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The probability that the session outcome will be within two standard deviations is The probability that the session outcome will be within three standard deviations is The following table shows the probability that a session outcome will come within various numbers of standard deviations.

I realize that this explanation may not make much sense to someone who is not well versed in the basics of statistics. If this is the case I would recommend enriching yourself with a good introductory statistics book.

Although I do not mention hold percentages on my site the term is worth defining because it comes up a lot. The hold percentage is the ratio of chips the casino keeps to the total chips sold.

This is generally measured over an entire shift. A mathematician alone can not determine the hold because it depends on how long the player will sit at the table and the same money circulates back and forth.

There is a lot of confusion between the house edge and hold, especially among casino personnel. The following table shows the average hands per hour and the house edge for comp purposes various games.

The house edge figures are higher than those above, because the above figures assume optimal strategy, and those below reflect player errors and average type of bet made.

This table was given to me anonymously by an executive with a major Strip casino and is used for rating players. A Spanish translation of this page is available at www.

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The Wizard of Odds. Casinos have been linked to organised crime , with early casinos in Las Vegas originally dominated by the American Mafia [29] [30] and in Macau by Triad syndicates.

According to some police reports, incidences of reported crime often double and triple in communities within three years of a casino opening.

It has been said that economic studies that show a positive relationship between casinos and crime usually fail to consider the visiting population at risk when they calculate the crime rate in casino areas.

Such studies thus count the crimes committed by visitors, but do not count visitors in the population measure, and this overstates the crime rates in casino areas.

Part of the reason this methodology is used, despite it leading to an overstatement of crime rates is that reliable data on tourist count are often not available.

Entrance to the casino at Resorts World Sentosa , Singapore. View of the Monte Carlo Casino , Monaco. From Wikipedia, the free encyclopedia.

It is not to be confused with Gambling House film. This article is about establishments for gambling. For other uses, see Casino disambiguation.

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Gambling in the United States. An Encyclopedia of History, Issues, and Society. Retrieved August 17, Archived from the original on Archived from the original on November 23, Liminality and the Modern: Living Through the In-Between.

Retrieved 22 May Archived from the original on 24 June The New York Times. The Biggest Casinos Ever! Retrieved 23 June Exploring the Link" July Gambling mathematics Mathematics of bookmaking Poker probability.

Casino game Game of chance Game of skill List of bets Problem gambling. Category Commons Wiktionary WikiProject. Retrieved from " https: Webarchive template wayback links Articles containing potentially dated statements from All articles containing potentially dated statements Articles needing additional references from August All articles needing additional references Wikipedia articles in need of updating from August All Wikipedia articles in need of updating All articles with vague or ambiguous time Vague or ambiguous time from December Articles with Curlie links Wikipedia articles with GND identifiers Wikipedia articles with NDL identifiers.

Views Read Edit View history. In other projects Wikimedia Commons. This page was last edited on 13 October , at It started in A sci-fi card game.

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