Pennsylvania officially becomes 4th state to legalize online gambling.
Earlier today, AP Reporter Marc Levy twitted that Governor Wolf has signed H 271 bill. A bill which legalizes online gambling within the borders of Pennsylvania.
Are you trying to find your luck in a casino game? Or you’re waiting for that one move to win the jackpot?
Do you want to get your money’s worth in a casino? Keep on reading because this guide is for you.
There’s a lot of confusion in people’s faces when they read or hear about casino math. It seems like a foreign term best left for professional gamers and operators.
We’re here to tell you otherwise! Whether you’re a professional player or a casino operator, casino math is for you. It’s the key to getting your money’s worth.
Allow us to tell you now that casino games are easy to unlock, whether you’ve been playing for years or not! Why? It’s because of all the gambling mathematics behind the entire system.
You read it right, the inescapable subject of math plays an essential role in all this. You wouldn’t believe how much casinos make because of it!
Truth be told, there’s no such thing as being lucky in casino games! Sometimes, all you’ll need is some math to get your money’s worth. Today, we’ll tell you the secrets behind playing casino games and how math can help you win.
You might be wondering, what is the benefit of understanding casino math? Will it make you a great player? Will you win bigger?
Well, we can’t guarantee that you’ll be a great player. But, we can ensure that you’ll be a wise player, earning tons in the long run.
Whether you’re new to understanding casino math, we’re here to help you! There are several factors you need to consider, and we’ll go through them one by one.
Let’s start with the fundamental, easiest consideration for understanding math casinos.
Most casino operators have a gauge of how much a player is worth to them. Often, they’ll know a player’s worth based on the following:
All those put together, help casino operators figure out a players’ earning potential! These factors also help operators determine how much they expect to win from them.
In many casino games, identifying a player’s earning potential is important. It’s one of the considerations in how much they receive as a complimentary!
Most casinos have a standard policy of how much they give back to their frequent players. These are called complementary.
Often, the complimentary is matched on their earning potential, so the next time you visit a casino, watch out for that hotshot!
He’s probably receiving a lot of complimentary, and you’ll know he’s one of the high rollers. Who knows, you might even be one yourself!
Many high rollers and frequent players receive rebates and discounts. These are especially helpful for them, and it can take different forms!
But what do rebates and discounts have to do with math? Simple, these rebates and discounts are based on the theoretical loss of a player. By tracking the earning potential of a player, they can forecast the loss they may make.
Whether you’re a new player or not, this is all important. It determines the rebate a player can receive!
But, this often varies with high rollers. Tracking their theoretical loss is harder than other players.
For one, employees themselves have to observe the wagers of these high rollers. From there, they can work on figuring out the players’ theoretical win and loss.
In some casinos, a lot of high-end rollers account for the revenues and profits made!
Consider these high rollers as essential players! Thanks to them, casinos have a continued cash flow! Without them, consider the casino dead! In short, high rollers are the saviors of casino establishments.
How do these high rollers affect the house edge? Often, as a reward for their play, many high rollers are given dead chips. These are gaming chips used for gambling but can’t be exchanged for regular chips or cash.
Why would anyone want to get dead chips if they can’t be exchanged? Simple, they can be bought at a discounted rate.
These chips can be used for wagers, like normal chips. Once all the dead ships are used, and he wins, all the chips go to him!
Only then can he exchange the dead chips for cash! Simply put, you can enter a game spending less than the regular price, but for the same amount of chips! Now that’s a bargain!
Using dead chips alters the advantage in a game. But, no matter how effective these dead chips are as bonuses, they need to be used in caution.
Too much of these dead chips can cause the house edge to go low. The result? Players having the edge instead of the house.
The goal of all casinos is to entice its players. It’s one of the easiest ways for them to increase their business and generate revenue. How do they do it?
Casino operators are smart! You would think they’d put a price on the game, right? Well, that’s where wagers come in. Casino’s can manipulate their prices and can take either of the following forms:
Most of the time, you’ll hear those strategies as ‘promotions.’ Don’t deny it, sometimes it entices you! They have the effect of lowering the house advantage, which is favorable to you!
