I am building an online fantasy sports game, similar in method to [url removed, login to view]'s play for points system. Where people "bet" points and win points which can be traded in for prizes, etc. I am stuck on figuring out what they call "house edge" for the progressive jackpot determination. which is teh chance that no one will win.
example if the bet is 3 out of 3 picks and the payout is 10 to 1 points, the house edge is roughly 34% and so on. Can anyone provide a formula for this? I am willing to pay a small sum for it even. and may lead to future work of a similar nature.
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