Have you ever been confused about how casino odds are calculated? Perhaps you are keen to stick to games which offer you a greater chance of success.
While some players enjoy having the occasional flutter on an outside chance, it is good to stick to online casino games with good odds if you want to have a longer playing session. Here we will explain how the odds of casino games work and offer some guidance on how to best approach certain games.
Casino Odds Explained
To recap the basics, odds can be expressed as fractions or percentages. They deal with the probability an event will happen and how much a player will win if they bet on that outcome. Fractional odds are written as 10/1 and percentage odds are 11.00. With 10/1, you will receive £10 back from a £1 bet if you win.
Casino odds work in the same way as any odds. While betting on a horse in the Grand National may display the odds more obviously, these kinds of odds are always there working away as you play a casino game.
How do Odds Occur in Games?
As you are waiting for the river card to be dealt in poker, there will be a certain probability that it will be the card you want. Considering these odds can help players decide whether to bet, and how much to bet if they do decide to play.
This type of chance comes about naturally from how the game of poker is designed. Other games have a more calculated set of odds. In slot games, for example, the developers can decide what they want the Return to Player percentage to be, and what the odds for each symbol appearing is.
The Casino House Edge
One of the most important things to bear in mind when it comes to casino odds is the house edge. The house edge is the advantage the casino has over the player. If the house edge is 5%, then 5% of the money taken in by the casino is kept as profit, with the rest being distributed to players as winnings.
A key strategy is to reduce the house edge by playing smartly, in addition to choosing the right game in the first place. In roulette, the house edge comes about from the green zero space. Red or black is perceived to be a 50/50 outcome but actually the zero reduces your chances.
Making the Smart Choice
You should always opt for European roulette because American roulette has two green zero spaces, which increases the house edge from 2.7% to 5.26%. Of course, roulette offers many options for odds, with the outside chance of choosing the right number offering odds of 35 to 1. Most roulette strategies are based around the close-to-50/50 bets, such as red or black.
In slot games you can reduce the house edge by choosing games with a high Return to Player (RTP) percentage (97% or higher). The RTP refers to the amount of money returned to players as winnings in the long run. You may want to prioritise other factors, such as the game’s theme, or perhaps the soundtrack might take your fancy. In the end, everyone has their own priorities.