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General Betting on a coin toss....

June

Member
Messages
200
Here is a great example of the uses of math in gambling. If you aren't good at it, you will never win!

George has created a low-rent casino game based on flipping a coin. If the coin lands heads-up, the player wins the coin. If the coin lands tails-side up, the player loses the coin. The player has to make an ante bet in order to play. This ante bet is 10% of the size of the original bet. What is the house’s edge over the player in this situation?

Answer:

Half the time the casino wins a unit; the other half the time the player wins a unit. 100% of the time, the casino wins 10% of a unit. This makes the casino’s edge in this game exactly 10%.

Check out this article for more. https://www.gamblingsites.com/info/gambling-mathematics/
 

zephyr 12

Member
Messages
241
Maybe I have always looked at the house edge as something more than just a gimme like that, but I do like that site you linked up. Thank you for that.
 

lordcole

Member
Messages
302
I remember flipping coins with my siblings when we were young and this makes me want to check out this casino. I've not heard of this before so it must be a new concept?
 
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