Gaming Odds Part I
Every time you bet at a professional establishment, there are a series of odds that are mathematically calculated to determine the probable outcome of the result. The higher the number the less likely you are to be successful in your bets. Tossing a coin gives you a one-in-two chance of being correct on a call of heads but will win you little money whereas placing a chip on 0 on a Roulette table is a one-in-thirty seven chance of the outcome ending in your favour as a result of there being 37 different numbered zones on a Roulette wheel. Most players enter into a casino often just to play their favourite game on the off chance of winning some money, but few stop and think which games offer the best odds of success. Those that do often walk away far more successful and it is what professional gamblers use to increase their chances of scooping the prize.
Poker is one of the more popular games played in casinos and a good understanding of the odds can help a player establish a significant advantage. With games like poker and Blackjack, the odds are forever changing so if a player is aware of these changes it is only of benefit to them and they can calculate their odds of success in relation to the number of cards available. In poker the odds on having a single pair are 1-in-2 from a total of over one million combinations, so if playing at a table with five other players, you would be safe to assume that at least two other players are holding a single pair also and then you can judge your bet according to the cards in your hand. But because the hand is so common, it is safe to assume that one or more of the players at the table might have two pairs, 1-in-21 odds, or higher, particularly when playing Texas Hold’em where the availability of the 5 table cards allows players a wider range of cards to choose from. At the opposite end, with only four combinations and odds of 1-in-649,740, in the unlikely event of receiving a royal flush, you would be pretty safe in the knowledge that you could bet your stake and come away with a winning hand.
Also in poker you can judge your bets by using implied odds. Implied odds is basically whether there is enough or more money in the pot to cover the odds of your hand becoming successful. If you have 3 Kings in your hand and you calculate the odds of receiving the fourth and final King to be 1-in-40, then there must be forty times your raise in the pot to make your gamble worthwhile.
Blackjack is the most popular of casino table games. It is a fun and exciting game that combines skill and chance, but for the most part it is popular, because it is beatable. With the right skill set it is possible to reduce the house edge to a manageable and beatable figure of about .80% which gives a player a significant chance of victory and far more likely than other games such as Roulette. To begin with, it is important to learn basic Blackjack strategy and then once having mastered the basics, combine it with a few more advanced systems.
In Blackjack, like poker, the odds of receiving a card are ever changing due to that card that was dealt previously. A player can calculate the odds of receiving the card he or she needs by acknowledging what has preceded it. If playing with a single deck, it is far easier to keep track of what has been dealt and what remains, but regardless of how many packs are being used it is still possible to calculate the odds. If being dealt to first, the chances of receiving an ace first card are 1-in-13. Should you receive one you know that the odds of the dealer receiving one of the three remaining aces has risen to 1-in-17 thus increasing your chances of success over the house. Keeping track of the cards that have been played also allows you to determine when it will be best to hit or stay or when to perhaps split a pair or double up on 10 or 11.
Next to games with ther best odds part 2.