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Online Casino Guide: Understanding Probability, Odds and House Edges

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In articles about online gaming, certain terms are repeated often. Some of them are probability, house edges, odds and payout ratios. Online casino players do know what these terms imply. For instance, if the game has a higher edge, then they can probably lose money in that game. However, not every player knows the deep-exact significance of these terms. In online casinos, one can get without having to get down to the nitty-gritty, but it wouldn’t harm to know the details right?

Probability

It is the likelihood of an event occurring. In the European Roulette wheel, there are 37 numbers starting from 0, and each one of them is likely to be called equally. That means the probability of the 13th number being called is 1 out of 37...

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