Introduction to Casino Odds

Many players enjoy visiting a land-based casino for the all-round excitement and entertainment they provide their visitors, but when it comes to online casinos where the focus is solely on the casino games the visitors tend to be players who are interested in playing their favorite casino games and winning money doing so.

However many of those who visit land-based casino and online casinos for the purpose of playing casino games do not fully understand casino odds therefore putting themselves at a disadvantaged position from the get go.

Fully understanding casino odds ensures players take calculated risks and make the best decisions when choosing which games to play and what type of bets to place.

As an introduction to casino odds we first must ask what does the term 'casino odds' mean? It actually has two meanings: The first is the probability a player has of winning or losing a bet. In layman's terms it is the likelihood of an event to happen.

Odds in this context have many usages in addition to the likelihood of winning playing casino games. It also refers to betting on sporting events on the likelihood of a football team winning a game or a tennis player winning a match.

The second aspect the term 'odds' refers to is the amount of winnings a player will receive in respect of the bet they have made in case they win that bet. For example a player making a bet of $1 on a wager offering the odds of 15 to 1 will win $15 if their wager is successful.

Another example why knowing the odds of different bets is so important is if we take games such as European Roulette, a game that offers many different bets during a single round of playing, then knowing the odds of each bet will help us make a wise choice when deciding on what to wager and how to spread the risk.

Bets on Red/Black or Odd/Even that pay 1 to 1 might have less of an appeal than a single number bet that offers a payout of 35 to 1, but the Even Money bets have a greater chance of being successful bets and therefore it is more advised to opt for them.