The Element of Chance in Online Casino Games
By: CasinoAdvisor.com, Wednesday October 8th 2008
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One broad definition of online casino games could be those games that involve an element of chance and are played between the players and the house, and not among players themselves. Some games involve both skill and chance like blackjack, Caribbean Stud poker and video poker, whereas others involve only chance like slots, roulette and keno.
All casino games are characterized by an average payout ratio. The average pay out ratio is defined as the amount of money that the online casino pays out on an average per dollar wagered expressed as a percentage. The average payout ratio is governed by the software developed based on the rules of the game. Once the software is frozen then the average payout ratio is independent of any decision made by the player. In online casino games that involve some skill the average payout ratio assumes that the player makes the optimal decisions. In these games the player can increase his chances of winning up to the average payout ratio by learning how to play optimally. However in those online casino games that depend on chance alone, there is nothing that the player can do to improve his chances of winning.
Yet there are many online players who believe that they can increase their chances of winning in games like slots, roulette and keno. Some invoke luck using extraneous lucky charms such carrying a "lucky" coin, or wearing a lucky shirt, or rubbing a rabbit foot on the "bet max" button on a slot machine or playing at certain times of the day. The fact of the matter is that the random number generator that determines the outcome of the game is incapable of recognizing any of these activities.
Tampering with the betting pattern may appear more erudite but is equally fruitless. For example if a player bets more coins in slots then he will win more if he hits a winning combination but will also lose more if he does not hit a winning combination. The average payout ratio, which is based on per dollar wagered, remains unchanged. Some slots players keep changing the paylines they bet on. They do not stand to gain anything by doing so. Each payline has an equal chance of hitting a winning combination. Some roulette players keep track of the red and black numbers called. If in the past the number of reds called is greater they believe that the chance of the next number being black is greater because in the long run both should be equally called. Neither the roulette wheel nor the random number generator that simulates the roulette wheel remembers the earlier numbers called. Each spin is independent and each time both red and black have equal probability of winning.
Acceptance of the fact that games of chance are just that will lead to less frustration and more enjoyment. A useful motto is to play to have a good time with winning as a bonus.
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