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Keywords = integrated casinos and entertainment

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18 pages, 545 KiB  
Article
Efficient Monte Carlo Methods for Multidimensional Modeling of Slot Machines Jackpot
by Slavi Georgiev and Venelin Todorov
Mathematics 2023, 11(2), 266; https://doi.org/10.3390/math11020266 - 4 Jan 2023
Cited by 3 | Viewed by 4260
Abstract
Nowadays, entertainment is one of the biggest industries, which continues to expand. In this study, the problem of estimating the consolation prize as a fraction of the jackpot is dealt with, which is an important issue for each casino and gambling club. Solving [...] Read more.
Nowadays, entertainment is one of the biggest industries, which continues to expand. In this study, the problem of estimating the consolation prize as a fraction of the jackpot is dealt with, which is an important issue for each casino and gambling club. Solving the problem leads to the computation of multidimensional integrals. For that purpose, modifications of the most powerful stochastic quasi-Monte Carlo approaches are employed, in particular lattice and digital sequences, Halton and Sobol sequences, and Latin hypercube sampling. They show significant improvements to the classical Monte Carlo methods. After accurate computation of the arisen integrals, it is shown how to calculate the expectation of the real consolation prize, taking into account the distribution of time, when different numbers of players are betting. Moreover, a solution to the problem with higher dimensions is also proposed. All the suggestions are verified by computational experiments with real data. Besides gambling, the results obtained in this study have various applications in numerous areas, including finance, ecology and many others. Full article
(This article belongs to the Special Issue Statistical Data Modeling and Machine Learning with Applications II)
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21 pages, 2398 KiB  
Article
Applications of Blockchain Technology to Logistics Management in Integrated Casinos and Entertainment
by Da-Yin Liao and Xuehong Wang
Informatics 2018, 5(4), 44; https://doi.org/10.3390/informatics5040044 - 27 Nov 2018
Cited by 64 | Viewed by 12529
Abstract
The gaming industry has evolved into a multi-functional smart city that combines integrated casinos and entertainment (ICE). ICE logistics involve supply chains with various stages in geographically-distributed locations and with limited and complex storage and warehouses. Challenges are to leverage demands, traffic, and [...] Read more.
The gaming industry has evolved into a multi-functional smart city that combines integrated casinos and entertainment (ICE). ICE logistics involve supply chains with various stages in geographically-distributed locations and with limited and complex storage and warehouses. Challenges are to leverage demands, traffic, and storage allocation in ICE logistics. The decentralized structure of blockchain technology allows all parties to participate in ICE logistics. Its cryptography-based, immutable nature gives the assurance of security. This research deals with the design and application of blockchains in ICE logistics. We first adopt a Concentric Value Circles (CVC) model to identify the requirements and business opportunities that use blockchain technology in ICE logistics. We develop an open, automated, and transparent platform, TransICE, which utilizes the feature of smart contracts in blockchain technology and adopts a decentralized model, Hawk, where no financial transactions are stored on the blockchain to hold privacy of transactions publicly. Two cases, (1) the Shipment Pricing and Scheduling process and (2) the Pickup, Shipping and Delivery process in TransICE, are studied to illustrate the applications and feasibility of the proposed TransICE platform and the developed smart contracts of the Hawk model. Full article
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