A few weeks ago we covered basic probability and house edge. In this article, we are going to look at a chain of chances with or without memory.
A basic example of this is a betting proposition of 4 coins in a row.…
Tag Archives: house edge
Calculating House Edge 101
Basically, the house edge is the percentage that the casino should hold as profit on a game. Of course, probability is not a straight line through a set of stationary numbers and this percentage will vary in the short term, but should get remarkably accurate in the longer view.…