I used coin flip as an example because it's the most simple game I could think of which has only two outcomes with the same probability (50/50).
Although the chance/probability of the coin landing on one side (head or tail) is 50%, the house edge is not necessarily 0.
I did a small research and I think the correct terms are true odds and actual/payout odds.
For example, if you bet $1 on tail and you win, the house will pay you $0.95 if their he is 2.5%.
Although the chance/probability of the coin landing on one side (head or tail) is 50%, the house edge is not necessarily 0.
I did a small research and I think the correct terms are true odds and actual/payout odds.
For example, if you bet $1 on tail and you win, the house will pay you $0.95 if their he is 2.5%.
You see, like many of you who write in this section, you have a certain idea of what HE is, but you don't really understand it. Where do you get that in the example you give the HE would be 2.5% if you get paid $0.95 for every $1? From dividing $0.05 by 2? Is that the logic? That as half of the time you will get heads and the other half tails you have to divide by 2?
alot of people also don't understand, that some games like coinflip can have only 2 outcomes, with a 2x payout. and it still not be 50/50. While thinking, since it's provably fair, it has to be 50/50. i've seen alot of people complain about "spin the wheel" type games, where it slows down near the jackpot to build suspense.... then tick backwards. And they cry, saying it's rigged. it's surprising how some people don't realize alot of the visuals aren't accurate, like "3d slots" keeps showing 2/3 bonus triggers, it should be easier to hit it.
