In recent gambling days, bookmakers were the first professionals to make use of statistical analytics. Thanks to the availability of affordable computing platforms, bookmakers use big data to create realistic gambling odds. And since they source their big data from previous games and players’ scoring patterns, their data is quite accurate.
Statistical analysis is an indispensable tool for anyone involved in events of probability or chance. So, it is only natural that players on websites such as SG casino online have an interest in data analysis. Moreover, even before the rise of gaming, successful gamblers had to use statistic to win casino games.
With that in mind, gambling statistics are becoming indispensable for all stakeholders who want to get a piece of that market share.
Beat the Dealer Using Casino Industry Statistics
Edward O. Thorp was a math scholar whom many gambling players consider the father of “card counting”. He published a book called “Beat The Dealer” in 1962, which used math equations to predict gambling activities. His equations did what he called “card counting” to predict the outcome of games such as blackjack.
Thorp made stacks of cash gambling in Las Vegas casinos using his methods. As you would expect, when such places learned of the strategy, they banned it. And they also threw out any player they suspected was using the card counting system.
Internet Casino Skill Games
|Skill||Mixed||Games of Chance Only|
|Dominoes||Caribbean Stud Poker||Casino War|
How Card Counting Works in Predicting Gambling Outcomes
In card counting, the system, using gambling industry statistics, assigns low and high values to cards. The player then has to keep a running tally of the cards dealt in blackjack. And they have to do it mentally to avoid raising suspicion from the dealer.
As the deck of cards depletes, the odds of what types of cards are remaining become more obvious to the gambler running the tally. Then, the players easily predict the winning chance or losing an internet casino game. Thus, they effectively shield themselves from losses and go after apparent wins.
Thorp also applied his strategy to hedge fund trading and made even larger sums of money than he had made in casinos. The takeaway is that understanding the numbers is vital for any event involving predictions. Successful gambling requires players to focus on calculating odds and applying risk management strategies.
How to Make Gambling Predictions
Access to casino gaming industry statistics helps you make accurate mathematical predictions when analyzing winning odds. You can then use the knowledge to select chances when you have higher odds of winning. With practice using free online casino games, create a list of those with the best winning odds.
Internet Games with Low House Edge
- Blackjack – 0.43% to 2%
- Baccarat – 1.06% to 1.24%
- Craps – 1.36% to 1.41%
The online gambling data shows the industry may reach $95.05 billion by the end of 2023. Moreover, research data shows the industry will maintain an annual growth rate of 8.54%, pushing its market volume to $131.90 billion by 2027.
How Casinos Make Gambling Predictions
Online casinos use industry statistics to optimize their platforms and run marketing campaigns. It is done by evaluating marketing campaigns with the most clicks and regions that bring in the most revenue. They look at spending ranges from players from each area and if players often choose the same option.
Another popular technique is using languages, slogans, and phrases to target the most profitable regions and demographics. It allows the use of data to plan online casino customer support and target players with specific offers. They have tested these games using promotions to discover players interested in them.
You can use data to create your gambling industry predictions and play casino online successfully. And more importantly, you avoid having a continuous losing streak. That is what leads most people to become problem-gambling victims.
You have to keep in mind, there is also an element of luck in virtually all gaming offers. Overall, with more data about each game, you can easily find some that give you the best odds. So, choose the casino that fits you and practice responsible gambling.