Expected Loss Per Visit Calculator
Planning a casino visit? Understanding the mathematical cost of gambling helps make informed entertainment decisions. This calculator estimates your expected losses across multiple games during a complete casino visit, showing the true cost of gambling as entertainment.
Unlike single-game calculators, this tool lets you plan a realistic multi-game session. Most casino visitors play several different games during a visit, from table games like blackjack and baccarat to slot machines and roulette. Each game has a different house edge, bet size, and pace of play, all affecting your total expected cost.
Build Your Casino Visit
Add games you plan to play during your visit. Include time spent and typical bet size for each game.
Game 1
Common Visit Profiles
Click a scenario to see the full breakdown. These represent typical gambling visits based on research from casino economics studies.
Casual Tourist
- 30 min blackjack @ $10
- 30 min roulette @ $5
- 1 hour slots @ $0.50
Weekend Visitor
- 2 hours blackjack @ $25
- 1 hour baccarat @ $50
- 1 hour roulette @ $25
- 1 hour slots @ $2
Regular Player
- 4 hours blackjack @ $50
- 2 hours baccarat @ $100
- 2 hours craps @ $25
High Roller
- 3 hours baccarat @ $500
- 2 hours blackjack @ $200
- 1 hour pai gow @ $300
Slots Enthusiast
- 2 hours penny slots @ $1.50
- 2 hours $1 slots @ $3
Kangwon Land Day Trip
- 2 hours baccarat @ ₩50,000
- 1 hour blackjack @ ₩30,000
- 2 hours slots @ ₩10,000
Casino Game Reference
Understanding house edge and game pace helps estimate gambling costs. Games with lower house edge and slower pace cost less per hour.
| Game / Bet | House Edge | Bets/Hour | Cost per Hour ($25 bet) |
|---|---|---|---|
| Blackjack (Basic Strategy) | 0.5% | 80 | $10.00 |
| Blackjack (Average Player) | 2.0% | 80 | $40.00 |
| Baccarat (Banker) | 1.06% | 75 | $19.88 |
| Baccarat (Player) | 1.24% | 75 | $23.25 |
| Craps (Pass Line) | 1.41% | 50 | $17.63 |
| Roulette (Single Zero) | 2.7% | 35 | $23.63 |
| Roulette (Double Zero) | 5.26% | 35 | $46.03 |
| Pai Gow Poker | 2.5% | 30 | $18.75 |
| Caribbean Stud | 5.22% | 40 | $52.20 |
| Slots (Loose - 95% RTP) | 5.0% | 500 | $625.00 |
| Slots (Tight - 90% RTP) | 10.0% | 500 | $1,250.00 |
| Keno | 25-30% | 15 | $93.75 |
Key Insight: Slots appear cheap per spin but the high speed (500+ spins/hour) makes them among the most expensive games to play per hour. Table games like blackjack with basic strategy offer the lowest hourly cost.
Understanding the Math
Expected loss is calculated using this formula:
For example, playing blackjack with $25 bets for 3 hours with an 80 hands/hour pace and 0.5% house edge:
This represents the expected value - the mathematical average outcome over many trials. Individual sessions will vary due to variance, but over time, actual results converge to expected values as explained by the Law of Large Numbers.
Frequently Asked Questions
How is expected loss per visit calculated?
Expected loss per visit is calculated by summing the expected loss from each game played. For each game: Expected Loss = Bet Size × Bets Per Hour × Hours Played × House Edge. The total visit loss is the sum of all game segments.
Why does Kangwon Land guarantee profits despite some players winning?
The Law of Large Numbers ensures that over millions of bets, actual results converge to expected mathematical outcomes. While individual players may win short-term, the house edge guarantees that the casino extracts a predictable percentage from total wagers over time. In 2024, Kangwon Land generated over $950 million in gross gaming revenue through this mathematical certainty.
Is it possible to have a profitable casino visit?
Yes, short-term variance means some visits will be profitable. However, expected value is always negative. Over multiple visits, the mathematical certainty of the house edge means cumulative losses will approach expected values. Use our variance calculator to understand outcome ranges.
How does this calculator help with responsible gambling?
By showing the mathematical cost of gambling as entertainment, users can make informed decisions about whether this entertainment expense aligns with their budget, just like planning costs for movies, concerts, or travel. The National Council on Problem Gambling recommends viewing gambling as paid entertainment with predetermined limits.
Why Understanding Visit Costs Matters
Research from the UNLV International Gaming Institute shows that most gamblers underestimate their losses. This cognitive bias, studied extensively in gambling psychology, stems from several factors: selective memory of wins, the complexity of multi-game sessions, and the difficulty humans have with probability estimation.
By calculating expected losses before a visit, you can:
- Set realistic budgets: Know what entertainment cost to expect
- Choose games wisely: Lower house edge games cost less per hour
- Avoid chasing losses: Understand that losses are the expected cost of entertainment
- Compare to alternatives: Is this entertainment worth the cost compared to other activities?
The Korean Context: Kangwon Land Economics
For Korean citizens, Kangwon Land represents the only legal domestic gambling option. Understanding visit costs is particularly important given the casino's remote location and the significant time investment required to travel there. Many visitors make day-long trips, often gambling for 6-8 hours, which can result in substantial expected losses.
According to the National Gambling Control Commission, the average Korean gambler visits Kangwon Land 12-15 times per year. If each visit results in $100-$200 in expected losses, annual gambling costs can reach $1,200-$3,000 before accounting for transportation, accommodation, and meals.
South Korea's strict gambling laws reflect government concerns about these cumulative costs and their impact on household finances. The Korean Center on Gambling Problems provides resources for those who find their gambling costs exceed comfortable entertainment budgets.
Viewing Gambling as Entertainment
When planned properly, gambling can be treated as any other entertainment expense. Consider these comparisons:
- A 2-hour movie costs approximately $15-$20
- A concert ticket ranges from $50-$200+
- A nice dinner for two costs $80-$150
- A day at an amusement park costs $100-$200 per person
A casual 2-hour casino visit with low stakes ($20-$30 expected loss) is comparable to other entertainment options. Problems arise when gambling costs exceed what one would comfortably spend on other entertainment, or when the expectation shifts from entertainment to profit-seeking.
Important Disclaimer
This calculator provides mathematical estimates for educational purposes only. Actual results will vary due to gambling variance. If your gambling spending exceeds comfortable entertainment budgets, or if you're gambling with money you can't afford to lose, please seek help from the responsible gambling resources available.
Under South Korean law, most forms of gambling are illegal. This tool is for educational purposes about gambling mathematics, not encouragement to gamble. See our enforcement page for information about gambling laws in Korea.
Related Tools
Explore our other gambling education calculators:
- House Edge Calculator - Analyze single-game expected losses
- Budget Calculator - Plan responsible gambling budgets
- Time Calculator - Estimate how long your bankroll will last
- Variance Calculator - Understand outcome ranges
- Entertainment Cost Calculator - Compare gambling to other entertainment
- Compound Loss Calculator - See long-term impact of regular gambling
- Problem Gambling Self-Assessment - Evaluate your gambling behavior
Return to the complete tools directory or explore our articles about gambling in South Korea.