Casino games chances
New casino sites to play real money
But be sure to walk into the casino with a firm budget of how much money you are willing to lose, and never let yourself cross that boundary. If you want to brush up on your blackjack skills, check out these blackjack tips for beginners from business insider.
Get an edge at the casino by knowing which games have the best odds
The best and worst casino games to play if you want to win
:brightness(10):contrast(5):no_upscale()/Casino-Games-by-Michael-Blann-GettyImages-200325572-001-5c26042d46e0fb00017bb4b3.jpg "Get an Edge at the Casino by Knowing Which Games Have the Best Odds, casino games chances.")
Image (c) michael blann / getty images
Some people go to a casino to have fun, and only want to play the games they like the most. But if you want to improve your chances of walking away with more money than you went in with, you need an edge. Before you sit down at a table, know which casino games have the best odds so that you can spend your money wisely.
Before you start, know that none of the casino games have good odds for players. There's a reason for the phrase, "the house always wins." every casino game is designed to give the house a better chance of winning, but some of them are more tilted than others.
The three best casino games to play
If you walk into a casino and can't remember the details of this article, keep one thing in mind: you have the best odds of winning at a table game. They may be more intimidating than slots, but they usually work out better for the players.
Here are the three best casino games to play if you want decent odds of winning money:
Blackjack's odds of winning: 49%
Blackjack is a simple card game with an element of skill to it. The odds of winning aren't too bad. You play against the dealer; more people can play at one time, but each is only trying to beat the dealer, not each other. The person whose hand comes closest to 21 without going over (which is called a "bust") wins.
Winning blackjack takes luck and a relatively small amount of skill. The dealer relies as much on luck as the players do, so the odds of winning are pretty even. In most casinos, the advantage to the dealer is about one percent.
If you want to brush up on your blackjack skills, check out these blackjack tips for beginners from business insider.
Craps' odds of winning: nearly 50 percent
Craps is a table game played with dice. One person is the "shooter," who rolls the dice, and the other players make wagers on the results of that roll.
On the first roll, called "coming out," the shooter wins on a seven or an eleven. If the shooter rolls any other number, that number is now the "point." the shooter needs to hit the point before he rolls a seven to win.
The simplest bet to make is: will the shooter win or lose on his roll? You can also place other bets. For example, you can bet that the shooter will hit another number before he rolls a seven.
If you make a "pass line" wager to bet whether or not the shooter will win, your odds are approximately 50/50. If you make more specific bets, your odds of winning drop but your payouts rise.
You can read more about craps strategies and rules in pokernews.Com's craps for dummies guide.
Roulette's odds of winning: nearly 50%
Roulette is a wheel with 38 numbers on it. The numbers 1 - 36 are either red or black and the number 0 (and in american casinos, also 00) in green. The croupier, as a roulette dealer is called, spins the wheel and the ball falls on one of the numbers.
There are several ways to place roulette bets. The simplest is to bet on whether the ball will fall on a red or black piece, which has odds of almost 50/50 ("almost" because of the one or two green tiles at 0 and 00).
You can increase the payout — but lower your odds — by betting on specific numbers or ranges of numbers (like "1 to 12" or "1 to 18").
If you'd like to learn more, check out the best and worst roulette strategies from roulettephysics.Com.
Note that the three games with the best odds of winning still have odds that mean that you'll win less than half the time. That means to walk away with more money than you started with, you need a good amount of luck.
The two casino games with the worst odds of winning
The two casino games that are hardest to win also happen to be two of the most popular games to play. They're easy to understand and require little to no skill, so a lot of people play, making lots of money for the casinos.
Now, there's nothing wrong with playing these games if you enjoy them. After all, you went to a casino to have fun, right? But keep in mind that the chances are high that you'll lose the money you play with.
Big six wheel/wheel of fortune: odds of winning: 26% - 39%
When you play the big six wheel, you bet on whether the wheel will stop on a segment labeled $1, $5, $10, $20, or a joker. The segment that the wheel stops on is the amount you'll receive if you win.
Placing a $1 bet has the best odds of winning, with only an 11 percent edge for the house, but also the worst payout. The joker offers a 36x payout but has a 24 percent edge for the house.
Slots: odds of winning around 1 in 49,836,032
You play slots by putting money into a slot machine and pulling a lever or pushing a button to spin a wheel. Depending on where the wheel lands, you win or lose.
Slot machines have various odds of winning, and the odds are printed on each machine. Be sure to read them before you select a machine to play.
Generally, the more money you need to spend to play, the better your odds of winning are. You may also have better odds of winning smaller payouts than a jackpot prize.
If you want more tips, check out this strategy for winning at slots.
The wildcard — odds are hard to calculate
There is one casino game where the odds are wildly variable because skill plays as large a part in winning as luck does:
Poker: odds vary dramatically
Poker is a game where you have more control over whether you'll win or not. Luck plays a role, since you receive random cards, but how you play those cards does a lot to determine whether you win or not.
Obviously, playing poker at a casino is a very different beast than playing at home with your friends. You will be up against other players who may be total beginners or vicious sharks.
If you want to win money playing poker at a casino, make sure your skills are good before you start. Then find a table that meets your budget and skill level.
Upswingpoker.Com recommends playing at night, when there may be more recreational players and when the drinks have been flowing for a while.
Conclusion
These tips will help you make informed bets at a casino, but remember that the house always has the advantage. The more often you bet, the higher your chances of losing are.
There's a difference between not winning and being a loser. You can enjoy a casino and accept that it will cost you some money to be there. After all, you'll spend money if you go to an amusement park, too.
But be sure to walk into the casino with a firm budget of how much money you are willing to lose, and never let yourself cross that boundary.
Furthermore, be aware of the warning signs of gambling addiction and know how to get help, if necessary.
