House Edge Question
In another forum, i read that I have a choice of a "liberal" payout or a "stingy" payout. The liberal payout has a house edge of 3.7%.
The stingy version, the players win if the total is 3-7 and 13-18. It pays 1:1 and there is no "pays double" on the 3 or 18. The house wins if the numbers total 7-12. The house edge here, according to the author, is 15.74%.
Since I control how the layout is made and how much I/we want the house edge to be, I am thinking out making the field bet this way... Players win on total of 3-7 and 14-18. House wins on total of 8-13. That's 10 winners for the players and 5 winners for the house. To offset the house now including the number 13, the house would pay triple on any 3 or 18, just like how a 2 or 12 get paid double on a field bet in craps.
Based on the scenario I just described, can somebody tell me what the house edge comes out to?
Be kind. it's for a charity.
Thanks
| Sum | Ways | Probability | Pays | EV |
|---|---|---|---|---|
| 3 | 1 | 0.00462962962963 | 3 | 0.013888888888889 |
| 4 | 3 | 0.013888888888889 | 1 | 0.013888888888889 |
| 5 | 6 | 0.027777777777778 | 1 | 0.027777777777778 |
| 6 | 10 | 0.046296296296296 | 1 | 0.046296296296296 |
| 7 | 15 | 0.069444444444444 | 1 | 0.069444444444444 |
| 8 | 21 | 0.097222222222222 | -1 | -0.097222222222222 |
| 9 | 25 | 0.115740740740741 | -1 | -0.115740740740741 |
| 10 | 27 | 0.125 | -1 | -0.125 |
| 11 | 27 | 0.125 | -1 | -0.125 |
| 12 | 25 | 0.115740740740741 | -1 | -0.115740740740741 |
| 13 | 21 | 0.097222222222222 | -1 | -0.097222222222222 |
| 14 | 15 | 0.069444444444444 | 1 | 0.069444444444444 |
| 15 | 10 | 0.046296296296296 | 1 | 0.046296296296296 |
| 16 | 6 | 0.027777777777778 | 1 | 0.027777777777778 |
| 17 | 3 | 0.013888888888889 | 1 | 0.013888888888889 |
| 18 | 1 | 0.00462962962963 | 3 | 0.013888888888889 |
| Total | 216 | 1 | -0.333333333333333 |
would it change if I paid 2:1 on the 3 and 18?
Quote: Rivawow.. I like that! 33.3% house edge
would it change if I paid 2:1 on the 3 and 18?
Any time you change payouts the house edge has to change.
It would up it to 34.26%. The 3 to 1 payouts mean very little for this bet because a 3 or 18 only shows up 1 in 108.
Quote: tringlomaneAny time you change payouts the house edge has to change.
It would up it to 34.26%. The 3 to 1 payouts mean very little for this bet because a 3 or 18 only shows up 1 in 108.
Your right. Thanks.
My numbers were wrong in the original post. I stated that there were 10 winning and 5 for the house. If I swipe the 13 for the house that's 6. Players might puke on that.
Wondering what the numbers look like if players win on 3-7 and 13-18, with 3 and 18 paying triple.
Thanks to all for the help.
Quote: RivaWondering what the numbers look like if players win on 3-7 and 13-18, with 3 and 18 paying triple.
Thanks to all for the help.
13.89%, and yeah, you need to let players win on 7 and 13, otherwise it will just slaughter them.
Quote: tringlomane13.89%, and yeah, you need to let players win on 7 and 13, otherwise it will just slaughter them.
you mean it goes all the way down from 34% house edge to 13.89% just by giving back the 13?
Do you have a program that does these calculations. That way I don't have to keep asking you guys for this stuff.
Quote: Rivayou mean it goes all the way down from 34% house edge to 13.89% just by giving back the 13?
Do you have a program that does these calculations. That way I don't have to keep asking you guys for this stuff.
Yeah, 13 shows up 9.72% of the time. Turning that from a loss to a win makes a 2 x 9.72% = 19.44% swing.
I just copied miplet's table and put it into a spreadsheet and used the formula probability x pays for the EV column and summed the EV column for the house edge.
Quote: tringlomaneYeah, 13 shows up 9.72% of the time. Turning that from a loss to a win makes a 2 x 9.72% = 19.44% swing.
I just copied miplet's table and put it into a spreadsheet and used the formula probability x pays for the EV column and summed the EV column for the house edge.
Our players know that the money goes to a charity so, I'm going to keep the 13 for the house and bump up the 3 and 18 to 5x.
On roulette, we shave payouts by 33% on average. Again, the players don't mind.
