Betting on games of chance is a pastime that many people worldwide enjoy. What they don’t realise is math is involved in gambling just as much as chance. Many games allow you to use math to your advantage. With others, the math behind the game is only used to help casinos like bet365 earn money.
Our expert author, Sultés Szilvia, has given valuable insight into mathematics in gambling and finding a winning system. Read on to find out why maths is essential in gaming, some common misconceptions about it, probability and random events, and how math is used in different casino games.
Why Is Math Important in Gambling?
Math is the basis of how a casino makes money. If an operator doesn’t understand the mathematics behind games and how they relate to profits, the casino may bear the strain. Operators and players must understand the concept of “house edge” and how it keeps revenues in the green.
Understanding the math behind a game can also help meet and regulate players’ expectations for their gambling winnings and losses. For example, knowing your country’s gambling winning tax rate can be crucial since technically, those gains will be “less” if you have to pay some back as tax. Hungarian players have nothing to worry about in this regard as Hungary only taxes operators and not players. *
Common Misconceptions
Casino Games Are Rigged
While we have explained that the math in all casino games works in the house’s favour, games are not rigged to make people win or lose at certain times or to make the casino massive amounts of money per game. Games all work on random events, and online ones are run on random number generators that a third party must evaluate before being licensed.
There Are Hot and Cold Numbers and Games
This is a similar idea to “casino games are rigged”. You might play a game or a specific number, and it’ll pay out well. It’s important to remember that all these games are random, and each round has nothing to do with the one before.
You Can Beat the Game Using Betting Systems
Most casinos have limits on games to avoid betting strategies such as the Martingale system. Regardless of this, the idea of “beating” the game is a fallacy in itself as each one is ultimately geared toward making the house money every time and not you.
Your Luck Must Eventually Change
Many players believe after a long losing streak in gambling, the probability of winning is increased. There are many reasons that this isn’t accurate. Mainly because, as we mentioned, casino games are random and your odds have nothing to do with the ones you’ve played before.
Dependent and Independent Events
Random events come in two forms: dependent or independent. Dependent random events happen without being affected by the previous result. An example of this in a casino is a slot machine.
Dependent events are determined by the outcome of the previous event. An example of this is card games: the second card you get is contingent on the card you had before and the cards on the table and in the dealer’s hand.
Mathematics in Card Games
The math skills involved in strategic card games is pretty impressive. Along with simple scorekeeping, players keep track of the amount and types of cards to predict what’s in the other players’ hands. Then they use that knowledge to anticipate their probability of winning. Many card games are games of wit and smarts, and playing them well requires practice and skill.
Slot Machines and Lotteries
Slot machines and lotteries are entirely random. No amount of math can help you predict when you will win or lose, and none of the outcomes are dependent on each other. You can research to see what slots have statistically given more back to players in the past with statistics like return to player and volatility. Ultimately, every spin is random.
Conclusion
Mathematics is an integral part of casino games, but it won’t make you win every time. No matter the amount of strategy you put into a game, ultimately, the outcomes are random.
Understanding the math behind the casino games you’re playing can help you manage your expectations and know how to stop gambling when you’re winning.
