The Slot Machine Advanced Standard Deviation Strategy
The following table shows the house edge of most casino games. For games partially of skill perfect play is assumed.
See below the table for a definition of the house edge. The house edge is defined as the ratio of the average loss to the initial bet. The house edge is not the ratio of money lost to total money wagered. In some games the beginning wager is not necessarily the ending wager. For example in blackjack, let it ride, and Caribbean stud poker, the player may increase their bet when the odds favor doing so. In these cases the additional money wagered is not figured into the denominator for the purpose of determining the house edge, thus increasing the measure of risk.
The reason that the house edge is relative to the original wager, not the average wager, is that it makes it easier for the player to estimate how much they will lose. For example if a player knows the house edge in blackjack is 0. Most players are not going to know how much their average wager will be in games like blackjack relative to the original wager, thus any statistic based on the average wager would be difficult to apply to real life questions.
The conventional definition can be helpful for players determine how much it will cost them to play, given the information they already know. However the statistic is very biased as a measure of risk. In Caribbean stud poker, for example, the house edge is 5.
However the ratio of average money lost to average money wagered in Caribbean stud is only 2. The player only looking at the house edge may be indifferent between roulette and Caribbean stud poker, based only the house edge. If one wants to compare one game against another I believe it is better to look at the ratio of money lost to money wagered, which would show Caribbean stud poker to be a much better gamble than roulette.
I personally opt to include ties although I respect the other definition. For purposes of comparing one game to another I would like to propose a different measurement of risk, which I call the "element of risk.
For bets in which the initial bet is always the final bet there would be no difference between this statistic and the house edge. Bets in which there is a difference are listed below. The standard deviation is a measure of how volatile your bankroll will be playing a given game. This statistic is commonly used to calculate the probability that the end result of a session of a defined number of bets will be within certain bounds. The standard deviation of the final result over n bets is the product of the standard deviation for one bet see table and the square root of the number of initial bets made in the session.
This assumes that all bets made are of equal size. The probability that the session outcome will be within one standard deviation is The probability that the session outcome will be within two standard deviations is This information is publicly available , as well as the rules of the game. The second approach implies personal testing of a slot machine. Currently, many of the slot machine providers and online casinos offer free test trials in order to give gamblers an opportunity to check out the slot.
In this case, gamblers estimate first-hand the approximate payoff levels and make their own conclusions regarding volatility of a slot machine. The third approach is connected with reviewing various gambling studies, coverage papers, and forums. More often than not, gamblers share information on different informative resources. If you are not really interested in the jackpot and do not want to jeopardize the whole thing, choose moderately dispersive machines.
In case of not having big amounts of money to start with or you do not want to take risks, but you are willing to play and win, select low dispersion slots. Slotegrator is one of the leading providers of quality gambling content for online casinos. Among our partners, you may find worldwide - famous developers of slot machines that have already proved to be the best players on the market offering innovative and top-grade products. The following table provides you with a list of popular games, categorized into three main groups such as: To sum up, it should be said, that volatility of the slot machines determines the risk levels while gambling.
It also predetermines the frequency and amounts of prize money won by a gambler. That is why before starting to gamble, one has to be aware of the volatility factor while choosing a slot. Online Gambling Taxation in Different Countries. Spinomenal Presents the Book of Guardians! Great Women in Gambling Business. Why Online Casinos Go Bankrupt?