Casino Game
I have to create a Casino style game for Data Management?
Since I’ve never been in a casino before, I’ve never played any games in there…I need help trying to create an original, easy-to-play and profitable game involving dice, spinners, cards, or any other reasonable item that introudces an element of chance.
I have to design the game so that I’ll have an expected profit of up to 60 cents. The cost to play the game (set up by me) can’t be moer than $3.
HELP
Flip a coin.
If it lands heads, the bettor loses $3.00
If it lands tails, the bettor wins $1.80
The Expected Value of this game (for the house) is
EV = (0.5) * (+3.00) + (0.5) * (-1.80)
= 1.50 – 0.90
= 0.60
Don’t expect people to be lining up for this game where the house edge is 20% (almost 4 times the house advantage of roulette).
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