How to Calculate Odds in Betting

Many people enjoy the thrill of winning big on online casinos. Unfortunately, this can also lead to disappointment when the games are fixed or random number generators are misrepresented as being unbiased and fair. In some instances, people have lost large sums of money as a result of being fooled by fake odds or bad luck. This article will explain how to spot and avoid these trap doors that can steal your hard earned casino winnings.

Betting Exchanges & Fixed Betting

Many people are unaware of the fact that not all online casinos are created equal. Some sites will try to trick you into placing a bet that is much more favorable to them than what you are led to believe by looking at the odds on their website. For example, if you are shown a 50/50 chance of winning when you actually have a 33/67 shot at winning, then the casino has won because they have convinced you to place a bet on a particular outcome when your odds were actually in your favor. This practice is known as fixed betting or betting exchange because the casino is actually placing a bet with another casino that has a much better chance of winning. In other words, they are fixing the game for the player.

Odds & Real vs. Apparent Odds

There are many instances where a bookmaker or online casino will try to trick you into placing a bet that is pre-determined by the site. Sometimes this will be done by employing some sort of mathematical sorcery that will produce unrealistic odds that you as a layperson will not easily understand. For instance, a fantasy poker league may use a RNG to assign players their hands prior to each session. This eliminates any attempt by the player to manipulate the results of the game. However, the poker site does not want to advertise the fact that their hands have already been dealt before the next seat is available, so they may show you a seemingly random assortment of cards that is actually arranged to look like your chosen cards were dealt. In these situations, it is important to realize that the apparent or apparent odds that the casino advertises to you are not necessarily what they are calculating and, in some instances, they may display fake or exaggerated odds to hoodwink you.

Bad Beats & When to Walk Away

There will always be losers, and as the wise man said, “life is full of twists”. When you encounter a bookmaker or casino that advertises bad beats or has a terrible track record, then it usually means that they are up to no good. Even if you do not mind losing sometimes, it is important to realize that these are the kinds of places that you should avoid like the plague. If you are not sure whether or not to enter a wager with these sites, then you should probably walk away. At the very least, be extremely careful about what data you put in when you fill out your profile on these types of sites so that you do not give them the advantage of knowing important information about you. In the worst case scenario, they could use this information to steal your identity or to commit fraud. For this reason, it is always best to play at trustworthy casinos where you know that your personal data will be safe and where you do not have to worry about being scammed by a third party. The worst that can happen at a reputable casino is that you lose a bet. In the grand scheme of things, this is not all that bad!

In the end, everyone has to lose sometimes, but when you lose money at a casino, it is always due to poor gameplay or sloppy operation. When these things happen, it is because someone has cheated or manipulated the system in some way. As long as you maintain a healthy dose of skepticism and do not believe everything that you are told, then you will be able to avoid most of the hassles that come with online gaming. At the very least, you will know that you are dealing with a reputable organization that is looking out for your best interests and where your personal data will be safe.