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How To Calculate Your Casino Game Odds?

To be a successful gambler you must understand the odds of the game you’re playing, its payouts and betting strategy if you want to give yourself a sporting chance at beating the house (the casino’s edge over the player). Initially it seems like a lot to process but the good news is you don’t need to be a mathematician to let the casino’s game odds work in your favour.

Casinowhizz provides a not too complicated guide of the odds of the most popular casino games be it at land-based or online casinos.

 

Calculating The Odds of Casino Games

Smart gamblers know how to work the odds of a casino’s game to their advantage, the outcome of the game can be determined in 2 ways:

Fractional Odds

They’re written as a fraction of 8/1, 5/2 and so forth. It’s easy to calculate your chances of winning when you play them; if you wager on the second number (odds of 8/1) the first number wins. To break it down for you, if you wagered a dollar you’ll win $8.

Should the odds be 5/2 odds and you wagered $4 you’ll win $10. In other words the value of every second number you wagered, the first number wins as well as the stake on your return.

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Percentages

With the help of simple percentage formula the fractional odds can be converted: Probability (%)=B/(A+B), in the fractional odds A and B are the first and second numbers.

If we use the 9/1 example the formula will play out like 1/(10+1)=0.09, in layman’s terms it means the probability of it occurring will be 9%. This type of odds occurs more in sports betting than on casino games, some time the odds can be jotted down as decimals, for example:9.0.

As a rule of thumb each casino games’ odds differ.

 

Texas Hold’Em

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In televised poker based on the cards lying on the table, each player’s hand is displayed as a percentage which outlines their winning chances. Known as ”Outs” the percentage is based on the number of cards that’s still left in the deck that helps the player improve his/her odds at winning that hand.

Let’s say the player holds Q♠ and 9♠, the board cards on the table are J♠ 2♠ 7♦ A♦, to win the hand the following calculation must be done:

If you take the number of cards in any suite which is 13 by the way, subtract the number of spades on the table and the ones you’re holding (4):

13 – 4 = 9. Therefore, the amount of outs you’ll have will be 9. To calculate your odds of completing the flush you must do the following:

In Texas Hold’Em there are 52 cards in a deck. The amount of cards you have in your hands are 2 while there are 4 cards laying on the table (community cards) which equals 46 (52-6). If you subtract 9♠ from 46 it equals 37, the odds of you winning the hand will be 4/1 or 20% (displayed as a percentage). Out of the 46 cards 9 cards are left for you to complete the flush and to score a win. Strictly speaking 37 cards are left, your odds at winning the hand is 39:9 or 4:1 (20%).

However, there’s another way of doing this simple math:

After the flop you can calculate the number of outs left in the deck. To determine your winning card on the turn or the river multiply the amount of outs by 4. Once the turn card is displayed multiply the number of outs by 2.

There are two roulette variants, American and European, each game has its own edge to the house. On all the best made in American roulette the house edge hovers around 5.26% (2/38) and 2.70% (1/37) if you’re playing European roulette. To determine the house edge you must divide the total number of of slots by the amount of zeroes on the wheel. If the house edge is 5.26% (2/38), 2.70% (1/37), the odds on any even money bet be it on red/black, odd/even will be 47.37 (18/38) if you’re playing American roulette and on a European wheel we’re looking at 48.6%.

Your odds of winning the bets on individual numbers are way lower as opposed to betting on bets other than black, red, odd, even, 1-18 and 19-36:

 

Blackjack

Many experts will agree with us that blackjack is one of few casino games where the odds favour’s the player. To be good at blackjack you must understand its basic strategy. Your odds on a multi-horse shoe will look like this:

If you have a 10 and 2 your chances of busting is 31%, a 10 and 3 your chances of busting will be 38%, a J and 4 your chances of busting will be 46%, if you hold a Q and 5 your odds at busting will be 54% and if you hold a K and 6 it will be 62%. It goes without saying that in blackjack when your hand value increases your odds at winning the hand decreases.

 

Craps

In craps there are a slew of different bets which makes it one of the most difficult games to master. Before you can become a decent craps player it’s essential that you understand the ‘rolling different numbered combinations’ first:

The more you play craps the better you’ll become at it, it’s not impossible to have a load of unbeatable streaks. The hottest streak in the history of the game was at the Las Vegas Desert Inn in 1950 where a player had 27 straight wins (passes), for what it’s worth the odds of gaining this feat is 12,467,890 to 1. Luckily for the casino the player’s bets were small if he bet the house limit on each roll he would have won a mammoth $268 million. To find out more about craps visit this page: https://casinowhizz.com/site/interesting-facts-craps/

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Slots

Each spin on a slot game is governed by a random number generator or short for RNG. Novice players believe that there’s amount of ”payoff cycles” a slots goes through on every spin, this is not the case.

Aside from their interesting and captivating themes slots are very popular with players because they have one of the highest payback ratios, some of them can be as high as 98%. Unfortunately the game has a negative player advantage which means that in the long run the casino will always win no matter what betting strategy you employ.

If you want to find out a online slots theoretical return to player (RTP), amount of bonus games (free spins) and symbols that pay the top cash prizes, click on the Paytable (?) or help screen. The payout percentages of slots can be anything from 90% up to 98%. Progressive jackpots slots have RTPs of 92% because of the life-changing payouts they offer-the tighter the game is the bigger the payout.

If house edge of a slots is 96% it means that for every $100 wagered you’ll win $96. In general the house edge of slots offered at online casinos are way better than that of their land-based cousins. The RTPs of some of the Vegas slot machines can be as low as 73%. The biggest slots jackpot ever won is $39,710,826.36, the player overcame the odds of 16 million to one.

In summary. We often heard that the better you become at something the luckier you get, the same principle applies to playing casino games. To improve your chances at winning you must understand the game’s basic strategy, its rules, odds and know when to quit. Remember, no matter how good a player you are over the long haul the house will always wins.

Reference

1. https://www.casino.org/what-are-the-odds/

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