Slot Monte Carlo Racing — Game Review

Monaco, Western Europe land casinos listed by area: (In the Monaco casino listings, gaming times, type of games, minimum bets, promotions, services, facilities etc., if shown, are indicative and may change.)
See useful information on Monaco below on this page, at the end of the land casinos listing.

Reviewed casinos in Monaco: 3 reviews. Star ratings *** Good, **** Very Good, ***** Best.

Monte-Carlo — There are 5 listed land-based gambling casinos in Monte-Carlo.

Bay Casino (Le) ,
Monte-Carlo Bay Hotel & Resort, 40 Avenue Princesse Grace, Monte-Carlo, MC 98000, Principality of Monaco. Phone: +377 98 06 02 00, + 377 98 06 07 81, Email: [email protected], Website: www.montecarloresort.com
N earest Airport: Nice, France (about 40 minutes drive)
M inimum Gaming Age: 18
E ntrance Fee: Free
ID /Passport: Required if you look under 18
D ress Code: Sensible dress wear required, bearing in mind that this casino is part of a luxurious resort. No military or religious uniforms allowed.
O pening Times: Daily from 12 noon to 2am
G aming Currency: Euro
G ames to play: 154 Jackpot Slots/Video Machines (cashless machines with minimum bet 0,10�)
F acilities: Hotel and resort
R emarks: This is a slots only casino, equipped with the modern «Ticket-In / Ticket-Out» coinless/cashless technology, unique in Southern Europe.
[Dec 2007 last update]
Café de Paris (Le) ,
Place du Casino, Monte-Carlo, MC 98000, Principality of Monaco. Phone: +377 98 06 7723, +377 98 06 77 77, Email: [email protected], Website: www.montecarloresort.com
N earest Airport: Nice, France (about 40 minutes drive)
M inimum Gaming Age: 18
E ntrance Fee: Free
ID /Passport: Required if you look under 18
D ress Code: No specific dress code applies. No military or religious uniforms allowed.
O pening Times: American games (American Roulette, Black Jack and Craps) open daily from 8 pm; Slots Machines open daily from 10 am; Salon Grand Si�cle (Slot machines, Xtreme Derby horse racing and Video Poker) open daily from 4 pm
G aming Currency: Euro
G ames to play: 450+ Jackpot Slots/Video Machines with progressive Jackpots including Cash Fever Jackpot, 12 terminals Extreme Derby horse racing, 8 terminals Touch-bet Roulette double zero version (0.50� min. bet — pays 30 to 1 on numbers); L ive table games: 1 craps table (10� min. bet), 3 American style Roulette tables double zero version (5� min. bet), 6 Blackjack tables (20� min. bet)
F acilities: Restaurant, Bar, Entertainment
R emarks: The building with ‘Belle Epoch’ architecture is one of the oldest establishments in Monte-Carlo. While Monte-Carlo is no longer as extravagant as it once was, Cafe de Paris is still one of Monte-Carlo�s most popular meeting-places.
Review — Editor’s personal experience at Le Cafe de Paris casino in Monte-Carlo:
This is a pleasant casino with many slots/video games and a few table games on the ground floor. There is an additional slots/video machines area in the lower floor. The table games are in the centre of the ground floor gaming hall surrounded by slots and video machines. There is only American style double zero roulette tables. No French or single zero American roulette. There is only Blackjack card games tables. No casino stud poker or 3-card poker tables. The touch-bet roulette game, which is operated by an automatic mechanical roulette wheel serving 8 terminals, pays only 30 to 1 if you win on a number, and the wheel has a zero slot and a ‘void’ slot that you cannot bet on and, if the ball lands on the void slot, everybody loses (practically a double zero wheel). There is a casino snack-bar and a restaurant. First class food and excellent service at both; the restaurant and the snack-bar.
Rating: Good casino!
[Dec 2007 last update. Reviewed Dec 2007]
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Casino de Monte-Carlo ,
Place du Casino, Monte-Carlo, MC 98000, Principality of Monaco. Phone: +377 98 06 23 00, +377 98 06 21 21, Email: [email protected], Website: www.montecarloresort.com
N earest Airport: Nice, France (about 40 minutes drive)
M inimum Gaming Age: 18
E ntrance Fee: Daily, 10 � per person, supplement of 10 � to enter the private rooms (Salons Prives). Slot machines area, free admission
ID /Passport: Required
D ress Code: In the gaming rooms sensible dress is required. No shorts or flip flops allowed. In the private rooms (Salons Prives) after 8 pm, a jacket is required. No sport shoes allowed. No military or religious uniforms allowed.
O pening Times: Weekdays from 2pm, Weekends from 12 noon; Salons Prives from 5.30pm; Slot Machines open daily from 2 pm on Weekdays, 12 noon on Weekends
G aming Currency: Euro
G ames to play: 300+ Slots/Video Machines; L ive table games (35): Single zero American Roulette, Double zero American Roulette, Single zero French Roulette, Trente et Quarante (30/40), Baccarat (Punto Banco), Craps, Banque a deux Tableaux
F acilities: 2 Restaurants: Le Train Bleu and Les Prives (Les Prives restaurant by invitation only), Bars, Entertainment
