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Can anyone explain Monte Carlo Methods with example?
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- You can see this video for understanding montecarlo lmethod
knordlun/mc/ I found it extremely useful (especially from an algorithmic point of view). Do the exercises.
Monte Carlo casino review
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The land-based Monte Carlo casino is one of the best known casinos in Europe – and even the world. It was first opened in 1863 and has been immortalised in film and on television. Many people will associate it with James Bond’s Casino Royale. However, in 2103, the casino decided to open its doors to the discerning gamblers worldwide, allowing them to experience the glamour and glitz of high society from the comfort of their front rooms. Hence Monte Carlo casino online was born.
|Evaluated casino||Monte Carlo Casino|
|⭐ Rating||4.0 / 5.0|
|Total number of games||838|
|Monte Carlo Casino||Play Here!|
Owned by Betclic Everest Group, this is a company that has experience within the industry but hasn’t always pleased the betting public. Therefore, in this Monte Carlo casino review, we wanted to make sure that this was one of their better products. We looked at the games, usability, providers, banking, customer service and licenses to make sure that it provided a good and trustworthy service, worthy of its legendary name.
Overview of Our Experiences
Undeniably, the site online looks very glamorous and classy, exactly how we would expect this online casino to look. So, aesthetically, we were impressed. The site was simple with its black and white background, but the splashes of gold were subtle and elegant. It was not too showy and try hard. But are the other areas of the site as impressive?
When we checked out the games available, there were over 800 available. So, in comparison to many others, this is pretty good. We then looked at the variety available, and again, we were impressed. There were plenty of slots to play and they made up the majority of the games. As well as this, there were a lot of table games available, as we’d expect from Monte Carlo casino. Also, there was an impressive live casino. It also offered a number of video poker games.
|Company:||Betclic Everest (Gibraltar) Limited|
|Address:||57/63 Line Wall Road, Gibraltar, GX11 1AA|
|Regulation/license:||GB Gambling Commission|
Moving on, we then looked around the other areas of the site. Finding our way around the site was easy – looking for games was made simple by the number of categories we could choose from. The banking, both depositing and withdrawing was very good, and pretty quick, which we liked. So far so good.
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Then we checked out the customer service. Overall, this was rather good. As we would expect from such a casino, the agents were great, there was also immediate help available. However, we did have an issue with the lack of 24-hr assistance, which surprised us a little. Having said that, our experiences on the site were a lot more positive than negative.
Monte Carlo casino Check: Scam or Not?
This is a casino that has one of the biggest names in the world, so we’re expecting that this wouldn’t be a Monte Carlo casino scam. Furthermore, it is owned by the BetClic Everest Group that has experience and a reputation in the industry. The world renowned casino would never be linked with an online scam site.
However, reputation aside, the site is also governed and licensed by the MGA – The Malta Gaming Authority as well as the European Gaming and Betting Association, which means that it is regulated in many countries including Malta and the UK. There are several restricted countries at Monte Carlo casino, including Bosnia & Herzegovina, Hungary, Slovakia, Australia, Czech Republic, Italy, Sweden, Austria, France, Poland, the US as well as most of Asia. Be sure to check.
Also, this is a site that provides games from the biggest and most trusted gaming companies, including NetEnt – a name that is linked with quality and trust. There are other top names as well including Microgaming and Yggdrasil.
When looking at these different areas, we can see that this is not a Monte Carlo casino scam. The online casino is just as trustworthy and reputable as the famous land based casino.
Summary of the Offers from Monte Carlo casino
This classy casino is not going to offer up rubbish. As such, it has made sure that it provides a good service. There are in excess of 830 games available to play from the top providers. Although the majority are slots, there are many table games available, video poker games and a great live casino. However, we were a little disappointed with the lack of promotions available.
|The Website of Monte Carlo casino|
Whether you’re a lover of slots or a lover of table games, you’ll be a lover of this online casino. This site provides games from NetEnt, Microgaming, Yggdrasil, Red Tiger Gaming, Jadestone, Amaya, Thunderkick, Pragmatic Play, Play’n Go and more. There are a total of 838 games available, with 701 of these being slots.
