Why You Shouldn't Gamble Jessalynn Goulette / Savanna Menne / Sinai Forbes

Potential Dangers and Effects

  • Experience of the game affects the likeliness of developing a gambling addiction
  • In the moment of gambling adrenaline affects your impulsiveness, possibly making you place higher bets, resulting in higher losses
  • 1,242,299 people are addicted to gambling
  • Cheating can result in jail which can cause family problems
  • Gambling takes a lot of money
  • It can cause divorce, loss of friends, job, family, children, and house
The Main Reason why you shouldn't gamble or play big wheel six is because of the horrible odds

Big six wheel

"Big Six" allows a person to win up to 45 times their original bet in a single spin! It consists of 54 equal sections on a wheel spun by a dealer. When you approach the table you place your bet on what number or symbol it will land on.

Odds

  • $1 pays 1 to 1
  • 2$ pays 2 to 1
  • 5$ pays 5 to 1
  • 10$ pays 10 to 1
  • 20$ pays 20 to 1
  • Joker pays 40 to 1
  • Casino Logo pays 40 or 45 to 1

Meaning that if you place a bet that the wheel will land on 10 and it does, you will win 10 times the amount of money you bet, if it does not you will lose your wager.

Don't let this be you. know your expected values, Probabilities, and odds of a game before you lose all of your money.

Probabilities

  • 45% chance of getting a 1
  • 28% chance of getting a 2
  • 13% chance of getting a 5
  • 8% chance of getting a 10
  • 4% chance of getting a 20
  • 2% chance of getting a joker or a logo

45%

45% is the possibility of getting your money back when you bet on one. The chance of losing your money is over 50%, that mean you have less than half of a chance for the most probable outcome. Because when you bet on one you would only get the money back you bet the next most probable outcome, two, where you would get double your money if you bet on it, would be 28%, meaning that the most probable outcome you could gain money on is unlikely.

Expected Values

A predicted value of a variable, Calculated as the sum of all possibilities each multiplied by the probability of its occurrence.
  • E.V. of 1 = 0.1 or -1 cents per dollar
  • E.V. of 2 = 0.16 or -1.6 cents per dollar
  • E.V. of 5 = 0.2 or -2 cents per dollar
  • E.V. of 10 = 0.18 or -1.8 cents per dollar
  • E.V of 20 = 0.22 or -2.2 cents per dollar
  • E.V of Logo = 0.26 or -2.6 cents per dollar
  • E.V. of Joker = 0.26 or -2.6 cents per dollar

Cites

http://www.gamblingrecovery.org/prevalence-of-problem-gambling.php

Psychology class

https://www.google.com/webhp?sourceid=chrome-instant&ion=1&espv=2&ie=UTF-8&safe=active&ssui=on#safe=active&ssui=on&q=expected%20value%20definition

Credits:

Created with images by Steve A Johnson - "Dice" • blueMix - "child crying kid"

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