Economic and Game Theory
|"Inside every small problem is a large problem struggling to get out."|
Thread and Full Text View
My belief is that they are NOT because the casino is the bank and players can all win or all lose, and these games are not zero sum because the house has an edge or advantage on all payoffs which eliminates the standard of a fixed pool of winnable goods.
For example in craps: a player bets $5 on the 4, betting that each time a 4 is rolled before a 7 he will be paid $9 by the house. If the 7 is rolled before a 4 the player loses his $5 bet.
Can anyone help? I have not found any distinct information about casino games adn the rules of zero sum games. Many thanks. An email response is appreciated. [Manage messages]