It allows to forecast probable gain and loss of the player. It is defined
as the result of frequency of happening for an event by one of its attached parameters. If the bet of a play of heads or tails amoutns
to 10 euros (parameter), mathematical expectancy for each of the two players will be of ½ x 10 = 5 euros. The bet (5 euros for each)
is equivalent to mathematical expectancy. With numerous tries, it is possible to win on average once every two tries, which is
considered to be equitable ; in the end gains and losses are near 0. When the bet is superior to mathematical expectancy the game
becomes inequitable and concludes on average with a deficit of the player.
Chance games in Casinos
Chance games are legally
practised in special institutions (private clubs, casinos). They are strictly regulated and controlled because amounts circulating are
often significant.
All those games become unbalanced by the difference between the amount a player should bet to win for sure
and the one he acquires in case of success. A casino is sure to win 1.37% of the bets of all roulette players, despite amounts given
to lucky gamblers having chosen the right number.
