The theory of probability in online gambling

For ordinary players, gambling online casino are nothing but entertainment. But in reality, these games are made fair thanks to the application of many various formulas. The said formulas have always attracted the curiosity of the players. The latter firmly believe in the theory of probability and the possibility of influencing it.

What is probability theory? What does it refer to and how is it used in online gambling? These are the questions to which this article answers.

This theory is actually a branch of mathematics that deals with statistics and the modeling of random events. To put it simply, its purpose is to model the way (random) events actually occur and to give a mathematical explanation.

To put it simply, if a player has a 50% chance of drawing face up, he must also calculate the probability that he has to fall 3 times in a row on a pile: 12.5%.

Nowadays, it is quite possible to play several games of money and chance on the Internet. The indicated RTP (Return To Player) allow to have an idea of the chances of victory. It should also be remembered, casino games are methodically tested by eCOGRA and other control bodies, just to reassure themselves of their fairness and to award them RNG. All this is done before they are made available to the players.

All these measures are taken in order to reduce any attempts to influence the results of these games.

Mathematics generally makes it possible to have exact results, but this is not the case in the context of games of chance. In probability theory, there is a value called variance.

The RTP is expressed as a percentage and is always below 100%: between 95 and 98%. This means that a player should always get back an average of 95-98% of his bet. It goes without saying that this is not necessarily true, because if it were the case, it would mean that players are guaranteed to always lose their bets. It is therefore at this level that the variance, also called volatility, intervenes.

Machines with low volatility usually have a slightly lower variance than normal. They yield almost the expected value of the RTP. The gains are certainly possible, but small. This type of slot is mainly designed to allow players to win on a regular basis, even if it is very little.

Slots with very high volatility/variance, rarely give victory, but when this happens, the winnings are very high. The gains here (high) deviate from the value of the RTP.

Casinos are establishments that seek profit. Because of this, they make every effort so that it can always be so. It is therefore not easy to beat them according to their own principle. However, it is not uncommon for some people to win big winnings and radically change their lives.

By examining the theory of probability in games of chance and analyzing several different spins, it will be easy to see that high winnings are very rare in casino games. We must be careful not to make an amalgamation: victories exist and are very real, but we must remember that they are rather rare.

When we apply probability theory to the previous analysis, a few lessons easily emerge from the lot. First of all, it should be remembered that it makes more sense to bet only small amounts on these games, especially if they have high volatility. By doing this, you make sure that you do not lose large amounts of money.

It is not enough just to play because you want to have fun and/or because you want to make a lot of money. It is up to the player to take the trouble to pay attention to the amount of money he puts at stake in each of his bets. In general, the volatility of a slot machine is always mentioned on the casino interface. But it may happen that this is not the case. In such a situation, it is up to the player to test the machine regularly so that he can form his own opinion.

Calculating the probabilities is far from being an easy exercise, especially with the slots that have become more and more modern. Very often, the manufacturers are the only ones who know exactly the RNG of the machine. So you have to be very careful.

The main purpose of gambling is to have fun in all circumstances. But if a player really wants to start winning big, he needs to try the same machines and the same games of chance repeatedly and for a long time. Then he will have to calculate the various statistics, analyze the frequencies and the amounts of winnings. With all this data, he will be able to make money more easily if that is his goal.