Question-
House edge is the casino's advantage over players. How can you calculate the house edge for a simple bet in a game like roulette?
Challenges Faced-
Understanding expected value (EV) calculations.
Accounting for different types of bets and odds.
Ensuring fairness while keeping profitability.
Solution-
In a European roulette (single zero), a bet on red/black wins 18/37 times and loses 19/37 times.
python
win_probability = 18/37
lose_probability = 19/37
payout = 2 # You get double the money on win
expected_value = (win_probability * payout) - (lose_probability * 1)
house_edge = -expected_value * 100 # Convert to percentage
print(f"House Edge: {house_edge:.2f}%")
🔹 Result: House edge = 2.70%, meaning the casino expects to make 2.7% of every wagered amount.
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