Mathematical formula

Hello everybody!
So I was thinking that there should be a mathematical formula to calculate the most profitable payouts for a given game right? I'm guessing it should involve the odds you've got for a certain event happening and the wanted house edge but I'm just not sure how to fit this together... Does it has something to do with how much a player must pay to pay the game?
Not sure.... any help is very much appreciated! ;)

It depends on what you mean by "most profitable payouts" and "wanted house edge".

Can you give us an example of what you are trying to figure out - e.g. is it something like "what bets do I have to make to have the lowest house edge in blackjack"?

It sounds like it's a probability problem, but in most cases, the hard part is having to work out every possible combination of bets.

I think the tool is called "Excel" or spreadsheet.

The hard part is to determine the probability of each event.

Once you have those, it's easy to use Excel to devise a spreadsheet where you can plug in payouts and determine the house edge.

Once that's done, it's a simple matter to tweak the payouts to achieve a desired house edge.

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