Knowing the Odds When Gambling Online
When playing on any casino game it’s always a good idea to know about the odds before placing a wager on any of the possible outcomes. For example you wouldn’t keep putting your money on the outsider at a horse racing event because you would lose your money in no time at all. The same rule applies to online casinos. You wouldn’t keep putting your money on outcomes that are less likely to occur, such as a Straight Up Bet in roulette. Only occasional bets like this should be placed, if at all.
A Straight Up Bet in roulette is when you place your money on just one individual number appearing. There are 36 numbers in most roulette varieties, so you have a 1 in 36 chance of this number coming out. If you have a AU$50 bankroll and you keep placing AU$5.00 bets on the number ‘8’ coming out, the chances are that you will loss you’re money pretty fast. Try to look for the bets with more realistic outcomes and better odds.
It doesn’t matter which casino you are playing at because the odds should always be the same. However, you may notice that the odds can slightly vary, so always remember to check out these odds before placing a bet. What you might get paid in one online casino for a certain outcome may not be the same that you would be paid in another online casino, but the overall odds shouldn’t vary too much.
If you place a AU$5.00 bet with 1:1 odds and if you win, you will receive a total of AU$10.00 (your initial AU$5.00 stake, plus AU$5.00 winnings). If you are only placing small amounts of cash with 1:1 odds, don’t expect to win much. This is why professional gamblers tend to place much larger bets with these odds and these ‘sensible odds’ will see that you double up every time you win.
All of today’s online casino games have a useful rules & odds section and when playing certain table & card games the odds will be displayed on the table for you. Studying and understanding these odds is vital for maintaining your bankroll for as long as possible and for hopefully being able to turn this cash into a profit. We recommend referring to the odds as often as possible, or at least until you have managed to store them in your brain.
It would also be a good idea to practice in the free play mode when attempting to learn the odds that are associated to the different games, before playing in the real money mode. There’s no point risking all of your money if you don’t really understand the odds, so take a few minutes to familiarise yourself with the odds each time you play a new game for the first time.