You can choose to play from popular slots, such as the Book of Dead and Starburst; there are the newest games like Champions of Rome and Safari King. You can also play top branded games like Planet of the Apes and Jurassic Park. If you want to go for the jackpot then there are 18 available, including the millionaire makers: Mega Fortune and Mega Moolah, as well as Arabian Nights and Hall of Gods.
As you can imagine, there are also great table games to play on. There are 40 available in all. You can play on one of the 14 roulette tables – such as European Roulette or 3-Wheel Roulette; there is also a choice of 15 blackjack tables, including Sidebet Blackjack and Double Exposure Blackjack. You can also play Caribbean Stud Poker, baccarat, Pontoon, Casino Hold’em, Punto Banco, Red Dog, Texas Hold’em and Super Wheel. Overall, the choice is great.
However, if you’re more of a live casino lover, then there’s even more choice available – with 49 games in total. There are top games available from providers such as Evolution Gaming. You can play such games as Immersive Roulette and Double Ball Roulette. If you love blackjack you can try out Blackjack VIP, Blackjack Party and more.
At Monte Carlo casino you will also find variants of baccarat, Casino Hold’em, Three Card Poker, Caribbean Stud, Ultimate Texas Hold’em as well as Dream Catcher. It’s great for low roller, high rollers – and everyone in-between. As well as this, there are a further ten Video Poker games including All American, Deuces Wild, Jacks or Better and more. Overall, this is a great casino with some awesome games.
Monte Carlo Casino Bonus: Check Out the Offer
This was our biggest gripe with Monte Carlo. Most online casinos offer great casino bonuses on registration. However, with this one it depends on when you join. There have been times when the Monte Carlo casino bonus on joining has been fantastic.
Unfortunately, at the time of this Monte Carlo casino review, there was not a welcome bonus available. This was not only disappointing, but very surprising. In the past, it has offered rewards such as 100% up to £250, but presently nothing.
However, on registration, it does give you the option of adding a promotion code from an introducer. As such, I would suggest that you search for Monte Carlo casino bonus codes as you might get luck through different affiliated sites. There are terms and conditions attached to bonuses and promotions in general available on the site.
So, if you can find a good bonus code, they will be subject to conditions. There will generally be wagering requirements attached, subject to your bonus conditions and there will also be time limitations. Do check the specific terms attached to your bonus
Currently, there are no advertised promotions on the site. However, there are often different offers available, so make sure you check out the promotional area of the site to see what is on offer.
Deposit and Payout at the Casino
When depositing at the casino, there are a variety of top methods available, which include Maestro, MasterCard, Neteller, Paysafecard, Ukash, Visa Electron, Visa, Skrill and Fast Bank Transfer. However, unfortunately, it isn’t a PayPal casino. In general, the depositing is good – all deposits are immediate, without fees and there’s a minimum deposit of £10.
|Payment Options at Monte Carlo casino|
|Deposit options:||Visa, Maestro, MasterCard, Neteller, Paysafecard, Ukash, Visa Electron, Skrill and Fast Bank Transfer|
|Accepted currency:||GBP, EUR, BRL, CZK, HUF, NOK, PLZ, CHF, USD|
|Payout options:||Visa, Visa Electron, Neteller, Skrill and Fast Bank Transfer|
Withdrawals were also pretty good, although there were less options available than with depositing – Visa, Visa Electron, Neteller, Skrill and Fast Bank Transfer. In terms of speed, the first withdrawal tends to be a little bit slower than normal due to verification processes.
However, after that, they are normally reasonably quick. Withdrawing via eWallets usually takes under 24 hours, Credit/Debit cards and bank transfers between 2-4 days. There are withdrawal limits to take into account. All methods have a minimum withdrawal of €15 and a maximum of €30,000, which is pretty good. There are also no fees attached, unless withdrawing under €15. All in all, we found the banking to be standard.
Security and Regulation
When checking out the certification we were happy to see that it was licensed and regulated by both the MGA (Malta Gaming Authority) and the EGBA (European Gaming and Betting Association. These are both well-respected licenses throughout Europe.
