5 Major Mistakes Made by Casino Players
When you are new to playing casino games and reviewing the top online casinos, Casinopedia
provides helpful guides and a little extra knowledge can help you go a long way. Although many casino games are simply matters of chance, there are things players can do to make the odds more favourable - it`s just that many fail to do even the most basic research. Casino games are really all about the math - and while that`s not immediately exciting, failing understand the cold hard rules of the game can lead to big losses and big disappointments.
Let`s run through some of the most common mistakes you`ll see from casino players - even experienced ones.
1. Not knowing the house edge
Casinos were not built on winners, as the saying goes. Roulette, blackjack, baccarat and slot games are all tipped in favour of the house - a figure known as the house edge. That house edge can be as little as 1%. But that 1% keeps the lights on, it pays the staff, it helps invest in new casinos and ultimately build global business empires.
For players looking to beat the odds
, keeping the house edge as low as possible is vital if they want to stand the best chance of making any money. So games like baccarat, craps and blackjack can have house edges as low as 1%, while some slots can have house edges more like 15%. You pay your money, you take your choice, but most people would prefer not to burn through their bankroll any quicker than they have to.
2. Gambler`s fallacy
Gamblers get suckered in to all sorts of strange, nonsensical superstitions and beliefs. Anything but contemplate actual math, is perhaps their thinking. But most people can forgive the gambler`s fallacy, as, at first glance, it seems perfectly sensible. It is best described via a coin toss game where the odds of it landing on heads or tails are equal, or 50/50.
If, for example the coin had landed on tails ten times in a row, does that mean it is more likely to land on heads on the eleventh toss? No - the odds are still 50/50 on that next toss. The coin doesn`t `remember` the previous outcomes. Yet many gamblers believe it would. And so on the roulette wheel, if the outcome of the last ten spins has been `black`, many would then bet on red for the next spin. In fact, it is just as likely to land on black again. Gambler`s fallacy can keep players betting longer than they intended to, because they assume that after a run of bad luck the next bet must be in their favour. Unfortunately, math just doesn`t work like that.
3. Random Number Generators
Video slot machines rely on random number generators in order to deliver pure chance outcomes. These are designed by humans, but are tested across millions of spins to make sure they are paying out at the billed rate. They are tested by licensing authorities to make sure they are sound - so that if a slot says it pays out 95.2%, then it definitely pays out at a rate of 95.2%.But that`s still not good enough for some players. People complain that they are rigged, tampered with by the casino, can be made to perform badly at the `flick of a switch` by the casino.
While there may be some isolated cases of foul play in casinos, often it is just the player`s poor grasp of how random numbers operate that leads to these conspiracy theories. Similarly, a player may believe that a slot is `playing hot` and end up stuffing in more money than the slot actually warrants - and end up losing their bankroll.
4. Choosing the right variations of games
Not every roulette wheel is born equal. Many casino experts pull their hair out when they see people crowded round the roulette tables which have three `zero` tiles - sometimes known as triple zero roulette. Why? Because there are roulette wheels out there that have just one zero tile. That makes a big difference. The house edge on a triple zero roulette wheel is about 7.7%. On a single zero roulette wheel it is a much more palatable 2.7%.Those crowds huddled round the triple zero wheel were throwing a good chunk of their bankroll straight to the house coffers.
Blackjack is another game where picking the right version can make a big difference to the player`s return. Blackjack paying 6 to 5 on a natural blackjack gives the casino around a 1.4% increase on the house edge compared to blackjack tables that pay 3 to 2.
Volatility is sometimes known as variance and links to slot games. Essentially it is a measure of how frequently a slot pays out
, and how big those payouts are. So highly volatile slots might not pay out for a long time, but when the reels land in the player`s favour, the rewards are likely to be big. That makes for a rollercoaster ride of an experience for players.
Similarly low volatility slots should pay out much more frequently, but the trade-off is smaller wins. It all depends on what players want from a slot - but a little bit of knowledge on the volatility will stop players from burning through their bankroll on a game that`s just not for them. It is worth nothing that this is not the same as the return to player figure, which is simply the average amount of a wager that will be paid out to the player, which the volatility does not affect.