In European Roulette, the probability of winning when betting on the black color is 18 (# of the black numbers) divided by 37 (# of all numbers, don't forget the zero). Let's take a closer look at payout ratios of some of the most popular games of chance. If the payout ratio is 95% then the house edge is 100% – 95% = 5%. The house edge is calculated as 100% minus payout ratio. The opposite of the payout ratio is the house edge. Payout ratio (also known as expected return, payout percentage or RTP – return to player) of a game of chance is the long-term statistical rate of total money won divided by the total money staked. Table of contentsĭon't feel like reading? Watch our video explaining key concepts of games of chance instead!

That's exactly what we'll focus on in this article. To increase the chances of 'beating the statistics', it's very important to know two basic characteristics of each game – payout ratio and variance. It's exactly this chance which helps lucky players win and beat the statistical advantage of the casino, although just in the short term. The outcome of your casino visit is then more determined by chance (or by your luck, if you want). In this case, the statistics don't have enough time to converge (show up). The main reason is that your visit to a casino consists only of several tens or hundreds of game rounds. In spite of long-term statistics working against you, it's quite common to come to a casino, play, win, and leave with your winnings. The statistics work in favor of the casino in the long-run. If these rules are applied over many, many rounds (sometimes even hundreds of thousands of times), casino owners can be quite certain that the sum of bets collected will exceed the total amount of wins payed out. The advantage of the casino is determined by the rules of each game and by the payout rules in the case of winning. This advantage is also known as a house edge. Otherwise, the owners of the casino would be losing money on them. Most of you probably know that these games are somehow set to give casinos a certain advantage in the long-run. The most famous of such games are slot machines, roulette, blackjack and baccarat, but there are many others. In other words, all games where a casino collects bets and pays out potential winnings. Principles described in this article can be applied to almost any game of chance in which a player plays against the house.

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