Betting Odds in Online Casinos & Sportsbooks: What Are Your Chances of Winning?

Winning odds is one of the biggest concerns of people who bet on sports. There’s a common conception that betting providers are rigged and that the betting odds are against you and there’s no chance of winning money when you bet, however, this is wrong. 

People believe online casinos are designed in a way that the players always lose and never win any money. In this article, we talk about whether that’s true. And if online casinos aren’t rigged, what are the odds of you winning a game

Let’s dive in. 

So, are online casinos & sportsbooks rigged?

When it comes to sportsbooks such as the Unibet sports betting site, the odds differ from one game to another. One should always go through the odds of a match prior to betting on it to see how much money they can make if their bet goes right. Most of the regulated sportsbooks on the market have fair odds which generally play out according to the respective team or athlete’s chance of winning the match.

When it comes to casinos, If you’re looking for a simple answer — no. Online casinos aren’t rigged — especially the regulated and licensed ones. 

However, just like brick-and-mortar casinos, online casinos are businesses and their goal is to make money. That means not everyone can win a casino game and take home a large stack of cash. Casinos are designed in a way that someone wins a game after people have spent enough money on the game. 

That doesn’t mean the casino keeps a record of how many people have spent money. In reality, the chances of winning are calculated statistically. For instance, the chances of winning could be 1% — but that doesn’t mean every 100th player who spends the money is going to win. Two consecutive players can also win the game. The winners are chosen randomly so nothing is predictable. 

However, many people tend to think online casinos are rigged after they have lost the game — but that’s just human nature and you people tend to put blame on something rather than accept the fact that they might be just unlucky.

How to calculate your chances of winning

The real formulas to calculate your winning probability could be really tricky. But we’re going to make it as simple as possible for you. 

The first thing you need to do is find the total number of slots you can choose from. If there are a total of 50 slots and you can choose to bet on one number between 1 and 50, the chances of you winning the game are 2%. 

Take the number of selections you can make and divide it by the total number of slots. Then multiply the resulting number to 100 to draw the percentage.

This calculation is made for a simple betting game where you pick a number between 1 and 50 and bet on it. Of course, the formula gets more and more complex as you get into more complicated games. But you get the idea. 

Many people believe online casinos are rigged especially after they have lost a bunch of consecutive games. However, that’s not right, people lose games due to the nature of casinos, not everyone is lucky and can win.

You should just try your luck and who knows maybe you will be one of the lucky ones and will win something, there is no harm in trying and it is a fun way to spend your time and you can play at any time that is convenient for you.