Now, there is always a 50% chance of winning and a 50% chance of losing. Say you’re wagering on the outcome of a coin toss. As such, whether a bet is a good one to take is decided by the ratio of the potential profits versus the probability of winning. The likelihood of a certain outcome is just as important, if not more. After all, a bet with a payout of 100:1 is nothing impressive if it barely has a chance of winning. Think of it this way – how ‘good’ a bet is is not decided solely on how much it pays out. Don’t worry – this post won’t get into probability theory too much, but understanding these can be key to developing a good roulette strategy. In gambling circles, this is often called betting value, but the underlying ideas are the same. The first thing we need to examine is a mathematical concept simply referred to as expected value. What is the House Edge?įor starters, let’s look at the broader picture. There are complicated mathematical explanations, of course, but let’s look at it in layman’s terms. The house edge is a statistical advantage the casino has over players in all casino games. The reasons why the house always wins are always right there in front of your eyes in the form of RTP rates. But have you ever wondered why the house always wins? And before you ask – no, it’s not because casinos cheat or scam. The house always wins.’ Whether you’re an experienced gambler or a complete newbie, you’ve probably come across this expression.
