The mechanics of gambling might seem difficult to get your head around. However, it’s so important that you have a grasp on it.
Understanding the mechanics of gambling helps you be clear about the risks you face when you’re placing a bet. It tells you just how much control you have over the bet, and how much control the sportsbook, poker room or casino has.
We’re not going to tell you everything you need to know here. Instead, we’re going to give you a brief overview so you can start learning more about your favourite games on your own terms.
Mechanics of gambling on sports
First, let’s tackle the basics. When you’re looking at a sportsbook, you can read the odds as something like 2/1. That means for every Ā£1 you bet, you’ll get Ā£2 back if your bet comes in. Meanwhile, in the US, they’re expressed as decimals. So for the same bet, you’ll see 2:00.
Now let’s talk about how sportsbooks make money. They design it so the more likely outcome gives smaller payouts. That way, they can hedge their bets and try to ensure they make a profit. But there’s no such thing as a sure bet in sports. Even if you base your bets meticulously on what happened in the past, there’s no way of knowing what the future outcome will be.
Mechanics of strategy-based card games
There are some card games that are possible to play with a strategy that can minimize losses. For example, knowing the basic strategy of blackjack can stop you making foolish mistakes at the table. However, the game, odds and payouts are still set out in a way that statistically you will make at least a small loss over the long term.
Poker is another game where it pays to know what you’re doing. The more you learn about poker and perfect your skill, the less likely you are to lose more often. In this game, you’re playing against other opponents. The card room makes their money by charging players rake on every pot in a cash game or a fee added on to your buy-in during a tournament.
Mechanics of gambling on strategy-free games
Despite what your mate down the pub might say, there are some games that you’ll play that have absolutely no strategy to them whatsoever. No matter what you do or how you play, the outcome will be the same. You have no control over the mechanics of gambling of these games.
They include things like slots, roulette, bingo and scratch cards. Online, they are governed by random number generators, which guarantee there is no pattern as to what outcome comes up. These games also have a return to player percentage, which means the amount of money customers can expect to get back over the long term versus what they put in.
One slight difference is in roulette, where the odds of each move are clearly set out. For your information, European roulette odds very slightly favour the player versus American roulette. However, both games will see long-term losses over the average player’s playing career.
Getting help for problem gambling
No matter how much you think you know about gambling, it’s still possible to develop an unhealthy relationship with it. If you think you’re at risk of developing a gambling problem or you know in your heart you already have one, you need to get help to stop.
One great place to go to in the UK is the Be Gamble Aware website, where you can find plenty of resources and information. You can also call them directly on 0808 8020 133. But wherever you are in the world, there are gambling help organisations that can assist you quitting for good. Take a look at this list of international gambling help organisations to find one in your area.
Here are some responsible gambling articles you might find interesting:
- Make yourself aware of these common signs of addiction
- Are we doing enough to stop kids from gambling?
- Taking a little break from gambling: your questions answered
- How self-exclusion works
- Calculating your gaming budget
Tags: betting tips casino online poker poker responsible gambling responsible gaming sport sports sports betting
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