Finally, the site is dedicated to responsible gambling and allows you to set daily, weekly and monthly spending limits. It also offers reality checks so you can monitor your activity. You can also self-exclude temporarily or permanently. As well as this, you have access to third party Responsible Gambling sites, such as GamCare, GambleAware and Gambling Anonymous, if you need intervention.
All in all, the Customer Support service was pretty good. As we would expect from such a big name, the agents were highly professional and offered helpful responses. There are just two ways to contact them, however – via live chat, or via email.
The live chat is very good and offers immediate help, whereas the emails claim to have a response time of under 24 hours. However, there were times when emails took substantially longer, which was disappointing. Live Chat we found to be the best means of contact. The help desk is available 7 days a week; however, it is open between 8am to midnight (CET), which is disappointing, as we prefer 24-hour help.
Another option available is the FAQ section which offers standard answers to general queries. Here you can find out about how to sign up; payment queries; playing in the casino questions; account security issues; technical queries and contacts. It offers good help and is another option apart from the customer support
Usability of the Online Casino
One big plus on the site was the usability of the casino. Apart from looking very attractive, we found it really easy to use and navigate. In terms of registration, you can sign up for the site without even clicking on a ‘register’ button as it is on one of the banners. This makes it very quick and easy. Aside from log-in, at the top you can check out promotions, payments, mobiles and Contact Us.
Below the banners is where you can find all the games. The games on the homepage are set out in the following categories: New Games; Red Tiger; Hot Games; NetEnt, Most Popular; Pragmatic Play; Yggdrasil; Play’n Go; TV, Film & Music, Arcade; Top Table Games; Jackpots; Ancient World… and more.
It had the most comprehensive groupings we’ve seen. However, you can also sort them by: Slots; Jackpots; Table Games; Live Casino; Video Poker and All Games. There is also a search function. We couldn’t complain about the ease of browsing and finding games.
If in doubt, all of the other areas of the site could be found at the footer of the casino, so it was all very easy. All in all, in terms of usability, this is one of the best we’ve founded in our Monte Carlo casino review.
Monte Carlo casino App: Many Different Slots
As the site is so good, we were looking forward to checking out the Monte Carlo casino app. You can’t find it in the Play Store, but you can scan the QR code on the desktop site and download on Android. You can find the app in the App Store if playing on iOS. Furthermore, you can open the website in your browser if you have a smartphone and don’t want to use the app.
The mobile version of the site is also very user friendly. The side menu takes you to promotions, languages and other products. The games on the homepage offer you favourites and favourite jackpots.
You can also sort the games into Slots, Jackpots, Table Games, Live Casino, Video Poker and All Games. There were all the top games and providers to choose from, the same impressive variety and it was quick, smooth and easy. As far as mobile casinos go, this was a very good product.
Conclusion: Perfect Online Casino with its Own Software
Overall, we very much enjoyed playing on the Monte Carlo casino online site. Not only did it look really good, but it also offered fantastic games, with hundreds of slots and a great live casino.
It stood up to the very best online casinos out there in terms of variety and enjoyment. The banking was also good as was the mobile site. We would have liked to see 24-hour customer service, and definitely more promotions for players. However considering our Monte Carlo casino review, we can say that it was fun, safe, secure and well regulated, so we’d give it 4,0 out of 5,0.
Monte Carlo Simulation
What is the Monte Carlo method?
In general terms, the Monte Carlo method (or Monte Carlo simulation) can be used to describe any technique that approximates solutions to quantitative problems through statistical sampling. As used here, ‘Monte Carlo simulation’ is more specifically used to describe a method for propagating (translating) uncertainties in model inputs into uncertainties in model outputs (results). Hence, it is a type of simulation that explicitly and quantitatively represents uncertainties. Monte Carlo simulation relies on the process of explicitly representing uncertainties by specifying inputs as probability distributions. If the inputs describing a system are uncertain, the prediction of future performance is necessarily uncertain. That is, the result of any analysis based on inputs represented by probability distributions is itself a probability distribution.