List of casino games with best odds
Other popular posts
Same day payout casinos – instant withdrawal casinos
No one wants to wait long for their winnings? Here we show you best instant withdrawal casinos and same day payout casinos. Learn all about it here
An updated guide to online roulette for 2019
An updated guide to online roulette and whether the best choices are virtual games, live dealers, european or american versions of this famous casino game.
Our top 10 casino games with the highest payouts
Hitting a jackpot can change your life, and the best way to do it is play casino games with best odds. Most people think of winning a casino game is purely a matter of luck. However, a casino game’s outcome is a purely based on statistics and probability.
You will have a better chance of winning any game that has a lower house edge, and therefore better odds, than one with a high house edge. It is with that in mind that we decided to review casino games with best odds. Read on to find which games give you a better chance of winning a golden jackpot.
So, what casino games offer the best odds?
1) blackjack – house edge from 1%
To many gamblers, blackjack is the best game to play at casino to win money, especially if you apply a basic winning blackjack strategy. This table game has a house edge, or advantage, of an average 1%, which gives the player a winning advantage of 99%. Without a strategy, an average player will face a house edge of 2% to 3%.
When using the basic playing strategy below, you must not alter based on any hunch that you have concerning the game’s outcome.
The only exception is if you are counting the cards. IBM’s julian braun was the first to put the basic strategy of card counting to test using computer simulations. This blackjack strategy predicts a particular outcome after millions of hand play.
| Your hand versus dealer’s up-card | |
| 8 | double on 5 to 6, else hit. |
| 9 | double on 2 to 6, else hit. |
| 10 | double on 2 to 9, else hit. |
| 11 | double. |
| 12 | stand on 4 to 6, else hit. |
| 13 to 16 | stand on 2 to 6, else hit. |
| 17 to 21 | stand. |
| A, 2 to A, 5 | double on 4 to 6, else hit. |
| A, 6 | double on 2 to 6, else hit. |
| A, 7 | stand on 2, 7, 8, or A, and double on 3 to 6, but hit on 9 or 10. |
| A, 8 | double on 6, else, stand. |
| A, 9 | stand. |
| A, A | split. |
| 2, 2 | split on 3 to 7, else hit. |
| 3, 3 | split on 4 to 7, else hit. |
| 4,4 | double on 5 to 6, else hit. |
| 5, 5 | double on 2 to 9, else hit. |
| 6, 6 | split on 2 to 6, else hit. |
| 7, 7 | split on 2 to 7, stand on 10, else hit. |
| 8, 8 | split. |
| 9, 9 | split on 2 to 9, but for 7, 10, or A, stand. |
| 10, 10 | stand. |
Blackjack is by far the most commonly played games among the high rollers and VIP casino players, due to what can be achieved with a basic strategy. Overall, blackjack is the best casino game to win money if you feel you have mastered some basic gaming skills.
Before you go gambling: the best and worst casino game odds
Many people will be visiting a casino this summer, whether on a trip to vegas, on a cruise ship, or just at a local casino during a "staycation."
But before you go, you may want to know which games give you the best chance of winning.
So we went behind the scene at two casinos, and spoke with the game managers, to find out which games give you an edge.
Table games your best bet
Jay bean, a caesar's floor manager, agreed to sit down with us and talk about the games with the best odds.
He said many people don't realize that table games have much better odds than slots. They are intimidated by thoughts of card sharks taking their money, with images of an intense texas hold 'em tournament in their minds, and so they stick with the safe games: the slots.
But they are doing themselves a disservice, he said.
Bean's advice? After you've spent some time on the slot machines, move on to the blackjack table, and start by just observing.
Blackjack has the best odds of winning, with a house edge of just 1 percent in most casinos, bean said.
Plus, you are playing against only the dealer, not hooded poker champions.
"blackjack is one of our easiest games to play," bean said. "you're just looking for a number that beats the dealer's number without going over 21."
If you're a novice, bean said to sit down during a less busy time, such as the afternoon, and the dealer will walk you through the game.
But the same is not true with poker: you should practice the game with your friends first, at home, bean said, until you are comfortable with it. Bean said novices are best off passing on the poker tables, where yes, the competition can be tough.
You can find out more information about the game of blackjack at the following link:
http://wizardofodds.Com/games/blackjack/
So from the blackjack table, he suggests moving on to the dice game craps, the game with the second best odds, also nearly 50-50.
The craps table can be a bit intimidating for the beginner with all the boxes on the table, bean admitted. But it's really not tough, and it has one of your best chances of winning. In the end, all you are really doing is betting on a dice roll.
Bean said your next stop should be the roulette wheel. It's simple, and pays fairly well.
"so you bet on your favorite numbers," bean said. "the dealer spins, and if your number comes in you win."
If you stick to betting on just reds or blacks, you have nearly a 50-50 chance of walking away a winner. If it lands on red when you choose red, you will double your bet, bean explained.
While it may seem you have an even chance of winning by simply choosing a color, there is one catch that gives the house its edge: the extra green 0 and 00 position on the wheel. It's on all american roulette wheels.
Or, if you feel lucky, play just one number. It's hard to win, but if you do it pays out 36 to 1.
Your worst odds? The casinos, understandably, did not want to talk about games with poor odds.
So we turned to forbes magazine, which in a report about best bets at the casino, said two popular games -- the wheel of fortune and the ever-popular slot machines -- have the lowest odds of winning, with a house edge of 10 percent or more.
Professor of analytics michael magazine has crunched the numbers, and agreed that blackjack is the best way to go home with money in your pockets. He said if you take a little time to learn the game, you have the best odds of winning.
"you are somewhere between 44 percent to 48 percent in every single hand of winning," he said, noting that no other casino game gives you odds that good.
But magazine cautioned that he's not promoting gambling, because he said even games with the best odds still favor the house.
"play it long enough and you will lose. In the long term the house doesn't lose," magazine said.
