When you try looking up online casinos, you’ll usually find guides saying that the gameplay at these platforms is generally based on luck. Even if you learn strategies and rules for each casino game, it’s still quite impossible to predict the outcome of each round correctly.
This is where casino odds come into the conversation. Learning how these odds work isn’t something that’s reserved for professional gamblers. Instead, it can be helpful to all players who want to make smarter choices, manage risk, and recognise what systems and claims actually mean.
Today, we will tell you exactly how casinos set odds, why the house wins in the long run, the role of randomness and testing, and what players can do to approach gambling with a clear mind. We’ll talk about concepts such as house edge, variance, and random number generators, as well as give you tips that you can use to turn the odds in your favour. Let’s get into it!
The Idea Behind Determining Expected Value
Whether you’re playing with your own money or with one of the best high roller casino bonuses by Casino Crest, it’s understandable that you would want to make the most of those bets. Any professional gamer or person who is at least somewhat knowledgeable in casino games would tell you that the expected value is something to look into.
This expected value tells you the sum of every outcome’s probability multiplied by its payoff. It’s calculated using a specific mathematical equation that helps you determine the exact house edge. While making the calculations yourself might not be the easiest, you can always look up the expected value and house edge to determine how often you can expect to win and lose. For example, the house edge on European Roulette is approximately 2.7%, whereas for American Roulette, it’s 5.2% due to the double zero.
House Edge vs. Return to Player Percentage
Now that we’ve mentioned the topic of house edge, you may be wondering how to use it to maximise your winning potential. In this case, two key factors to consider are the house edge and the RTP, or return-to-player percentage.
While the house edge tells you the average percentage the casino expects to keep from each bet, the RTP is the complete opposite, giving you the average percentage that players can get in return for each bet they make. If you are looking to get the best return, you should aim for games that have RTP rates of at least 96%, but the higher the number climbs, the better your return potential will be.
Variance or Volatility
Another thing you need to understand well if you want to get the best outcome of each gaming session is to take variance or volatility into consideration. These values are commonly mentioned in connection with slots, but they are also essential for tables, whether video or live dealer ones.
There can be low-variance and high-variance games. The low volatility tells you that the casino will provide smaller wins and losses more frequently. As for high volatility, you can expect rare big wins and many small losses. With the latter, you might hit a jackpot after you get a long string of losing spins, or you can go long stretches without a meaningful payout.
Random Number Generators
As the team of casino experts that stands behind all of the reviews you will find on the Casino Crest website, we have years of experience testing games and overall platforms. Within each guide we write, we always recommend that players stick to RNG games, as these are the systems that determine the outcome of every spin, shuffle, or deal.
If you want to know which casino games are the most random, we advise you to look into each game that is RNG-based. These systems are essentially types of algorithms that, when used in a game, help ensure that the outcome of each round is random and the game cannot be rigged. There are two types of RNG systems that you can find used in casinos, which are pseudo-random number generators (PRNGs) and cryptographically secure RNGs (CSPRNGs).
While both have their perks and shortcomings, they still help ensure that the machine or game provides unpredictable outcomes. So, it’s a safe bet for players looking to play games with random outcomes.
How to Approach Gaming Safely and Protect Yourself
Even if you know all about RNG systems and RTP rates, as well as volatility and expected value, the theoretical side of things can only be so helpful. We recommend focusing on tips that can help you keep perspective and protect yourself, and here are a few ways you can do so:
- Set clear intentions: Before you start gambling, always determine your intention. Always consider gambling as something you do for fun, to blow off some steam, instead of something you do to make a profit. Recognise that the math favours the casino over time.
- Manage your bankroll wisely: The next thing you should do is always keep in mind the amount you are ready to spend on wagers and that you can comfortably dedicate to gambling. If you need help wagering wisely, use responsible gambling tools such as deposit, loss, and wager limits to keep your spending in check.
- Manage your time: Another thing you should always keep in mind is the time spent gambling. Your free time can be dedicated as you wish, but if you start blowing off social gatherings or replacing the time you need to work to gamble, then you might be moving into problem territory. It’s best to take frequent breaks while gambling to get a clear head and reset your emotions and judgment.
- Choose reputable platforms: Finally, always gamble at casinos that have a valid gambling license, as these usually ensure that the casino focuses on RNG systems and provable fair games. The license provides a much-needed backup so that you know randomness is genuine.
Once you understand the science behind casino odds, you can use them comfortably to make more educated wagers. Whether you play for entertainment or attempt more serious strategies, keeping the math in your corner is the best way to stay in control and have more fun while doing it.
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