R emarks: Located in the heart of Monte-Carlo, the casino dates back to 1863, all marble floors, gold pillars, glass chandeliers and very high ceilings.
Review — Editor’s personal experience at Casino de Monte-Carlo:
This is a very large building made up of several large halls with very high ceilings. Beautiful decor and very large glass chandeliers. Somber atmosphere, not particularly welcoming. The food and the service at the Les Prives restaurant were good, but pricey. In the gaming areas there is no casino stud poker or 3-card poker tables, and no card-room for poker players. The main gaming area is called Salons Europe (10� entrance fee). There are many single zero French roulette tables, which is the more popular roulette game, and only 4 single zero American style roulette tables (they call English roulette) starting at 10 Euro minimum bet. There is a separate Blackjack area nearby called Salle des Am�riques. The slots/video machines area is called Atrium et Salle Blanche and is free to enter. Then there is the Salons Prives (private gaming rooms — an additional 10� fee to enter) with high minimum bet table games. Baccarat tables are only available in the Salons Prives and start at 100 Euro minimum bet.
Rating: Very good casino!
[Dec 2007 last update. Reviewed Dec 2007]
Go to top of this page . See «Casino Reviews» Index page
Salle Des Palmiers (Summer Casino) ,
Monte-Carlo Sporting Club & Casino, 26 Avenue Princesse Grace, Monte-Carlo, MC 98000, Principality of Monaco. Phone: +377 98 06 72 00, Email: [email protected], Website: www.montecarloresort.com
N earest Airport: Nice, France (about 40 minutes drive)
M inimum Gaming Age: 18
E ntrance Fee: Free
ID /Passport: Required
D ress Code: Men: Jacket recommended, elegant casual attire (no sport and beachwear). Women: Cocktail attire and dress shoes (no sport and beachwear). No military or religious uniforms allowed.
O pening Times: Open in the summer only, from 10pm daily (June to September)
G aming Currency: Euro
G ames to play: Jackpot Slots/Video Machines; L ive table games: English Roulette, French Roulette, Chemin de Fer, Punto Banco, 30/40, Banque � Deux Tableaux, Craps, Black Jack
F acilities: Restaurant, Bar, Entertainment
R emarks: At the heart of the Sporting Monte-Carlo peninsula lies a complex combining restaurants, bars, a discotheque, Monte-Carlo�s famous concert hall and a summer casino. Dine, dance and gamble by the sea.
[Dec 2007 last update]
Sun Casino — Fairmont Hotel (Casino located within Fairmont Monte-Carlo Hotel),
12 Avenue des Spelugues, Monte-Carlo, MC 98000, Principality of Monaco. Phone: +377 98 06 12 05, +377 98 06 12 12, Email: [email protected], Website: www.montecarloresort.com
N earest Airport: Nice, France (about 40 minutes drive)
M inimum Gaming Age: 18
E ntrance Fee: Free
ID /Passport: Required if you look under 18
D ress Code: No specific dress code applies. No military or religious uniforms allowed.
O pening Times: American games (American Roulette, Stud Poker, Black Jack, Craps, One Deck Black Jack, Big Wheel, War Game, Three Cards Poker) pen daily from 5 pm on weekdays, from 4 pm on weekends; Slot Machines, Roulette Club, Xtreme Derby, Fort Knox, Party Time open daily from 12 noon
G aming Currency: Euro
G ames to play: 300+ Jackpot Slots/Video Machines with progressive Jackpots including Fort Knox Jackpot, 16 terminals Extreme Derby horse racing, 8 terminals Touch-bet Roulette (double zero version); L ive table games: 2 Craps tables, 6 American Style Roulette tables (double zero version), 20 card-game tables: Blackjack, Stud Poker, 3-card Poker, Casino War, Wheel of Fortune, Trente et Quarante (30/40), separate Ultimate Texas Hold’em area with 3 tables
F acilities: Restaurant, Bar, Entertainment, Shopping arcade, Convention and meeting space, Health Club, Sauna, Solarium, Swimming Pool, Transportation (Airport Transportation: Taxi, Limo, Helicopter)
R emarks: Sun Casino is decorated with a circus theme. It has an atmosphere of big American-style casino with modern gaming tables and slots/video machines with the most recent American games.
Review — Editor’s personal experience at the Sun Casino in Monte-Carlo:
This is a pleasant casino, part of hotel Fairmont Monte-Carlo. It is well lit with modern gaming tables. The table games cover almost every type of casino game including the Casino War card game. There is only American style double zero roulette tables. No French or single zero roulette. In the slots/video gaming area there is a touch-bet roulette with 8 terminals. This touch-bet roulette game, which is operated by an automatic mechanical roulette wheel, pays only 30 to 1 if you win on a number, and the wheel has a zero slot and a ‘void’ slot that you cannot bet on and, if the ball lands on the void slot, everybody loses (practically a double zero wheel). The management and the casino personnel are helpful. There is a casino bar. There are many other facilities in the hotel.
Rating: Very good casino!
[Dec 2007 last update. Reviewed Dec 2007]
Go to top of this page . See «Casino Reviews» Index page

