nezbit
nezbit
Joined: Apr 1, 2013
  • Threads: 6
  • Posts: 179
April 1st, 2013 at 1:52:10 PM permalink
So, im poking around and am a little confused. maybe someone can explain this to me.

The probability of a banker win, given that there wasn’t a tie, is 0.506788499 and the probability of a player win is 0.493211501

So at what commission rate would house take for banker and player to be completely equal bets?



here is percentage i came up with 5.358054%, is this correct?

.4932115 / .5067885 = .9732097314 ---> 1 - .9732097314 = .0267902686 or 2.67902686% of total bet which equal 5.358054% of just winnings.


does this is return mean that banker has a 0.358054% edge over the player?

so every $100 wagered you can expect to lose about 36cents less on banker over player?

this may sound dumb but if you were wagering $20 a hand for 5 hands ($100 wagered) dont you think the time it takes to exchange quarters and what not is worth more in the time value of money than just 36 cents?

I mean if your time is worth $50/hr to you and im sure some of the high stakes players is worth ALOT more than this, then this means $50/hr = 83.3cents a minute, if everyone one at the table is betting banker and it takes him an extra minute to chuck out the quarters and make change then technically you would be losing more money on your value of time betting banker. 36cents - 83.3cents = -47.3

I calculated that if your time is worth $21.48/hr exactly 1 minute to make change on a full table betting banker then it costs 36cents a minute meaning you have wiped out the house edge and are sitting even.

Maybe im out of my mind but does this make sense at all? Im sure dealers count change waaaaaaay faster than this, but is there a number? is any of this valid or am i complete tard? what if you time was worth $10,000 an hour? maybe dealer counts change in 5 seconds...? could probably work out a lot of hypothetical numbers here.


maybe someone can work this out. since this post is dragging on getting a little long. Say that if you bet bank you lose 5 seconds of your time while dealer makes change. if banker holds a 36cent edge over player bets then what must your time value of money be for the 2 bets to be equal?

thanks
nezbit

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