Casino House Always Wins

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The House Always Wins -Early Draft

The house always wins. Sure, you might win in the short term, but if you gamble for an extended period of time you will lose money. Think about it... how would people be able to build multi million dollar casinos in Las Vegas unless they made profits, huge profits. No matter what game you play in a casino you lose money if you play long enough. So, why do people play if they know they will lose...
Essential Questions:
-Why do people play games when statistically they will lose?
-How can you design a casino game that will raise money for charity?
Deliverables:
-A game that has a house edge, but is fun to play for the players
-A poster that explains how to play your game
-Play analysis from exhibition night including
Exhibition Night Fundraiser
-Money raised goes to charity
Texas Hold Em Extra Credit Game (between 8.4 and 13.4 percent house edge):
-Each student wagers 5 test points to enter the tournament
-1st = 16.7% of total (25 points if 30 people play!)
-3rd = 10% of total
-9th-10th = 3.3% of the total

Example Test Questions
-You are playing single deck blackjack and have 16. The dealer is showing a Jack. What percentage chance to you have of busting if you take only one more card? Explain why.
-Your hole cards are 8 of hearts and Ace of hearts. The flop was 4 of hearts, 8 of clubs, and King of diamonds. What is your percentage chance of getting your flush?
-What percentage of the time will you win if you bet Red on Roulette?
-What are your odds of flipping a coin heads five times in a row?


Probability Tree: http://www.youtube.com/watch?v=mkDzmI7YOx0
Probability Games: http://www.transum.org/software/sw/starter_of_the_day/Similar.asp?ID_Topic=30

52 cards, how many combinations?


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Casino House Always Wins Publishers Clearing House

Letter: On company valuations, the ‘house’ always wins. From Michael O’Neill, London NW8, UK. The markets are a casino that have recently been re-priced by $11tn of “new” money put. 'The house always wins' is a popular saying describing how casino games have an inherent bias toward the casino, or 'house' (described as the 'house edge') so that in the long run the casino will nearly always come out ahead. V d e Quests in Fallout: New Vegas. The odds are 12 to 1 against you, but the house only pays 11 to 1. This is how the casino wins even when you win. Another way to say it is: 'When you lose the house wins, when you win the house also wins.' Still, craps is a fun and exciting game. While it might be that the “house always wins” sometimes the good guys and the bad guys do too. The house in this fun story is Dirty Sam’s Casino in Long Harbor, New Jersey. There is a lot to this easy to read story.