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How to calculate your chance of winning

Calculating chance | Roulette Example | Bridge Example | Events & Outcomes

We will try to give you a short explanation of probabilities and how to calculate your chances of winning in an online casino.

What you need to consider:
1. Define the game and the particular bet you want to place
2. Make a list of all the possible outcomes of that game
3. Give probabilities to these possible outcomes
4. Determine the collection of simple events contained in the event of interest
5. Add up the simple event probabilities to get your 'realistic' chance of winning that particular bet.

Graphically; think of Probability of a line, from 0 to 100. Where the 0 = 'no', the event wil not happen, and 100 = 'yes', the event will happen.
no 0_____________________100 yes

Now there are different kind of events. And I presume that you are a gambler, so we are more interested in the chances of gambling. I.e. your realistic outlook on your winnings... Examples of gambling are Roulette, Blackjack, Poker, Craps, and soforth.

With Roulette there are many possible events. But lets keep it simple, say we are only betting black or red. That has a chance of almost 50%. The possible outcomes are Black, Red, or Green, as the number zero is green.

But we can at least try and give you an idea of what luck is, and whether there actually is such a thing called luck, or that it is all down to the laws of probability.

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