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Roulette Probability/StatisticsRoulette is a simple game played in most casinos around the world. It contains a fixed set of probabilities with no real skill required to play the game.There a two styles a roulette tables, one with a single zero and the other with two zero. We will examine the probabily of both tables. Single Zero Roulette Table There are a total of 37 different possible outcomes and each outcome is independant of the previous one.
Double Zero Roulette Table There are a total of 38 different possible outcomes and each outcome is independant of the previous one.
How Casinos Make Their Money Simply put, a casino makes its money by paying you back a value less than your true probability of winning is. As an example if you bet on a single number your chances of winning is 1 in 37 or 1 in 38 (depending on the table). However the casino will only pay out to you 35 to 1 or 36 to 1. A second example would be if you placed a $10 bet on red and win the casino will give back to you $20. However the probably of a red appearing is 18 in 37 or 18 in 38 (again depending on the table) which means to provide a fair payout for your bet you should have been paid approximately $20.56 or $21.11 respectively. By payout out less than what the true odds dictate, the casino obtains the favourable monetary balance. |