Equivalency Question
For example I usually sit at a $100 minimum table with a house edge of 0.28507% (6 deck) or 0.25532% (2 deck). Today I wanted to play $60 a hand instead so I sat at a $25 minimum table but soon after realized the house edge on the table was 1.84232%. I moved to the lower limit table cause I thought I'd be saving money but realized that may not be the case.
So basically what I want to know is:
Sitting at a 0.28507% house edge table (or 0.25532% table) with a $100 per hand wager is equivalent to playing at a 1.84232% house edge table with what wager?
$100 * 0.0026 * 60 = $15.6 expected loss an hour
$15.6 = 60 * 0.018 * X ...you should wager $14.4 a hand.
Anything wrong with my math? I'm a bit buzzed. Hopefully I got it right.
Quote: SiegfriedRoyAssuming you play 60 hands an hour for both
$100 * 0.0026 * 60 = $15.6 expected loss an hour
$15.6 = 60 * 0.018 * X ...you should wager $14.4 a hand.
Anything wrong with my math? I'm a bit buzzed. Hopefully I got it right.
I got the same answer. I wish I was buzzed. lol...
FWIW, looking at it a different way, playing at that second table for $60 you should expect to lose $64.80/hr, or over 4x as much as at the $100 min table.
Quote: beachbumbabsI got the same answer. I wish I was buzzed. lol...
BBB...you crack me up. I agree that you should pay at the 100 table and get better rating.
^^^ What he said :o) ^^^Quote: IbeatyouracesDon't ever play a 6:5 game no matter what limit!!!
Now I'm wondering how to calculate other games. Like Casino War (2.33%) and Let It Ride (3.51% - my first time playing today).
I'll use verbal algebra
the size of your bet times the house edge gives you the cost of your bet on average
now you know the cost of your bet
If you want to have the same size cost per bet on another game you know the edge for, but need to know the size of the bet to make, then ...
take the cost of your bet from game one and divide it by the new house edge
so, to review, in the one case take the knowns and multiply
in the second case take the knowns and divide
you can immediately do a double-check back and forth to be sure you are right
_
normal algebra with EV and HE used as symbols:
EV= bet * HE
bet= EV/HE
Quote: HotBlondeThanks guys.
Now I'm wondering how to calculate other games. Like Casino War (2.33%) and Let It Ride (3.51% - my first time playing today).
War is a fast game so even though house edge is lower than LIR you will probably play 2-3x as many hands per hour.
Quote: odiousgambityou should always be able to make this calculation with simple algebra
I'll use verbal algebra
the size of your bet times the house edge gives you the cost of your bet on average
now you know the cost of your bet
If you want to have the same size cost per bet on another game you know the edge for, but need to know the size of the bet to make, then ...
take the cost of your bet from game one and divide it by the new house edge
so, to review, in the one case take the knowns and multiply
in the second case take the knowns and divide
you can immediately do a double-check back and forth to be sure you are right
_
normal algebra with EV and HE used as symbols:
EV= bet * HE
bet= EV/HE
Not sure I understand the second part.
Quote: HunterhillWar is a fast game so even though house edge is lower than LIR you will probably play 2-3x as many hands per hour.
Good point.
Quote: odiousgambitin the second case take the knowns and divide
maybe this is the part you don't get?
HB, I know you can do this. Let's take very simple examples
Let's say you bet that $100 on a 5% edge game. Multiply. Your cost is $5
Let's say you only knew the 5% edge and wanted your cost to be $5, but didn't know how much to bet. You were especially asking that. Well, divide instead of multiply. Remember, we pretend you don't know it is $100 so that is out of the picture. $5 divided by 5% is $100. Use a calculator with a % function, or just 5/0.05 on a calculator.
Let's say you got confused and instead divided 0.05 by 5. You'd get a nonsense answer of one cent, so you'd know it was wrong.
Say you did it right and got $100, but wanted to double-check. $100 times 5% is $5. So that double check means you got it right.
Hope that helps.
Quote: odiousgambitmaybe this is the part you don't get?
HB, I know you can do this. Let's take very simple examples
Let's say you bet that $100 on a 5% edge game. Multiply. Your cost is $5
Let's say you only knew the 5% edge and wanted your cost to be $5, but didn't know how much to bet. You were especially asking that. Well, divide instead of multiply. Remember, we pretend you don't know it is $100 so that is out of the picture. $5 divided by 5% is $100. Use a calculator with a % function, or just 5/0.05 on a calculator.
Let's say you got confused and instead divided 0.05 by 5. You'd get a nonsense answer of one cent, so you'd know it was wrong.
Say you did it right and got $100, but wanted to double-check. $100 times 5% is $5. So that double check means you got it right.
Hope that helps.
I thought you were talking about comparing two different games. That's what I was talking about.
Quote: HotBlondeI thought you were talking about comparing two different games. That's what I was talking about.
OK, 2 different games and in view of your original question
but simple examples
you play one game and know the HE. $100 bet and 1% HE. Multiply: it is a $1 cost per hand.
you see another game with 2% HE. You want your cost to be the same per hand. A case of different knowns.
divide this time. Try 2% divided by $1, well you get 2 cents. Clearly wrong answer.
So we try $1 divided by 2% and we get 50. Might be right answer?
double check: $50 times 2% = $1 . Yay, it works! Bet $50 per bet in that other game and your cost is the same.