Useful information on Monaco
Note: Soci�t� des Bains de Mer (SBM) operates the Principality of Monaco�s most distinctive assets, including: 4 palaces and deluxe hotels, 5 casinos, 60 conference and banqueting rooms, 33 bars and restaurants, 4 spas and cultural and leisure venues.
In 1860 Monaco experienced financial difficulties and in order to improve the situation a highly successful casino operator Francois Blanc suggested opening a gambling house for the principality enrichment. Three years later «Casino Monte-Carlo» was built and became one of the most eminent and grand casinos in the world.

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Monte Carlo Simulation: History, How it Works, and 4 Key Steps

Will Kenton is an expert on the economy and investing laws and regulations. He previously held senior editorial roles at Investopedia and Kapitall Wire and holds a MA in Economics from The New School for Social Research and Doctor of Philosophy in English literature from NYU.

Updated March 26, 2023
Fact checked by
Fact checked by Suzanne Kvilhaug

Suzanne is a content marketer, writer, and fact-checker. She holds a Bachelor of Science in Finance degree from Bridgewater State University and helps develop content strategies for financial brands.

What Is a Monte Carlo Simulation?

A Monte Carlo simulation is used to model the probability of different outcomes in a process that cannot easily be predicted due to the intervention of random variables. It is a technique used to understand the impact of risk and uncertainty.

A Monte Carlo simulation is used to tackle a range of problems in many fields including investing, business, physics, and engineering.

