A guide to casino games odds and ways to beat them
If you want to be a successful gambler, the first thing you need to learn is basic probability theory. This will let you determine which casino game has the best odds of winning and what odds of winning a casino game you have for each particular hand and situation. Even if you’re not a big math person, sticking it out and thoroughly learning this guide will bring you benefits much greater than the trouble you’ll go through.
Gambling odds tell a player how likely something is to happen during a game and how much the he will win. There are two standard ways to present odds of casino games: percentages and fractions. Fractions are most commonly used with sports betting. For example, if the odds are 10/1, it means that you will win 10 dollars for every dollar you bet. If the odds are 5/3, you will win 10 dollars if you bet 6. To convert fractional odds to percent, use the following formula:
Probability = D / (C+D),
C and D being the first and second number in the fraction. So if the fractional odds are 10/1, the probability of winning is 1 / (10+1) = 9 percent.
Now that you know the basics, it’s time to discuss specific table game odds.
Slots – the worst casino gambling odds you can find
The outcome of each spin in both online and offline slot machines is determined using a random number generator. A belief that there are payoff cycles and you can expect to win soon if you’ve been losing for a while on the same machine is wrong – all spins are independent from each other. Plus, slots have the largest house edge out of all casino games – as much as 7 percent. Given that each round of the game takes just a few seconds, it is nearly impossible to win anything on slot machines in the long run because statistically speaking, for every 100 dollars you bet, you will only get 93 dollars back. And those numbers are even worse in a real casino – in Las Vegas the house edge can be as much as 27%.
Blackjack – presumably the best odds in a casino
It is a common belief that you have the best odds of winning when you play this table game. What you probably don’t know, is that it’s only true if you use the basic blackjack strategy. The odds for every hand are different, but the higher card value you have on hand, the more likely you’re to bust and lose your money.
How to know your odds of winning when playing Texas Hold `Em
Let’s say that you have a queen of spades and a nine of spades, the cards on the board are jack of spades, two of spades, 7 of hearts and ace of hearts. To calculate the odds of you completing your flush, subtract the number of spades that are open (4) from the number of cards in this suit (13): 13 – 4 = 9, which means that you have 9 outs. Then subtract the number of all open cards from the total number of cards in the deck: 52 – 2 – 4 = 46. Finally, subtract the number of outs to get the number of cards that will cause you to lose if one of them comes out: 46 – 9 = 37. This means that your odds of winning are 37 to 9, or about 20 percent.
With this in mind, you now should be fully equipped to be able to determine the best odds at online and live casinos. Enjoy!