It may seem that an average casino is operating at a loss. In most countries, a better part of revenue of gambling houses is taxed from 75% to 90% (75% in Russia and 90% in the United States). In addition, considerable amounts of money are spent on on staff salaries and maintenance of the house. As a rule, the above average establishments offered free drinks and light snacks to their guests, while those spending or winning a certain amount are granted a free night in partner hotel. So how do they generate cash?
Casino games give their owners an advantage due to the difference between the expectation and the assigned rate, and the greater the number of games played, the higher the profit. Consider the case of roulette: in the European version of the game the house edge is 2.7% (in the American variant with an extra zero the number equals 5.26%). If a player bets on red $100 in 37 games, his theoretical loss will be $100, since the probability of zero is at least close to one. It is pretty clear that in a real game, everything could happen differently, but these values - theoretical and actual losses – converge with the number of games, and this is manifested in mathematical house edge. Here’s how to calculate the gambling house advantage for the European roulette with one zero: deduct 36 (payout) from 37 (the number of cells) and you’ll get 1 (casino profit). To determine the house edge, divide 1 by 37 and multiply by 100% (1/37 x 100% = 2.7%).
A known law of large numbers, according to which the more we play the game of chance, the more predictable the total result is, works flawlessly and has a particular mathematical basis, which underlies the return to owners of casinos and slot machines. In the early days of gaming due to random fluctuations the casino could have suffered the losses, but by the end of the day, weekor month, when thousands of games are be played, the law take its course and leave the desired part of the the money in the pocket of the owner. Usually casino succeeds even more than expected by mathematicians, oftentimes due to rookie players. The exception to the general rule is obvious in blackjack and poker – this is where a skillful player may get the advantage.
It would be fair to say that online establishments that online casinos are characterized by more moderate appetites in terms of revenue. Online gambling houses still have considerable operational expenses, though they also invest in development of their gaming hubs; thus, you may want to check a decent example of online casino mit startguthaben.
The algorithm of luck
If mathematics helps casino owners, they assist players, right? This question is asked a lot, but never answered comprehensively. The great French scientist Blaise Pascal in the seventeenth century, analyzing the rules of the game of dice, laid the foundations of probability theory. Another scholar, the Swiss Jakob Bernoulli, also puzzled over this issue and proved the theorem of large numbers. In 1928, another mathematical genius, Janos von Neumann wrote a book dedicated to the best poker strategy (however, he used to end up as a loser in card games). Learning maths is certainly helpful, though it is far from being a panacea.Read more