The Odds of Winning
Online Gambling of any kind is a numbers game, whether your forte is online roulette, online blackjack, online baccarat or online craps your wagers should be based on knowledge of the game as well as an understanding of the gambling odds. When armed with this information you become a serious contender by making better choices, increasing your casino win rate and eventually turning a favorite hobby into a profitable pastime.

Casino Odds are mathematical calculations of the likelihood of a given outcome. One example could be “the coin toss” there is two possible outcomes; the likelihood of it coming up tails is a 1-2 chance or 50-50. Figuring odds is relatively simple once you understand the total number of possible outcomes. The easiest way to calculate odds when more than one item is involved is to calculate the odds for one item and multiply the number of outcomes for each item… Ex: When rolling a dice there are six possible outcomes per dice. So if you are rolling 2 dice there are 36 possible outcomes. (6-outcomes x 6-outcomes = 36- possible outcomes. Once you have figured out this equation you will be able to determine the probability of any one outcome or series of outcomes occurring. In the game of online craps you can bet the dice will come up “any craps” which is a 2, 3 or 12. Now there is only one way to roll a 2 with a pair of dice and only one way to roll a 12 with a pair of dice. But there are two ways to roll a 3, one dice rolls a 1 and the other a 2 or the first dice comes up 2 and the other a 1. Therefore there are four possible ways to roll a craps out of 36 possible combinations. So the probability of rolling craps is 1/9 or 11%.

This formula can be used to calculate the probabilities of virtually any outcome in any game and also to figure out changes in probabilities. Let’s take a look at the game of blackjack. In a single deck blackjack game the probability of drawing a particular card changes according to how many cards have already been dealt and what those cards are. If there are 3 blackjack players and the dealer sitting at the blackjack table and they are using a single deck of cards, assume you are the first player to receive a card; the odds of getting an ace are 4-52 or 7.5%. Now the odds of you getting a 10 value card are 16-52 or 31%. After the first card is dealt including the dealer, the odds change. Now lets say in the first round one ace was dealt on the table, your blackjack odds of getting an ace this round decrease. Your probability is now 3-48 or 6.25%.

Take the time to learn how to calculate your odds and eventually you will see an increase in your win/lose ratio.

Casino Games of Chance

A game of chance is classified as a game where the outcome of each event is independent. Just like flipping a coin, the odds of winning always remain 50-50% there are no other variables. Online Casino Games of chance are online roulette, online craps, online bingo, online keno and online slots. The results of a spin of a wheel, toss of a dice, drawing of bingo numbers and keno numbers and the pull of a slot arm don’t have any other factors that affect its outcome. Purely “chance”. Therefore there is nothing that you can do to increase a favorable outcome, the odds never change.

Casino Games of Skill
A game of skill is classified as a game where knowledge and proficiency at the game can greatly improve the odds. Online blackjack and online poker games fall into this category. The better you are at these games and your ability to calculate odds will inevitably increase your winning ratio. In online blackjack understanding the basic blackjack strategies can significantly improve your game. Likewise can be said of online poker strategies as well. Having the basic understanding of what to hold and what to fold, probabilities of completing a particular poker hand, etc. will vastly improve your online poker game.

Sports betting and Horserace betting are games of skill as well. When you have a level of knowledge and understanding of the outside influences will affect the way you bet thus increasing your win/lose ratio. More often than not if you go with a” hunch” or your “gut” you will probably lose more gambling loot than you take home.

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