The house always wins. Sure, you might win in the short term, but if you gamble for an extended period of time you will lose money. Think about it... how would people be able to build multi million dollar casinos in Las Vegas unless they made profits, huge profits. No matter what game you play in a casino you lose money if you play long enough. So, why do people play if they know they will lose...
Essential Questions:
-Why does the house always win?
-Why do people play games when statistically they will lose?
-How can you design a casino game that will raise money for charity?
Deliverables:
-A game that has a house edge, but is fun to play for the players
-Cards, dice, coins, spinner
-A poster that explains how to play your game
-An explanation of your house edge
-Play analysis from exhibition night including
Exhibition Night Fundraiser
-Parents and community members can buy chips
-Money raised goes to charity
Texas Hold Em Extra Credit Game (between 8.4 and 13.4 percent house edge):
-Each student wagers 5 test points to enter the tournament
-Prize payouts are as follows:
-1st = 16.7% of total (25 points if 30 people play!)
-2nd = 13.3% of total
-3rd = 10% of total
-4th-8th = 8% of the total
-9th-10th = 3.3% of the total
-5% bounty for knocking Chris out
Example Test Questions
-You are playing single deck blackjack and have 16. The dealer is showing a Jack. What percentage chance to you have of busting if you take only one more card? Explain why.
-Your hole cards are 8 of hearts and Ace of hearts. The flop was 4 of hearts, 8 of clubs, and King of diamonds. What is your percentage chance of getting your flush?
-What percentage of the time will you win if you bet Red on Roulette?
-What are your odds of flipping a coin heads five times in a row?
-What are the odds of rolling a 7 in craps?
Probability Tree: http://www.youtube.com/watch?v=mkDzmI7YOx0
Probability Games: http://www.transum.org/software/sw/starter_of_the_day/Similar.asp?ID_Topic=30