Ever wonder why some punters seem to win more often? There’s a secret weapon they use: math. Yep, the same stuff we learned in school.
The good news? No need to be a whiz to use it! A little bit of knowledge can help you wager smarter. Read below to learn more.
Key Concepts to Grasp
House Edge
First off, the house edge. Every game you play has it. It’s the casino’s inherent advantage over the bettor.
Take roulette as an example. Bet on a single number? The casino’s edge will be 5.26%. From $100 spent, you’ll lose $5.26 on average.
House edges vary across games. In slot machines, this figure is around 5-10%. Blackjack? When using strategy, you can cut it to less than 1%.
The house edge can be a pointer for choosing games. Based on this figure, you can pick options with better odds of winning.
But sure, reputable casinos like Neospin Australia will be fairer towards their bettors, leaving them more winning chances. That’s why I strongly recommend choosing only verified platforms.
Probability
Moving on to probability. It’s the chance that something will happen.
Playing card games? You’ll draw an Ace in 4 cases out of 52. Or with the probability of 7.7%.
What are your chances of rolling a six in dice games? 1 out of 6. Or, 16.7%.
Know your odds for this or that stake? Use these figures to plan your wagers better.
Expected Value
Next up is the expected value (EV). It’s how much you can expect to win. Or lose. That’s an average figure.
To calculate EV:
- Multiply the probability of each outcome by the expected win/loss amount.
- Then, add them up.
Say, you’re spinning a slot machine. Your chance of winning $100 is 5%. Your chance of losing $1 is 95%. Then, the expected value is:
(0.05 * 100) + (0.95 * -1) = $5 – $0.95 = $4.05.
Expect to win $4.05 for every spin on average. As you can see, this figure is positive. It means a bet is good in the long run.
Negative EV? You’ll lose over time.
Variance
Okay, let’s talk about variance. It’s about how much your results can differ from the average. High variance means big swings. That is, you might win big or lose big. Low variance means steadier results.
For example, slots with big jackpots have high variance. You might play for a long time without winning. Then — boom! You hit a huge jackpot. Games like blackjack or baccarat have lower variance. Your wins and losses will be more consistent.
Understand variance and manage your expectations. With high-variance games, be prepared for long losing streaks. And yes, have enough funds to ride them out.
Strategies Based on Math
Ready to dig deeper into math-based strategies? Below are some applications for popular games:
In blackjack, the basic strategy rocks. The charts can tell you the best move based on your cards and the dealer’s up card. Card counting is a bit harder. You track which cards have been dealt and use this knowledge to your advantage.
In poker, it makes sense to understand pot odds. Are the pot odds better than your odds of making a winning hand? Then, it’s a good bet.
Say, the pot is $100. You need to call a $10 bet. The pot odds are 10 to 1. Are your chances of hitting a winning hand better than that? If so, you should call.
RNGs: The Tech Powering Casinos
Virtual casino games run on Random Number Generators — RNGs for short. These are computer algorithms that produce outcomes. For example, you spin a slot machine. The RNG decides which symbols appear.
Some punters think they can spot patterns in casino games. With RNGs, every spin or deal is independent. There’s no memory of past outcomes. Thus, no way to predict what will happen next. That keeps the games fair and unpredictable.
Wrapping It Up
Math might seem tedious or tricky. But now you know that it’s your friend in betting. Grasping the concepts I’ve covered will help you make informed moves. Math-based strategies can tilt the odds in your favor.
Now, a quick heads-up. Math helps you play smarter. However, it doesn’t guarantee wins. Use it to make better decisions. But, most importantly, enjoy the ride!
