Common Casino Games: Mean, Variance & Standard Deviation

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The four wagers listed for craps in Figure 9 illustrate that a player can pick and choose his variance. The player can wager on even/odd, a column, a number straight-up, or he can mix and match as he decides. Take note of the standard deviation for the roulette wagers listed in Figure 9. A player wins this bet by making a wager that a Banker three-card total of seven will beat the player’s hand. The single highest volatility hands for this game are four-ofa-kind and a royal flush. Let it Ride has dropped from a high of 221 tables in Nevada in 1996 to 121 tables in 2009 (see Appendix C).

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