If you perform an experiment, a large number of times, the average of the obtained results should be close to the expected value. Fascinatingly, this will tend to become closer as more trials are performed. ## So What? A casino, may lose money in a single spin of a roullette wheel, however it’s earnings will tend towards a predictable percentage over a large number of spins. ## Casinos Interesting to note how **House Edge**, the **average gross profit** a Casino can make from a game, is such vital a component of their business model. They don’t want to bankrupt players, but want to ensure that leave with a **little less money** than what they came with. Blackjack has a house edge of ~<0.5%, Roulette ~5.26% & the lotto machines like keno ~25% A Misconception players have is good for the casino, as they lose more than they expect → the **house edge is not on your starting bankroll but on how much you wager.** The **longer you play**, **the greater the odds** are that the result of your play will match up with the house edge.