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Saturday, January 22, 2022

What Are the Odds of Winning on an Online Casino?

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Chances are if you’re playing in a casino, your goal is to win money, even if you’re playing online. Some gamblers feel that their odds are lower when playing online, and many users don’t trust casino websites to be fair. How can you be sure that the game hasn’t been rigged when you can’t see what goes on behind the scenes?

Is online gambling fair?

Casinos are big businesses with the goal of turning a profit, and online casinos are no exception. To keep turning this profit, they need to keep their customers coming back. If they were rigging their games and there was no opportunity to win, it’s highly unlikely consumers would keep returning to their sites to play.

Staying in business means keeping customers happy. For this reason alone, online casinos need to be safe and secure. It’s unwise for them to place their customers at risk. There are also legal regulations that online casinos must adhere to with regard to ethical gaming practices. Breaking these laws would cause them to be shut down.

In the end, it’s up to the individual customer to decide whether they trust an online casino to be fair, but there’s no evidence to suggest they’re unsafe or unfair. In reality, they are one of the safest online enterprises. 

Running on the assumption that online casino games are fair, some games have better odds than others. 

Your odds in an online casino

Your odds of winning in an online casino are directly tied to which game you are playing. Two types of odds apply:  Fractional odds and percentages. Casinos list game odds in both types, so it helps to know what these odds mean.

Fractional odds

As implied by the name, fractional odds are written as fractions. 8/1, 5/2,7/4, and so on. These odds make it easy to identify your chances of winning. Using 8/1 odds as an example, if you wager on the second number, the first one wins. This means you win $8 if you bet $1. 

Percentages

While fractional odds are easy to figure out, they don’t give you your “chance of winning.” They simply tell you what your payout will be if you win. High payouts don’t equal good chances. To figure this out, you’ll want to convert your odds into a percentage.

If the odds were 9/1, you convert this to a percentage by calculating probability =B/(A+B). In this case, 1/ (9+1) = 0.09. Then multiply by 100 to get a percentage. So we see that 9/1 odds equals a percentage of 9%.

Online odds compared to traditional casinos

The gambling industry has worked very hard to ensure that your online casino experience is as close to the real things as you can get. If you’re playing a game like poker or blackjack, your odds aren’t going to differ much from an online game versus a game played in a brick-and-mortar casino.

One game provides you with better odds when played online, and that’s the slots. Some online slots have odds that are 98% or better. Compare that to real casino slots, and you’ll find some of those machines carry odds as low as 73%.

Final thoughts

The thing with casino games is that the better you’ll get, the luckier you’ll get. This principle applies to online casinos too. To improve your chances of winning, you need to have a strong strategy, understand the odds, and know when to quit.

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