Gambling Wheel
Introduction
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The Money Wheel was launched at the Jackpot Casino in Red Deer, Alberta, in June 2011. It is a variation of Big Six, which is the game with the large vertical wheel, usually found near the entrance of casinos and usually dealt by an attractive female dealer. What makes the Money Wheel different is 56 stops instead of 54, and some of them are multipliers. The house edge is also much lower than Big Six, as my analysis below will show.
Rules
- The player may bet on $1, $2, $5, $10, $20, or $40.
- All bets are paid on a to one basis according to the odds of the bet itself. For example, a bet on $5 would pay 5 to 1.
- Four positions on the wheel will multiply any win, known as a Lucky Lucky. Two Lucky Lucky spots multiply the next win by 2x, one 3x, and one 5x. If Lucky Lucky sounds familiar, it is because Lucky Lucky is also a blackjack side bet, both invented by the owner of the Jackpot Casino.
- If the wheel stops in any Lucky Lucky, then all bets will remain in place. No new bets will be allowed. The outcome of the next spin will determine the winning wager, as usual, but the odds will be multiplied by 2, 3, or 5, depending on which Lucky Lucky the wheel stopped in the previous spin.
- In the event the wheel stops in a Lucky Lucky twice in a row, then all wagers will lose.
- The following table shows how the wheel is apportioned.
Let's look at an example. The player bet $20 on the $5 spot. The wheel lands in the 3x Lucky Lucky. The next spin it lands in $5. The player would win $20×$5×3=$300.
Money Wheel Distribution
Stop | Number on Wheel |
---|---|
$1 | 23 |
$2 | 15 |
$5 | 7 |
$10 | 4 |
$20 | 2 |
$40 | 1 |
2x Multiplier | 2 |
3x Multiplier | 1 |
5x Multiplier | 1 |
Analysis
Lottery government tax. The following table shows the possible outcomes for the $1 bet. The lower right cell shows a house edge of 6.12%.
$1 Bet Analysis
Event | Pays | Combinations | Probability | Return |
---|---|---|---|---|
5x Lucky Lucky win | 5 | 23 | 0.007334 | 0.036671 |
3x Lucky Lucky win | 3 | 23 | 0.007334 | 0.022003 |
2x Lucky Lucky win | 2 | 46 | 0.014668 | 0.029337 |
Standard win | 1 | 1288 | 0.410714 | 0.410714 |
Loss | -1 | 1756 | 0.559949 | -0.559949 |
Total | 3136 | 1.000000 | -0.061224 |
The following table shows the possible outcomes for the $2 bet. The lower right cell shows a house edge of 6.25%.
$2 Bet Analysis
Event | Pays | Combinations | Probability | Return |
---|---|---|---|---|
5x Lucky Lucky win | 10 | 15 | 0.004783 | 0.047832 |
3x Lucky Lucky win | 6 | 15 | 0.004783 | 0.028699 |
2x Lucky Lucky win | 4 | 30 | 0.009566 | 0.038265 |
Standard win | 2 | 840 | 0.267857 | 0.535714 |
Loss | -1 | 2236 | 0.713010 | -0.713010 |
Total | 3136 | 1.000000 | -0.062500 |
Casino no deposit required. The following table shows the possible outcomes for the $5 bet. The lower right cell shows a house edge of 10.71%.
$5 Bet Analysis
Event | Pays | Combinations | Probability | Return |
---|---|---|---|---|
5x Lucky Lucky win | 25 | 7 | 0.002232 | 0.055804 |
3x Lucky Lucky win | 15 | 7 | 0.002232 | 0.033482 |
2x Lucky Lucky win | 10 | 14 | 0.004464 | 0.044643 |
Standard win | 5 | 392 | 0.125000 | 0.625000 |
Loss | -1 | 2716 | 0.866071 | -0.866071 |
Total | 3136 | 1.000000 | -0.107143 |
The following table shows the possible outcomes for the $10 bet. The lower right cell shows a house edge of 5.61%.
$10 Bet Analysis
Event | Pays | Combinations | Probability | Return |
---|---|---|---|---|
5x Lucky Lucky win | 50 | 4 | 0.001276 | 0.063776 |
3x Lucky Lucky win | 30 | 4 | 0.001276 | 0.038265 |
2x Lucky Lucky win | 20 | 8 | 0.002551 | 0.051020 |
Standard win | 10 | 224 | 0.071429 | 0.714286 |
Loss | -1 | 2896 | 0.923469 | -0.923469 |
Total | 3136 | 1.000000 | -0.056122 |
The following table shows the possible outcomes for the $20 bet. The lower right cell shows a house edge of 9.44%.
$20 Bet Analysis
Event | Pays | Combinations | Probability | Return |
---|---|---|---|---|
5x Lucky Lucky win | 100 | 2 | 0.000638 | 0.063776 |
3x Lucky Lucky win | 60 | 2 | 0.000638 | 0.038265 |
2x Lucky Lucky win | 40 | 4 | 0.001276 | 0.051020 |
Standard win | 20 | 112 | 0.035714 | 0.714286 |
Loss | -1 | 3016 | 0.961735 | -0.961735 |
Total | 3136 | 1.000000 | -0.094388 |
The following table shows the possible outcomes for the $40 bet. The lower right cell shows a house edge of 11.35%.
$40 Bet Analysis
Event | Pays | Combinations | Probability | Return |
---|---|---|---|---|
5x Lucky Lucky win | 200 | 1 | 0.000319 | 0.063776 |
3x Lucky Lucky win | 120 | 1 | 0.000319 | 0.038265 |
2x Lucky Lucky win | 80 | 2 | 0.000638 | 0.051020 |
Standard win | 40 | 56 | 0.017857 | 0.714286 |
Loss | -1 | 3076 | 0.980867 | -0.980867 |
Total | 3136 | 1.000000 | -0.113520 |
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Strategy
The lowest house edge is on the $10 at 5.61%. My advice is to bet on that only.
Gambling Wheel Games
Comparison to Big Six
The following table compares the Money Wheel to four versions of Big Six, also known as the Wheel of Fortune. As you can see, the average house edge is much lower on the Money Wheel compared to American Big Six. You would have to go to Australia to get a better average bet on a vertical wheel. The best single bet anywhere, including Australia, is the $10 at 5.61% house edge on the Money Wheel. Best payout slots at mohegan sun.
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Money Wheel to Big Six Comparison
Bet | Money Wheel | Big Six Las Vegas | Big Six Atlantic City | Macau | Australia |
---|---|---|---|---|---|
$1 | 6.12% | 11.11% | 11.11% | 7.69% | 7.69% |
$2 | 6.25% | 16.67% | 16.67% | ||
$3 | 7.69% | 7.69% | |||
$5 | 10.71% | 22.22% | 22.22% | 7.69% | 7.69% |
$10 | 5.61% | 18.52% | 18.52% | 15.38% | |
$11 | 7.69% | ||||
$20 | 9.44% | 22.22% | 22.22% | 19.23% | |
$23 | 7.69% | ||||
$40 | 11.35% | 24.07% | |||
$45 | 14.81% | 11.54% | |||
$47 | 7.69% | ||||
Average | 8.25% | 19.14% | 17.59% | 11.54% | 7.69% |