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The calculation of the roulette house edge is a trivial exercise; for other games, this is not usually the case. The house edge of casino games varies greatly with the game, with some games having an edge as low as 0.3%. The chances of a player, who bets 1 unit on red, winning are 18/38 and his chances of losing 1 unit are 20/38.
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(In games such as blackjack or Spanish 21, the final bet may be several times the original bet, if the player doubles and splits.) The house edge, or vigorish, is defined as the casino profit expressed as a percentage of the player’s original bet. However, the casino may only pay 4 times the amount wagered for a winning wager. There are also hybrid games, as in craps, where the player bets on a terminal at the table but the game is managed by a dealer, although with fewer dealers than the non-hybrid version, this saves costs. Heads-up gaming involves players making decisions on their own machine with no interaction from other players.
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The binomial distribution assumes a result of 1 unit for a win, and 0 units for a loss, rather than −1 units for a loss, which doubles the range of possible outcomes. The luck factor in a casino game is quantified using standard deviations (SD). In American roulette, there are two “zeroes” (0, 00) and 36 non-zero numbers (18 red and 18 black). Multiplayer machines are where a player’s decision may affect others at the same game, such as when to press the button to roll dice in craps. The term has significance in that some jurisdictions permit casinos to have only slots and no table games.
