Casinos are in a very competitive industry and their currency is visitors.
It’s important to entice visitors with beautiful, luxurious and exciting gambling casinos. But this comes with its own set of challenges: one of the big disadvantages today is that the casino���s total value of games and
services might not be easy to see from the traditional perspective that customers face on arriving.
The entertainment value shapes our impression of a casino. While customers may overlook the hotel rates as they seek tables or slots to play, they will remember how expensive it was if they want out before they lost money or felt like they were being taken advantage of by any sort of fake promises (think free buffets or used cars). In order to maximize profits, businesses need to work on both the in-casino experience as well as their public perception because these two things influence how many people visit casinos.
What is Total Casino Value?
In simple terms, the total casino value consists of all the money the player has spent while gambling. It also incorporates returns; including, odds and other earnings taken by house. In other words, it is how much money a player gambles with minus what is won back.
How to Calculate the Total Casino Value of a Game
Casino game total value is a metric used to establish the mathematically rounded measure of the payout to players by a casino. It’s sometimes called the “expected payback percentage.”
It can be calculated by adding up all the expected net winnings for each possible bet for a game, weighting them by their respective payouts (i.e., $10 per every $1 bet) and dividing them by 10 or less, as there will never be an expected loss due to zero payment on a hand that can’t win something.
One way to calculate an unrounded casino game total value is to divide 100% by 10 and then take into account any discounts that may apply.
This article will help you calculate the total casino value of a game with some simple math and guidelines.
1) Every player has to eventually play 100 times with 50 times always won by the house, 2) The average payoff or payout percentage of a slot machine is 85%, 3) A 1% increase in payout percentage increases profitability by 10%.
Therefore, you can calculate the casino value for specific game amounts as below:
Game amount –
For 100 players
Amount 70 will be given to all winners (won 50 of 100 times)= $70000 Amount 30 given back to all losers= $3000
Therefore, the total casino value can be calculated as 70000+3000=73000
What are the Benefits of Knowing the Total Casino Value of a Game?
Not many people know this but knowing the total casino value of a slot machine/game changes how a player experiences them in gambling.
How much money is in the machine changes how we play! When playing with 100 million, players seem to only play once, while they may never stop playing with 1 coin! That’s because the machine is “full” and the player feels less lonely.
Knowing what amount we are playing at not only affects our own personal gambling experience – it impacts other people who happen to see us too – and whether or not their gamblers’ luck will change for that one particular game!
More often than not, most people think that understanding total casino value is complex. But the truth is, anyone can find it out with knowing how their internet browser works.
For sure casinos follow to objectives such as retaining regulars and ensuring they are more likely to retain more new customers. There are many ways in which the casino can improve its overall customer’s goodwill by supplying better information of casinos via the internet browser plugins which will save your favorite casino from sharing data with a third party website.
Why Knowing the Total Casino Value is Important for Gamblers
Learning to calculate and monitor your total Casino value (TCV) is important for gamblers. Our TCV represents the net sum of our Casino actions. When we gamble as a way to counter stress, it’s best if the joys we derive in gambling are higher than the suffering.
Playing at a casino can be stressful, but it helps reduce stress if we do gamble responsibly. The joys of gambling should outweigh the suffering by playing to our strengths which include controlling losses and making sensible bets that involve mathematics or betting on our favourite things (sports or games, for example).
Knowing your gambling limits is key. But, there are some more statistics which can help you make a more informed decision. Odds, total casino value and what’s the return on investment (ROI) are all numbers that you should be taking into account when you gamble offline or like for poker in a casino or withdraw to gamble online.
Knowing about odds gives different perspectives to people that want to play fair by offering them good probabilities of winning a certain amount and those who don’t care about being moral at all.
If you interested open an online casino website, start learn more details with us.
You can try casino online gambling with our website here.
If you want to own a casino website, invest less, have easy back-end management system that can apply here.