This modification of the pay-table decreased the House Edge for the Tie bet, from 14.3% to 11.6%. All the other Tie outcomes will continue to be paid at 8 to 1.All Ties with outcomes values of 9, 8 and 0 will pay 9 to 1.Instead, we resorted to offering only selected Tie outcomes to be paid 9 to 1, while continuing paying 8 to 1 for the other outcomes, as follows: With the perception from a player’s point of view that it is only a difference of one unit (from 8 to 9), it was a fair assumption that our Tie Bet Participation would not increase by a factor of three times to break-even. This is a three-fold decrease, meaning a minimum of a three-fold increase in participation would be required to make up for the lower house edge. This was risky as the approach would lower the House Edge for the Tie from 14.3% to 4.8%. One option was to offer a payout of 9 to 1 instead of 8 to 1 for the Tie bet. Is there a sweet spot that we could offer and increase the excitement of hitting the Tie while betting on the Tie action? Could we achieve this while increasing our Baccarat Win? THE COUNTER-INTUITIVE STRATEGY: Lowering the house edge to incentivize participationĪrmed with more accurate data on our Baccarat Actual House Edge (and on our Baccarat players’ behaviour), our hypothesis was that we could increase participation by incentivizing patrons with a better payout (and lower house edge) on the Tie bet. In other words, when taking into account the additional $4.60 placed on Tie for each $100 on Banker/Player, the Actual House Edge is 50% greater than the initial 1.15% considered. This value of 1.73% represented the Actual House Edge for this particular Baccarat operation. This measurement allowed us to include the Tie House Edge in our blended Baccarat House Edge calculation, as follows: This meant that, when including the Tie bet participation, the distribution was 95.6% (for $100) on Banker/Player and 4.4% (for $4.60) on Tie, from the total of $104.60. From the data collected, we found that on average, for every $100 wagered on Banker/Player, an additional $4.60 was wagered on the Tie bet. To come up with an Actual House Edge in the case of Baccarat, operators can measure the participation frequency of the wagers on the Tie bet, relative to the total wagers on Banker/Player.Īt an operation that I managed, we manually sampled thousands of rounds played over the course of one month on eight Mass Gaming tables across different days of the week and times of the day.
This is the same challenge with the side-bets on other games, as discussed in our previous blog post.ĪCTUAL HOUSE EDGE Blending Non-Frequent Wagers into The House Edge In this Blended Baccarat House Edge calculation, the Tie Bet is excluded since the participation frequency on Tie is typically not accurately measured.
0 kommentar(er)
