Calculating The Odds For Casino Games
This could just be the article you read and finally come to the realization that you really should have paid more attention all those years ago in your math classes. The reason is quite simple as calculating the odds for casino games is all about Math and, more particularly, having an understanding of the statistics and probability that a certain occurrence may, or may not, happen. So, if your math is a bit rusty, here we will need to think about how likely something might happen, how likely it might happen to you and, if it does happen what will you get from it - which is the odds.
So just what are the odds exactly?
Say you flip a two sided coin you’ve a 50:50 chance that it’ll fall heads or tails and the odds of flipping, say, heads are 1 to 1. Put another way, with 2 possible outcomes statistically you have one chance of winning and one chance of losing. On the other hand rolling a six sided dice and wanting the outcome to be a two - statistically the chance of you rolling a two is 1 in 6, but the odds that you will roll that two are 5 to 1. So, the odds are the number of times something won’t happen to the number of times it will happen - to you! But, ah there always has to be a ‘but’, in a casino game you’ll come across two types of odds and you need to be clear which one is being given. There are the true odds you’ll be thinking of, which refer to the actual chance of something happening; whereas the payout odds are probably less generous to give the casino its edge. We’ll try and cover the casino edge and expectation in more detail in another article.
To and For odds
Another point to watch out for with casino odds is the difference in for and to odds. Say you’re playing Blackjack in an online casino. If you’re dealt a natural, your first two cards total 21, you can expect a payout at odds of 3 to 2. So, a $20 bet wins $30, giving you a total of $50. However, if the odds were to have been 3 for 2 - your total winnings would include the original amount wagered; so for a $20 bet you’d win $30, but that $30 includes the $20 you originally bet - so your profit here is just $10.
You can start thinking odds
Whether in a real one or an online casino playing craps is one game that, should you wish to, you really should be able to calculate the odds as you’re playing to help inform your betting. It’s easy enough to start with, there are 36 possible combinations from two dice - so your odds are 35 to 1 on rolling any one particular combination. Whilst that’s easy enough for sure - it really isn’t feasible to expect yourself to be capable of calculating the odds in every game. For example, if your favorite casino game is slots, as they have literally thousands of combinations then adding on the progressive slot jackpots - and the numbers become cosmic in proportion. However, although slots are not a casino game to even contemplate calculating the odds for, Blackjack is another matter entirely and there’s plenty of help out there about counting Blackjack cards to help you calculate the odds.
Calculating poker odds
As mentioned above playing Craps and Blackjack in a casino it is realistic to calculate the odds to determine the chances of a specific outcome. The other casino game in which calculating the odds is important is poker. The following is just to whet your appetite on poker odds as, again, it is a topic worthy of several articles itself. Before playing at a poker table you really should familiarize yourself with some of the basic poker odds. Such as, in a game of Texas Hold ‘em, the chances of holding a pair of Aces or Kings as a starting hand is 119 to 1 or on the Flop converting a pair to a full house is 136 to 1 etc. Even then when you’ve mastered how to calculate the card odds you’ll need to start thinking about pot odds too. Sounds complicated, well it is to an extent - but understanding how to calculate poker odds is what separates the successful and best players from the lucky ones and drifters.