With all the stories around of huge casino winnings that change lives and make millionaires out of simple folk, one might wonder how casinos manage to remain afloat. The fact that casino operators generally get incredibly wealthy and the very look of gambling places that use bright neon lights, luxurious furniture and hire expensive staff including numerous security officers with costly equipment don’t answer the question, showing just the results of gambling business.
There are different types of games available on fun88 online casino. You can check out the features of all the games and make the right choice so that the winning percentage is high. It is an important thing to keep in mind for playing gambling games on the internet.
The cornerstones of casino success are the smart exploitation of human weaknesses and the understanding of objective laws of statistics. When a person is put in a situation of risk, which is basically every moment of playing a game of chance for hard-earned money, it is usually unwise to expect rational behavior or determined reasoning from an average gambler. Emotions take over and sound decisions are hard to come across.
Illogical thinking is usually facilitated at a casino by offering free drinks, covering all windows with non-transparent curtains and using very expensive-looking design of rooms and furniture. It makes the gambler dizzy, unable to discern day from night and greedy for all the riches he or she might win. On a rare occasion that a player wins a lot, a whole neighborhood will know about it, his or her face will even appear in a newspaper, promoting casinos and spreading the reputation of gambling as a great way to improve one’s financial situation. While in the majority of cases a player loses and keeps from telling anyone about it, to the point of forgetting about the losses altogether. An unlucky gambler would just say that he or she had a great time at a casino without mentioning any downsides, because after all nobody likes to look like a failure.
Casino operators, unlike the majority of gamblers, are closely familiar with basic laws of statistics. One of them, called the central limit theorem, says that while a single number drawn from a pool of random numbers with finite variance is really random, in the case of many such draws the independent identically distributed numbers will approach a normally distributed random variable. If it may sound too scientific, the explanation is rather simple. One person making one bet is either winning or losing. One person making a lot of bets is certainly loosing.
Many people making one bet are also losing. And many people making a lot of bets are making casino operators filthy rich. A casino has an edge over a player at any of its games. Each game has a different casino advantage and pays out accordingly to the chances of winning, though it would have been really foolish of the casino owners to install the tables or slots that don’t make profit, especially considering the cost of rent at the more prestigious best gambling sites.
The chances of winning at any game are carefully calculated by the owners. Well, not the owners to be precise, but their specially trained personnel. The higher are the chances of a player’s loss the bigger prize is promised in case of winning. The ultimate representation of house edge at a casino is the roulette game. While half of its numbers are red and the other half are black, a player never has an equal 50/50 opportunity of winning because there is always a zero. If you bet a $100 on red and you win, you will get an extra $100, but the chances of winning on a single-zero European roulette are close to 48% because of that clearly visible zero. Just like with the house edge, an average gambler just tries to ignore it, because after all 2.7% of house edge doesn’t look like a lot.
In the long run, however, a casino is taking $2.7 dollars out of every hundred you bet, no matter whether you lose or win at the moment. And you may be sure that casino operators will do everything to please you, because they want you to stay and wager as many times as possible to make the central limit theorem work to the greatest extent.
