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Craps Math Business Strategy

The document outlines the math formulas used for calculating expected profits in a casino dealing context, specifically for a craps table. It provides values for the number of rolls, time period, total amount wagered, and house edge, leading to an expected profit of $50 every 40 minutes, $75 per hour, and $450 for a 6-hour shift. These calculations are essential for understanding the financial performance of a craps table in a casino setting.

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11 views2 pages

Craps Math Business Strategy

The document outlines the math formulas used for calculating expected profits in a casino dealing context, specifically for a craps table. It provides values for the number of rolls, time period, total amount wagered, and house edge, leading to an expected profit of $50 every 40 minutes, $75 per hour, and $450 for a 6-hour shift. These calculations are essential for understanding the financial performance of a craps table in a casino setting.

Uploaded by

sigmalambda007
Copyright
© All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd

Casino Dealing Certificate Program Business

Strategy
Craps Table Math Formula

Craps Table Math Values:


 R=40 ; Number of rolls in the period
2
 T =40 /60= hour; Time of the period (in hours)
3
 B=5,000 ; Total amount wagered (“action”)
 E=0.01 ; House edge (decimal)

1. Expected Profit
Formula: PT =B × E ; Expected profit per hour
o PT =5,000 ×0.01=50

Answer: $50 profit every 40 minutes

2. Profit Per Hour


PT
Phour =
T
50 3
Phour = =50 × =75
2 2
3
Answer = $75 Expected profit per hour

3. Profit for a 6-Hour Shift


Pshift =Phour ×6
Pshift =75 ×6=450
Answer = $450 Expected profit per 6-hour shift

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