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Glossary

Odds and maths: Glossary

Glossary on Odds and maths. Short, accurate definitions of the terms used in casino and arcade games.

  • Odds and maths

    Bankroll (definition and limits)

    A bankroll is the amount set aside for play. What bankroll management can and cannot do, with a worked example at a 3 percent house edge.

  • Odds and maths

    Basic strategy (blackjack definition)

    Basic strategy is the play that gives a game its best long-run return. Cashout Arcade Blackjack returns 97 percent only with it. See what weak play costs.

  • Odds and maths

    Expected value (definition and examples)

    Expected value is the average result of a bet if repeated endlessly. Worked out for a roulette number and a red bet at Cashout Arcade's 97 percent return.

  • Odds and maths

    Gambler's fallacy (definition and example)

    The gambler's fallacy is the belief that a result is due after a streak. See the Coin Flip numbers that show why the next flip is always 50 percent.

  • Odds and maths

    Hit frequency (definition and examples)

    Hit frequency is how often a round pays anything. See why Sun Temple's 35.98 percent hit rate hides a 10.46 percent chance of beating your bet.

  • Odds and maths

    House edge (definition and examples)

    House edge is the share of each wager a game keeps on average, 100 percent minus RTP. See Cashout Arcade's 3 percent edge worked out with real numbers.

  • Odds and maths

    Independent events (definition and examples)

    Independent events do not affect each other, so past results say nothing about the next one. Roulette and Coin Flip are independent; Mines tiles are not.

  • Odds and maths

    Law of large numbers (casino example)

    The law of large numbers says averages settle toward the expected value as rounds pile up. Why a 97 percent RTP shows over 10,000 rounds, not one session.

  • Odds and maths

    Martingale (betting system explained)

    The martingale doubles your bet after every loss. The worked numbers show why it cannot beat a 3 percent house edge and can end in one huge loss.

  • Odds and maths

    Odds and Maths Terms: RTP, House Edge, Variance Defined

    Clear definitions of 22 odds and maths terms, from RTP and house edge to expected value and the gambler's fallacy, with worked numbers from real games.

  • Odds and maths

    Provably fair (definition and limits)

    Provably fair means a player can check a game result was not changed, using a seed hash. What it proves, what it does not, and how we differ.

  • Odds and maths

    RNG (random number generator)

    An RNG is the software that makes a game's results unpredictable. How pseudo-random numbers work, and how Cashout Arcade turns one draw into a payout.

  • Odds and maths

    RTP (return to player)

    RTP is the share of all coins wagered on a game that it pays back over a very long time. Cashout Arcade games return 97%, a 3% house edge.

  • Odds and maths

    Volatility (definition and examples)

    Volatility is how far a game's results swing around its average. Compare low and high risk Wheel and Slots at the same 97 percent RTP with real figures.