Variance Verses The House Edge.

[The General]

Variance: Whenever you see this word, replace it with the words "luck" or "bad luck". Claiming that variance is a bigger factor than the the house edge on your bankroll, over a long period of time, is ludicrous. And it's easily proven with the crude simplified formulas below.


Variance "luck" crude example, most of the time = Roughly 3 x (square root of Number of spins played x amount bet)      (The 3 represents a three standard deviation fluctuation)

House Edge = 5.26% x (Number of spins played x amount bet)        (double zero wheel in this example.)

When you input small spin samples (50,100,500 spins) into the crude formulas above, you will see that variance/"luck" has a bigger effect on your bankroll.
However, once you've been gambling off and on over several weeks, over several sessions, (5k, 10k, 20k spins) then you will see that the house edge consumes the largest portion of your bankroll.

To summarize...the casino relies on the house edge to make money...NOT LUCK.



-The General

[Tamino]

The house edge is the LEAST  of my  worries. If you wanna dance you got  to pay the fiddler.


Going to the casino playing to play  makes you a loser.

[The General]

Tamino,

Sick em! 

[MrJ]

 Good post General sir.

Ken

[icashbot]

how does the house edge affect straight  up number  bets?

[The General]

In the form of a short payout. 

Here's some of the math of how it affects the straight up bets.   

link:://:.math.uah.edu/stat/games/Roulette.html

[TwoCatSam]

Just a question; not a flame!

When did you ever hear a guy walking out of the casing saying, "Man, I lost 5.26% today!".

And I'm gone....

TwoCat

[Turner]

Just a question; not a flame!

When did you ever hear a guy walking out of the casing saying, "Man, I lost 5.26% today!".

And I'm gone....

TwoCat

Well they may say why have I just won $35 when there are 38 numbers....if they even noticed.

Having said that, do 99.9% of punters care?

The craps table has the most holes in the carpet from High Heels lol

Craps has the worst set of HE's in the casino, although it also has the best.

But where are they betting?

Laying odds on 6 & 8 @ 0.00% HE or playing Big 6/8 at 9% HE

Big 6/8 of course, with its big real estate on the carpet.