Casino Games
|
In casino games players place bets (in form of chips) on possible outcomes
of a certain game of chance, winners are therefore randomly determined. Casino
games can be divided into several groups – table games (which are played at a
table and in traditional casinos, manned by live dealers); electronic gaming
machines, also known as slots; and random number ticket games – such as Keno,
Bingo, etc. |
Black Jack |
Roulette |
||
 |
 |
|||
Craps |
Caribbean Stud Poker |
Let it Ride |
Video Poker |
|
 |
 |
 |
 |
|
Slot Machines |
Baccarat |
Sic Bo |
Keno |
|
 |
 |
 |
 |
|
Win chance or “what are the odds”
Casino games generally provide a predictable number of combinations. Due to the payout structure, the “house” or the casino usually has the advantage. For example in a simple game as “Heads or Tails” casinos pay out a little less than 100% the original bet for a correct prediction. Over a large sample of coin tosses the chances for heads or tails are equal but the payout structure usually grants the house with an advantage of 3 to 5 percent. Depending on the game, this percentage can vary between 0.3% and 25%. However, the very nature of games of chance presents gamblers with the possibility of a large short-term payout. Can we make an accurate guess on heads or tails 5 times in a row? Can we guess the exact number while playing roulette, winning 35 times our original bet? Or maybe we can hit the jackpot, winning millions with a mere $10 bet? Yes, this is by any means possible and it lies within the understanding of probability – even a highly unlikely event (like winning the jackpot) is bound to happen over the course of a large sample of events. But it is not only the large short-term “hit” we are usually interested in. Casino games give us the opportunity to adapt and use betting.