Not only that, but you pay a reasonable price to enter the game without feeling so much loss.
As favorable as this seems to casino players, the same isn’t true for casinos. Too much of these promotions lower the house advantage. The end result? A revenue disaster!
If casinos aren’t careful enough, they’ll end up losing profit in exchange for more players. There’s a balance that needs to be satisfied. After all, we all want a fair game.
The world of casinos isn’t new to the terms odd and probability. In fact, the casino world wouldn’t be the same without them!
When we speak of probability, we refer to the likelihood of a card or number to occur based on a timeframe!
Odds, on the other hand, are different. What we look at with odds is the number of times an outcome doesn’t occur, based on a time frame.
Every time you play card games, there’s some odds and probability you’d have to consider. For example, in a single deck, what’s the probability you’d get a spade? Probably a 1/4 ratio.
These odds and probability, taken together, affect the payoffs in a match. It helps level the playing field, betting on the chances a card may or may not occur.
Should You Bet on Mathematics? Yes. With the multitude of probabilities, there’s always a game to win. It might be a standard deviation from the usual luck you call on, but the mathematics can get you just as far.
Gambling involves some strategy, and in some cases, a lot of luck. On the other hand, there are some games where strategies just don’t work, no matter how good they are.
For now, we’ll focus on playing strategy cards that let you alter the house edge. Things might get complicated, but once you’ve fully understood how it works, it’ll be a breeze.
A great example to start with is baccarat. You might have played it once or twice, at least. When you play the game, the best strategy to remember is to always bet on the banker.
If you fancy a game of craps, the best strategy is to always put your bet on the don’t pass line. These strategies are easy to remember for beginners!
But, things are a little more complicated for other games. This could include video poker, blackjack, among others.
These card games, unlike roulette wheel games, involve different layers of strategy! The strategies are too many to identify, we guarantee you can’t find it in one book.
Nevertheless, we’ll still have some strategies for you to live by. In a game of blackjack, the best way to lower the house edge is to have the best hand.
The same goes for other card games! Luckily, there’s already a chart which combines all the mathematical possibilities! You’ll know for sure if you’re holding a good hand.
There’s only one thing you need to know when entering the casino. You’re fighting against the house advantage. It’s something most casino operators can manipulate, which players can win against. How do they do this?
Winning against the house advantage isn’t that impossible. It usually starts with who the players are and their chances of winning.
True, identifying the player who has more chances of winning is hard. But, this isn’t the only consideration involved. It could also depend on other factors like the nature of the game, its rules, and the skill level of the player.
Warning, this is where things start getting tricky! To help you understand how house advantage works, we really need to get into the specifics. Don’t worry, but we’ll make it easy for you.
Every player has a “Wager Expected Value” (EV). It’s determined based on how much a player wins or loses in the long run, based on their bets.
If a player exhibits a negative EV, then he can expect to experience losses in the long run. In the point of view casinos, the EV is equal to the percentage of house advantage.
The house advantage represents the percentage of money casinos keep. In games like craps and roulette, computing the house edge is easy! While some games need more mathematical analysis and simulations!
Even so, one thing for sure, the house advantage is the price casinos owe to players in a certain game.
1. Playing in a positive player edge
A positive house edge exists in nearly all casino games. This causes a lot of players to experience a high when playing, but end up losing.
Why does this happen? This is all because of the promotions marketing a positive edge! It sounds good from a player’s perspective, but definitely not for casino operators.
Some casinos make the mistake of advertising positive house edge games too much! The end result, they give the players the advantage instead.
However, this isn’t always the result of positive house edge games. For new players, they can end up losing money in the long run, increasing the house edge. You don’t want that.
The trick, to striking a balance, is to avoid playing in games that have a significant house advantage.
2. Overcoming pure chance games
Pure chance games, or luck games, are undeniably fun to play. The outcome is always different, no matter how consistent you play.
