Casino Gaming: Theoretical Win, Expected Value and Standard Deviation

Theoretical win and the standard deviations of expected value have been widely covered in numerous articles.  Unfortunately for me, the discussion on the topic has seldom been comprehensive enough to be understood by the layperson (meaning me). This post attempts to explain the issue in the simplest possible way. Why is this important? Theoretical win … Continue reading Casino Gaming: Theoretical Win, Expected Value and Standard Deviation

The Logic Of The Losing Shoe

The Logic of the Losing Shoe For those in the casino industry, especially for us surveillance folks, the words ‘losing shoe’ are all too familiar. A losing shoe is a period of play, normally lasting the length of one shoe of cards (which may be from one to as many decks as the shoe can … Continue reading The Logic Of The Losing Shoe

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 … Continue reading Understand Your Casino: Mean and Standard Deviation in Gaming