Thursday, July 15, 2004
Rethinking Roulette.
I've been rethinking the roulette odds I posted. I was talking with Joe and he seemed certain that my logic was wrong, so I crunched a couple more numbers.
If you bet $10, the odds vs. payoff rate are 26.32% and 28.57% respectively. $15 and the odds to payoff are 39.47% and 42.86%. $20 and the odds are 52.63% and 57.14%.
If you divide the odds over the payoff for each one (26.32/28.57 and 39.47/42.86 and 52.63/57.14) then you get 92.11%. So now I'm thinking that it doesn't matter how much you bet. Unless you get on an unlucky streak and lose all your money, I'm guessing you have a 92.11% chance of breaking even.
Now I'm confused. I'm pretty sure this second post is right, though. I'll have to think about it a little more. Maybe I'll actually just research it.
If you bet $10, the odds vs. payoff rate are 26.32% and 28.57% respectively. $15 and the odds to payoff are 39.47% and 42.86%. $20 and the odds are 52.63% and 57.14%.
If you divide the odds over the payoff for each one (26.32/28.57 and 39.47/42.86 and 52.63/57.14) then you get 92.11%. So now I'm thinking that it doesn't matter how much you bet. Unless you get on an unlucky streak and lose all your money, I'm guessing you have a 92.11% chance of breaking even.
Now I'm confused. I'm pretty sure this second post is right, though. I'll have to think about it a little more. Maybe I'll actually just research it.
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I personally like craps, although I have lost my fair share of paychecks at it in Vegas, but you might want to check out the odds here:
http://wizardofodds.com/games/roulette.html
-Yankel
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http://wizardofodds.com/games/roulette.html
-Yankel
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