Common Casino Games: Mean, Variance & Standard Deviation

Take note of the standard deviation for the roulette wagers listed in Figure 9. In general, only progressive and streak side bets have a higher level of volatility. The odds are about 1-in 44.38 and this side bet pays 40-to-1. A side bet that is even more volatile than Lucky Ladies is the Dragon 7 side bet in EZ Baccarat. The single highest volatility hands for this game are four-ofa-kind and a royal flush.

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• It is important to remember that players are never guaranteed a win.
• The four wagers listed for craps in Figure 9 illustrate that a player can pick and choose his variance.
• A solid starting point is to participate in a low-budget poker tournament, perhaps with a buy-in of around £20.

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