E:8 Understanding House Edge 101
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The Edge with Mark Thompson - Secrets of a Casino SuperHost
Whale Hunting In The Desert: The Secret of a Las Vegas Super Host Steve Cyr (Sear)
Average Whales these days is 100-250k. Asian customers still come with 500k-1M and they expect huge discount losses and higher limits. Lots of negotiating very Jerry Maguire style.
Average players used to be over 60, now they are under 45.
Great stories about being Larry Flynt from Hustler host.
Born in a barn in Kansas to Vegas SuperHost!
If there is one suite left who gets it? The foolish reckless roulette player or the blackjack strategist?
This interview contains many great stories from starting out by raiding the Caesars Palace dumpsters for tips to enticing people with sky villas!
Slot Whales??? $500 Video Poker? 400k Royal!
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Understanding House Edge 101
In short, what is the House Edge. How do I find it? What does it mean?
House edge is accomplished different ways for different games.
“The house edge is the percentage of money that the player can expect to lose on each bet, averaged over the long term. The payback is the percentage of money the player can expect to get back from each bet, averaged over the long term. If the payback rate is less then 100%, as it is in all commercial gambling, it means that on average the player will lose money. The house edge and the payback add up to 100%. In American roulette the payback percentage is 94.7% and the house edge is 5.3% (94.7 + 5.3 = 100%).” *
Comparisons on Hands per Hour v. House Edge for Casino Comp Purposes **
Frequent Players v. Infrequent Players ***
How does betting progression effect your bankroll and volatility ****
Here are some great links on the subject…