Common Casino Games: Mean, Variance & Standard Deviation
At the extreme of volatility for blackjack side bets is the Lucky Ladies side bet (not included in the table). These games are for those who shun variance and want the lowest volatility. High variance games and wagers are for those who like a lot of volatility.
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Any time a player is dealt a high pair, he instantly wins 10 units, possibly a lot more. It quickly drains players who must play 4 wagering units per round to chase a possible win. It is almost as wild a ride as playing a number straight-up in roulette. There is a lot of similarity to playing a number straight-up in roulette (odds are 1-in-38 and pays 35-to-1) and playing a proposition bet on 2 or 12 in craps (odds are 1-in-36 and pays 30-to-1). The wagers in Figure 9 with the highest volatility are, in this order, Mississippi Stud, the Dragon 7 side bet in EZ Baccarat, playing a number straight-up in roulette, Let it Ride, and a 2 or 12 proposition bet in craps.
COMMON CASINO GAMES: MEAN, VARIANCE AND STANDARD DEVIATION
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Much like poker, roulette offers a handful of variations to its gaming system. A game designed for entertainment and great for first-timers, three card poker proves popular amongst regular casino goers. Around 20 players can join in to a single game, who each get a round of ‘shooting’ the dice. A timeless favourite for players who enjoy simple rules with strategic betting options.
Several types of bets can be made on the table action. Ranking the lowest in popularity but still widely played is Craps. Underage gambling is a criminal offence.
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