General Mathmatics of gambling

[June]

I was reading an article about the math behind gambling. Obviously, if you can't do the math, then you have no business gambling. If you don't understand the numbers behind any particular bet, then how can you possibly calculate to hit or not?

 

[MonkeyGirl]

I guess it depends on whether you're a professional, or just playing for fun. For me, it's just a fun hobby, so I don't pretend to even work out the facts and the figures of the games, I just go with my gut!

 

[steve]

All casino games and forms of gambling are risk vs reward. Or put another way, odds vs payout.

For roulette, a beginner will think betting most numbers gives them a better chance of winning (profiting).

An intermediate player will consider the odds vs payouts of each game.

A professional player will identify the weaknesses in each game and casino, to find "better than normal" odds. For example they might find be a blackjack player, but find a heavily biased roulette wheel. Or a roulette player might find weaknesses in baccarat for a particular casino.