What Every Player Should Know About Casino Odds and Volatility

 It's important to understand chance and volatility if you want to get better at online casinos.  Being able to not know what will happen is what makes gambling fun, but understanding how the numbers work can help you make better bets and better handle your money.

 1. What Are Slot Machine Odds?
 In a casino, the odds tell you how much you can win and how likely it is that a certain event will happen.  To put it simply:

 When odds are high, the payouts are big, but the chance of winning is low.

 It's more likely to win when the odds are low, but the payouts are smaller.

 In European Roulette, the chances of betting on a single number are 1 in 37, which is about 2.7%. On the other hand, the odds of betting on red or black are almost 50%.

 2. House Edge: An advantage for the casino
 The house edge is the edge that the casino already has over the players.  It is shown as a percentage:

 With perfect planning, blackjack pays out ~0.5%.

 2.7% for European Roulette

 Slots: Usually between 4% and 10% or more

 This doesn't mean you'll lose right away, but the house edge makes sure the casino stays profitable over time.  If you play games with a smaller house edge, you have a better chance of winning.

 3. What Does Volatility (Variance) Mean?
 How often and how much a game pays out is called its volatility.

 Low Volatility: Wins happen often but are small (many basic slots).

 High volatility slots have payouts that are rare but could be very big, like giant jackpots or video slots with lots of bonuses.

 Knowing about volatility can help you choose games where the level of risk is right for you.  Want to play all the time?  Pick games with low variance.  Want to win a lot of money?  Pick slots with a lot of ups and downs.

 4. RTP stands for "return to player."
 RTP is the amount of money that a game is supposed to pay back to players over time.  As an example, a slot machine with a 96% RTP gives back $96 for every $100 bet, on average.  RTP doesn't promise results in a single exercise, but it does show how well you should do over many rounds.

 If you are playing with bonus money or a small sum, look for games with an RTP above 95%.

 5. What You Should Do With This Data
 How to use what you've learnt:

 Picking Games: Pick games with good chances and the right amount of risk.

 Plan your bankroll: If you want to play for longer on a smaller budget, play games with low fluctuation.

 If you play table games, like craps or baccarat, you should learn the best bets, like pass line or manager.

 Bonus Hunting: To meet wagering requirements faster, focus on games with a high RTP and low variance.

 6. Don't let myths fool you.
 A lot of players believe false things like "the machine is due for a win" or "hot streaks mean future success."  There are random number generators (RNGs) that control each spin, card, or dice roll.