The Basics of the Probability Theory by a Casino Beginner
In everyday life, as you go about your business, you are likely to apply probability in one scenario or the other. Probability is also widely applied in gambling. Not only are mathematical combinations vital in the gambling field, but it is also not too far-fetched to say that probability is the foundation of all casino games.
Essentially, probability in everyday gaming is used to showcase the likelihood that a gamer will profit from playing a specific game. So, besides helping you choose an appropriate gambling game, understanding probabilities will go a long way in helping you determine whether a wager is worth pursuing. It is something you must consider even before you opt-in for promotions such as Ice Cazino free spins offers.
Each casino game you play has a statistical probability against you winning – this is what is commonly referred to as the house edge. And while the whole idea of the house edge may sound evil, it is a reasonable way of ensuring the casinos do not incur terrible losses to gamblers. After all, casinos are businesses in the first place, and they must at least be profitable to keep running. So, to fully put things into perspective, here are the basics of probability theory in some of the most popular casino games.
Keno
Keno is a lottery-like gambling game offered in many online and land-based casinos worldwide. Players get to wager by choosing numbers between 1 and 80, then after all the wagers are complete, 20 numbers are drawn at random. Each casino sets its paytable, and it is based on this paytable that you will be paid when you place your wagers.
To calculate your odds of landing a win in Keno, you must acclimate to the probability theory. Thus, in this particular game, you have a 1 in 4 chance of wagering on one of the 20 numbers randomly chosen, translating to a 25% probability of raking in wins. If you like your chances with the said probability, you should happily play Keno.
Roulette
There are many variants of the roulette game, all based on the American and European versions of the game. Calculating the winning probabilities of the two is pretty easy, with the European version of the game containing 37 possibilities and the American version containing 38 possibilities because it has an extra 0.
From there, the different wagers you can place in the game come with varying house edges. For instance, you have a 46.37% chance of winning when you place odd, even, red, or black wagers. Meanwhile, your chances of hitting a win with a column bet is 31.58%.
Slot Machines
As you may already know, slot machines are the most popular games in casinos. While there have been suggestions across many groups pointing to slot strategies, the truth is that slot results mainly boil down to randomness. This is because all modern slots are fitted with a Random Number Generator (RNG) software to ensure that the results are 100% fair.
However, you can still calculate your probability of landing a win by determining the number of combinations. So, to get the total number of combinations on offer in the game, multiply the slot’s total number of symbols per reel by the number of reels. Here’s how:
If a 5-reel slot has 5 symbols, then you will find 3125 combinations in the slot (5×5×5×5×5).
If a 4-reel slot has 6 symbols, then you will find 1294 combinations in the slot (6×6×6×6).
But then again, it is worth noting that while more reels mean more winning combinations, it also means you get to increase the level of your wagers. Additionally, for slot machines, you must consider the game’s RTP (Return to Player rate), a figure usually set by the provider or the casino. The higher the RTP, the higher your chances of winning.
Bottom Line
Outside the probability theory, many other variables may contribute to increasing your chances of winning at a casino game. Of course, you cannot win a game that you don’t understand in the first place. You must find out what makes the game tick, starting from the basic rules for beginners, and then sharpen your skill by practicing as much as possible.
Essentially, understanding the probability theory behind the casino game you want to play is the first step to mastering the game. And as you continue with your learning journey, study a few gaming strategies here and there so that you can make the best moves when you put your money on the line.