Finally, if you really enjoy playing the slots, here is some good information to know, from state casino reports we examined.
With slots, the more money you put in per bet, the higher your chance of winning. If you put the max in a penny machine, which is usually around 50 cents, you have much better odds than if you put in 2 cents.
In addition, penny slots have the lowest odds, with $1 and $5 slots paying much better.
Always gamble responsibly, and don't waste your money.
__________________________
You can learn more about specific odds of slots machines in each state that has casino gambling by visiting the american casino guide.
Don't waste your money is a registered trademark of the EW scripps co.
What casino games offer the best chance of winning?
As such, one of the most common questions from potential or occasional players is… what casino games offer the best chance of winning?
This page will compare the payout percentages of different games and explain as fully as possible which games are better, and worse, for payouts.
Casino games: chances of winning
The following are the payout percentages associated with the most common casino games assuming you play an optimal strategy:
Find the best online casino to play any of these games in our casino reviews sections.
A note on these percentages:
One of the most important factors when it comes to a player’s chance of ending up on top when playing any casino game is the game’s theoretical return to player (RTP) percentage.
An RTP percentage expresses the average rate at which a game pays out to players as compared to the total amount staked through the game. A 90% RTP percentage, therefore, means that on average a game will return winnings worth 90% of the total amount staked through the game.
What should be understood about RTP percentages, however, is that they express how a game works out on average over a very long period of time. They do not guarantee the amount any one player will win in any given session of playing a game.
What is house edge?
When we talk about the house edge what we’re referring to is the mathematical advantage built into every online casino game to ensure that the casino itself will have an assured return in the long term.
Online casinos, akin to their land-based brethren, exist in order to make a profit and so must build this house edge into all of their offerings. As we mentioned, house edge is intimately linked to RTP % and in fact can be calculated for a given game by subtracting the game’s RTP % from 100. If a game’s RTP % stands at 90%, for instance, the casino’s house edge will be 10% meaning that they should turn a theoretical profit of 10% from that game in the long term.
Why are some games better than others?
As we mentioned earlier, RTP percentages vary greatly between different casino games and as such, a player’s chance of ending up in profit in the long run is better with some games than others. You only have to outdo the theoretical expectation slightly when it comes to a game with a 99% RTP percentage, after all, to actually end up with more money than you started with.
That begs the question, therefore, of why there are these – sometimes significant – differences between games. The answer to that question is one that can get unnecessarily complicated but in the simplest possible terms is due to the nature of the game in question and how it has been built.
In the case of slot games, for instance, the relative probabilities of different winning combinations appearing, together with additional winning opportunities presented by bonus rounds help to determine an overall RTP %. For other casino games, meanwhile, things such as the probability of certain numbers appearing (roulette) or certain hands being dealt (blackjack) are the major deciding factors.
Which casino games should I play?
Now that we’ve covered how different casino games provide varying RTP percentages, you’re probably waiting for us to point you towards which games you should play for a better chance of winning. Unfortunately, as is often the case, things are not quite that simple as RTP percentages do not guarantee results for anyone other than the casinos.
In essence, therefore, which casino games to play is largely down to personal choice. If you did want to factor things like RTP percentage into your decision, however, there are a couple of pointers which such considerations can offer.
Keno, for example, is a game which you may wish to avoid playing. That traditional asian game, after all, typically boasts a much lower RTP percentage than any other type of casino game.
If you are most interested in enhancing your chances of winning, too, you may wish to consider employing certain low risk and high reward strategies when playing some casino games. To take roulette as an example, that may mean betting very small stakes on a single number which would still return a huge payout if successful.
List of casino games with best odds
Other popular posts
Same day payout casinos – instant withdrawal casinos
No one wants to wait long for their winnings? Here we show you best instant withdrawal casinos and same day payout casinos. Learn all about it here
An updated guide to online roulette for 2019
An updated guide to online roulette and whether the best choices are virtual games, live dealers, european or american versions of this famous casino game.
Our top 10 casino games with the highest payouts
Hitting a jackpot can change your life, and the best way to do it is play casino games with best odds. Most people think of winning a casino game is purely a matter of luck. However, a casino game’s outcome is a purely based on statistics and probability.
You will have a better chance of winning any game that has a lower house edge, and therefore better odds, than one with a high house edge. It is with that in mind that we decided to review casino games with best odds. Read on to find which games give you a better chance of winning a golden jackpot.
So, what casino games offer the best odds?
1) blackjack – house edge from 1%
To many gamblers, blackjack is the best game to play at casino to win money, especially if you apply a basic winning blackjack strategy. This table game has a house edge, or advantage, of an average 1%, which gives the player a winning advantage of 99%. Without a strategy, an average player will face a house edge of 2% to 3%.
When using the basic playing strategy below, you must not alter based on any hunch that you have concerning the game’s outcome.
The only exception is if you are counting the cards. IBM’s julian braun was the first to put the basic strategy of card counting to test using computer simulations. This blackjack strategy predicts a particular outcome after millions of hand play.
| Your hand versus dealer’s up-card | |
| 8 | double on 5 to 6, else hit. |
| 9 | double on 2 to 6, else hit. |
| 10 | double on 2 to 9, else hit. |
| 11 | double. |
| 12 | stand on 4 to 6, else hit. |
| 13 to 16 | stand on 2 to 6, else hit. |
| 17 to 21 | stand. |
| A, 2 to A, 5 | double on 4 to 6, else hit. |
| A, 6 | double on 2 to 6, else hit. |
| A, 7 | stand on 2, 7, 8, or A, and double on 3 to 6, but hit on 9 or 10. |
| A, 8 | double on 6, else, stand. |
| A, 9 | stand. |
| A, A | split. |
| 2, 2 | split on 3 to 7, else hit. |
| 3, 3 | split on 4 to 7, else hit. |
| 4,4 | double on 5 to 6, else hit. |
| 5, 5 | double on 2 to 9, else hit. |
| 6, 6 | split on 2 to 6, else hit. |
| 7, 7 | split on 2 to 7, stand on 10, else hit. |
| 8, 8 | split. |
| 9, 9 | split on 2 to 9, but for 7, 10, or A, stand. |
| 10, 10 | stand. |
Blackjack is by far the most commonly played games among the high rollers and VIP casino players, due to what can be achieved with a basic strategy. Overall, blackjack is the best casino game to win money if you feel you have mastered some basic gaming skills.
