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The house edge, or vigorish, is defined as the casino profit expressed as a percentage of the player's original bet. (In games such as or , the final bet may be several times the original bet, if the player doubles and splits.)
Traditionally, many casinos were reluctant to disclose the house edge of their slot games, making it difficult for players to assess the true pay out potential. However, this practice is slowly changing, as more online casinos are beginning to provide this information, and independent research, such as that conducted by , has also shed light on these figures. In the UK, the Gambling Commission (GC) now requires that all RTP (Return to Player) values be clearly displayed for both online and land-based casino games. This regulation ensures greater transparency, giving players the information they need to make more informed choices about the games they play.
The luck factor in a casino game is quantified using (SD). The standard deviation of a simple game like roulette can be calculated using the . In the binomial distribution, SD = , where = number of rounds played, = probability of winning, and = probability of losing. The binomial distribution assumes a result of 1 unit for a win, and 0 units for a loss, rather than −1 units for a loss, which doubles the range of possible outcomes. Furthermore, if we flat bet at 10 units per round instead of 1 unit, the range of possible outcomes increases 10 fold.
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The players' disadvantage is a result of the casino not paying winning wagers according to the game's "true odds", which are the payouts that would be expected considering the odds of a wager either winning or losing. For example, if a game is played by wagering on the number that would result from the roll of one die, the true odds would be 6 times the amount wagered since there is a 1 in 6 chance of any single number appearing, assuming that the player gets the original amount wagered back. However, the casino may only pay 4 times the amount wagered for a winning wager.
The standard deviation for is the lowest out of all common casino games. Many casino games, particularly slot machines, have extremely high standard deviations. The bigger size of the potential payouts, the more the standard deviation may increase.
It is important for a casino to know both the house edge and variance for all of their games. The house edge tells them what kind of profit they will make as a percentage of turnover, and the variance tells them how much they need in the way of cash reserves. The mathematicians and computer programmers that do this kind of work are called and gaming analysts. Casinos do not have in-house expertise in this field, so they outsource their requirements to experts in the gaming analysis field.
Casino games typically provide a predictable long-term advantage to the casino, or "house", while offering the players the possibility of a short-term gain that in some cases can be large. Some casino games have a skill element, where the players' decisions have an impact on the results. Players possessing sufficient skills to eliminate the inherent long-term disadvantage (the or ) in a casino game are referred to as .
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Table games are popularly played in and involve some form of , but they are also played privately under varying house rules. The term has significance in that some jurisdictions permit casinos to have only slots and no table games. In some states, this law has resulted in casinos employing electronic table games, such as , , and .
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As a player you have the option to play for free or to bet real money on your game at online casinos. Free games offer unlimited play, and are great for building up your skills and trying out new games. Real money play however unlocks cash winnings, game variants and bonuses available. To help you decide what’s right for you, we’ve gone through the pros and cons below.
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In the , 'table game' is the term used for such as , , , and that are played against the casino and operated by one or more live , as opposed to those played on a mechanical device like a or against other players instead of the casino, such as standard .
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We believe that the best casino games are the ones that you love to play the most. For many gamblers this includes slots, which are by far the most popular casino game, roulette, which is the most played table game, and card games such as blackjacks and its variants.
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Casino games usually follow the same rules as those played at land-based casinos. However, most games, except for ones, are software driven. The software program, which includes a random number generator (RNG) is designed to ensure fair results. The RNG determines the outcome of each round in an unbiased manner.
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Some casino games combine multiple of the above aspects; for example, is a table game conducted by a dealer, that involves random numbers. Casinos may also offer other types of gaming, such as hosting games or tournaments where players compete against each other.