Games of chance like slots, roulette, blackjack, and baccarat are designed to give casinos a statistical edge, known as the house edge. While the house edge ensures casinos profit over time, players can still win in the short term due to chance. To improve your chances, understanding two key concepts: payout ratio (RTP) and variance, is crucial.
Casino Game Payout Ratio (RTP)
The payout ratio, or Return to Player (RTP), represents the percentage of total money bet that a game returns to players over the long term. For example:
Roulette (European): Betting on black gives an RTP of 97.3%, meaning a house edge of 2.7%.
Blackjack: Typically has an RTP around 99.5% when using basic strategy.
Slot Machines: RTP varies from 92% to 99%.
A higher RTP means the game returns more money to players over time.
Variance (Volatility)
Variance measures how much your bankroll might fluctuate during play:
Low Variance: Frequent small wins. Example: Betting on black in roulette.
High Variance: Rare big wins. Example: Betting on a single number in roulette.
How to Use This Knowledge
High Variance for Big Wins: Games with high variance give you a chance to win large amounts but are less consistent.
Small Bets for Longer Play: To maximize playtime, place smaller bets on low-variance games.
Example Betting System
Consider a player with $100 who wants to leave with $500:
High Bet on Number: Bet $10 on a single number in roulette. With a high variance, there's a better chance of reaching the goal with fewer bets.
Low Bet on Color: Bet $2 on black. Lower variance means more rounds but a much lower chance of hitting the target. The recommended roulette betting system A good betting system is therefore a tradeoff between odds of a satisfactory win and its size, and duration of your stay in a casino. Which betting system should you choose if you wish to play for a reasonable amount of time while having a good chance of winning?
The following table shows the results of our simulations. The variables are the size of a single bet and bet type (color/number). Each player begins with $100 and leaves the casino with $500 or more (or after losing everything). The table contains the portion of players which managed to win, the average size of their win, the calculated RTP of such a betting system, and the average number of rounds played.
Bet size | $0.5 | $1 | $2 | $5 |
Number | 9,55% x $505 RTP 42,76% 3832 rounds | 13,9% x $511 RTP 66,35% 1083 rounds | 16,15% x $522 RTP 81,27% 292 rounds | 16,7% x $555 RTP 91,21% 52 rounds |
Color | 0% | 0% | 0,0015% x $500 | 0,88% x $500 |
RTP 0% | RTP 0% | RTP 0,006% | RTP 3,55% | |
7399 rounds | 3698 rounds | 1850 rounds | 706 rounds |
Bet size | $10 | $20 | $50 | $100 |
Number | 14,8% x $648 RTP 95,19% 15,9 rounds | 12,8% x $760 RTP 96,88% 4,73 rounds | 5,33% x $1 825 RTP 97,12% 1,97 rounds | 2,71% x $3 600 RTP 97,40% 1 round |
Color | 5,13% x $500 RTP 21,62% 274 rounds | 10,85% x $500 RTP 48,68% 84 rounds | 15,94% x $500 RTP 75,85% 15 rounds | 17,9% x $500 RTP 87,21% 3 rounds |
As you can see, a much higher variance of bets on a number can easily beat bets on color which are significantly larger in size. In addition, your stay in the casino will take much longer. Also note that when betting $2 on color, your chances to get to $500 are close to 0. None of the one million attempts were successful in this case.
Conclusion
For fun and better odds, play high variance games with small bets. This strategy can help you stretch your bankroll while aiming for big wins.
For more detailed strategies and tips, Remember Favorite our page PPXAgent.
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