If you enjoy gambling, chances are, you already know the mechanisms behind casino games – both online and otherwise. However, if you are new to it and are looking to find out how things work, and how exactly odds are arrived at, you might need to know about certain gambling concepts, such as the following, in order to assess your chances, and make the most out of your games.
Casinos ensure that the games are unpredictable and that the outcomes are random. Online casinos make use of algorithms that should not involve the creation of a pattern that will enable the gamer to predict what will happen next, or for the casino to alter probabilities and consequently, outcomes.
While the outcomes themselves are random, there is such a thing as House Advantage that affects your chances of hitting the jackpot. You have probably heard of the adage that the house always wins. That is not exactly the case; however, casinos do maintain a mathematical ‘edge’ to ensure that they make money, especially in the long run. This is put into effect by two things – the rules of the game, and the odds. The rules of the game, including the equipment to be used, typically favor the house. A prime example is the rule in Blackjack where if both the player and dealer go bust, it is only the player that truly loses. Gamblers are aware of this though and this should be in no way viewed as cheating because it works hand in hand with randomness to still create opportunities for winning. Veteran gamblers are aware of this and puts this into the equation when assessing risks and calculating probabilities during games.
The independence of events
This concept is closely related to randomness and it is one of the things you should be aware of if you’re planning to spend a lot of money gambling. You need to determine whether the independence of events is applicable for a certain action. For example, after throwing the dice and getting 6, what appears the next time you throw it has nothing to do with what appeared when you previously threw it. Most gamblers are superstitious though, believing that certain events could happen as a result of something else, without considering the randomness of such events in mind. For example, they might end up thinking that since they wore red socks the last time they won at the craps table, they are going to win again if they wear red socks. Be careful of that way of thinking.
The truth is, in many kinds of games, skills do not matter at all (e.g. slots, craps, and roulette). There are, however, certain games where skills and calculation of probabilities can help increase a person’s chances of winning. For example, blackjack and poker are not purely a game of chance. This is why there is such a thing as poker tournaments, and that casinos are wary of card counters.
All of these lead to a single conclusion – that gambling should primarily be viewed as a form of entertainment, as opposed to a way to earn money. If you keep this in mind whenever you play games in online casinos, not only would you be able to make wiser decisions; you would also have a stress-free and more fun gaming experience.