An online slot machine has a variance (low,med,high) and house edge. Based on these figures, I need the SD (standard deviation) & pay tables (probability & payout) creating that will enable use to simulate how the slot may perform.
I'm looking for someone to point me in the right direction with regards to online slot machine calculations. Please apply if you have any previous knowledge of working on the following:
Slot Machine Simulator:
Software currently doing the simulation: http://www.skytopia.com/software/bonuschum/
I’m looking to simulate how a user may do when playing an online slot machine. Please find below a list of attributes that
Slot Machine Details:
• House Edge (%)
• Variance Type (low, medium, high)
• Deposit (£)
• Bonus (£)
• Wagering Requirements (£)
• Bet Size (£)
Output Values Required:
• EV (Estimated Value) (£)
• Bust Rate (%)
• Avg Wagering (£)
A user may deposit £50, the get a £50 bonus, but in order to withdraw the funds they need to first need to wager £5000 on slot machines. A user selects a slot machine to pay, the chose to play a low variance slot machine with house edge of 3%, each spin will cost them £1.
Based on the above figures, we need to be able to work out the following:
Estimated value: as the user is given £50 free bonus from the casino, once they complete wagering, they will be left with the estimated value
ev = bonus –(wagering * house edge)
However , as some users will not complete the wagering requirements, we need to change the above formula to
Ev = bonus – (avg. wagering * house edge)
Each slot machine has a payout table (probability & payout). I believe the way in which Bonuschum is simulating is by using this payout table and look at how much the user is making per hand. If the user loses who whole deposit & bonus then they have busted out and have no need to continue completing the wagering.
From the above, this is where the bust out rate and average wagering figures come from.
If we simulate 1,000,000 users playing, we can find out the average EV, Bust out % and average wagering amounts.
1. How to calculate the SD & Paytable for a specific slot type?
For example 4.8199. BY changing the slot variance type (low, med, high) & house edge this changes the SD and paytable.
2. Is a number chosen at random in the simulation? Does this random number then get used to see how much the user may have made from the spin using the paytable?
Detailed descriptions & formulas of how the required values are calculated.