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Online Gambling Odds Explained 2020

Knowing the function and purpose of odds is the first step every player must take to achieve success in online gambling. Odds contain the information you need to evaluate when it is convenient for you to place a bet. It's not as difficult as most people would think, and here at GamblingHero, we're glad you trust us for a quick introduction to this fascinating part of gambling. We assume that you have already gone through the process of opening an account, and how to deposit money into an online casino account.

  • RTP indicates the probability of winning
  • RNG must be tested and fair
  • Certificates show the seriousness of an online casino

What's a game's Return To Player percentage?

Also known as RTP, it represents the expected return of funds over a certain amount of received money. A slot machine with a 97.26% RTP, is programmed to give away prizes for $972,600 when it has received a million dollars in wagers. It doesn't mean it will wait for that moment to pay the whole amount, but gradually it will begin paying small, medium, and large winnings. It's not possible to know precisely when, but it definitely will, as long as a Random Number Generator drives it.

The most common games and their RTPs

It is impossible to have a stable RTP for a game, as long as there are many versions of it. French, American, and European Roulettes have different RTPs, for example. Let's have a look at how they perform and their most common RTPS.

  • Slots: Slot machines have RTPs that can range from 70% to 99%. The lowest ones are logically found in land-based casinos, which is part of why online casinos are better. When gambling online, aim for slots that pay more than 97% to improve your chances of winning, as stated in our 13 powerful casino tips that actually work.
  • Blackjack: It's a little bit tricky to estimate what a blackjack's RTP is since there are many variables in place, like the rules on splitting Aces, surrender feature, hard and soft 17's, among others. Some players use an online gambling odds calculator to evaluate their preferred blackjack version with precision. As a general rule of thumb, players should aim for terms and conditions like Blackjack pays 3 to 2, a dealer who stands on soft 17 and being able to double down on any first two cards.
  • Roulette: The same does occur with the game of roulette. The best RTP you'll ever get from a Roulette will come from playing the French version of it, which allows you to call for half your bet when the ball lands on zero when the rules of "la partage" and "in prison" are permitted. Try to avoid its American version, since it has a double-zero that elevates the house's edge to more than 5%. In lack of a French version, go for the European version, which also has one single zero and the expected RTP is -$0.027 for every dollar you bet.

What's a Random Number Generator?

Casino specialists and software programmers refer to the RNG as the father of the current success of the whole electronic gaming industry. It is responsible for producing random results according to the RTP that has been indicated in the system, and will not create any bias.

Games like the land-based casino roulette have been hacked before because there are physical variables that could lead to a small bias, which is all an expert con man needs to make a profit. Take the example of the Roselli Brothers, who made millions of dollars after detecting patterns in the outcomes of the roulette wheels. With RNG's warranty of randomness, players can rest assured they're engaging in a fair game and trust casinos.

Know that these RNGs might not be active when playing on online casinos, learn everything you need to know about Social Casinos and understand why their operators do not always employ some of these concepts.

What's volatility and why is it essential for me?

Also referred to as variance, this is a relevant attribute of both online and traditional slots. It represents the relation between two variables regarding the payouts: the frequency and size of the payments. To get online gambling odds explained, they're often split into three variance groups.

  • High-volatility slots: These are the games that involve a greater risk to achieve a higher goal. The payout frequency is lower, but the prizes are higher. Think of it as betting on a single number on the roulette: you'¡ll have to bet many times before actually hitting the number, but when you do, it's payday! Make sure you're handling a nice bankroll to back up your strategy, as you'll probably have to stay there for a while to actually see the profit.
  • Low-volatility slots: Opposite to the prior one, Low-variance slots offer the smallest payouts but significantly more often. You're in for a treat if you enjoy extending your experience risking less money. They're also perfect for beginners, make sure your first slot experience comes from a Low-volatility slot.
  • Medium-volatility slots: When Low and High volatility slots get married, Medium-volatility slots become their kids. They have a mix of great prizes and low costs to play for them, and many former low-volatility slots players migrate to them when they consider the other option to be too aggressive on their budgets.

Where do I get this information?

The advantage of playing on online casinos is that the information about volatility is often available. Nevertheless, if you found yourself in love with a slot machine theme, and can't find information about its frequency of payments anywhere, GamblingHero will tell you a secret to get a hold of that data. Go over the payout information of the slot machine, located inside the game or under the Help section, and write down how much do four vs. five straight symbols pay. If the difference is around four times, you're in the presence of a low-variance slot. 10 to 15 times will tell right away it's a High-volatility slot. Anything in the middle of those numbers can be considered medium-variance.

The great virtue of patience: How does it apply for gambling?

Many of us have been engaging in a game that requires a constant amount of minimum bets to fit our purposes, but after some time we get tired and raise the bar to get a little more excitement. This is seen a lot when playing blackjack. The fact remains we must stick to our bankroll management plan and take no further risks to accomplish our goals. We must address these plans objectively and don't let the pressure force us into making rush decisions, make our own online gambling odds comparison, and even use a calculator to estimate our online bet odds.

Knowing how to place your bets, evaluating the odds by comparing games, and understanding how to wager through an online casino bonus is not enough to increase your chances to beat the house. You will have to exercise patience regularly to avoid skipping your current betting strategy. Register now with an online casino featured by GamblingHero and get access to all kind of techniques and secrets to outperform your friends in casino skills.

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Odds will always favor the house, let's cut it to the minimum!
Now you know that you must restrain from playing the American version of the roulette. Also that the main thing to avoid is 6 to 5 payments when you've been dealt a blackjack, and that slots with an RTP% below 95% are not worth your time. You've also learned how to withdraw money from an online casino account. We're glad you're taking these steps forward into becoming a more efficient and patient player. These casinos are already making a considerable profit, let's raise the bar a little by educating ourselves!

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