Expected Return and Expected Value Calculation In Video Poker

If you choose to play video-poker online that uses the automated number generators such as RNGs, you may need to understand what expected return is all about. This is a terminology used to describe the rate of return to the player that one can anticipate receiving when playing a specific game of poker. The RTP can be calculated keeping in mind that the game will be played for quite a few rounds before players can achieve the expected return.

Expected Return and Expected Value Calculation In Video Poker

How to calculate the expected return?

Players can evaluate the return rate by drawing a comparison between the staked amounts that come with every winning hand in a specific game. This can be done using the number of coins placed as a bet and is written as %. In an occasion, if the odds to achieve a certain winning combo matched the reward amount for that combo, the return expected would be cent per cent. If the chance for a winning combo is around 25%, you can expect 4x the stake for that combination. This suggests a direct proportion between the payback% and the paytable for a particular game.

If your bet size is £350 on a game of full-paying Deuces Wild with the expected return as 100.76%, you can calculate it in pounds in the following manner. First, shift the decimal to its left and eliminate the % mark. With this, you will get a figure like this: 1.0076. Now, simply multiply this result with the total stake such as 1.0076 x £350 to get the final estimate = £352.66.

What is meant by the expected value?

Now that you’ve understood the concept of expected return and how it can be calculated in poker, here’s what expected value represents. Primarily, players need to know that any game can have a range of denominations though you see that in one video-poker machine, the variety of denominations is limited. However, on a wider scale, there are various kinds of machines which you may come across when playing poker. These could have anything from £.01, £.05, £.10, £.25, £.50, £1.00, £5.00, and likewise to £500.00. Most casinos place poker machines set with bigger denominations in a specific setting for high-rollers which could be above £10.00.

Once you choose your poker machine, you might want to calculate the actual bet. For this, the denomination you desire has to be multiplied by the highest coin stake. The maximum coin bet for most games is 5 coins. This means that if you are playing at a single poker machine with a denomination of £5, each bet you place can be calculated as £5 x 5 number of coins, amounting to £25.00.

Most poker machines provide players with a chance to play a maximum of hundred hands at a go. If you are looking for poker machine set with lower denominations, it is significant to evaluate the penny denominated machines carefully prior to wagering your money. The penny-denominated poker machines are typically multi-hand machines. These multiply the bet with the total number of times you played every game irrespective of how small your bet amount is. The inference drawn is that your expected value is represented by the amount you needs to be more after having played a game to your advantage for a specific time. This is thus dependent on an expected return and the amount of bet placed by the player.

Calculating the expected value in Poker

Here’s an example of how to calculate the expected value in a Deuces Wild game which pays full. An expected return on this game is 100.76% and if the player stakes £0.25 and bets with the highest number of coins as 5, the total wager/hand can be derived by multiplying £0.25X5 coins, i.e. £1.25.

It is taken into consideration that the player will play up to six hundred and fifty hands within one hour. This means that the cost of each hand can be calculated as £1.25X650 = £812.50. Then, this will have to be transformed as 1.0076 to calculate an expected return in pounds. An expected return on that game can then be estimated by first multiplying £812.50X1.0076 to get £818.68. Finally, this has to be subtracted from $812.50 to arrive at the final expected return value, which will be £6.18 in case of that exemplified above.

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Name: Expected Return and Expected Value Calculation In Video Poker

Posted On: 30/12/2018

Author: Darren Henley