My best bet: the casino games you have the highest chance of winning at
With so many different online casino games to choose from, there are multiple different ways of winning money. The trick is to find those games where, either by your own skill and understanding, or by the inherent probabilities of the game, you have a higher chance of winning compared to other games.
There are several different games that stand out as the highest paying, which will invariably constitute your best bet when it comes to deciding how to apportion your bankroll. While the skill-based games see their house edge entirely dependent on your understanding of basic strategy, there are other games that will require nothing more than their in-built house edge to offer you a leg up over other, similar games.
So without further ado, here’s our top pick casino games which offer you ‘the best bet’ – the best odds of return, based on the house edge.
Blackjack – house edge – 1.5%+
So often the favourite amongst serious gamblers and high rollers, blackjack is preferred purely because of its very slim house edge. As a game of skill, reaching this house edge assumes you are playing the perfect game, and that your decision making is mathematically optimal across every hand. As a result, there’s a real incentive to brush up on your skills, because at this RTP, blackjack is a tantalising proposition.
With a house edge of just 1.5% at its lowest, this is pretty much as good as it gets for table games – you won’t find a better house edge, perhaps with the exception of some craps bets, and even then, the difference is slight. If you want to give it a try, you can play online blackjack here at partycasino.
Craps – house edge 1.4%-5%
Dice betting game craps offers a house edge from around 1.4% for the pass bet, which pays at 1 to 1. Of course, this isn’t a generous as the payout at the roughly equivalent house edge in blackjack, which pays out at 3 to 2 – so effectively, even though the house edge is marginally stronger for this single craps bet than it is in blackjack, blackjack still invariably proves to be the more profitable bet between the two. Nevertheless, at just 1.4%, it’s worthy of a mention in the same breath as other high paying casino games.
Note that different bets carry a different house edge, and that this ranges up to 5%, depending on the bet you choose. So it’s not always the case that craps offers a better house edge than blackjack, and in most cases you’ll be better playing optimal strategy in blackjack rather than taking your chances on a craps bet.
Three card poker – house edge 1.5%+
Another game with a house edge that narrows as you get better, three card poker ranges from just a 1.5% disadvantage against the house. If you’ve spent time improving your poker play, or working on your decision-making, you’ll be able to reduce the house edge to around this level by implementing the mathematically right move at every turn. Easier said than done, of course, but the dividend is there for those who want to invest their time and energy in getting better.
Individual game rules will influence the RTP here too, so it shouldn’t be taken as a given that you’ll be playing with a slim house edge. But if you know where to look, and which casinos to play at, it’s possible to find low house edge versions of this game.
Video poker – 0.5%-1.5%
Video poker generally offers the lowest house edge amongst the chance-based games, and even more-so when you play with max coins. In some cases, max coins even tilts the RTP into positive territory, when you factor in the bonus for landing a royal flush. As always, you need to be playing properly, making the correct decisions with every hand – but as many video poker machines do the legwork for you in suggesting how to play, this needn’t be too difficult.
Note that the positive RTP doesn’t mean you’re guaranteed to win – just that over the long term, you are not at a disadvantage to the casino over random chance. Compared to some other casino games, that’s an incredibly strong position to be in.
Slots – 2%-8%
Another low-ish house edge type of game is online slots, which tend to range from 95% RTP right up to about 98%. These are completely chance based – set your bet, take your spin, and cross your fingers that the combinations land to pay out a decent reward. You should be selective with your games, with some clearly offering a higher return to player percentage than others, but when the wins can fall thick and fast, slots can be a good option for players looking to win big.
Progressive slots often have a higher house edge, towards the 8% end of the scale – however, these are the games where the jackpots often can and do run into the hundreds of thousands, even millions – so in some cases, it may be worth chancing it with the higher house edge.
There are no right and wrong answers here. While some casino games do offer a better house edge than others, you also need to weigh up the upside potential, in terms of how much you can expect to win when things go well. Balancing these factors is what will ensure you’re in the best position to win from your casino session.
Games of chance explained
Before adventuring into the wild unknown of online casino games, you should
familiarize yourself with the rules of each game. These rules usually come
together to form a game in which the house has an edge, so the house accepts
wagers from players that will make them money in the long run.
In order to avoid any disappointment or delusions of grandeur, you should
know exactly how much luck is involved in each game you play before you decide
to invest your hard-earned money. Considering that most casino games are games
of chance, there is going to be a ton of luck built into each game, so you need
to be prepared for this.
Join us now as we explore the ins and outs of the phenomenon known as games
of chance. We will discuss what they are, why we need to know about them, and
whether they are bad news or not.
What is a game of chance?
A game of chance is, by definition, a game where the outcome is strongly
influenced by a random number generator in which contestants may choose to bet
money on the outcome. Some of these games have a small level of skill that is
required to play them optimally, but most of them require no skill whatsoever.
Nearly every casino game that you encounter qualifies as a game of chance.
This includes slot games, roulette, video poker, and tons of table games. In
fact, the only games in a casino that are NOT considered games of chance would
be poker and blackjack.
Games of chance have been around since ancient times, proving that humans
have enjoyed taking risks and playing games where the odds are against them for
centuries. Some of the earlier humans even used knucklebones of sheep as dice
for their dice games. Clearly, our ancestors were onto something when they
decided to create games of chance, because they are still a huge hit around the
globe to this day!
