling Chip Volume: Slot machine win per unit per day: Drop: Number of Rooms: Table Games: Fills: Paiza Cash: Table games win per unit per day: Integrated Resort: Pit Boss: Timeshare or Vacation Exchange: Marker Casino: Premium Player: Vacation Exchange and Rental. Just multiply.54 x 17 and you will get 9.18, which represents the casino’s theoretical win rate for that machine - 9.18%. Then, deduct 9.18 from 100 and you get 90.82 which would represent the casino’s theoretical payback percentage for that particular machine - 90.82%. A win rate is a casino's win divided by turnover. Analysts use a 'theoretical' win rate to estimate future earnings and compare performance. Echo's theoretical win rate is about 1.6 - one of the highest in the industry - whereas Crown and SkyCity use a rate of about 1.35.