Working out a lot of gambling vernacular is often tough at times. Expected Value, or EV as it is often labeled, is a critically significant aspect of gambling speak one ought to endeavor to decipher.
For instance, defining the EV of a punt can decree not only if the player ought to put down the bet, but further, in what manner one could lay down that punt. Firstly let’s do the EV math behind a everyday casino gaming proposition
The card game of Baccarat has wide appeal to casino punters everywhere. The game consists of three particular type of wagers on which one can wager on either the Player, Banker or a pushed result.
One can understand by reliance on prominent gaming authorities, reinforced by computer generated simulations from literally many millions of hands, that the Banker bet in Baccarat succeeds a little more often than the corresponding Player punt. One can also realize that every $100 laid on the Banker proposition the punter will get back $98.91 on average. How can this relevant?
Let’s say the Banker proposition pays back an even $99 for every $100 bet. One can conclude that the punter will forfeit $1 in every $100 bet. Putting it another way the proposition of betting on the Banker in the casino game of Baccarat bears a negative Expected Value of 1%. A shorthand version is written -1% EV or -EV 1.0.
If the punter were to wager a a long string of level staked bets on Banker adding up to $2,000 then one can expect to lose 1% of the $2,000 punting turnover leaving one in the long run $20 poorer. Playing a negative expectation game you should expect a loss.
However, should a casino offer a player $100 in bonus cash to sign up and play at the Baccarat table on the terms he is obliged to wager at least $2,000, then the EV is substantially reversed in the one’s favor.
One can quickly compute the revised EV to be the size of the bonus $100 less the $20 expected to be lost in turning over $2,000 of Banker Baccarat hands. Putting it another way a surplus of $80 on average will be made.
Other such similar gaming propositions ought to be weighed up when encountered in the real online casino gaming circles.