If you have already dealt with the strategy of casino games, then you have probably already read the term "expected loss". However, this term can be misleading as it is not the amount you are likely to lose in a casino. Rather, it is about the mathematically calculated average loss. What is the difference?
Let's take a look at an example:
The house edge of the casino is the average profit the casino makes per player. As you already know, this value is different for all games. In roulette, the house edge is generally around 5.26%. This means that your "expected loss" when rounded up to € 10 equals € 0.53 (€ 10 x 5.26%).
However, you do not lose exactly 0.53 euro. If you bet on red or black, you either win 10 euro or you lose the entire bet. That means you can not expect to lose $ 0.53 on every bet. Instead, over time, this is the mathematical average every time you use 10 euro that you make over and over again.
You may already know that it is more and more likely that your actual loss will approach the expected loss as you play longer. So, if you play for 1,000 laps and bet 10 € on black for every spin, you will win an average of 475 laps while losing in 525 laps. You win about 950 Euros (475 profits plus your original bet) while you risk 1000 Euro. After the game you have lost 50 euro, which in turn corresponds to 5%. This is close to the predicted loss of 5.26%.
If you compare the risk at different games in the casino, the expected loss can be a very good tool. It depends on three important aspects:
* The value of your bets (the sum of bets per round)
* Speed of the game (how many rounds do you play per hour)
* Advantage of the house (average profit of the casino per player)
You can calculate these factors using the following formula to calculate the risk of the games you choose:
Bet x advantage of the house x number of hands x time spent playing = expected loss
So if you played blackjack for three hours based on the right strategy with bets of $ 10 an hour, the calculation is as follows:
10 Euro x 0.5% x 90 hands / hour x 3 hours = 3 Euro
Speed at the table
Of course, the speed of a table game in a casino also depends on the style and number of dealers, as well as the number of players. In online casinos, however, the speed of the game depends on the settings of the casino. However, you can customize them by changing the settings in your dashboard. This is an advantage because you can slow down games so you can play longer with your money. However, your patience may be over before that.
Speed of slots
When it comes to slot machines or slots, you have control over the speed of the game. This depends on how often you click the spin button. With regard to the profits at Slots you can look forward to much better odds in online casinos than in normal casinos. So, if you do not want to do a lot of research, it's much easier to know the odds and the speed of online casino games. For players, it is therefore quite advantageous to use slot machines on the Internet.