It is also referred to as a multiple probability simulation.

Key Takeaways

A Monte Carlo simulation is a model used to predict the probability of a variety of outcomes when the potential for random variables is present.
Monte Carlo simulations help to explain the impact of risk and uncertainty in prediction and forecasting models.
A Monte Carlo simulation requires assigning multiple values to an uncertain variable to achieve multiple results and then averaging the results to obtain an estimate.
Monte Carlo simulations assume perfectly efficient markets.

Monte Carlo Simulation

Understanding the Monte Carlo Simulation

When faced with significant uncertainty in making a forecast or estimate, some methods replace the uncertain variable with a single average number. The Monte Carlo Simulation instead uses multiple values and then averages the results.

Monte Carlo simulations have a vast array of applications in fields that are plagued by random variables, notably business and investing. They are used to estimate the probability of cost overruns in large projects and the likelihood that an asset price will move in a certain way.

Telecoms use them to assess network performance in various scenarios, which helps them to optimize their networks. Financial analysts use them to assess the risk that an entity will default, and to analyze derivatives such as options. Insurers and oil well drillers also use them to measure risk.

Monte Carlo simulations have many applications outside of business and finance, such as in meteorology, astronomy, and particle physics.

Monte Carlo Simulation History

The Monte Carlo simulation was named after the gambling destination in Monaco because chance and random outcomes are central to this modeling technique, as they are to games like roulette, dice, and slot machines.

The technique was initially developed by Stanislaw Ulam, a mathematician who worked on the Manhattan Project, the secret effort to create the first atomic weapon. He shared his idea with John Von Neumann, a colleague at the Manhattan Project, and the two collaborated to refine the Monte Carlo simulation.

How Does the Monte Carlo Simulation Method Work?

The Monte Carlo method acknowledges an issue for any simulation technique: the probability of varying outcomes cannot be firmly pinpointed because of random variable interference. Therefore, a Monte Carlo simulation focuses on constantly repeating random samples.

A Monte Carlo simulation takes the variable that has uncertainty and assigns it a random value. The model is then run and a result is provided. This process is repeated again and again while assigning many different values to the variable in question. Once the simulation is complete, the results are averaged to arrive at an estimate.

Monte Carlo Simulation Steps

Microsoft Excel or a similar program can be used to create a Monte Carlo simulation that estimates the probable price movements of stocks or other assets.

There are two components to an asset’s price movement: drift, which is its constant directional movement, and a random input, which represents market volatility.

By analyzing historical price data, you can determine the drift, standard deviation, variance, and average price movement of a security. These are the building blocks of a Monte Carlo simulation.

The 4 Steps in a Monte Carlo Simulation

Step 1: To project one possible price trajectory, use the historical price data of the asset to generate a series of periodic daily returns using the natural logarithm (note that this equation differs from the usual percentage change formula):

Periodic Daily Return = l n ( Day’s Price Previous Day’s Price ) begin &text = ln left ( frac < text> < text> right ) \ end Periodic Daily Return = l n ( Previous Day’s Price Day’s Price )

Step 2: Next use the AVERAGE, STDEV.P, and VAR.P functions on the entire resulting series to obtain the average daily return, standard deviation, and variance inputs, respectively. The drift is equal to:

Drift = Average Daily Return − Variance 2 where: Average Daily Return = Produced from Excel’s AVERAGE function from periodic daily returns series Variance = Produced from Excel’s VAR.P function from periodic daily returns series begin &text = text — frac < text> < 2 >\ &textbf \ &text = text \ &text \ &text = text \ &text \ end Drift = Average Daily Return − 2 Variance where: Average Daily Return = Produced from Excel’s AVERAGE function from periodic daily returns series Variance = Produced from Excel’s VAR.P function from periodic daily returns series

Alternatively, drift can be set to 0; this choice reflects a certain theoretical orientation, but the difference will not be huge, at least for shorter time frames.

