Roulette Edge Question
 

Can someone please show me how to compute our expected loss if me and a friend both go play roulette and bet $100 on opposite colors 100 times?

Re: Roulette Edge Question
 

There is a 2/38 or 1/19 chance that you bust on any given spin.

Your expected loss per spin is 200(1/19). You can just multiply by the number of spins, since each is independent.

Then your expected loss after 100 spins is 200*100/19.

Another way to find this is to look at the event that a zero occurs as a geometric distribution. Since the probability is 1/19, the mean is 19 spins. The expected number of zeros in 100 spins is then 100/19. Multipling this by your bet size ($200) gives you your expected loss.

Re: Roulette Edge Question
 

Money Laundering?

Re: Roulette Edge Question
 

The EV of any bet in American Roulette is -5.26% of the bet.
Thats the house edge per bet.

EV of $100 bet on the Red or Black:
($100*18/38)+(-$100*20/38)= -$5.26

On average, you and your friend together are expected to lose $10.52 per round, $5.26 each.
So the answer to your question is $1052.

Re: Roulette Edge Question
 

No, trying to pimp some comps, for weekend rooms and such.

Re: Roulette Edge Question
 

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No, trying to pimp some comps, for weekend rooms and such.

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Depending on how much effort you want to put into it, the Vegas games with the lowest house edge are typically Black Jack or Craps.

Re: Roulette Edge Question
 

why don't you use a strategy in which your odds of winning are greater than 0%

Re: Roulette Edge Question
 

Playing the don'ts and laying max odds on craps is a pretty good way to get comped IF they give you credit for your odds bets (which are made at true odds). On a 3,4,5 table this amounts to putting down 30 bucks at even odds while only making 5 dollar original bets. Multiply by 10 if you want to go big.

Just make sure you're getting comped for your odds bets. If you are, these bets are actually +EV, as you earn comps but they are "fair" bets.

Re: Roulette Edge Question
 

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why don't you use a strategy in which your odds of winning are greater than 0%

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I don't think any such strategy exists for roulette.

Re: Roulette Edge Question
 

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Playing the don'ts and laying max odds on craps is a pretty good way to get comped IF they give you credit for your odds bets (which are made at true odds). On a 3,4,5 table this amounts to putting down 30 bucks at even odds while only making 5 dollar original bets. Multiply by 10 if you want to go big.

Just make sure you're getting comped for your odds bets. If you are, these bets are actually +EV, as you earn comps but they are "fair" bets.

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AFAIK, no casino in AC comps for odds bets, since the house has no edge.

Re: Roulette Edge Question
 

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[ QUOTE ]
why don't you use a strategy in which your odds of winning are greater than 0%

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I don't think any such strategy exists for roulette.

[/ QUOTE ]Ummm...there is a roulette strategy in which your odds of winning exceed 99%.

Re: Roulette Edge Question
 

[ QUOTE ]
[ QUOTE ]
[ QUOTE ]
why don't you use a strategy in which your odds of winning are greater than 0%

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I don't think any such strategy exists for roulette.

[/ QUOTE ]Ummm...there is a roulette strategy in which your odds of winning exceed 99%.

[/ QUOTE ]

And that would be?

Re: Roulette Edge Question
 

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Ummm...there is a roulette strategy in which your odds of winning exceed 99%.

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Kids...

Re: Roulette Edge Question
 

You can generate strategies for any chance to win that is at least zero, and less than one. This is frequently referred to as the 'Martingale' approach to roulette.

Of course, the net EV is still negative.

Re: Roulette Edge Question
 

Your comps will be far less than your expected loss.

But here's what I really don't understand...why would you want to get a hotel room in a casino just so you can stand around a roulette wheel and watch a game that you have zero chance of winning? This sounds like one of the most boring ways to spend a day I can imagine.

Re: Roulette Edge Question
 

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Your comps will be far less than your expected loss.

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I dont really understand the meaning of "comps". What is it actually? Do every casino allows it? Thanks in advance.

Re: Roulette Edge Question
 

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Your comps will be far less than your expected loss.

But here's what I really don't understand...why would you want to get a hotel room in a casino just so you can stand around a roulette wheel and watch a game that you have zero chance of winning? This sounds like one of the most boring ways to spend a day I can imagine.

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I will be in the casino anyway playing poker, and if my expected loss is less than the poker rate or would get me rooms on weekends it might be worth it.

Re: Roulette Edge Question
 

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if my expected loss is less than the poker rate

[/ QUOTE ] Pretty much impossible.

Re: Roulette Edge Question
 

[ QUOTE ]
The EV of any bet in American Roulette is -5.26% of the bet.
Thats the house edge per bet.

EV of $100 bet on the Red or Black:
($100*18/38)+(-$100*20/38)= -$5.26

On average, you and your friend together are expected to lose $10.52 per round, $5.26 each.
So the answer to your question is $1052.

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This doesn't seem right since we only lose half a bet when 0 or 00 comes up. Never mind , I see now it doesn't matter.

Re: Roulette Edge Question
 

listen up guys! they say no strategy works but let me state otherwise. i use the martingale tech. i start with a bank of lates say $500. i bet $10 on black or red. if i lose , i dbl down until i win. by using $10 as my initial betting, then with a bank of $500, ican afford to dbl downseveral times b 4 my bank is consumed..odds are 7 consecutive colors are not gonna come up in a row.by betting $10, u can lose 5 or 6 in a row but when u dbl down and eventually win, you have won all your money back + $10. so the lesson is to bring a significant bank, so that u can keep dbling down until u win it back. ive never lost using this strategy.sometimes i win $100 other times much more. good luck and test it out 4 yourself.

Re: Roulette Edge Question
 

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Your comps will be far less than your expected loss.

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I dont really understand the meaning of "comps". What is it actually? Do every casino allows it? Thanks in advance.

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Comps are gifts from the casino to encourage you to play there again. Generally, casinos are happy to comp you up to about 1/3 of your expected loss. They estimate how much you are playing, and your expected loss, to determine how much you are worth, and which comps you get.

Some people try to get comped more than they expect to lose. This can be done when the casino overestimates how much you are wagering, such as when you are varying your bets, or overestimates the house advantage, such as when you are playing blackjack or video poker using proper strategy and have a house advantage of perhaps 0.5% instead of the typical 2-3%. Neither possibility will apply if you are flat-betting on roulette.

Comps may be worth a different amount to the recipients than they cost to the casino. If you don't care about champagne, having an expensive bottle placed in your room is a waste of a comp. On the other hand, if there are extra rooms, it may cost very little for the casino to put you in one, but it may save you the full price.

Re: Roulette Edge Question
 

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listen up guys! they say no strategy works but let me state otherwise. i use the martingale tech. i start with a bank of lates say $500. i bet $10 on black or red. if i lose , i dbl down until i win. by using $10 as my initial betting, then with a bank of $500, ican afford to dbl downseveral times b 4 my bank is consumed..odds are 7 consecutive colors are not gonna come up in a row.by betting $10, u can lose 5 or 6 in a row but when u dbl down and eventually win, you have won all your money back + $10. so the lesson is to bring a significant bank, so that u can keep dbling down until u win it back. ive never lost using this strategy.sometimes i win $100 other times much more. good luck and test it out 4 yourself.

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Sstop givingv out our seceret.if you tell all they will play like us and casinos will lose all$$$$ and none left for us so keep it on lodown and i will see you there.sometimes i bet 5 double everytime so they wont ban me from casino disguise strategy. free$$$$$$ but no one else tell.

Re: Roulette Edge Question
 

You will have no trouble getting comped.

doormat