Most casino players have a great knowledge of the ins and outs of their favourite games. However, have you ever wondered how the winning odds work in your casino games of choice?
Terms like odds, probability and house edges may sound baffling at first, but understanding them is crucial to your success if you plan on trying to win. Your odds in a game determine the likelihood of you winning a payout, so it’s important to have a good grasp of how they work!
Games of Skill vs. Games of Chance
The term ‘games of chance’ refers to a wide range of casino games like https://australianslotsonline.net/pokie-machines/, Roulette, Craps, Bingo, Baccarat, Keno and lottery games. These titles are based purely on random and unpredictable outcomes, which means that there is no element of skill involved in your ability to win them. The outcomes of each bet are totally independent from one another.
You might also have encountered some games of skill. This term refers to games like Poker and Blackjack, in which players can use certain strategies and their own knowledge to give them a marginal advantage in terms of odds. Remember that either way, a good casino’s games will always have unpredictable outcomes, so there will always be an element of randomness to your chances of winning.
How Odds Work in Table Games
Odds vary widely from table game to table game, but most classic table games like Blackjack, Baccarat and Roulette offer favourable winning odds for their players.
A Roulette wheel contains 36 numbered pockets on it, as well as a green zero slot to provide the casino’s house edge. The 36 numbers all offer players a theoretical winning opportunity, and you can wager on single numbers, colours, or specific combinations or groups of digits.
More complicated bets or those with less likely outcomes have lower winning odds than simple bets, but they also offer higher payouts. For example, an even/odd or red/black Roulette bet would have high winning odds for players at 1:1. However, it would not be nearly as profitable as a straight up bet on a single number at odds of 35:1.
How Odds Work in Online Slots
The odds of winning in a slot are far more complicated than they are in a classic table game like Roulette. In Roulette, you would have a 1 in 37 chance of hitting a lucky number and claiming a payout of 35:1 when betting on a single number. In slots, on the other hand, those winning odds might be closer to 200,000:1 in some cases.
That may seem like a massive number, but slots generally tend to pay out over 35:1. It all depends on the prizes a player manages to hit. If you wager $10 and win an 8,000x payout, you could be $80,000 wealthier in a single spin – but as an 8,000x payout is unpredictable and not guaranteed, your winning chances vary widely. This is why slots are built with specific, set payout systems based on their own unique probabilities and odds!