For example, let's assume that Blackjack gives the house a 1% edge (this is purely an assumption, not the actual odds). If the average bet is $10, how much money is the house expected to make after one million hands?
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I don't understand how you present the problem. Regardless of the size of the average bet, there is no way to predict how many rounds of betting will occur in each hand.
I'm not a gambler but assumed that the house would take its percentage from the size of the pot at the end of each game/hand.
$10 x 1,000,000 = $10,000,000 x 1% (.01) = $100,000.
I'm not a gambler but assumed that the house would take its percentage from the size of the pot at the end of each game/hand.
$10 x 1,000,000 = $10,000,000 x 1% (.01) = $100,000.