Roulette Edge Question

[joel2006]

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?

[T50_Omaha8]

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.

[jjshabado]

Money Laundering?

[Flip-Flop]

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.

[joel2006]

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

[rufus]

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

[/ QUOTE ]

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.

[btmagnetw]

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

[jesse8888]

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.

[joel2006]

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

[/ QUOTE ]

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

[joel2006]

[ QUOTE ]
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.

[/ QUOTE ]

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