How to Calculate Your Expected Value in 7s Wild Gold
Understanding Expected Value: A Crucial Aspect of Gambling
Expected value (EV) is a fundamental concept in probability theory that helps gamblers make informed decisions about their bets. It’s a statistical measure that indicates the average return on investment, taking into account the probability of winning and losing.
In this article, we’ll focus on calculating EV for one https://7swildgoldsite.com/ specific game: 7s Wild Gold, a popular online slot machine developed by Microgaming. We’ll break down the calculation process into manageable steps, making it easier to grasp the concept even for those new to EV.
What is Expected Value?
Expected value is calculated as the sum of each possible outcome multiplied by its probability of occurrence. In other words, it’s an average value that represents what a gambler can expect to win or lose over time. The formula for calculating EV is:
EV = (probability of winning) x (amount won) – (probability of losing) x (amount lost)
For example, if a game has a 50% chance of winning $1 and a 50% chance of losing $1, the EV would be:
EV = (0.5) x ($1) – (0.5) x (-$1) = $0
This means that in this hypothetical scenario, every dollar invested would break even on average.
Calculating EV for 7s Wild Gold
To calculate the EV of a specific bet or spin, we need to consider two primary factors: the payout and the probability of winning. For 7s Wild Gold, let’s analyze the basic rules:
- The game features 25 paylines
- Symbols include Wilds (represented by 7s), scatters, and low-paying symbols
- A 5-reel layout means there are numerous possible combinations for winning
We’ll use a simplified example to demonstrate how to calculate EV. Let’s assume we’re playing the highest bet of $10 per spin.
Payout Analysis
To calculate EV, we need to identify the average payout for each symbol combination. Since this is an online slot machine, exact payout data might not be publicly available; however, we can use some general information about Microgaming slots:
- For a typical 5-reel online slot, the RTP (return-to-player) percentage usually ranges from 90% to 98%
- Assume our game has a moderate RTP of 95%
For simplicity, let’s consider only three types of wins: low-paying symbols ($0.10-$1), medium-paying symbols ($2-$5), and high-paying symbols ($50-$100).
Calculating Probability
To calculate the EV, we need to know the probability of winning with each type of symbol combination. This is a complex task due to the numerous possible combinations in a 25-payline slot.
For our example, let’s assume:
- The probability of hitting any low-paying symbol combination is approximately 10% (1/10)
- Medium-paying symbols occur about 5% of the time (1/20)
- High-paying symbols are relatively rare, occurring only around 2% of the time (1/50)
Keep in mind that these probabilities are simplified and might not reflect real-world values.
Calculating EV for Each Type of Win
Let’s apply our simplified probability data to calculate the EV for each type of win. We’ll use the following formula:
EV = (probability of winning) x (amount won) – (probability of losing) x (amount lost)
Assuming a $10 bet per spin, we’ll consider only the payout values mentioned earlier.
Low-Paying Symbol Win: EV ≈ 0.10 ($1) – 0.90 (-$10) = -$9
Medium-Paying Symbol Win: EV ≈ 0.05 ($5) – 0.95 (-$10) = $-4.75
High-Paying Symbol Win: EV ≈ 0.02 ($100) – 0.98 (-$10) = $-1.90
