When playing at a casino, there are two important things you need to consider: how much time do I have and how much can I afford to lose?
These questions determine the game you’re going to play and follow. But let’s say that you want to play online for real money. Where can you find an online casino with the lowest winning odds?
What is the Winning Odds – and Why Does It Matter in Online Casinos?
First of all, what are the winning odds? You can find such a definition in almost any dictionary. In fact, “odds” mean ‘the probability that an event will happen’.
You shouldn’t confuse the winning odds with a payback percentage. Payback percentage is simply the share of your bet that goes back to you. For example, if a slot machine has 100% payback and gives $1 per spin on average but you bet $5, then you get $4 back immediately. Thus, to calculate the payback percentage you should divide the money received by the money spent.
The winning odds is a term that means “the probability of getting more than you invested”. For example, to calculate the winning odds you should multiply your bet amount with winnings and then divide it by your bet amount. Let’s discuss this topic using an example:
Let’s say that you have deposited $100 into an online gambling singapore site account and made a bet of $10. Your winning odds are calculated by dividing 10000% (10×10=100) by 100% (your initial bet), thus, 10000/100 equals 100. That means that there is a possibility for you to win 10 times more than you had initially invested.
The winning odds of a casino game can be calculated in the same way: to determine the winning odds, you should divide your winnings by your bet amount. If we go back to our initial example, let’s say that you’ve made 5 bets and won $5 after each game.
The question now is: “how many of such bets can I make before breaking even?”
The answer to this question doesn’t depend on the amount of your initial bet. It depends only on winning odds and payback percentage. As we calculated $100, which in our example would be 100%, the casino gives you an opportunity to break even if you win 111% of your initial bet.
Because the payback percentage is 100%, you can break even after betting in total 110% of your initial account balance. To calculate it, you should divide your initial amount by 2 and subtract 1 from this number. In our case, $100 divided by 2 equals $50, minus 1 equals $49. That means that you can make 5 more bets until the balance of your account will be equal to $0.
What’s the difference between winning odds and payback percentage?
In one word: the amount of your bet. While paying attention to both, you should be aware that some online gambling singapore casino games have lower or higher winning odds than other games but the same payback percentage.
Which Online Casino Games Have the Worst Winning Odds?
The online casino games where you can expect the lowest winning odds, and thus could be the best to play for seasoned gamblers looking for some new thrills and excitement are those that have high-variance. That means there’s a big risk of ending up with no winnings at all, but also an equally large chance of winning multiple times over.
Video Poker
Video poker has over 42 different variations and offers players one of the lowest winning odds out of all the casino games available at online casinos. The main reason for this is because most video poker machines are designed to house slots within them which will also provide players with one of the lowest winning percentages, thus creating a double negative effect that can cost players a lot of money over time.
Craps
Craps players have about a 5% chance of winning on any given roll. This percentage will actually go down if players opt to bet big money while playing which is what most online craps players tend to do since they don’t have anything left to lose anyway.
Keno
The house edge on keno ranges from 15-30%. Although the odds of winning may not seem that bad at first, the fact remains that most online casinos offer a maximum payout limit on keno games which makes them extremely unprofitable for players to play over time.
Roulette
Even though roulette has better statistics than blackjack when it comes to winning percentages, its main drawback is that the game limits players to only betting on one number which means even the best roulette strategies won’t make you rich at an online casino.
Sic Bo
While this game isn’t as popular as some of the others mentioned above, it does offer players some of the worst odds in all of online gambling. Players will have a 99.54% chance of losing money over time if they play this game at any online casino that offers it for real-money betting.
Takeaway
Online casinos are always looking for ways to keep players coming back for more. One of the best ways of doing that is by offering them games where they have the worst odds, but it doesn’t seem like it because they can win big. This means that you will see more games on offer than ever before, and in a greater number of variations.
These games might sound great, but you should be really careful when thinking about playing them because they could have horrendous odds. It pays to check out the games first though and see how the odds stack up against each other so that you don’t waste too much time with games where there are no edges at all.
