Introduction to Casino Mathematics
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This document provides an introduction to casino mathematics and game expectancy. It discusses key concepts like probability, statistics, theoretical advantage, house edge, theoretical win and hold percentage. The document is presented over multiple slides that define these terms and concepts, provide examples, and explain how casinos can use mathematical tools and metrics like theoretical win and hold percentage to effectively manage their games and increase profits.
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Introduction to Casino Mathematics
- 1. Casino Mathematics 1 introduction to game expectancy RAMACHANDAR SIVA. ALL RIGHTS RESERVED.2006.
- 19. Casino Mathematics 1 HOW CASINOS MAKE MONEY HOUSE EDGE The mathematical advantage that the casino has over player in casino games is known as the House edge or Theoretical House Advantage. RAMACHANDAR SIVA. ALL RIGHTS RESERVED.2006.
- 20. Casino Mathematics 1 THEORETICAL WIN & HOLD PERCENTAGE Theoretical Win Since the potential win is calculated using a mathematical house edge which is derived from theory of probabilities, it remains theoretical win and not ‘actual win’. RAMACHANDAR SIVA. ALL RIGHTS RESERVED.2006.
- 21. Casino Mathematics 1 THEORETICAL WIN & HOLD PERCENTAGE formula 1 Theoretical Win (TW) = Total Wager x House Edge % RAMACHANDAR SIVA. ALL RIGHTS RESERVED.2006.
- 22. Casino Mathematics 1 THEORETICAL WIN & HOLD PERCENTAGE HANDLE Is defined the total amount of wager placed by player or players at a game or all gaming tables of the casino. It’s known as DROP when casinos assume all chip purchase are wagered. Casinos don’t keep track of total wagers placed for each game by every player. RAMACHANDAR SIVA. ALL RIGHTS RESERVED.2006.
- 23. Casino Mathematics 1 THEORETICAL WIN & HOLD PERCENTAGE formula 2 Handle (Player) = Number of hands played x Average bet RAMACHANDAR SIVA. ALL RIGHTS RESERVED.2006.
- 24. Casino Mathematics 1 THEORETICAL WIN & HOLD PERCENTAGE DROP Actual amount of cash sales of chips at a gaming table (or the whole casino). Includes warrant, marker and program chip sales. RAMACHANDAR SIVA. ALL RIGHTS RESERVED.2006.
- 25. Casino Mathematics 1 THEORETICAL WIN & HOLD PERCENTAGE HOLD PERCENTAGE The net amount of money a particular game takes in (wins) as a percentage of the table drop over a certain period of time. RAMACHANDAR SIVA. ALL RIGHTS RESERVED.2006.
- 26. Casino Mathematics 1 THEORETICAL WIN & HOLD PERCENTAGE formula 4 Hold Percentage = Actual win X 100% Actual Drop RAMACHANDAR SIVA. ALL RIGHTS RESERVED.2006.
- 27. Casino Mathematics 1 Theoretical win & hold percentage as management tools Casino Profit ↑ = Win ↑= Handle↑ x House Edge % RAMACHANDAR SIVA. ALL RIGHTS RESERVED.2006.
- 28. Casino Mathematics 1 Theoretical win & hold percentage as management tools formula 5 Win ↑ = (Hands/hour ↑ x Duration of play ↑ x Average Bet ↑ ) x House Edge ↑ % RAMACHANDAR SIVA. ALL RIGHTS RESERVED.2006.
- 34. Casino Mathematics 1 INTERNATIONAL CLUB GAMES TRAINING CENTRE PTE. LTD,ALL RIGHTS RESERVED.2006. Thank You
Notes de l'éditeur
- Explain : In this lesson, you will cover the basic job functions of a Dealer, What skills/knowledge and ability a dealer needs to have to perform the job function, and define key performance areas which are used to evaluate the performance of a Dealer. Inform class that a copy of generic Job Description is provided for later reading.
- Tell students: “ This is the generic job description for a Croupier in a casino. Specific tasks are basically conducting casino games where a croupier is assigned to. Apart from dealing the games, Croupiers are required to ensure security of the game and service by following the work procedures. A main aspect of the job is to always ensure customer satisfaction. You may ask the class : “ How can you ensure satisfaction if the player has lost his money ?” Seek some responses from students. To conclude, tell students that the casino’s customer service is not about guaranteed winning, but to make sure the player was provided friendly services even when his losing, ESPECIALLY when losing.
- Tell students: “ This is the generic job description for a Croupier in a casino. Specific tasks are basically conducting casino games where a croupier is assigned to. Apart from dealing the games, Croupiers are required to ensure security of the game and service by following the work procedures. A main aspect of the job is to always ensure customer satisfaction. You may ask the class : “ How can you ensure satisfaction if the player has lost his money ?” Seek some responses from students. To conclude, tell students that the casino’s customer service is not about guaranteed winning, but to make sure the player was provided friendly services even when his losing, ESPECIALLY when losing.
- Tell students: “ This is the generic job description for a Croupier in a casino. Specific tasks are basically conducting casino games where a croupier is assigned to. Apart from dealing the games, Croupiers are required to ensure security of the game and service by following the work procedures. A main aspect of the job is to always ensure customer satisfaction. You may ask the class : “ How can you ensure satisfaction if the player has lost his money ?” Seek some responses from students. To conclude, tell students that the casino’s customer service is not about guaranteed winning, but to make sure the player was provided friendly services even when his losing, ESPECIALLY when losing.