Betting on HI-LO: An evaluation of gamblers' alternative playing strategies

Jim Freeman

Research output: Contribution to journalArticle


Gambling (betting and gaming) is a key sector of the UK leisure industry and slot machines, by far the largest category of licensed gaming activities. Players' motivation to gamble is significantly influenced by game novelty and machine manufacturers invest considerably in developing new state-of-the-art game designs. The statistical properties of HI-LO, a game used in many slot applications, are explored here and appropriate theory developed. A series of EXCEL-based macros enable a profitability analysis of any HI-LO game to be undertaken for a range of contrasting playing behaviours.
Original languageEnglish
Pages (from-to)1278-1287
Number of pages10
JournalJournal of the Operational Research Society
Issue number12
Publication statusPublished - 1998
EventINFORMS XXXIV / EURO XV - Barcelona, Spain
Duration: 14 Jul 199719 Jul 1997


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