The theoretical win for a casino is calculated based on several factors, including the game being played, the house edge, the average bet size, and the total amount of time that a player spends in the casino. Here's a general formula that casinos use to calculate their theoretical win:
Let's break down this formula further:
1. Total Amount Wagered: This is the total amount of money that players bet on a particular game over a specific period of time. For example, if players bet a total of $1,000 on a slot machine in an hour, then the total amount wagered for that hour is $1,000.
2. House Edge: This is the mathematical advantage that the casino has over the player for a particular game. It is usually expressed as a percentage of the total amount wagered. For example, if a game has a house edge of 5%, then the casino can expect to earn an average of $50 for every $1,000 wagered on that game.
Once the total amount wagered and the house edge have been determined, the casino can calculate their theoretical win by multiplying these two values together. For example, if players wager a total of $10,000 on a game with a house edge of 2%, then the theoretical win for the casino would be:
This means that the casino can expect to earn an average of $200 from this game over the long term.
It's important to note that the theoretical win is just an estimate based on statistical probability, and individual players may experience different outcomes in the short term. In addition, some players may have better or worse luck than others, which can impact the actual amount of money that the casino earns from them.
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