Online Gambling Odds Explained

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Posted: January 17, 2023

Updated: January 17, 2023

  • Your chances of winning in popular casino games
  • How to beat the house and maximize your winnings
  • Online gambling odds explained

Whichever casino game you choose, it can’t hurt if you are aware of the chances of winning, so the probability, and the house edge that casinos work with, ensure that they don’t lose money and stay on the market for a long time. Check out our article about online gambling odds explained!

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What are The Odds?

The odds tell us how much chance gamblers have of a given outcome of a particular game. They usually determine them in two ways. One is the fractional shape. For example, in 10/1, 5/2, etc., if you win, you get the first one, so 1 dollar becomes 10 dollars, or in the second case, 2 dollars become 5 dollars, etc. Then there is the decimal form. In this case, the fractional form is expressed in % form using a very simple formula: probability, %, = B / (A+B). 

For instance, if the odds are 10/1, then 1/(10+1)=0.09, so the probability is 9%. It may seem hard at first, but you can become an expert with a little practice and preparation. However, how do they develop these chances in various casino games? Each game is different, but we listed the most popular online gambling game odds, so scroll down for their details! 

Online Gambling Odds Explained! 

As mentioned in our article about all roulette types explained, the house edge for American and European roulette is different. In the case of the American version, the casinos work with a 5.26% profit, while for the European version, it is 2,7%.

Online gambling odds explained
Picture Source: Pxhere

On the other hand, many people believe that blackjack is a game in which the probability of winning is the highest. Regardless, it does not hurt to have the online gambling odds explained and know the chances of going over twenty-one!

Based on the various strategies, odds calculators can be found on the Internet in chart form, but there are also those where online software calculates our chances by setting the parameters, and you won’t feel lost even in an Android system, there is help at online casino sites in the US! Long story short, the probability of winning is around 40%, while the dealers’ chances are a bit higher at approximately 49%.

Texas Hold ‘Em Winning Probability!

When you watch a poker broadcast on television, you can see on the screen that the player’s chances of winning are based on the cards in their hands and on the table. In this case, the percentage depends on how many cards are left in the deck that can improve the players’ situation, called outs.

For example, if you have the Queen of Spades and the 9 of Spades in your hand, and the Jumbo of Spades, the Two of Spades, the Seven of Diamonds, and the Ace of Diamonds on the table, you can calculate your chances like this:

Let’s take all the cards that can be good for you, which is 13, minus all that is in your hand and on the table, so 4. Therefore, the result of the number of outs is 13-4=9.

Online gambling odds explained
Picture Source: Pxhere

You can calculate the chance of a flush from this hand too. The number of cards in the deck is 52, minus the number of cards in your hand, which is 2, minus the four community cards on the table, so 52-2-4=46. Of these forty-six, a total of nine outs are good for you, and 37 are not. It looks like this in numbers: 46-9=37, so 37:9, simplified approx. 20%. If you don’t want to count, there are great charts on the Internet for this purpose, as well as many calculators, even for Android.

Online Gambling Odds Explained! 

It is probably the game of dice where it is most difficult to calculate the odds, but, in order to be able to take advantage of the various betting opportunities, it is necessary to work your way through the different combinations and their chances. For instance, pass odds/ come odds or the don’t pass/ don’t come odds. Let’s see a few examples of online gambling odds explained and the best and worst dice bets! 

If the dices show two, so 1-1, then the odds are 35:1, which means a 2.7% probability. However, if the sum is seven, so 1-6, 2-5, 3-4, and vice versa 6-1, 5-2, 4-3, the odds are 5:1, so around 16%. As you can see, it’s more likely to throw a seven than two with two dice. For more details, check out online casino sites in the US and their winning probabilities! Also, you can give it a try at Ignition Casino!

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Slot Chances of Winning

Regardless of what many people believe, slot machines are based on a random number generator, RNG, so each spin is independent of the one before it and the one after it. In the case of slots, the house edge is also quite high, typically over 7%. It means that it is almost impossible to win with a slot machine several times in a row long term. In the case of online slots, the RTP, percentage return to player, or payout rate, can usually be found in the rules but is typically around 93%, which means that $7 out of every $100 will go to the casino.

On the other hand, theoretically, if you perform a hundred spins for one dollar each, so you spend 100 dollars on the game, you will get back 93 dollars in the form of a prize for 100 dollars. However, based on the RNG, you can even lose all 100 dollars in reality. In traditional land-based casinos, the house edge is usually higher, up to 27%, and when you hear that someone has hit the jackpot and won a big prize, don’t forget that the odds of this were millions to one! Check out the biggest slot wins of all time!

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