In order to be victorious in any casinos it is really essential to know and understand what are the game odds and casino house edges.
Casino house odds are basically the basis for casino payouts which could be used both in land-based or online. These odds are where the casinos make money since the higher the house edge the more loss a player obtains, hence the more profit casinos gain.
These odds however can have different approach depending on which game you are playing. Thus, with a better understanding on the probabilities or likelihood you might get, you will now have a greater advantage in gambling to any casino. But you don’t necessarily need to be a math genius to know your odds though because it only requires an understanding on how likely an event is going to happen during the match or if how much does a player get if that scenario occurs.
What are the ways of knowing the probabilities?
There are actually two ways to write and understand the likelihood of a match. It can either be written through Fractional Odds or Percentages.
- Fractional Odds
- These types of odds are logged as a fraction in which your rewards can be easily calculated. If you bet on the second number then you will win the first number such as if the odds are 10/1 and you bet on $1, your reward will be $10 if you win.
- Percentages
- This odd simply converts the probability of that in Fractional Odds thru a percentage having this formula: Probability (%) = B / (A+B). You just have to substitute the value of A by the first number while B for the second number. Hence, if the odds = 10/1, then 1/(10+1) = 9% probability that the event will occur.
Which has better odds? Online Casinos or Land-Based?
Brick and mortar casinos do not actually give higher payouts because of its high operating costs. They still have to pay for monthly rental expense and need to employ more staff to accommodate all the players. The machines should also be well-maintained in order to provide better services to their customers that is why their payout has only an average of 88%.
Online casinos on the other hand do not have any worries about these costs because everything is online. They got no monthly real estate rent and need not to hire a lot of staff. They also have no machines to maintain since everything is in their virtual site. Therefore, their operating costs are extremely low compared to offline casinos. Most virtual casinos like online trueblue casino are even offering extra benefits to their valued players thru giving of bonuses and more chances of winning. They also offer variety of online games which can be played on a single online gambling site unlike traditional casinos where you still need to go from one casino to another to play more of these games. With these reasons, the average range for online casinos would be 95-97% making it obviously better than that of land-based casinos.
Source – https://pixabay.com/photos/game-bank-use-jeton-place-roulette-1003151/