Luck vs. Skill (different game types)
The great luck-versus-skill debate has waged on for centuries. Most people
incorrectly think that skill games, such as poker, are based on luck. These same
people usually make the mistake of thinking that games of chance such as keno
involve any sort of skill whatsoever. Since this is such a confusing topic for
most people, we will try our best to explain the difference between luck and
skill in gambling as clearly as possible.
A game of chance is one that requires luck in order to win, while a game of
skill involves more skill than it does luck. Games of chance involve so much
luck that they are truly not beatable no matter what strategy you try to employ.
There is no level of skill that can overcome the inevitable losing result that
will come from playing a game of chance for a long period of time.
Well, in the
gambling world, skill is essentially another word for being able to use
mathematics to your advantage. Most casino games do not allow for this to happen
because the mathematics at the heart of the games are in their favor.
However, not all casino games fall into this category of chance. In a game
such as blackjack, if you are good at counting which cards have already been
seen, you have a very small edge on the house. There is also a simple strategy
to follow for those who are not counting cards which can drastically improve
anyone’s win rate.
Another great example of a casino game that requires skill would be no limit
texas hold’em. The main difference between this game and other casino games is
that you are playing against other people instead of playing against the house.
In poker, the house just takes a small rake which is extremely beatable for
those who have strong enough strategies to beat the other players. Even though
there is a small amount of luck involved, the long run will always favor the
players who have mathematics on their side. The skill part of this game is
recognizing which situations require a certain action that will result in
winning money when these actions or bets are repeated millions of times.
I’ve got a system!
No, you do not. Unless this system is a trick that makes losing the goal of
the game, you do not have a system. The reason we feel so comfortable
disputing this system claim is because of a little thing we like to call
mathematics.
You see, the reason why casinos are rich is not because they started out that
way. They became rich because they have a small edge in games of chance that
technically prints money for them every time somebody makes a bet of any kind.
These games are mathematically proven to be unbeatable due to the fact that
you do not win often enough over the long run to offset the losses that will
inevitably occur.
This has been simulated by computer programs over millions of
runs, which is not even possible for one human to do in one lifetime by
themselves. Therefore, any claims of having a system to defy the laws of
mathematics are based out of delusion and are not actually possible.
What is the house edge and why is it important?
The casino is often referred to as “the house” in gambling, and they can be
used interchangeably. The house edge is the built-in advantage that the house
has over the player in any given casino game.
In mathematical terms, the house
edge is the casino’s average profit on every bet that a player makes.
Well, for some people, this information is new to
them. Some gamblers have no idea that this
edge exists, and they think they have a legitimate chance of beating the house
in the long run if they are lucky enough.
Before you begin gambling, you should familiarize yourself with the house
edge for each game that you enjoy playing. This way you can compare all of the
edges and try to play the game with the smallest edge as often as you can.
Are games of chance bad?
After reading all of this information about games of chance, you might start
to think that games of chance are possibly a bad thing.
The fact of the matter
is, this all depends on the personal goal that you had in mind when you signed
up to play the game.
If your goal is to make enough money to live off of and start a new career,
then games of chance can certainly be considered bad.
In no way, shape, or form
will games of chance help you to start a new career, so get that idea out of
your head. Sure, you will most likely have a couple of winning months per year,
but that does not mean you have enough of an edge to win in the long run.
The entertainment value that you get from games of chance might be greater than
going to the movies or hanging out at a bar, which would make the small price of
admission completely worth it. This is the healthiest attitude to have about
gambling, and we highly recommend adopting it, if possible.
Games of chance can also be considered a good thing when you are with a group
of friends and looking for a fun activity to pass the time. Not only will all of
your drinks be free, but occasionally someone will win big, which gives
everybody a reason to celebrate and have fun.
Popular games of chance
Slots
The undisputed champion of games of chance is definitely slot games. No
matter which land-based casino or internet casino you pick, the most common
games that you will see are slot games. In online casinos, they usually make up
about 80 percent of each site’s game library and some of them feature jackpots
worth millions of dollars.
To play these games, all you need to do is put money in and then pull the
lever! For more information on the different slot games and some of the best
sites to play them on, check out our slots guide below:
Roulette
Roulette is another game of chance which you can find in nearly every online
or land-based casino in the world. You might even have to wait to play in an
brick-and-mortar casino because the tables are so packed with people. This is
not the case on the internet, and you can find tons of different variations of
the original roulette game on the internet as well.
All you need to do in roulette is place wagers on certain numbers to hit.
There are also options to bet on red, black, even, or odd numbers. When the
little white ball lands on your number, you will be paid out according to the
odds for the specific bet that you made.
To check out some good sites to play roulette on, check out our roulette game
guide below:
Craps
Craps is known as the king of all casino dice games and it is also one of the
most loved casino games around the world. There are a ton of different bets that
you can make, and the winnings can sometimes reach a very large multiple of your
original bets. If you hear people yelling and celebrating inside of a casino,
the chances are that they are located at a craps table.
For more information on this famous game of chance and some examples of great
sites to play it on, check out our craps game guide below:
Conclusion
Games of chance are a great way to pass the time for those who are looking
for entertainment at a small price. There are a ton of these games available in
both online casinos and offline casinos, so finding your favorite one is not
going to be a challenge. Some examples of the most popular games of chance that
you have probably heard of are slot games, roulette, and craps.
As long as you do not have any crazy ideas about playing these games as your
occupation, you should be on the path to having a great time. Realizing
that the house has an edge in the long run is a great way to keep yourself from
betting too hard with money that you really need.
Casino card games: which one has the best odds?
Card games have always been favorites among casino players, and blackjack has led the way as the most popular table game for more than 50 years.
