Why Knowing Math is Important in Gambling
It may come as a revelation to many, but mathematics and casinos are closely related. Most gambling games were invented and developed by mathematicians, and the principle of casino operation is based on mathematical calculations and a certain probability of numbers. Not all people understand that, which leads to big losses in a short period of time. In order to get a better understanding of how to win in online casinos, it is very important to learn maths and how it is related to the online format of gambling.
Thanks to this guide, it is much easier to see direct indicators of how mathematics has impacted online casinos. Even such elements like free spins no deposit no wager have a relation to probability theory. With this knowledge, it is going to be much easier to use bonuses properly and win much bigger amounts of money than in case of casual gambling.
Gambling In Terms Of The Probability Theory
Developing new gambling software for online casinos is a never-ending process, and mathematics is a key part of it. Different maths models calculate the average RTP rate in games or the time frame during which players receive winnings. It is very important data, because it shows which game is going to provide more chances to win real money for players who are interested in money making more than in the uniqueness of the gaming process. The games are developed in a controlled manner and every aspect is precisely calculated by professionals who are familiar with the science behind different kinds of games.
For players it means only one thing – it is not possible to rely solely on luck to win certain gambling games. Mathematics has been and still is a part of gambling and can be used equally in the interests of players and online casinos. In fact, these days this is true more than ever, because in order to create even a basic engine for modern gambling websites, people already need to know different formulas and programming languages. But users might be wondering what probability theory has in common with online games – more than meets the eye that is for sure.
Speaking about the mathematical probability of winning a game – in this case the ratio of the number of unfavorable outcomes of the event to the number of favorable ones is often taken for analysis. It is true for all kinds of games:
- Slot machines;
- Table games;
- Specialty games.
To make it clear for people who are bad at math, here is an example: when tossing a coin, each of its sides can fall out with the same probability. There are only two possible outcomes – heads or tails. The probability of falling a tail is 50%, which means, it will fall in half of the cases. Probability shows how often our expected result can be achieved. If it is zero, the event will not happen in any case scenario. This shows that each game has its own probability rate that is called RTP.
What is an RTP?
Experienced players have already encountered RTP at least once while playing games online, but considering there are a lot of those who did not, it is important to talk about it in detail. By cutting straight to the chase, RTP means “return to the player” rate. The name says it all – RTP is a coefficient that determines the regularity of gambling games payouts, calculated in relation to all bets made and expressed as a percentage. It gives people a perfect understanding of what they can expect from a certain title in terms of money making.
Most legal online casinos RTP of various slots is more than 90%. This means that most of the money that was put into online games are given back to players. The simplest example that shows how it works looks like this – if for the entire time the game was available for players it has received at least 70000 dollars and the RTP is 95%, players will receive 66500 dollars in the form of winnings of varying sizes. According to the RTP indicator of each game, players can calculate how much the casino earns in the long run.
Is it necessary for players to be good at mathematics in order to succeed in gambling?
Many players may be wondering if they need to be really good at maths in order to be successful in gambling. The reality is that it is not necessary to be a great mathematician in order to start playing in the casino. It would be really hard for mass players to understand complex concepts such as mathematical expectation, probability theory or know the law of large numbers. Everything has already been studied and analysed a long time ago, players can simply use pre calculated strategies in order to enhance the chances to win really big amounts of money.
Thanks to the statistics that are available on the internet, it is easy to see that games with a high value of mathematical expectation are more profitable for the player, since they have a smaller casino advantage. For example, when it comes to choosing a proper table game to play in the category of roulettes, the simplest recommendation is to use the European version as it has only one “Zero” section. In the case of this game, the advantage percent of the casino is only 2.7, while in the American version that has 2 “zeroes” sections – 5.26 percent.
But players should understand that it is difficult to accurately predict success or failure. Of course, gamblers can roughly calculate the percentage of winning combinations using special formulas, but users should remember that the mathematics of online casino games works in the case of frequent scrolling. To roughly calculate the next win, players need to spend a lot of money on testing bets and play games for a long period of time. There are just too many different factors that can directly impact results, which make it difficult for the player to analyse the situation and determine the probability of the event.