Gambling Odds Online
March 15, 2006
This article is to educate
and inform about the odds and probabilities of gambling.
In these analyses and comparisons, you may learn which
games offer the best odds for the player, which ones
offer the worst, and exactly how to arrive at these
conclusions.
What are odds?
Odds refer to mathematics in which they represent a
basic probability of a potential outcome and are usually
expressed in a decimal or fractional format. For example
by flipping a two-sided coin in a traditional toss game,
you know that there are exactly two possible outcomes,
heads or tails. The probability of the coin landing
heads up is one out of two can be expressed 1 to 2 as a
ratio or "Fifty-fifty." Just like a coin has two sides,
a roulette wheel has 37 or 38 slots, a standard playing
deck has 52 cards, and a dice has six sides. These
numbers and the various results of each play represent
the probabilities of the games so math and odds are very
much a part of casino gambling. Smart gamblers realize
the strategic ways to bet and play certain casino games
that make all the difference. They also know that to
walk away a winner which games should be avoided.
The best and the worst odds:
Almost everyone from the total beginner on up to the
professional knows that casinos are in business to make
money off of the players. If you're playing blackjack at
$25 a hand, and the table is averaging 60 hands played
per hour, multiply $25 by 60 hands and you are playing
through $1,500 an hour. If you play for four hours means
that you play through about $6,000 of which the casino
expects to grab 0.8 percent - if you're playing perfect
basic strategy. This amounts to a loss of only $48 which
makes Blackjack one of the better options for players.
Roulette is a slightly slower paced game with a round
every couple minutes or so and not many players are
quite avid enough to spend four hours at a table.
Examining that at a rate of 30 rounds per hour with a
flat bet of $25, playing for four hours, the casino
would expect to make $157.80 from your play. That is not
an overly exaggerated amount to expect to lose during a
session at a casino but playing over time makes it add
up.
These are examples to make smart play work for you and
instead of giving up a big advantage to the house
playing a game like keno, try learning basic blackjack
or craps strategy and you'll likely notice a decrease in
your losses and an increase in your winnings.
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