Online Gambling Guides - Our Expert Tips and Advice
Understanding Maths in Gambling
If the thought of complicated maths equations brings on an instant migraine, don't worry we will lay out what you should know in an easy-to-understand manner.
All casino games are configured to give the casino an advantage, referred to as the 'house edge'. The house edge is the percentage of wagered money the casino can expect to make in the long run. Knowing how this impacts you will go a long way in managing your expectations.
The main calculations you need to understand are RTP, Wagering Requirements, Volatility,
Return to Player (RTP)
Casino games have a long-term theoretical return-to-player (RTP) value, which means that, over time, players will tend to win back a certain percentage of their original investment. However, this does not mean that players will necessarily win back their entire investment in any one session. The RTP is a statistical value, and individual game rounds can vary greatly. Casinos can rely on statistics to be profitable in the long term. While individual players may get lucky and win in the short term, the overall results will eventually catch up with the expected RTP.
For example, if a particular game has an RTP of 94.7%, statistically, over time, you could expect a 94.7% return. On a $100 wager, that would equate to $94.70, while the casino could expect $5.30. Bare in mind these are statistical averages and not an indication of what you can win on any particular bet.
Wagering Requirements
Wagering requirements are incredibly important before deciding on a casino bonus. This will be the total amount you need to wager before being able to claim any winnings from bonus funds. This has briefly been discussed above, but one thing to look out for is whether the wagering requirements apply to the bonus funds only or the deposit and bonus funds. This makes an enormous difference in the total that needs to be wagered. Don't get caught by surprise when you try cashout - make sure you understand the requirements. Quite a lot of casino complaints online are related to this.
Volatility
One of the most important factors is volatility (also known as variance), which relates to how big individual wins are and how often they occur.
Fact-checked by Julia Attard
Senior Author & Online Casino Expert