If you plan to gamble, wouldn’t it be a good idea to first really understand how gambling works? Most forms of gambling are based on a few common concepts. Learning about these concepts will help you understand why gamblers usually spend more than they win. It can also help you to gamble responsibly and stay within your limits.
Here’s a sampling of the concepts we’ll talk about:
Randomness
Casinos make sure their games are random and unpredictable, making it IMPOSSIBLE to figure out a system for predicting what will happen next. Find out how they do it.
Independence of Events
In most casino games, previous results in NO WAY affect current or future outcomes. Learn what this means to the players and what games are exceptions.
Why Gambling Will Cost You Money
Gambling operators have ways to make sure that, over time, they always make money. Find out exactly how they do it.
House Advantage
All casino games have a “house advantage” ensuring that, over time, the house ― AND NOT THE GAMBLER ― will make money. Find out how it’s done.
House Advantage & Randomness: How They Work Together
These two concepts are key to understanding gambling. Learn how they exist together in a variety of forms of gambling. Also learn why house advantage, paired with randomness, ensures that ALL GAMBLERS, even if they win sometimes, will eventually lose more than they win over time.
What is Your Cost of Play?
Learn how you can predict what it might cost you to play an hour of your favorite game. Then learn to figure out what you might be spending over the course of a year.
Winning at Gambling: It’s Short Term Only!
If you gamble with the hope of making money, this description of “short term volatility” versus “long term predictability” may change your mind.
Return To Player (RTP) and Hit Frequency
These are terms casinos often use to describe how much and how often their machines will pay back to players. Read on to find out exactly what these ideas mean to players.
Does Skill Work?
Skill plays absolutely no role at all in many forms of gambling, while in others skill can play a part, although a small one. Find out when skill can play a role and which games are based purely on luck.
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Have fun and learn about gambling by playing our Pick a Card game.
All casinos make sure their games are random and unpredictable, making it impossible for players to accurately predict what will happen next. If you think you can figure out how to “beat” the games you like to play ― and therefore win a lot ― please read on to see how randomness works when it comes to gambling.
