Casino math problem…helpppppp meeee pleaseeee?
Question by Lily P: Casino math problem…helpppppp meeee pleaseeee?
Suppose a player buys $ 101,000 worth of dead chips for $ 100,000 (1% bonus). Suppose player wagers 1 chip at a time on a game with P(WIN) = .45, P(LOSS) = .44, P(TIE) = .11. Suppose there is a 5% commission being charged on Player Win. Calculate casino win from this player if player plays till all dead chips are lost.
a. $ 1869
b. $ 898
c. $ 645
d. $ 731
Can you explain as you solve. Thanks very much
Best answer:
Answer by LegFuJohnson
Does your own homework, seriously.
Just figure out what happens each hand.
What do you think? Answer below!
One Response to “Casino math problem…helpppppp meeee pleaseeee?”
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none of those answers is correct as simple common sense will tell you.
he wins as often as he loses so by the time he has lost $ 100,000 he will have won $ 100,000 in doing so as a minimum
5% of that is $ 5,000 so the casino will earn well over any of the amounts shown in your suggested answers
(even if he just placed 101,000 bets he would win 45% of them and the commission would be way over $ 2,000)
I’ll leave it to you to do the maths to calculate exactly what commission they get