Understanding probability is crucial to winning at games of chance, or at the very least understanding that you won’t be winning long-term. What games does probability have practical applications in?
1. Poker- Poker is one of the few games of chance that a good player can expect to make money on in the long run. You have to be able to understand simple probability to do well in this game. What are the odds your flush or straight will hit? You have to be able to calculate the overall number of cards remaining and how many of those cards will help you to be able to figure out your percentage of winning. Then you must determine whether or not the investment will be worth the return. If you can do this effectively you should be able to win at poker, of course there are additional factors that you have to keep in mind like rake. It will take some practice to be able to effectively figure out your probability of winning to a very close degree of certainty.
2. Video Poker- In this game you are dealt a five card poker hand, you then must decide which cards you wish to keep before getting one draw. For example, if you are dealt A A J 9 5, you are probably going to keep just the AA and discard J 9 5, you will then get three new cards in an attempt to improve your hand. If your hand qualifies for a payout, then you will win chips, if it is not a sufficiently strong poker hand then you lose your investment. The biggest hand in this game is a royal flush and it’s often correct to discard small pairs in an attempt to get the big payout.
3. Blackjack- Another game that a player can technically win it. Be warned the only way to win at this game is to count cards, and at some casinos that may get you booted! If played correctly a player can get a small edge in this game, typically any time that edge is achieved they will make large bets to try and take full advantage of their momentary edge. You have to have a quick eye and a lot of practice to be able to pull this off effectively, not to mention a large bankroll.
Even with an effective use of probability it can be difficult to make money at these games, so be careful and remember to have fun!