Month: May, 2008

Payinq less than the true odds

16 May, 2008 (11:26) | Uncategorized | No comments

Another way the casino makes money is to pay out less than the true odds. Take roulette: With 38 numbers on the wheel, your odds of guessing the winning number are 37 to 1. So you bravely place a $100 bet on a single number and hit it. Congratulations! After you quit jumping up and […]

Identifying independent events

5 May, 2008 (11:23) | Uncategorized | No comments

Another important term to understand here is independent outcomes. Being independent has nothing to do with successfully ditching your loser boyfriend in the keno lounge. In gambling, independent refers to events (such as roulette spins or dice throws) that aren’t affected by any previous results. Craps and roulette casino games are great examples. The dice […]