Figuring out a lot of punting vernacular is frequently difficult. Expected Value, or EV as it is frequently called, is a rather important aspect of gambling language one ought to endeavour to decode.
To be certain, calculating the EV of a bet can determine not whether if the player ought to make the bet, but also, just how he might lay that wager. In the first instance let’s determine the EV sums behind a common casino punting proposition.
The card game of Baccarat has wide appeal to casino bettors throughout the world. The game offers three types of bets where bettors can bet on the Player, Banker or a tied result.
One can know by reliance on leading gaming authorities, reinforced by computer made simulations from literally millions of plays, that the Banker bet in Baccarat will win marginally more frequently than the Player bet. One can also know that for every $100 layed on the Banker hand the player will be rewarded with precisely $98.91 as a average. How can this relevant?
To be clear suppose the Banker bet yields exactly $99 for each $100 wagered. It is determined that the bettor will forfeit $1 in for every $100 wagered. In other words the proposition of betting on the Banker handin the casino card game of Baccarat carries a negative Expected Value of 1%. In shorthand it can be written -1% EV or -EV 1.0.
If the bettor were to wager a a long string of even staked bets on Banker totaling $2,000 one can expect to lose 1% of the $2,000 turnover leaving one on average $20 poorer. Engaging a negative expectation casino game you should expect to lose.
However, should the casino offer a player $100 in bonus cash to sign up and patronise the Baccarat table on the terms he is obliged to wager a minimum of $2,000, then the EV is substantially changed in the your favor.
One can quickly compute the revised EV to be the amount of the bonus $100 minus the $20 expected loss in wagering $2,000 on Banker Baccarat hands. Putting it another way a profit of $80 on average will be the result.
Other such similar gaming situations ought to be weighed up when encountered in the real online casino gaming circles.
By Analyn Gravoso
Analyn Gravoso is a veteran of online casino gaming. Further resources available for online casino play tactics together with how to cash in on online casino bonus.