How would I factor in free play when calculating RoR?
For example, playing a game with 1% player edge, and after every 500 hands played, I receive $100 in free play
Why Bother. Your 100 free play is worth less than your edge of 1%, ergo, it’s less than a buck, since I think most joints will only pay even on blackjack.
Now, if you want to treat the 100 as 100 profit, then 500 times your average bet - let’s say 100, multiply by your edge, add the 100 free play and recalculate your edge.
500x100=50000x1%=500+100=600. Edge is now 1.2%. Now, make your ROR calculation.
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Yes i just count free play as cash. I didnt know if just factoring in to your over all edge was the same because its guaranteed AV vs EV..
The numbers i used was an example.
So, lets say im playing NSUD 99.73% payback, and after every $10,000 coin in they give me $100 cash. Do i simply just caluclate my ror using a player edge of 0.73% (with game payback now of 100.73%)
The $100 cash they give me is AV not EV.. but that doesnt matter i can just say the game gives back 100.73%?
Essentially, yes. The one inconsequential difference is that you have an e.v. of $9,973, which is subject to variance. After $10,000 coin in, your result could be anything. But the $100 is guaranteed and isn't subject to variance. You will have that with certainty (unless the casino reneges on its promise).
Don
I don't understand this statement. Why would there be no variance for the free play? Variance is the square of the difference between average results and actual results divided by the number of data points in the data array. The calculated EV you mention is the average results. I get that free play isn't going to make you lose money. But isn't there still variance associated with playing it. I would think the only incentive that isn't subject to variance is a cash rebate. What am I missing or not thinking through properly? Is the variance on 1 free bet, where you can't lose money, out of so many actual bets just negated as insignificant?
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