top button
Flag Notify
    Connect to us
      Site Registration

Site Registration

What should casino charge to avoid any losses and making long term profit?

0 votes
1,655 views

A casino wants to launch a new game, In the game a player is asked to roll two dices and he gets away with the money equal to the sum of the dices outcome.

Player needs to buy the chance every time he plays, What should casino should charge so that it can make long term profit and can avoid losses.

posted May 29, 2014 by anonymous

Share this puzzle
Facebook Share Button Twitter Share Button LinkedIn Share Button

1 Answer

+1 vote

The statistical average result is a 7. If you charge $7 you will break even in the long run. If you charge $8 nobody will play because it's obvious that they lose money. So the casino instead charges $6 then rigs the dice so that you can't get more than a 3 on either one. This is how they maximize the profit. Casinos are filthy cheaters.

answer Jun 2, 2014 by anonymous



Similar Puzzles
+1 vote

A woman bought a used car for $600 and sold it a friend for $800. She later bought it back for $1,000 and resold it for $1,200. Did she make any profit and if so, how much?

0 votes

You have a basketball hoop and someone says that you can play one of two games.
Game1 : You get one shot to make the hoop.
Game2 : You get three shots and you have to make two of three shots.
If p is the probability of making a particular shot, for which values of p should you pick Game1 or Game2?

0 votes

A man has a medical condition that requires him to take two kinds of pills, call them A and B. The man must take exactly one A pill and exactly one B pill each day, or he will die. The pills are taken by first dissolving them in water.

The man has a jar of A pills and a jar of B pills. One day, as he is about to take his pills, he takes out one A pill from the A jar and puts it in a glass of water. Then he accidentally takes out two B pills from the B jar and puts them in the water. Now, he is in the situation of having a glass of water with three dissolved pills, one A pill and two B pills. Unfortunately, the pills are very expensive, so the thought of throwing out the water with the 3 pills and starting over is out of the question. How should the man proceed in order to get the right quantity of A and B while not wasting any pills?

...