🔔 In this video I show you how to use Microsoft Excel to calculate the house edge for a dice game. I go through combinatorics mathematics, as well as probability, returns, bet sizes, and finally ways to manipulate the game so the house always wins! 🔔
✅ Number of outcomes for win conditions calculated
✅ Probabilities for each outcome calculated
✅ Return on investment (winnings) for each outcome determined
✅ Overall house edge determined and explained
⏱ Timestamps:
0:00 – 1:21 intro and summary of first video
1:21 - 7:41 calculating the combinations of outcomes
7:41 - 8:51 calculating probabilities for each of the outcomes
8:51 - 10:44 determining returns (winnings) for each outcome
10:44 - 11:44 determining house edge using expected values
11:44 - 15:22 discussion of house edges and optimising the game
15:22 - 15:47 outro
