How dose the house always win? Are they simply cheating?
In: Mathematics
Odds are alway in the favor of the House. Take Roulette: playing single numbers the payout is 35/1, so for a $1 bet you get $35. But there are 38 numbers to bet (1-36, 0 and 00). So, if there is $1 on every number, someone is guaranteed to win $35, but the house made $38 on that roll. (And as it’s seldom every number is bet, many times the House wins without having to pay out.). The payout of 35/1 but the odds of losing 38/1.
Now say you’re the only person playing and you place $1 on one number and win. For that hand the House lost money. But over time it averages out to the odds and the House makes more than it pays out.
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