Meta: Find out here if having a good understanding of statistics can help you place more informed bets or make better decisions when playing online casino games.
People who play online casino games and place sports bets on today’s most secure iGaming sites are always looking for ways to improve their chances of winning and lower the house edge.
On this page, we will be taking a closer look at how having a basic understanding of statistical knowledge can, in fact, help you make better decisions when playing certain online casino games or help you place more strategic bets that are more likely to occur (but never guaranteed to return you a profit).
How does understanding statistics help with sports betting and casino games?
Understanding some basic statistics can help you place more strategic sports bets and improve your gameplay in many online casino games.
Although it doesn’t guarantee you will win, it can help you lose fewer bets or fewer rounds of blackjack, for example, which can extend your gameplay sessions and help you hold onto your bankroll for longer periods.
How can it help when I play online slot machines?
When you play on a fully licensed and regulated South Africa real money slots website, understanding a few key stats can help you choose which ones to play. For example, the three key statistical factors to consider when playing online slot machines that many players consider before deciding which one might be worth playing are the following:
- Return to player (RTP%) payout rates
- Volatility (low, medium or high)
- Implied probability rate (IPR) and house edge
Most of this statistical information is really easy to find, and it can help you find the right slots worth playing and ones that might be worth avoiding. Let’s take a quick look at what this means.
Return to player (RTP%) payout rates
All computer-generated online slot machines today available on legally permitted websites like 10bet Africa are supplied by third-party software providers, and the outcomes in their games (if you didn’t already know) are pre-determined. They are produced by highly sophisticated Random Number Generators (RNGs) and pre-programmed to produce fair and realistic results.
Most slots have a 93.00% to 97.00% payout rate, and the higher this number is, the better it is for you, mathematically speaking, that is. For example, an online slot with a 97.00% RTP payout rate is more likely to pay than a 93.00% RTP payout rate slot for every $/€/£100 wagered. You can find the payout rate information in the paytable.
Volatility
Some online slot machines pay often, but the wins are lower in value. These ones are known as low-volatility slots. Others may hardly ever pay out, but when they do, the wins are much bigger in value (high volatility slots). All other slots in between are known as medium volatility slots.
Some players prefer low volatility, others high or medium, so perhaps consider this the next time you decide which slots to play.
Implied probability rate (IPR)
Whether you place sports bets or play online casino games, all bet types will have specific odds and an implied probability rate. Understanding these crucial stats can help you place more strategic bets and allow you to make better decisions when playing games.
For example, if a bet has 1/1 odds (1:1 or EVENS), then the implied probability rate (i.e., the chance of this outcome occurring) for that bet is 50.00%. Always remember that the higher the IPR is, the more likely that outcome will occur.
What kind of stats can help me place better sports bets?
It all depends on the sport. For example, if you want to place Premier League football bets, it’s important to gather as many useful statistics as possible. Try to find out each team’s recent form, injury news, starting line-ups, and historic results between those two teams.
Even finding out what the weather will be like on matchday can help you place more informed bets because some teams/players play much better than others in certain weather conditions.
Some of the other key stats in football that you should try to arm yourself with to help you place more strategic bets are things like recent signings, playing styles/strategies, top scorer statistics, most common time of first/last goal, and the most common number of red/yellow cards in a match.
Other stats that can help are assists statistics, most common final scores, most common half-time/full-time scores, and the importance of the match. Try to find as many other stats as you can get your hands on.
Final thoughts
Statistics are easy to find these days and are a powerful tool for online casino players and sports bettors. Understanding the many available statistics can help you in sports betting and playing slots, poker, baccarat, craps, blackjack, roulette, and many other games.
When placing sports bets online or playing online casino games, always gamble responsibly to ensure you remain within your budget. Doing so keeps things safe and will ensure you have fun gambling.
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