One thing’s for sure, regardless of your skill and strategy, you can never change the probability in a game of luck.
Pure chance games include the normal slot machines, roulette, craps, keno, baccarat, among others!
Now, if you’re looking for a game that offers the best probability and house edge, you’d want to start with baccarat.
Although roulette and keno are fun to play, the house advantage for these games usually is bigger. Nonetheless, it also offers big rewards.
3. Games requiring skills
Your skills play a vital role in how you play! Games like blackjack, video poker, among others, require a great rate of skill! Why? It’s because your expertise affects the house advantage of these games!
Blackjack is a popular casino game, and it’s the best game for players to showcase their skills. It’s also the perfect game to exhibit the best probability and odds of many casino games!
Whether you play video poker, blackjack, or other poker variations, one thing’s for sure. The house advantage will always vary depending on the number of cards played, rules, among others.
You bet! For many years, math has been an essential element in the success of both gamers and casino operators.
Knowing the mathematics behind every casino game helps them figure out their revenue, and the losses they might assume.
The first person who has an interest in Casino math is the casino operator! Understanding math is very crucial for their role!
It helps them create a reasonable expectation of profit and loss based on a player’s experience. More importantly, they understand that players want to have a great gambling experience.
The goal behind understanding math for many casino operators is to provide every player with a memorable casino experience. Even if it means weakening the house advantage.
Players are more likely to continue gambling in the casino when they feel pampered and don’t lose as much. The results? A lower house advantage, but with a continuous flow of profits and a happy player.
Compare this to casinos that have strong house edges. It leaves players discouraged because they lose money quickly! He wasn’t able to maximize the whole casino entertainment experience. The outcome? A strong house advantage, but with only a few players to generate profit from.
How do casino operators balance between maintaining a competitive house advantage and happy players? This is where new varied games come in! These are the “fun games” with a small win rate, but nevertheless fun to play.
In sum, regardless of how many games a casino operator has and how fun they are, players don’t want to play in a game where they can lose their money quickly.
There are many great casino game players out there. However, have you ever wondered how many of these players maxed their full potential?
There are undoubtedly a ton of players out there, but only a few of those truly understand the importance of gambling mathematics! Only those who understand how casino math works know how it affects their profitability.
A great casino player knows how to use math to their advantage. It helps them manage their expectations in terms of their winning and losses. Not only that, they know when to make the sacrifices.
For example, a player might feel justified to spend a little more on a game, if he’s feeling confident about accepting the losses.
It may also be because the player has already calculated the number of losses he’s ready to accept in exchange for the profitable win! The possibilities are endless.
If you want to be a successful gambler, then you’d want to use and understand math! You don’t necessarily need to have a math degree.
Heck, you don’t even have to love math! All you’ll need to do is reduce the house edge when you can!
Consider math as a standard deviation from the usual things you hear. You don’t need to be a lucky person to win! We all have Edward Thorp to thank and his application of the probability theory!
So what are you waiting for? It’s time to go to a casino, play, and test your math! Who knows the probability of you winning this time could be big! We’re sure you’re ready to hit that 1 million jackpot!
We’d love to hear from you and how we were able to help! Feel free to share the article and our site with your fellow players!
Pennsylvania officially becomes 4th state to legalize online gambling.
Earlier today, AP Reporter Marc Levy twitted that Governor Wolf has signed H 271 bill. A bill which legalizes online gambling within the borders of Pennsylvania.
Earlier this week, Pennsylvania Senate and House of Representative passed H 271 bill which is set to legalize online gambling within the state borders. We are keen to set things straight and figure out what is the future of online gambling in Pennsylvania.
Until Wednesday, Oct 25th online gambling was illegal in Pennsylvania. However, a bill that legalized online gambling and online poker was passed by Pennsylvania Senate on Wednesday and passed by Pennsylvania House on Thursday. Many consider this to bthe biggestst gambling expansion since the state legalized land based gambling a decade ago.