Which turn of the cards gives you the best odds to win? Let’s take a look at half a dozen games from two standpoints: the house edge and how much opportunity the games give players to improve their chances of beating the house.
BLACKJACK ODDS
The house edge: the house had an edge because you have a chance to bust and lose before the dealer plays his hand. Both dealer and player bust on about 8% of hands, and if there were no other factors, the house would have about an 8% edge.
The rules give part of that back to players by paying 3-2 on blackjacks in the best games or 6-5 in games that are worse for you.
Opportunity to improve: blackjack gives you the biggest chance to improve your shot to win of any casino card game. You don’t have mimic the dealer. You can find the optimal plays for hitting, standing, splitting pairs and doubling down on basic strategy charts.
With basic strategy, the house edge can be reduced to less than 1%, the precise edge depending on house rules such as how many decks are in use and whether the dealer hits or stands on soft 17. For example, in a six-deck game in which the dealer hits soft 17 and you are allowed to double down on any first two cards, including after splitting pairs, basic strategy players face a house edge of about 0.6%. With favorable rules, some blackjack games have house edges of less that 0.2%.
Skilled card counters can go a step farther and get an edge over the house, but counting cards usually is not possible online where it is common for every deal to come from a freshly shuffled deck.
BACCARAT ODDS
The house edge: two hands are dealt, and you have three options: bet on the banker hand, bet on the player hand, or bet the hand will be a tie.
If you bet on banker or player, ties are pushes. Rules are set so banker wins more than player, but it’s close. Banker wins 45.9% of hands, player wins 44.6%, and 9.5% are ties.
Because banker wins more than it loses in baccarat, the house charges a 5% commission on winning banker bets. That gives the house edge a 1.06% edge. There is no commission on player bets, where there is a 1.24% edge.
Both of those are among the better bets in the house, but don’t bet on ties. The house edge there is 14.4%.
Opportunity to improve: all decisions on whether to draw a third card to the two-card starting hands are automatic under set rules. You make no hit/stand decisions and can’t change the odds. Your impact on your own chance to win comes from deciding whether to bet banker or player, while ignoring the tie bet.
CASINO HOLD’EM ODDS
The house edge: as in many poker-based table games, in casino hold'em you start with an ante and later make an additional bet if you like your cards. But if the dealer doesn’t have a qualifying and of at least a pair of 4s, and the bet is a push.
Players who either fold too often instead of following their ante with a bet face or who are too aggressive and make that bet even with weak cards might face a house edge of 3 to 4%, but you can improve that.
Opportunity to improve: there are so many variables in seven-card poker games that no one has yet devised a strategy chart for casino hold’em. There is a strategy calculator in which you can choose individual hands around the web.
In general, you should follow your ante with a bet and stay in action on all but the worst 18% of hands. If your first two cards are low and unpaired – meaning the dealer probably has stronger hole cards – then you’d fold. Exception: even with low hole cards, you’d stay in action if they mesh with the community cards for a strong chance at a straight or flush.
With optimal strategy for staying in the hand, you can reduce the house edge to about 2.2%.
3 CARD POKER ODDS
The house edge: as in casino hold’em, there is a dealer qualifying hand. In three card poker, it’s a queen or better – if the dealer doesn’t have at least a queen, you’re paid only on your ante and not on your bet.
If you followed your ante with a bet and stayed in every hand, you could face a house edge in excess of 5% the ante. Both your ante and bet are at risk against the dealer’s best hands, but when the dealer hand is weak and doesn’t qualify, only your ante is paid.
There is another three card poker option, pair plus, in which you are paid according to a pay table without having to beat the dealer. At the most common pay table, the pair plus house edge is 7.28%.
Opportunity to improve: you can’t improve your odds in pair plus, but there is a basic strategy for three card poker that helps in the ante-bet portion of the game.
If you make the bet only with queen-6-4 or better, you reduce the house edge to 3.37% of your ante, or 2.01% of total action once ante and bet are both taken into account.
VIDEO POKER ODDS
The house edge: video poker is based on five-card draw poker. You don’t have to beat a dealer. Your hand just has to fall on a pay table that usually starts with getting your money back on a pair of jacks or better and rises to a 4,000-coin bonanza for a five-coin bet when you get a royal flush.
The house edge is dependent on both your strategy for drawing cards and on the pay table of the game you’re playing. Even on a favorable game such as 9-6 jacks or better, an average player can face a house edge of 3% or more if they don’t know proper strategy.
Opportunity to improve: seek out the games with the best pay tables. Usually, that means checking the payouts on full houses and flushes. There are many video poker themes, each with its own pay tables and strategies, but let’s use jacks or better as an example. If you can find 9-6 jacks or better games where full houses pay 9-for-1 and flushes 6-for-1, you’re playing a higher-paying game than jacks or better with an 8-5 or 7-5 pay table.
With optimal play, 9-6 jacks or better pays 99.5%, compared to 97.3 for the 7-5 version or 96.2 on 6-5. That’s equivalent to a 0.5% house edge on the 9-6 jacks version.
MISSISSIPPI STUD ODDS
The house edge: there is no dealer hand to beat in mississippi stud, a five-card game in which you ante, see your own two cards, then may bet one-to-three times your ante after your cards, and again after seeing the first and second of the three community cards. If you don’t bet at any of those points, you must fold and lose your bets up to that point.
Payoffs are made according to a pay table that starts at a push for a pair of 6s through 10s and advances up to 500-1 on a royal flush.
The house edge derives from the pay table, and is highly variable according to your bet patterns, but can reach 10% or more of your ante if you make poor decisions.
Opportunity to improve: with multiple opportunities to bet, basic strategy is more involved than in three card poker but not as complex as casino hold’em.
With that strategy, the house edge is 4.91% of the ante or 1.37% of total action, including both analysis and bets.