Whereas the result of a single simulation of an uncertain system is a qualified statement («if we build the dam, the salmon population could go extinct»), the result of a probabilistic (Monte Carlo) simulation is a quantified probability («if we build the dam, there is a 20% chance that the salmon population will go extinct»). Such a result (in this case, quantifying the risk of extinction) is typically much more useful to decision-makers who utilize the simulation results.
In order to compute the probability distribution of predicted performance, it is necessary to propagate (translate) the input uncertainties into uncertainties in the results. A variety of methods exist for propagating uncertainty. Monte Carlo simulation is perhaps the most common technique for propagating the uncertainty in the various aspects of a system to the predicted performance.
In Monte Carlo simulation, the entire system is simulated a large number (e.g., 1000) of times. Each simulation is equally likely, referred to as a realization of the system. For each realization, all of the uncertain parameters are sampled (i.e., a single random value is selected from the specified distribution describing each parameter). The system is then simulated through time (given the particular set of input parameters) such that the performance of the system can be computed. This results is a large number of separate and independent results, each representing a possible “future” for the system (i.e., one possible path the system may follow through time). The results of the independent system realizations are assembled into probability distributions of possible outcomes. As a result, the outputs are not single values, but probability distributions.
A Simple Example: Rolling Dice
As a simple example of a Monte Carlo simulation, consider calculating the probability of a particular sum of the throw of two dice (with each die having values one through six). In this particular case, there are 36 combinations of dice rolls:
Based on this, you can manually compute the probability of a particular outcome. For example, there are six different ways that the dice could sum to seven. Hence, the probability of rolling seven is equal to 6 divided by 36 = 0.167.
Instead of computing the probability in this way, however, we could instead throw the dice a hundred times and record how many times each outcome occurs. If the dice totaled seven 18 times (out of 100 rolls), we would conclude that the probability of rolling seven is approximately 0.18 (18%). Obviously, the more times we rolled the dice, the less approximate our result would be. Better than rolling dice a hundred times, we can easily use a computer to simulate rolling the dice 10,000 times (or more). Because we know the probability of a particular outcome for one die (1 in 6 for all six numbers), this is simple. The output of 10,000 realizations (using GoldSim software):
How Accurate are the Results?
The accuracy of a Monte Carlo simulation is a function of the number of realizations. That is, the confidence bounds on the results can be readily computed based on the number of realizations. The two examples below show the 5% and 95% confidence bounds on the value for each outcome (i.e., there is a 90% chance the the true value lies between the bounds):
History of the Monte Carlo Method
Monte Carlo simulation was named after the city in Monaco (famous for its casino) where games of chance (e.g., roulette) involve repetitive events with known probabilities. Although there were a number of isolated and undeveloped applications of Monte Carlo simulation principles at earlier dates, modern application of Monte Carlo methods date from the 1940s during work on the atomic bomb. Mathematician Stanislaw Ulam is credited with recognizing how computers could make Monte Carlo simulation of complex systems feasible:
The first thoughts and attempts I made to practice [the Monte Carlo Method] were suggested by a question which occurred to me in 1946 as I was convalescing from an illness and playing solitaires. The question was what are the chances that a Canfield solitaire laid out with 52 cards will come out successfully? After spending a lot of time trying to estimate them by pure combinatorial calculations, I wondered whether a more practical method than “abstract thinking” might not be to lay it out say one hundred times and simply observe and count the number of successful plays. This was already possible to envisage with the beginning of the new era of fast computers, and I immediately thought of problems of neutron diffusion and other questions of mathematical physics, and more generally how to change processes described by certain differential equations into an equivalent form interpretable as a succession of random operations. Later … [in 1946, I] described the idea to John von Neumann, and we began to plan actual calculations. Eckhardt, Roger (1987). Stan Ulam, John von Neumann, and the Monte Carlo method, Los Alamos Science, Special Issue (15), 131-137
Using GoldSim for Monte Carlo Simulation
GoldSim is a powerful and flexible probabilistic simulation platform for dynamically simulating nearly any kind of physical, financial, or organizational system. You build a model in an intuitive manner by literally drawing a picture (an influence diagram) of your system.
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