Understanding the Odds of Gambling

The difference between sports betting and casino games might be vast on the face of it, but at their core both mediums rely on the same thing – odds. Learning how to find the best odds, handle them in the correct way and exploit them for your own gain is the goal of every gambler whether they’re in punting on sports or anteing up at the blackjack table.

While it’s possible to use betting calculators to understand your returns in the sporting arena, it’s not always as easy to do the same for casino games. While it’s easy to get a handle on the finer points of an online casino thanks to independent reviews by platforms such as casinosites.ie, access to the nuances of each case game aren’t as readily available.

Fortunately, a lot of this knowledge isn’t a secret and if you’re prepared to spend a few minutes reviewing some vital stats, then you can become just as much of an expert in casino odds as you can for betting odds.

A Quick Look at the House Edge for Three Casino Games:

Banker – 1.06%
Player – 1.24%
Tie – 14.36%

Vegas Rules – 0.28%

Single Zero – 2.70%
Double Zero – 5.26%

A Closer Look as Casino Odds
Basic Baccarat Odds:
Betting the bank in a game of baccarat means you can gain a 1.36% edge over the casino which would suggest this is the best way to exploit the odds and beat the game. In fact, this point becomes even more pronounced when you compare this to a 1.36% disadvantage when you bet on the player.

However, whenever you play at an online or live casino, the house will impose a 5% tax for betting on the bank. This means that when you combine this tax with the edge gained from betting on the bank, you’re left with an overall house edge of 1.17%. Although this is still very much in the casino’s favour, you can see that it’s actually more profitable than betting on the player hand.

Real Roulette Odds:
Roulette comes in two distinct forms: single zero and double zero. If you ante-up in the former, you’ll be exposed to a casino edge of 2.7%. In contrast, the casino has a 5.26 advantage over the player if they take a spin in a double zero game.

For example, if you bet $10 on in a single zero game, you’ll effectively lose $2.70 per spin in the long term. In contrast, your theoretical long-term loss in a double zero game if you consistently bet $10 per spin would be $5.26. What this shows is that the power of playing at an online casino gives you the chance to take the more lucrative option and play single zero roulette.

Breaking Down Blackjack Odds:
When you play Las Vegas blackjack rules, the dealer has to stand on soft 17, but players can double any two cards. Additionally, re-splits are allowed which means there is more scope for making high risk moves. Another important point to note when assessing the odds at the blackjack table is that live blackjack games often use six or eight decks while online casinos will vary their options between one and eight decks.

For every deck you add into the game, the house edge increases by roughly 0.02%, so when you have the option to play a single deck game online it naturally means you have more chance of winning than if you were in a live setting. If you contrast the 0.28% house edge in a liberal Las Vegas game with a double deck game online, you’ll typically encounter a ratio closer to 0.12%.

Uncovering the odds in the most popular casino games is something the canny gambler should do as a matter of practice. As we’ve said, gambling on casino games or sports is essentially a mathematical battle of odds.

Assessing the stats and using a betting calculator for a big race is common among pro punters. However, this isn’t something the majority of casino players will do. Making money in either medium is a matter of odds and the more you know, the more you can make and that’s why you we suggest you run the numbers as much as possible.

Photo: by JanetR3