Play fixed odds roulette at Titan Bet Casino

When it comes to playing at online casinos it is always advisable to understand the odds and payout rates involved in the casino game you intend to play. Ideally, before placing a bet you should analyse your odds of winning at a particular game or betting option within the game, and decide whether or not it’s something you’re willing to risk or play.

If you’ve done any research into analysing betting odds, you’ve probably come across the term “fixed odd betting games“, a term which is often misunderstood by new players. Here we’ll look at what fixed odd betting and casino games really entail.

Fixed Odds Betting

As the name implies, fixed odd casino bets or casino games are games and wagering options that will always offer the same odds, no matter what. So, for example, a single bet in the game of Roulette will always offer 35 to 1 odds. While the majority of online casino games offer fixed odds, there are however games whose variations do not.

A prime example of a game with variable odds is that of blackjack. This may seem confusing as when you win the payout is always same (comparable to your betting value of course), however the odds are variable based on how skilfully you play the game. So it is important not to confuse payouts and odds, because odds can change but payouts generally stay the same.

Types of Fixed Odds Betting Systems

When it comes to fixed odds betting systems, there are four main types, namely:

• Fractional Odds: These are the games offered by bookmakers in the UK. As the name implies, the odds in these games is expressed as a fraction. So for example, your team is offered 5/1 or Five-to-One odds, which means that you’ll be able to win £100 on a £20 wager, and if you win, will end up with a total of £120. Games or betting options that offer fractional odds of 1:1 are referred to as “even money” games.
• Decimal Odds Systems: A casino or sportsbook that offers games with decimal values is said to offer decimal odds betting. These systems are generally more common in Europe, Canada, Australia and New Zealand and this system is therefore referred to as “European Odds”. Decimal Odds systems offer the same payouts as their Fractional odds counterparts, but just differ in terms of their definition. To illustrate by way of our example, if you place a £100 wager on a game that offers 1.20 odds you will get $120 upon winning the bet, making this type of fixed odds betting easy to understand.
• Moneyline Odds: These odds are generally offered by US based casinos and bookmakers, and as such are regularly referred to as American odds. They offer just two possible options on an outcome, either positive or negative, so these bets are made on the straight-up result of a game without taking the system of points spread into account.
• Even Odds: These refer to fixed odds expressed as either +100 or -100.

Popular Fixed Odds Casino Games

If you’re looking to play a fixed odds casino game, the following are popular options:

• American & European Roulette both offer fixed odds.
• Certain Craps bets such as the Pass/Come and Don’t Pass/Don’t Come options have fixed odds.
• Keno – these games has different odds values but they are all fixed.
• Bingo – This game always offers the same odds no matter where you play.

Play online casino games at Betway Casino

If you’ve done any research on casino game strategy, in all probability you will have come across the term “Expected Loss“. This term can be quite misleading as it’s not the amount that you should expect to lose at a casino, but rather it is the mathematical average loss. What’s the difference?

Let’s take a look by way of an example:

The casino’s house edge or advantage is the average profit that it makes per wager made. As you’ll already know, this figure differs from one game to the next. In the game of Roulette, the house edge is generally 5.26%. This means that your “expected loss” on a $10 bet is $10 x 5.26% which when rounding up gives you $0.53 on each bet you place.

That said though, you can’t lose precisely $0.53. If you wager on either red or black, you’ll either win an additional $10 or lose the entire amount. This means that you don’t really expect to lose $0.53 on every bet you make, but rather that over time this will be the mathematical average loss on every $10 wager if you played the game on an on-going basis.

As you may already be aware, the more you play, the more likely it is that your actual loss will approach the expected loss. So if you play 100 round of roulette at $10 a spin and bet on black every time, you will on average win 475 times and lose 525 times. So you’ll win around $950 (475 wins plus your original bet) when you risked $1000, which means that after the game you will have lost $50, which equates to 5% – pretty close to the projected expected loss of 5.26%.

When comparing the risk of various casino games, expected loss can be a great tool to use and will depend on three main aspects:

1. The value of your betting (the amount you wager per round)
2. Game play speed (how many rounds you play per hour)
3. The House Advantage (the average casino profit per wager)

You can then apply these factors within the following formula to determine the risk of the game/s you are playing:

Wager x House Advantage x Number of Hands x Time spent playing = Expected Loss

So if you’ve played blackjack according to sound basic strategy at $10 an hour for 3 hours, this would be calculated as follows:

$10 x 0.5% x 90 hands/hr x 3 hrs. = $3

Table Game Speed

Obviously, the speed of game play at a land based casino will be determined by the dealer’s style and the number of people playing. At online casinos, the rate of play is governed by the casino’s software settings, although these can be adapted to your preferences within the settings in your player dashboard, which is advantageous as you can slow games down which means that your money can last longer – although your patience may not.

Slots speed

When it comes to playing slots, you are in control and the speed of game play will depend on the rate at which you push the spin button. When it comes to returns on slots, online casino are way more forthcoming with their payout rates than their land based counterparts, so unless you’re willing to do some serious research on brick and mortar slot machines, figuring out the rate of play is easier at online casinos which is why playing popular slots online is the way to go for many players.