Casino Conditions
- Home
- About Us
- Contact Us
- eCOGRA Casinos
- Online Casino Reviews
- Free Sign Up Bonuses
- UK Casino Gambling
- UK Fruit Machines
- Reputable Casino Software
- Online Casinos Blacklist
- Casino Deposit Methods
- Poker Room Reviews
- Internet Bingo Games
- Wagering Requirements
- Managing Your Bankroll
- Internet Gambling History
- Basic Gambling History
- Industry Conferences
- Betting News
- Gambling Tips
- Card Games

 Gaming Rules
- Baccarat Rules
- Blackjack Rules
- Craps Rules
- Keno Rules
- Poker Rules
- Roulette Rules
- Slots Rules
- Video Poker Rules

 Gaming Tips
- Baccarat Tips
- Blackjack Tips
- Craps Tips
- Keno Tips
- Poker Tips
- Roulette Tips
- Slots Tips
- Video Poker Tips
 
Online Casino Conditions >>> Gambling Tips >>> July 2007

Getting Lucky or Unlucky in the Casino is Just a Label
by Mike Harrison, Strategy and Games Writer

Let's talk about standard deviation, shall we? The short-run fluctuations of expected casino game results are referred to by mathematicians as standard deviation. For the purposes of online casino gambling, you could say that standard deviation is the probability of your short-term gaming results falling in line with the prediction of probability.

Not to get too technical on you (because there is no point in doing so anyways), let's just say that standard deviation is a correlation between the number of bets and the prediction of probability. The more hands you have played, the smaller the standard deviation. Another way of putting it would be that the more time you spend gambling, the closer the expected game results will fall in line with the predictions of probability.

In a short time span, the deviations in game results can be very great - either for the better or the worse. When there is a fluctuation of wins, we often call this a run of good luck. When there is a fluctuation of losses, we often call this a run of bad luck. In actuality, good luck and bad luck has nothing to do with it, albeit these terms make for convenient labels. This is the sense in which the terms "good luck" and "bad luck" is commonly used these days.

And while it is fine to casually refer to your playing sessions in the online casinos as being "lucky" or "not lucky", always try to remember the lesson of standard deviation. The longer time you spend gambling in the casinos, "luck" becomes less important of a factor. On the contrary, more weight should be given to the mathematics of basic probability.

Back to Gambling Tips Index

Back to Online Casino Conditions' Betting News Index

 

© 2005 - Online Casino Conditions.com