Understand Your Casino: Mean and Standard Deviation in Gaming

Mean and Standard Deviation in Gaming In the previous post, we talked about the long term expectation of games derived from the probabilities of outcomes in casino games. How about measuring results in the short-term such as when the results of shoes or player activity appear inconsistent with the expected values?  Let’s face it, they usually do! For this, it is useful to apply the principles of the central limit theorem, in particular, the concepts of mean and standard deviation. But first… Central Limit Theorem The central limit theorem explains that the outcome of repeated experiments will follow a bell-shaped pattern.  In terms of casino games, we can translate this as meaning that the outcomes of play will follow a certain pattern of winnings and losses. (Source: http://schools-wikipedia.org/) This is a bell-curve, so named due to its shape. The bell-curve’s centre is known as the mean or average (µ). Notice that the bell-curve is divided into 6 parts from -3σ

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Be THE MAN on YOUR gaming floor with SkyEye – Table Games!

Solutions 4: SkyEye – Table Games Requirements: Excel ver. 2007 and above Download: get in touch with us at excelpunks@gmail.com You’re a casino owner or a gaming manager.  You need to know anything and everything before anyone else does.  AND you needed to know yesterday.  You need to see who your winners, losers and  heaviest hitters are.  And as with all of your fellows, you trust no one more than yourself. You COULD hire a whole department to get you the information.  You couldn’t possibly get all that info on your own.  Or could you? Excelpunks gets you a mile ahead of everyone on YOUR gaming floor with SkyEye – Table Games! Just download your data and with a click of a button, SkyEye automatically: Generates a report on ALL your players and tells you who your top Winners, Losers and Highest Average Betters are! Generates a report from over 500,000 unique ratings in under 2 minutes! Generates a report on the

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