Flop poker guide including rules, strategy, pay table, and house edge. Learn more about easy to learn game that features unique pot bet with zero house edge.
Most of these games are crude and simple but still playable, and many include an important feature: With over 19 years and columns, this column covers close to 2, questions asked and answered.
This page contains podcasts of the Gambling with an Edge show during my one-year term as co-host and return visits. These sites are hand picked by our editors due to their quality, utility, and reputation as good sources of accurate information.
Here we have analyzed the odds and rules of the various games provided from different online casino software providers.
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The Wizard of Odds. Game Calculators Odds and Strategies calculated based on your input. For example if a player knows the house edge in blackjack is 0.
Most players are not going to know how much their average wager will be in games like blackjack relative to the original wager, thus any statistic based on the average wager would be difficult to apply to real life questions.
The conventional definition can be helpful for players determine how much it will cost them to play, given the information they already know.
However the statistic is very biased as a measure of risk. In Caribbean stud poker, for example, the house edge is 5.
However the ratio of average money lost to average money wagered in Caribbean stud is only 2. The player only looking at the house edge may be indifferent between roulette and Caribbean stud poker, based only the house edge.
If one wants to compare one game against another I believe it is better to look at the ratio of money lost to money wagered, which would show Caribbean stud poker to be a much better gamble than roulette.
I personally opt to include ties although I respect the other definition. For purposes of comparing one game to another I would like to propose a different measurement of risk, which I call the "element of risk.
For bets in which the initial bet is always the final bet there would be no difference between this statistic and the house edge.
Bets in which there is a difference are listed below. The standard deviation is a measure of how volatile your bankroll will be playing a given game.
This statistic is commonly used to calculate the probability that the end result of a session of a defined number of bets will be within certain bounds.
The standard deviation of the final result over n bets is the product of the standard deviation for one bet see table and the square root of the number of initial bets made in the session.
This assumes that all bets made are of equal size. The probability that the session outcome will be within one standard deviation is The probability that the session outcome will be within two standard deviations is The probability that the session outcome will be within three standard deviations is The following table shows the probability that a session outcome will come within various numbers of standard deviations.
I realize that this explanation may not make much sense to someone who is not well versed in the basics of statistics.
If this is the case I would recommend enriching yourself with a good introductory statistics book. Although I do not mention hold percentages on my site the term is worth defining because it comes up a lot.
The hold percentage is the ratio of chips the casino keeps to the total chips sold. This is generally measured over an entire shift.
A mathematician alone can not determine the hold because it depends on how long the player will sit at the table and the same money circulates back and forth.
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