[Casino Guide] Roulette!

[_duracell]

Guide to Roulette in WoW by lolk2

Well, for those of you looking for some guidelines on how to set up your casinos, here is the setup I am currently using.

I am using a very basic version of casino Roulette (the wheel game with 38 numbers). Here is how it works: The same basic rule as American Roulette applies.

The player tells me the number he wants to bet on and for how much gold, and then /rolls from 1 to 38. If he successfully rolls his number, his payout is 35-to-1. That means, if he bets 10g and wins, he gets 350g. If he fails to roll his number, I keep his bet.

I'm currently up about +470g over a 4 hour period. Then again, I've only had one winner so far who won a 70g payout on 2g.

Now the key to profit is how you set your betting limits. For example, if you set your betting minimum to 1g and maximum to 40g, you had better make sure you can afford a 1400g payout (40g x 35). So I would recommend beginning with a rather low betting limit, just to get off your feet.

Statistical Advantage

I'm not going to go in depth on game theory or the probability in your favor, but if you want proof that you (the casino) will have the statistical advantage over the player in the long run, here it is.



Basically, for every $1 (or 1g) the player bets, you can expect to gain a profit of +5% (or +.05g) on that bet. That means, for every 100g players bet with you, you will theoretically gain 5g. Now I know that doesn't seem like much, but trust me, it is. Casinos wouldn't offer Roulette if they weren't making a killing on it. Plus, the 35-to-1 payout attracts a LOT of people. You might even consider changing the payout. That is up to you.

I hope I've been helpful. Post any questions you have in this thread.

[_duracell]

Payout Calculator

I made this tool for everyone, also. What it does is it allows you to calculate the required payout ratio you need to use in order to theoretically make a certain amount of profit.

For example, say you want to make a 25% profit in total. That means, if players end up betting a total of 1,000g with you, you want to make a profit of +250g. You would, therefore, need to reduce your payout ratio down to 28-to-1.



Again, here is the link.

[nothinglol]

I'm going to try this, although you can make alot more money just by tweaking a few numbers. Most people won't really notice... XD

[Greed]

Actually gave me a very good idea so +rep.

[Temptz]

Indeed, great idea! Never thought of setting up a Casino like that. Will try, +rep

[Obama]

I might give it a try.

Thanks for the idea.

[_duracell]

Glad to help.


Also, I added a post here for the tool I made.

[Keffbug]

K2, That's some great information.

Thx
-Keff

[$Xeon$]

Nice idea thx

+rep

[SoliuZ]

Its against blizz/game rules and if a player lose to much and report you, you lose the gold ?

[SuperChickenofDoom]

Wrong. World of Warcraft - English (NA) Forums -> Player ran casino's

[MelonFarmer]

. .

[jubhub1013]

Great! This should be a fun money-maker +2rep

[Havocx]

Its really hard to get players due to a low chance of a player winning.

[_duracell]

Its really hard to get players due to a low chance of a player winning.

Well, you can always adjust the number of outcomes.

I had a guy come up to me and say that he'd bet 50g if he could roll from 1 to 15, instead of 1 to 38. I told him I could do that, but with a 10-to-1 payout instead of 35-to-1. Thinking he had a better chance to win the 500g this way, he took the bet.

But I still had the stat. advantage of a 25% profit: