Common Casino Games: Mean, Variance & Standard Deviation
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xtw183879d27Common Casino Games: Mean, Variance & Standard Deviation
Any time a player is dealt a high pair, he instantly wins 10 units, possibly a lot more. It quickly drains players who must play 4 wagering units per round to chase a possible win. It is almost as wild a ride as playing a number straight-up in roulette. There is a lot of similarity to playing a number straight-up in roulette (odds are 1-in-38 and pays 35-to-1) and playing a proposition bet on 2 or 12 in craps (odds are 1-in-36 and pays 30-to-1). The wagers in Figure 9 with the highest volatility are, in this order, Mississippi Stud, the Dragon 7 side bet in EZ Baccarat, playing a number straight-up in roulette, Let it Ride, and a 2 or 12 proposition bet in craps.
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