|6 results found [Clear]|
|Average Daily Theoretical||
The average amount that a gambler losses per day for a certain gambling activity. Usually Average Daily Theoretical is expressed in absolute terms (such as dollars) rather then relative (percentage) units. Also "Average Daily Theo"
See also: Theo.
The value the probability function subject to the Central Limit theorem ultimately reaches.
See also: Central Limit Theorem.
|Central Limit Theorem||
A mathematical theorem that states, for any set of independent random variates with finite variance, that the cumulative distribution function of a normalized (scaled) sum of such variates approaches the cumulative distribution function for a normal distribution, as the number of variates increases. Under certain circumstance, the theorem states that the width of the central region of the associated probability distribution function narrows, and approaches zero, as the number of random trials (variants) increases and that the shape (of the central region) of the PDF approaches a normal PDF as the number of trials increases. If all variates are from a single uncorrelated random process, the theorem states that variance decreases as 1/sqrt(n) where n is the number of trials. Since each video poker hand is independent of all other hands, and since video poker's variance is finite, The Central Limit Theorem holds for all video poker, and the variance scales as 1/sqrt(n), where n is the number of hands. However, at the same time, the total bet or coin-in has been increasing proportional to n. Thus the variance in real units (dollars) increases without limit as the player continues to gamble.
See also: PDF, Coin-in, Variance, Central Limit.
|Hold||The amount a game return to the casino. That is the Hold is the amount players lose. Casinos set the theo at or below the Hold.|
|Theoretical||The amount (expressed in percent or real units) a casino assumes certain play is worth to them. Hence, a positive Theoretical is an assumed loss to the the player. A casino typically comps players based on their actual Theoretical. For example, a casino may assign a certain game a Theoretical of 5%. Assuming a player's coin-in is $10,000, a casino would then limit total comps to some fraction (less then one) of the theo, $500. If the player had the same coin-in on a game with 1% Theoretical, the comps would have been limited to some fraction of $100.|