Dobrij
Joined: Jun 6, 2012
• Posts: 162
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March 16th, 2022 at 5:50:54 AM permalink
Quote: FrankReynolds

Set the maximum stakes. For any game with more than two outcomes

I do it like this:

1. Using the ROR & SD calculation formula
2. Creating game simulations
Dieter
Joined: Jul 23, 2014
• Posts: 3322
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March 16th, 2022 at 5:52:36 AM permalink
I think you may have to evaluate the various prizes individually, but I'd start at the top prize and work my way down.
May the cards fall in your favor.
FrankReynolds
Joined: Jan 14, 2020
• Posts: 6
March 16th, 2022 at 5:59:22 AM permalink
Thank you. I'm not that good with math and it's not that important. What i don't get is the fact that there are countless simulators/calculators for two outcome games and none (i couldn't fine one) for more than two outcomes. I expected there to be some at least for craps or roulette
Wizard
Joined: Oct 14, 2009
• Posts: 24475
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March 16th, 2022 at 6:38:11 AM permalink
Quote: FrankReynolds

Thank you, but that is not what I'm asking. I should have been more clear about what i need:

Let's say I'm a casino owner and i only offer one game of slots. And i have only 100K available as a bankroll. How would i calculate if 100K is enough for the game? How would i set max bets for the clients in order to avoid going bust?? I think the concept is called Risk Of Ruin but all i could find were formulas and calculators for binomial results, which are not good for slots

As a former actuary, this is the kind of thing I think I could help with. However, I would expect to be paid a professional fee for my time.
It's not whether you win or lose; it's whether or not you had a good bet.
FrankReynolds
Joined: Jan 14, 2020
• Posts: 6
March 16th, 2022 at 6:43:17 AM permalink
Oh, the grandmaster himself ;) I appreciate the offer but unfortunately it's not going to happen. Mostly because it's not that important and because I'm from a poor country. No way i could meet your fee rate ;)

Quote: Wizard

Quote: FrankReynolds

Thank you, but that is not what I'm asking. I should have been more clear about what i need:

Let's say I'm a casino owner and i only offer one game of slots. And i have only 100K available as a bankroll. How would i calculate if 100K is enough for the game? How would i set max bets for the clients in order to avoid going bust?? I think the concept is called Risk Of Ruin but all i could find were formulas and calculators for binomial results, which are not good for slots