So they really want and need that "beer" to keep their brains interested.
Mathematician Stan Ulam coined the once lottery results name in 1946, refering to the casino in Monaco where his uncle borrowed from family to gamble.
They'll say it's all so far past pie in the sky fantasy, that they want to ban.The reason that the house edge is relative to the original wager, not the average wager, is that it makes it easier for the player to estimate how much they will lose.But you can easily simulate all of these types of realistic scenarios with all of our financial planning software.In the next iteration, instead of continuing the next compounding period from -10 where it left off, it reverts back to original base trunk rate.So this page is here mostly to provide information that will help deflate the hype and put the tool in its proper place.Now about why the huge number of iteration runs a program simulates doesn't matter: Let's say, for example, that a Monte Carlo run generates a random simulated ten-year list of investment returns like this: The average annual compound rate of return over this ten-year horizon.As you can see, bonds can outperform stocks.Element of Risk For purposes of comparing one game to another I would like to propose a different measurement of risk, which I call the "element of risk." This measurement is defined as the average loss divided by total money bet.Free Bet - Use when extracting profit from a free bet or bonus.
So it is not a normally-distributed bell curve, like other vendors (nothing in money has a normal distribution curve in the Real World - so if you see one in money, then you know the creator is clueless).
So just take a step back to realize what you're doing.
You would have averaged a loss.50 every year for almost ten years if you would have invested in the S P 500 on, and then sold after everything financial melted down in January 2009: The next image shows the long-term returns of stocks.
Then there's more centered around.
Standard Deviation Number Probability.25.1974.50.3830.75.5468.00.6826.25.7888.50.8664.75.9198.00.9546.25.9756.50.9876.75.9940.00.9974.25.9988.50.9996.75.9998 Hold Although I do not mention hold percentages on my site.This one iteration would create one statistical data point with a 0 probability.Whatever caused X amount of sigma risk and/or volatility in the S P 500 in 1995 has near zero applicability to it today.If you are a professional financial adviser, and you're spending more than a minute explaining it, then you're failing by wasting their time on something "bogus." You're basically lying to them if you tell them this number has any real meaning, importance, validity, or relevance.For example if a player knows the house edge in blackjack.6 he can assume that for every 10 wager original wager he makes he will lose 6 cents on the average.Next, it's important to note that there must be a "goal" in the simulation.So when you tell it simulate using the S P 500's returns, then it's going to assume those long-term historical rates of returns (and/or standard deviations) - on all of the client's asset accounts.This statistic is commonly used to calculate the probability that the end result of a session of a defined number of bets will be within certain bounds.The only other goals it can solve for are things like college planning.