SUMMARY
The most popular table game is still the best opportunity for players who put in the time to learn basic strategy. Video poker also is a game where those in the know can reduce the house edge to less than 1%, but the pay tables that make that possible are becoming less and less common.
But the other card games here have reasonable house edges and all but baccarat have elements of skill. And for a game requiring no skill and no learning curve, baccarat has about as low a house edge as you’ll find.
How to compute probabilities and chances in gambling games
Random chance plays an important role of every type of gambling game. Skill is the leverage (in terms of knowledge of the rules of the game) you apply to maximize your potential for winning and minimize your potential for losing. No casino gambling game is ever determined by skill alone.
We cannot measure random chance. And gamblers frequently mistake their knowledge of games’ probability tables for predictive knowledge. Probabilities do not predict anything. If you know the probabilities for the outcome of the next round in a casino game, you can feel more confident about your next action. That is all the probabilities guarantee you.
The casino, on the other hand, uses the probabilities to determine the maximum risk it accepts per round in a game. The casino represents those acceptable risks in terms of the odds they give per wager.
The mathematical probability of an event happening is 1 divided by the number of possible events. You add the probabilities for identical events together to compute unique probabilities. But because random chance is used to determine game outcomes, the probabilities have no effect on what happens next. And the odds do not reflect the probabilities.
Why chance and probability are not always the same
To master probability theory you only need to remember two things:
- Probabilities are computed from known data.
- Probabilities never predict the future.
Chance is that immeasurable unknown potential for the outcome you desire. We don’t know what the potential for any outcome truly is. We assume that each outcome has a probability that somewhat correlates with the potential. Games can “defy the odds” by performing way outside our expectations.
Most gambling experts seem to use blackjack to explain probabilities; these explanations are where we begin to blur the lines between “probability” and “chance”.
There are four aces in a deck of 52 cards. That means you have a 1-in-13 chance of being dealt an ace from a freshly shuffled deck. That “chance” is based on the probability distribution of the aces.
Why is it okay to use “chance” and “probability” like this?
Except for which card comes next, there are no unknown factors in blackjack games. Only one random factor affects the outcome of deals in blackjack: the shuffling of the cards.
If the dealer could choose which card came next, that would add a second random factor to the game.
When only one random factor influences the outcome of a game, the chances for given outcomes occurring tend to converge to their probabilities.
We don’t know why that is so. It just seems to be so.
Why odds are different from probabilities
You will often hear people say, “what are the odds of that happening?” ironically, odds are even less reliable at predicting things than probabilities. If you invert the probabilities for a given type of gambling game, you need to adjust the resulting numbers slightly downwards to determine the odds.
Odds have to be less than inverted probabilities to ensure that casinos make a profit. By paying back less to the players (cumulatively) than the players wager on games, the casinos can make enough profits to stay in business.
But whereas the probabilities don’t predict game outcomes the odds limit the amount of risk casinos accept by covering player wagers. From the casino’s point of view the odds are a little more reliable than the probabilities. From a player’s point of view the probabilities are a little more reliable than the odds.
How odds become almost inverse to the probabilities
When you don’t know the outcome of the games you play and you need to make a profit the only thing you can do is hedge your bets. You do this by paying prizes as if there were fewer possible outcomes for each game. Of course, casinos step aside from the odds and probabilities altogether in poker rooms and just charge a player’s fee.
Roulette offers a great example of how casinos use the odds in a game to favor themselves. In roulette the odds on a single number bet are 35 to 1, but the probability of winning a single number bet is 1 divided by the number of slots on the wheel (36 to 38). Hence the odds are never the inverse of the probabilities. This way the casino maintains a “house edge” that ensures the casino retains some percentage of player wagers.
A game can be designed around any maximum payout. If you want to award a maximum prize of 10,000 to 1 odds then all you need to do is a design a game that more than 10,000 possible outcomes.
Slot machine games are more chaotic than probabilistic
There are three types of slot games:
- The old fashioned mechanical reel games.
- Class II slot games.
- Virtual slot games that simulate old fashioned mechanical reel games.
Class II slot games use networked bingo games to determine the outcome of each spin. The reels are adjusted to form a pattern that closely matches the value of the bingo game pattern. Otherwise the maximum number of possible outcomes for a slot game is the product of number of reels and the number of slots per reel.
Mechanical reel slots typically have fewer possible outcomes than virtual slot games. A virtual slot game has several advantages over the mechanical games: the virtual game can use more stops per reel and more reels. The virtual slot games can also change their reels, and some do during bonus games.
Here is how a slot game can pay a 10,000 to 1 prize:
The game uses 3 reels with 22 slots each. This combination produces 10,648 possible outcomes (combinations). The jackpot prize is only awarded for 1 of those 10,648 possible combinations. Hence, the probability of winning the jackpot is 1 in 10,648 but the jackpot only pays odds of 10,000 to 1.
Over time the casino should make a profit from this slot game–unless the random factors influencing the outcome of the slot game just accidentally work against the casino.
Two random factors influence how a slot game’s spins are determined:
- The first random factor is the mechanism used to spin the reels. In most if not all slot games today this is accomplished y pulling random numbers from a special chip. The chip continually generates new random numbers that are temporarily stored where the game can get them.
- The second random factor is when players play the slot game.The slot game may “burn through” a lot of random numbers throughout the day. It only uses numbers when players spin the reels.
These dual random factors combined with the large number of possible outcomes make slot games more chaotic than games like blackjack and roulette.
Player decisions are always a random factor in any game
Although we do speak of the skill that one can acquire for a game like blackjack or poker, skills have limited direct impact on how these games are won or lost. That may seem counter-intuitive, but it’s simple:
In a card game two players of equal skill are limited by the random shuffling of the cards. A player with greater knowledge of the game is more likely to make better choices than a player with less knowledge of the game.
