Casino Games for Teaching Math and Statistics
Whether or not you prefer or agree with Bill Gates, you've to acknowledge his business and individual successes, and his passion for education reform. A very important factor that we should all agree upon is that the status quo is not acceptable. We must find new approaches to engage students at critical points in their development to insure that FUNDAMENTALS are not just learned and understood, but become second nature to them. Back before calculator were invented, students had to memorize multiplication tables. Just how many 5th graders today can rip out the multiplication tables as well as their parents?
Some private schools and even charter schools that do not have their hands tied by exactly the same constraints as public schools have implemented new techniques designed to engage their students by introducing practical applications to fundamental 1XBET mathematics and statistics. One of these brilliant techniques is the use of casino games.
Games on most any type capture the attention of students and adults alike. Take the overall game of Monopoly for example...the rule are presented, the players each formulate their very own individual strategy based upon the rules, there's some chance with the dice and the cards, and there's ultimately a winner. They are the primary element of nearly any 'game', and games that help teach while in the means of playing them really are a Win-Win for everyone.
Types of Casino Game Math
Roulette is a well known casino game and probably the simplest example for illustrating mathematics and statistics. The roulette wheel has the numbers 1-36 plus 0 and 00 making for a total of 38 possible outcomes from just one spin. If you place a bet about the same number on the board and win, the casino can pay you 35-1. In this example, the casino has a statistical advantage of 5.26%. How did we get that? There is a probability of 1/38 that the ball player wins 35 times the bet, and a 37/38 chance that the ball player loses their bet. The expected value is:
−137⁄38 + 351⁄38 = −0.0526 (5.26% house edge)
The 'House Edge' is what keeps casinos alive and well. This means that for each and every $1 bet the casino will statistically make 5.26 cents on this kind of bet.
Another bet in the overall game of roulette is named the "Top Line" where the ball player places just one wager which covers 1,2,3,0,00 (five numbers) and can pay 6-1 if any of those numbers are spun. In this case, the expected value is:
-1x 33⁄38 + 65⁄38 = −0.0789 (7.89% house edge)
Which bet will cost the ball player probably the most money in the future?
Every bet on the roulette wheel (and on practically every bet on every game in a casino) has a home edge, so a lot more than others as you can see.
Two dice with six sides each which produces 6x6=36 possible combinations with symmetrical distribution of the numbers. For a one roll bet on the quantity 12 the casino can pay 30-1. What's the probability of rolling a 12? How do you calculate the house edge on this bet?
Endless Possibilities for Workshops
These examples show only a several bets on a several popular casino games. They are the easy ones to illustrate and calculate. Throw cards and slot machines with virtual reels and jackpots to the mix and you may have an endless variety of practical examples ever increase complexity to the underlying calculations. The professional dealers with iHostPoker have volunteered their time and energy to perform educational workshops to assist the teachers in bringing these important disciplines to light and hopefully creating a difference in the education experience for some, and the well-being of our community as a whole.
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