roulette house edge?
January 27th, 2010 at 11:47:54 PM
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im no math whiz so ill ask the wizard. thaks in advanced. i hope this is not asked frequently.
when beting on one number there is a 1/38 of hiting
whe splitting a number there is a 2/38 of hitting
since if you place $1 on a number and hit you get $35
if you place $2 split and hit you will recieve $34
why do thse bets have the same house edge?
thanks for any replies
when beting on one number there is a 1/38 of hiting
whe splitting a number there is a 2/38 of hitting
since if you place $1 on a number and hit you get $35
if you place $2 split and hit you will recieve $34
why do thse bets have the same house edge?
thanks for any replies
January 27th, 2010 at 11:57:09 PM
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For simplicity's sake, consider a $1 bet on each type:
The straight bet has a 37/38 chance of losing $1 and a 1/38 chance of winning $35. The return is therefore (35/38) - (37/38) = -0.05263, for a house edge of 5.263%.
A split bet has a 36/38 chance of losing $1 and a 2/38 chance of winning $17. The return is therefore (34/38) - (36/38) = -0.05263, also for a house edge of 5.263%.
The straight bet has a 37/38 chance of losing $1 and a 1/38 chance of winning $35. The return is therefore (35/38) - (37/38) = -0.05263, for a house edge of 5.263%.
A split bet has a 36/38 chance of losing $1 and a 2/38 chance of winning $17. The return is therefore (34/38) - (36/38) = -0.05263, also for a house edge of 5.263%.
January 28th, 2010 at 12:31:00 AM
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thanks for that explination
what is the term for the aforementioned situation. How do i put into words why you would not want to split in that situation.
what is the term for the aforementioned situation. How do i put into words why you would not want to split in that situation.
January 28th, 2010 at 12:43:45 AM
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Quote: jpprovancewhat is the term for the aforementioned situation. How do i put into words why you would not want to split in that situation.
I'm not sure what you are asking. If you're going to play roulette at all, it doesn't matter which bet you choose because they are both equally bad.
January 28th, 2010 at 2:25:31 AM
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Quote: JBOr ofcourse one could say that each bet is equally good.Quote: jpprovanceIf you're going to play roulette at all, it doesn't matter which bet you choose because they are both equally bad.
Roulette offers one advantage to me: its rather easy to remember 5.26percent as the house edge. Its a rather steep one but, I believe, far less than most slot machines. It is substantially greater than the 1.414 house edge at craps and about the same as the Field Bet at most craps tables.
Its about the worst as I would ever want to go in a casino. The one advantage is that with all the bets at 5.26percent, I need not have any hesitation. Its a way of selecting Variance. I need only consider the various minimum bets and its my choice as to which 5.26percent risk I want to take. I generally confine myself to the outside bets. Usually a combination of the 1:1 and 2:1 bets are my favorite, but I'll often do a split number two-way bet for my companion and the dealer when I leave the table. Inside bets seem to be a way to burn thru money real fast, whereas the outside bets give me a little time before the bankroll is gone.
The simple convenience of knowing just about each bet is 5.26percent against me makes it less confusing or worrisome to me.
So "equally bad"? Yes. Thats true, but I'm in the casino to engage in making bets and most people who run casinos generally offer bets that bad for the player. So while 5.26 may be my limit, atleast I'm not sitting at a slot machine where the term "bad bet" is surely applicable.
January 28th, 2010 at 4:59:52 AM
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I like to explain Roulette, and particularly why splits are equal to straight up bets, in simpler terms. (And I thank my brother for using this exact same expaination a few years ago when he explained it to me.)
Say you put $1 each on two neighboring numbers and one of them hits. The loser is lost, the winner pays $35, and the winning bet stays up. If you then took down that bet, you'd have $36 from your $2 starting amount.
If you instead put $2 on the split, you'd be paid 17:1 or $34 and your bet stays up. If you took down the bet, you'd again have $36 from your $2 original amount.
It's the same thing.
The same logic applies to $1 on all three numbers in a row, or $3 on the row. Ditto for $1 on four numbers or $4 on the corner, etc.
I know what you're thinking: What if you only put $1 on the split? It would be the same as putting 50¢ on those two numbers - except the casino doesn't let you do that.
The only combination bet where it doesn't work is the 0/00/1/2/3 bet. It doesn't divide properly, so the edge on that is higher.
Say you put $1 each on two neighboring numbers and one of them hits. The loser is lost, the winner pays $35, and the winning bet stays up. If you then took down that bet, you'd have $36 from your $2 starting amount.
If you instead put $2 on the split, you'd be paid 17:1 or $34 and your bet stays up. If you took down the bet, you'd again have $36 from your $2 original amount.
It's the same thing.
The same logic applies to $1 on all three numbers in a row, or $3 on the row. Ditto for $1 on four numbers or $4 on the corner, etc.
I know what you're thinking: What if you only put $1 on the split? It would be the same as putting 50¢ on those two numbers - except the casino doesn't let you do that.
The only combination bet where it doesn't work is the 0/00/1/2/3 bet. It doesn't divide properly, so the edge on that is higher.
I invented a few casino games. Info:
http://www.DaveMillerGaming.com/ —————————————————————————————————————
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January 28th, 2010 at 7:49:22 AM
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5.26% for Roulette is pretty much the worst table game out there (along with Caribbean Stud). Slot machines at the $.25 denomination or higher are around 5% or less, and most video poker machines are under 5%.
If there is any silver lining for roulette, it is (1) the single zero and (2) the number of spins per hour at around 30, so at a $10 table, your expected loss is $15.78. Slot losses at 5% can be much higher because the spins are alot higher.
If there is any silver lining for roulette, it is (1) the single zero and (2) the number of spins per hour at around 30, so at a $10 table, your expected loss is $15.78. Slot losses at 5% can be much higher because the spins are alot higher.
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January 29th, 2010 at 12:14:24 AM
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Quote: jpprovanceim no math whiz so ill ask the wizard. thaks in advanced. i hope this is not asked frequently.
when beting on one number there is a 1/38 of hiting
whe splitting a number there is a 2/38 of hitting
since if you place $1 on a number and hit you get $35
if you place $2 split and hit you will recieve $34
why do thse bets have the same house edge?
thanks for any replies
i took me a while to realize they are the same because i wasnt counting the chips left on the table.
straight up pays $35 win +$1 on the table = 36
split pays $34 win +$2 on the table = 36
my error is pretty stupid. kinda funny tho that nobody got what i was asking.