Nonetheless players are not really paid on the basis of what they hold in their hands in card games. They are paid on the basis of how much they bet and who finishes a round with the highest value hand (or in order of value for split pot games).
In video poker, the value of the hand plays a direct role in determining how much the player is paid. Still, the player has to decide which cards to hold or replace in video poker.
In blackjack, the more players there are at a table the more random decisions influence where the next card is dealt. The dealer’s randomness is limited by house rules on where the dealer must stand or draw.
How can we estimate our chances of winning?
If probabilities don’t predict game outcomes and odds are worse at predicting your chances of winning than the probabilities, how do you assess your chances of winning? Fuzzy logic offers one way forward, where you compare the most likely outcomes with the least likely outcomes. We cannot precisely measure likelihood, but we can measure things that influence it.
We said that chance is that unmeasurable potential for the outcome that you desire. Surely your chances of winning at roulette are better if you take an outside bet than if you bet on a single number. There is less potential variability in the outcome of the game. You cover more numbers with an outside bet at the cost of winning a smaller prize.
And your chances of winning in blackjack are better if you follow the advice of standard probability tables than if you just “wing it” when deciding whether to stand or draw. Again, there is less potential variability in the outcome of the game because you are reducing randomness. But the game’s transparency is balanced by the relatively low prizes you win.
You can only affect the randomness of your own choices. Hence, your chances of winning or losing are only partially under your control. But there is another way that you influence your chances of winning, and that is through your money management.
If you only look at the value of the prizes you want to win then playing maximum wagers on every round increases the chance of winning the largest possible prize. In the worst case scenario you lose every round and your stake is quickly depleted.
On the other hand if you play to preserve your stake then minimum wagers are the best strategy because you risk the least on each bet.
The following decision table aligns the pros and cons with each strategy:
| maximum bets | minimum bets |
|---|---|
| better chances of winning more | worse chances of winning more |
| fewer chances to win | more chances of winning |
Here the fuzzy logic is obvious. We cannot compute digital probabilities but we know what is more likely to happen based on our money management strategy. We are indirectly inferring our chances of success by measuring that success in terms of possible outcomes, not in terms of the possibility of outcomes. We use the best case scenario to determine the upper bounds of our success and the worst case scenario to determine the lower bounds of our failures.
We can further qualify our chances by looking at mixed strategies:
| maximum bets | alternating max / min bets | minimum bets |
|---|---|---|
| best chances of winning more | median chance of winning more | worst chances of winning more |
| fewer chances to win | median chances to win | most chances to win |
At this point it should be obvious that we could construct another table with five columns by adjusting the ratio of maximum to minimum bets (3:2 on the left, 2:3 on the right). We could extend this breakdown indefinitely without ever achieving any precision in predictability but improving our prediction in risk assessment. We cannot know in advance which strategy is best but we can decide which strategy we want to pursue.
Conclusion
Probabilities, odds, and chance are different things, but we use these terms interchangeably. There is really no harm done. Most people intuitively understand both the uncertainty of the outcomes of these games and the value of comparing the odds to the known probabilities.
When you don’t know the probabilities of a game, as when you play slots, then you can still fall back on fuzzy logic to give yourself some options. It’s a good idea to limit those options to no more than say 3 to 5. Too many choices become confusing and overwhelming.
You can use the fuzzy logic model to compare ratios of probabilities and odds instead of maximum to minimum bets. While there are no guarantees you’ll at least understand why your stake is growing or shrinking because you assessed the probabilities, odds, and chances in the best way possible.
Homemade casino games
Homemade casino decorations
Although casino games are entertaining, the odds at most casinos are not in your favor. To strengthen your chances of winning, while still preserving the excitement of casino games, try playing them at home. By creating the necessary components of a few games, you can enjoy casino fun at social gatherings in your own home.
Craps
To create a craps casino game at home, you'll first need dice. To make the dice yourself, paint eight wooden cubes red and eight wooden cubes white. Once the paint is dry, use a black marker to draw in the dots. To make the craps table, find an image online that shows the entire table. Print that image and glue it to a large piece of cardboard. You can set the cardboard on any table. If you have a pool table, place the cardboard inside for a more authentic look. For the craps sticks, use a wooden back-scratcher or purchase a wooden cane.
Card games
To play any casino card game, such as poker, blackjack or texas hold-em, you will need a deck of cards. You can either buy a deck to use or you can make your own. To make cards, use adobe illustrator or photoshop to design each card on a blank document measuring 2.5 by 3.5 inches. Use the same template to create the backs of the cards. For the back, you can either use a personal photo, a stock photo or design your own image. Print 52 of these on card stock paper, and then glue them to the face of each card.
Roulette
To create a roulette wheel, find an image online of the wheel, print it, and then glue it to a large circle of cardboard. Cut a hole in the middle. Weave wire together to create grooves below each number. Use a silver salt shaker for the center, attaching the wheel to a lazy-susan turntable. Use a marble as the ball. Online, find and print images of the roulette table and gambling chips. Glue both to pieces of cardboard.
Chuck-a-luck
Purchase or make three dice. Find and print an image of the table, and then glue it to a large piece of cardboard. To make the tumbler, first cut two circles out of cardboard, each 6 inches in diameter. Cut two circles out of green felt to glue to the cardboard circles. Bend wire to form the shape of the tumbler. To do this, start out with 20 pieces of wire, each 2 feet long. Bend edges around the cardboard circles, one on each end. Wrap three 14-inch pieces of wire together to form one 14-inch piece. Wrap that piece around the entire tumbler to create an hourglass shape. To help visualize the shape of the tumbler before you bend the wire, visit the dice cage sets website reference below.
So, let's see, what we have: before you walk into a casino, learn which casino games give you the best (and worst!) odds of winning so that you can place smart bets. At casino games chances
No comments:
Post a Comment