# How do I calculate gambling edge using average win?

If given the cost to play, and the average win. Can I calculate the edge? (probability of winning)

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I don't think this question is appropriate for this site. – BBischof Aug 16 '10 at 18:52
Indeed it might get better answers at stats.stackexchange.com – Justin L. Aug 16 '10 at 19:00

It should intuitively feel like it's not (theoretically) possible -- the cost to play and the average win are determined by a bookie (or a casino, etc.), whereas the probability of winning is determined by the game itself. Given two games, one with a probability of winning $p_1$ and the other with a probability of winning $p_2$, the bookie can adjust the returns on bets so as the cost of play and average win remain constant. For example: