If you have dealt with the strategy of casino play, then you have read completely determined once the concept of “expected loss”. This term can however be misleading, since it is the amount that you are in a casino likely to lose. Rather, it is the mathematically calculated average loss. What is the difference?
Let us take a look at an example:
The house advantage of the casino’s average profit the Casino made per player. As you already know, this value is with all Games. In Roulette, the house advantage is about, in General, in 5,26%. This means that your “expected loss” with a bet of 10 euros, rounded to € 0.53 (10 Euro x 5.26%).
However, you will not lose exactly € 0.53. If you bet on Red or Black, you win either 10 Euro or you lose the entire bet. This means that you can’t expect to lose every bet € 0.53. Instead, in the course of time, the mathematical average for each bet of 10 Euro that you make again and again.
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Perhaps you already know that it is always more likely is that your actual loss will approach the expected loss, if you to play longer. If you play 1,000 rounds, and in each spin a 10 Euro bet on Black, you win on average in 475 rounds while you lose in 525 rounds. You gain about 950 Euro (475 winnings plus your original bet), while you are risking 1000 Euro. After the game, you have lost 50 euros, which in turn corresponds to 5%. This is close to the predicted loss of 5.26%.
If you compare the risk in different Games in the Casino, the expected loss is a very good tool. It depends on three important aspects:
- The value of your bets (the sum of the bets per round)
- Speed of the game (how many rounds you play per hour)
- House edge (average profit of the casino per player)
You can calculate these factors using the following formula to calculate the risk of the games, for the you decide:
Use x house edge x number of hands x time spent Playing = expected loss
So if you have played Blackjack for three hours on the basis of the right strategy with bets of 10 Euro per hour, the calculation is as follows:
10 Euro x 0.5% x 90 hands/hour x 3 hours = 3 Euro
Speed at the table
Of course, the speed of a game depends on the table in a Casino from the style and the number of the Dealer, just as the number of players. In Online Casinos the speed of the game is, however, of the settings of the Casinos. However, you can customize it to your preferences by changing the settings in your Dashboard. This is an advantage, since you can make games slower, so you can play with your money longer. Your patience, however, can be to the end.
Speed of Slots
When it comes to slot machines or Slots, you have the control over the speed of the game. This depends on how often you click the Spin Button. With views of the winnings at Slots are Online Casinos available at considerably better odds than in land-based Casinos. If you don’t want to investigate necessarily long, it is much easier to learn the odds and the speed of the games in Online Casinos. For players, it is therefore quite advantageous to use the slot machines in the Internet.