Step 3: Next, obtain a random input:

Random Value = σ × NORMSINV(RAND()) where: σ = Standard deviation, produced from Excel’s STDEV.P function from periodic daily returns series NORMSINV and RAND = Excel functions begin &text = sigma times text \ &textbf \ &sigma = text \ &text \ &text = text \ end Random Value = σ × NORMSINV(RAND()) where: σ = Standard deviation, produced from Excel’s STDEV.P function from periodic daily returns series NORMSINV and RAND = Excel functions

The equation for the following day’s price is:

Next Day’s Price = Today’s Price × e ( Drift + Random Value ) begin &text = text times e^ < ( text+ text ) >\ end Next Day’s Price = Today’s Price × e ( Drift + Random Value )

Step 4: To take e to a given power x in Excel, use the EXP function: EXP(x). Repeat this calculation the desired number of times. (Each repetition represents one day.) The result is a simulation of the asset’s future price movement.

By generating an arbitrary number of simulations, you can assess the probability that a security’s price will follow a given trajectory.

Monte Carlo Simulation Results Explained

The frequencies of different outcomes generated by this simulation will form a normal distribution, that is, a bell curve. The most likely return is in the middle of the curve, meaning there is an equal chance that the actual return will be higher or lower.

The probability that the actual return will be within one standard deviation of the most probable («expected») rate is 68%. The probability that it will be within two standard deviations is 95%, and that it will be within three standard deviations 99.7%.

Still, there is no guarantee that the most expected outcome will occur, or that actual movements will not exceed the wildest projections.

Crucially, a Monte Carlo simulation ignores everything that is not built into the price movement such as macro trends, a company’s leadership, market hype, and cyclical factors).

In other words, it assumes a perfectly efficient market.

Advantages and Disadvantages of a Monte Carlo Simulation

The Monte Carlo method is used to help an investor estimate the likelihood of a gain or a loss on a certain investment. Other methods have the same aim.

The Monte Carlo simulation was created to overcome a perceived disadvantage of other methods of estimating a probable outcome.

No simulation can pinpoint an inevitable outcome. The Monte Carlo method aims at a sounder estimate of the probability that an outcome will differ from a projection.

The difference is that the Monte Carlo method tests a number of random variables and then averages them, rather than starting out with an average.

Like any financial simulation, the Monte Carlo method uses historical price data as the basis for a projection of future price data. It then disrupts the pattern by introducing random variables, represented by numbers. Finally, it averages those numbers to arrive at an estimate of the risk that the pattern will be disrupted in real life.

How Is the Monte Carlo Simulation Used in Finance Applications?

The Monte Carlo simulation is used to estimate the probability of a certain income. As such, it is widely used by investors and financial analysts to evaluate the probable success of investments they’re considering. Some common uses include:

Pricing stock options. The potential price movements of the underlying asset are tracked given every possible variable. The results are averaged and then discounted to the asset’s current price. This is intended to indicate the probable payoff of the options.
Portfolio valuation. A number of alternative portfolios can be tested using the Monte Carlo simulation in order to arrive at a measure of their comparative risk.
Fixed income investments. The short rate is the random variable here. The simulation is used to calculate the probable impact of movements in the short rate on fixed rate investments.

What Professions Use the Monte Carlo Simulation?

It may be best known for its financial applications, but the Monte Carlo simulation is used in virtually every profession that must measure risks and prepare to meet them.

For example, a telecom may build its network to sustain all of its users all of the time. In order to do that, it must consider all of the possible variations in demand for the service. It must determine whether the system will stand the strain of peak hours and peak seasons.

A Monte Carlo simulation may help the telecom decide whether its service is likely to stand the strain of Super Bowl Sunday as well as an average Sunday in August.

What Factors Are Evaluated in a Monte Carlo Simulation?

A Monte Carlo simulation in investing is based on historical price data on the asset or assets being evaluated.

The building blocks of the simulation, derived from the historical data, are drift, standard deviation, variance, and average price movement.

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