How do you calculate the expected value of slot machine?

[Hasan77]

The expected value of a slot machine can be calculated by considering the probabilities of winning and the associated payouts. Here's a step-by-step guide to calculating the expected value:

Determine the probabilities: The first step is to determine the probability of winning for each possible outcome on the slot machine. This involves analyzing the machine's paytable and understanding the odds of landing different combinations or symbols.

Identify the payouts: Once you know the probabilities, you need to determine the corresponding payouts for each winning outcome. The paytable usually provides this information, indicating how much you would win for each winning combination.

Calculate the expected value: To calculate the expected value, multiply each payout by its probability of occurring, and then sum up all these values. The formula for expected value (EV) is:

EV = (P1 x V1) + (P2 x V2) + ... + (Pn x Vn)

Where:

P1, P2, ..., Pn represent the probabilities of winning for each outcome.
V1, V2, ..., Vn represent the corresponding payouts for each outcome.


How do you calculate the expected value of slot machine?

 

[Baniro]

To calculate the expected value of a slot machine, you need to know the probabilities of each possible outcome and the corresponding payouts for those outcomes. The expected value represents the average amount you can expect to win or lose per bet over the long run.

Here's a step-by-step process to calculate the expected value of a slot machine:

Identify all the possible outcomes: Determine the various combinations or symbols that can appear on each reel of the slot machine.

Assign probabilities: Determine the probability of each possible outcome occurring. This requires knowledge of the slot machine's programming and the likelihood of each symbol appearing on each reel. Typically, the probabilities are not disclosed publicly, so you may need to estimate them based on observations or industry knowledge.

 

[Dallax]

Calculate the likelihood that each scenario will play out. This calls for an understanding of the programming of the slot machine and the probability of each symbol occurring on each reel. You may need to make an educated guess based on your observations or your expertise of the sector because the odds are typically not made publicly available.

 

[Crazy_winner]

Multiply the likelihood of each winning event by the related reward. This computation provides the predicted value for that particular outcome. Add the predicted values for all potential winning scenarios. This is the total predicted value for a single slot machine spin or play.

 

[James108]

Identify all possible winning combinations and their respective payouts from the pay table or help screen. For each winning combination, multiply the payout amount by the probability of hitting that combination on a single spin. Subtract the cost of spinning from the total expected value.