Calculate House Odds of Unique Casino Game

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SUMMARY

The discussion focuses on calculating the house odds for a unique spinning wheel game, where the house aims to maintain a minimal rake while ensuring profitability. The game features 17 possible outcomes, including multipliers ranging from 0x to 2x, with a specific house rake set at 0.95x. Participants seek to understand how these odds compare to traditional games like roulette, emphasizing the need for a fair play environment while still generating revenue.

PREREQUISITES
  • Understanding of probability and odds calculation
  • Familiarity with game mechanics in casino environments
  • Knowledge of rake concepts in gambling
  • Basic mathematical skills for calculating expected outcomes
NEXT STEPS
  • Research the mathematical principles behind calculating house edges in casino games
  • Explore the mechanics of roulette and its odds for comparison
  • Learn about the implications of rake on player profitability and house revenue
  • Investigate game design principles for creating fair and engaging gambling experiences
USEFUL FOR

This discussion is beneficial for game developers, casino operators, and mathematicians interested in game theory and gambling odds, particularly those involved in designing or analyzing casino games.

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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?