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The probability of the coin landing heads up is one out of two, expressed 1 to 2 as a ratio. Another way to express the odds of a coin toss outcome is in percentages.
Ask anybody what the odds are, and they will likely reply: "fifty-fifty". Just like a coin has two sides, a roulette wheel has 37 or 38 slots, a standard deck has 52 playing cards, and a die has six sides.
These numbers and the various results of each play represent the probabilities of the games. It is easy to see how math and odds are very much a part of casino gambling.
While most players are busy having a roll of the dice at craps tables, or taking their next hit at blackjack, they rarely stop to consider the actual math behind their wager, and how placing certain bets will either increase or decrease their overall expectation of winning.
Smart gamblers realise that there are strategic ways to bet and play certain casino games that will make all the difference. They also know that if one's goal is to walk away a winner, certain games should be avoided.
With that in mind, we will begin to explore which games offer the best odds. Most gamblers, from the total beginner on up to the professional, know that a casino is an entertainment business that generates revenue from its players.
How are new and extravagant casino resorts built? More recently, from hefty borrowing, but historically, from the combined deficit of the players. Every casino game has an inherent advantage for the casino known as the 'house edge'.
This percentage represents how much the casino expects to make from every betting unit wagered. For example, the house edge in double zero roulette is 5.
So, for every betting units wagered, you can expect to lose 5. This may not seem like a lot, but several important factors must also be considered.
Let's say you're playing blackjack at 25 units a hand, and the table is averaging 60 hands played per hour. Multiply 25 times 60 hands and you are playing through 1, units an hour.
Let's say you play for four hours. That means that you play through about 6, credits of which the casino expects to take 0. This amounts to a loss of only 48 units - which isn't that bad - making blackjack one of the better options for players.
Consider how much the house would expect to gain by your playing roulette for the same amount of time. Roulette is a slightly slower paced game, with maybe a round every couple minutes or so, and not many players are quite avid enough to spend four hours at a table.
But, for arguments sake, we will examine that at a rate of 30 rounds per hour with a flat bet of 25 credits, playing for four hours, a casino would expect to make Again you might say, well that's not an overly exaggerated amount to expect to lose during a session at a casino, but keep in mind that it's playing over time that makes it add up.
Twenty such sessions a year would set you back 3, credits and multiply that by the number of years you plan to play, and you'll see that it really does add up.
Some people gamble at a casino for the fun and excitement that this unique form of entertainment delivers.
That is perfectly fine, as gambling at an online or land-based casino can be a leisurely, enjoyable hobby. Recreational players don't mind parting with a reasonable amount of money because they can rationalise the experience in saying it was the price paid for a little fun.
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