Calculate House Odds of Unique Casino Game

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Homework Statement



Trying to determine the house odds of a spinning wheel game. We are the house and want to offer a fair play game with a minimal rake, but still make profit. How do our odds compare with a game such as roulette. What are our odds?

This is how our game works. I can provide more details if required.

The player makes a wager from his balance and spins the wheel. The outcome is then multiplied by the wager then added or subtracted to the balance. The player can wager from minimum .00000001 to maximum 1

outcomes = 17 (0x, 0x, .25x, .25x, .50x, .50x, .75x, .75x, .95, 1.25x, 1.25x, 1.50x, 1.50x, 1.75x, 1.75x, 2x, 2x)

We consider the .95x the "house rake"

Any help would be appreciated

Homework Equations


The Attempt at a Solution

 
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Sniglet1971 said:

Homework Statement



Trying to determine the house odds of a spinning wheel game. We are the house and want to offer a fair play game with a minimal rake, but still make profit. How do our odds compare with a game such as roulette. What are our odds?

This is how our game works. I can provide more details if required.

The player makes a wager from his balance and spins the wheel. The outcome is then multiplied by the wager then added or subtracted to the balance. The player can wager from minimum .00000001 to maximum 1

outcomes = 17 (0x, 0x, .25x, .25x, .50x, .50x, .75x, .75x, .95, 1.25x, 1.25x, 1.50x, 1.50x, 1.75x, 1.75x, 2x, 2x)

We consider the .95x the "house rake"

Any help would be appreciated

Homework Equations





The Attempt at a Solution


How do you decide whether to add or subtract?