Games of chance are all around us. You can stumble upon them in various places, like lottery offices and pubs, you can see their ads on TV (this is only applicable to state-run lotteries, of course), and you can often meet them online, on social networks or in other, dedicated locations. Sometimes, they also come with a message speaking of big money falling into your lap. Games of chance are too big to ignore. The question is: do games of chance represent a way to earn money – big or small?
Let's take a look at the odds
The odds represent the ratio between the average frequency of a loss and the average frequency of a win. In the case of a coin toss, the simplest game of chance ever invented, the odds of winning are 1 to 1 for either party. The more complex the game, with the more possibilities to bet, the odds become less favorable to the player.
In the case of blackjack, one of the most-played games at All Jackpots Casino, the odds of winning a hand are almost 1 to 1. As such, blackjack has one of the lowest potential payouts (even money in case of a hand won, a bit more in the case of a Blackjack – look it up) of all the games you can find at the All Jackpots. This is because players have a rather good chance of winning, and casino operators are not charities, after all.
On the other end of the spectrum, we find progressive jackpot slot machines, also very popular at the All Jackpots Casino. These games come with a very attractive prize – the jackpot is often a seven-figure amount. The odds of hitting it are, in turn, far less attractive – 1 in millions, perhaps tens of millions (this is an information that casino operators don't like to release).
From a money-making point of view, the games with the better odds are perhaps better choices – yet to serve as a relatively viable way to make money, they are still pretty unpredictable.
Are lotteries better?
Billions of people all over the world buy lottery tickets week after week, hoping to hit a jackpot and become rich overnight. What they probably don't know (or don't want to know) is that the odds of winning a lottery are worse than the odds of hitting a jackpot at the All Jackpots Casino. In the case of Powerball, for example, players have 1 in 24 chances to win any prize. But their chance to win the Jackpot is far less attractive: 1 in 292,201,338.
Games of chance should be regarded what they are: a form of entertainment. And that's how the majority of casino players, online or otherwise, think of them. Although chances are they will pay the bills, they are far too unpredictable to serve as a primary way of making a living, and they shouldn't be considered as such.
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