## Combinatorial Analysis – Counting Possible Outcomes AND creating YOUR OWN Casino Game!

We have seen how knowing the expectation enables us to set the odds of games.  If you recall, the formula for calculating the expectation for any wager is : (Probability of winning x the amount a wager would win) – (Probability of losing x the amount a wager would lose) So, if you wanted to create your own casino game, you would have to go through the following process: Calculating Probabilities of outcomes Calculating the Expectation Setting the Odds From the previous posts, you would have already figured out 2 and 3. How do we then get the probabilities of games?  This is perhaps the most fundamental aspect of casino games.  To do this, we would need to learn about combinatorial analysis. Combinatorial analysis is about counting possibilities.  This is essential when trying to determine the probabilities of events, such as a pair in Baccarat or a full house in poker.  Knowing how to calculate these probabilities then allows you

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