A layman might say – “what’s the difference, in the end, you’ll always lose”. It is a fact that any form of gambling exists due to the unpredictability of the events people wager on. If it wasn’t so, it wouldn’t be called gambling, because chance is a vital part of its definition.
Well, sports betting is part knowledge, part luck, and it has been around as long as sports have. In recent decades it has exploded into a worldwide phenomenon, and people place bets on every sport imaginable.
However, the truth of the matter is, the bookmakers know just as much as you do, thus, they set the odds accordingly. In order to win big, you have to bet on more games or on certain events occurring during one. This lowers your chances and increases the bookie’s edge.
While there’s no question that sports betting is more scientific than other forms, let’s analyze and see exactly by how much.
Casino Gambling
While it used to be fashionable to go to a casino to put a bet down, today you have a casino on your phone. Online casinos are taking over the industry, with Casimba Casino being on the forefront. And with features such as progressive jackpots, bonus rounds, free spins, and loyalty programs, it’s easy to see why. The only question that remains is which game to choose? A well-known card game, or a five-reel slot?
Casinos are in business because they always have an advantage. The house edge may differ from game to game, but it’s always there. Obviously, your chances are lowest at slots, but if you play Blackjack or Baccarat, the house edge gets as low as 1.4%.
Poker
What kind? There are so many variations. When you say the word, Texas Hold’em pops into most minds first. However, there’s Seven Card Stud, Omaha, Razz, Five Card Draw and more as examples. There are even some variations invented specially for casino gambling, like three-card poker.
According to pro, David Stamm, in Texas Hold’em, three out of every five players are long-term losers. The numbers add up to something like this, 20% are long-term winners, 20% are marginal ones, while 40% are marginal losers, and 20% are major ones.
Bingo
Calculating your odds in bingo is very simple. It’s just the number of cards you’ve got divided by the number of cards that are in play. If there are a thousand cards and you bought ten, your chances of winning are 1%.
Some bingo sites even tell you how many cards are in play, so you can calculate your odds precisely. Though, these odds don’t apply to progressive jackpots.
Lottery
Again, there are different types of lotteries. If one is set up in such a way that you can choose six numbers from a possible forty-nine, then your chances of getting those six numbers drawn are close to 14 million!
If you buy one ticket each week, then your chances of winning get to about one lottery-win every 269,000 years. Doesn’t sound too promising, does it?
