Tag Archives: equal

Online Bingo Game Systems (Page 1 of 2)

While most people believe that playing bingo involves only luck, a few tips and a little more familiarity with the nuances of the game can improve your chances of winning. In the machine, there are seventy-five balls and the probability of any of the balls turning up being equal is one in seventy-five that means that there is uniform distribution. Despite this, a few events are a little more likely to occur than the others are. Therefore, there is an equal number of numbers ending in one, two, three, four, etc. The number of odd and even numbers will tend to be equal. This would also extend to high-end and low-end numbers. All these observations will hold true unless there is a bias.

Every bingo card has 24 numbers and there is a free spot in the middle. These occupy 16 strategic squares while the rest of the numbers occupy the dead squares. The winning bingo combinations occupy the strategic squares.

As the random sample increases in size, the result comes closer to the population value. The average in the bingo game is 38. While the first few numbers might not yield this mean as the game progresses this will be the case. This plays a key role in selection of cards. Moreover, there will a large number of figures that will end in different digits. Therefore, the secret to improving your odds is to concentrate on the master board rather than on the cards.

Of course, most people are skeptical of the skill that might be required to play the game and tend to dismiss theories on improving odds at bingo as mere fantasy. They say that there is no way to predict what might come out of the machine and it is all pure luck. The essence of the game is selection of cards. It is a simple and elegant playfield. The fast that in North America alone there are fifty thousand odd bingo halls is proof of its popularity. The aim is to complete the game pattern on the bingo card before other players do. The methods that players employ to select cards are antediluvian and they tend to impair their own chances in the process. However, the truth is that you can very well make the game pay you as you play.

Also, remember that those who play many cards at the same time under the delusion that they are going to improve their chances at winning in this process are only losing out.

Today you have the option of playing bingo online. Here you are spared the bother of seeking out games at the local bingo hall. You have access to these 24 hours a day and all days of the week. You can also play free games purely for fun as the site provides or real money games where the players compete for the jackpot.

The quick success of online bingo can be attributed to the fact that the online sites replicate the ambience of regular halls to a great degree. So the players can actually engage in conversation with other players. On the Internet, you have several options like Bingo Royale, Extreme Bingo, 50-cent Room Bingo, Dime Room Bingo, and Play for Fun Bingo and Nickel Room Bingo. There is a wide choice available for people with any budget. They cater to the needs of the estimated hundred million Bingo players of the world and the ten billion dollars that are wagered on the game yearly. This market is only set to grow further at a rate of four hundred percent in the next two years.

Betting Odds, Implied Probability And Beating The Closing Line (Page 1 of 2)

In order to profit long term from gambling, it is essential to understand the underlying mathematical concept behind the odds offered by sportsbooks.

Using a random line at Pinnacle Sports for a mythical Yankees/Royals game we see New York offered at -220 and Kansas City at +206 and from those betting lines, we can calculate the implied probability each team has of winning that particular game.

To calculate the implied probability of winning for a favorite (where the odds are negative), take the absolute value of the odds and divide that by the absolute value of the odds plus 100. For the New York Yankees, the implied probability of winning is:

220 / (220 + 100) = 220 / 320 = 0.6875 = 68.75%

To calculate the implied probability of winning for an underdog (where the odds are positive), divide 100 by the sum of the line plus 100. For the New York Yankees, the implied probability of winning is:

100 / (206 + 100) = 100 / 306 = 0.3268 = 32.68%

Looking at the percentages, the sum of them is over 100 which is never a good sign for percentages; in fact, the sum of them is 101.43%. The additional 1.43% represents the theoretical hold for the sportsbook or more commonly called the vigorish (and generally shortened to vig) which is the % amount charged by the sportsbook for its services. Assuming that the sportsbook draws in equal action on both sides it will then make 1.43% profit on the total amount of bets placed but since they are unlikely to attain equal action in most betting lines, it is only a theoretical hold.

Since the winning percentages contain an element of vigorish, we need to remove that in order to end up with the actual, rather than the implied, winning percentages and this will give us the no vig line; this is done by dividing each implied winning percentage by the sum of both winning percentages.

For the New York Yankees, the actual probability of winning is:

0.6875 / 101.43 = 0.6778 = 67.78%

For the New York Yankees, the actual probability of winning is:

0.3268 / 101.43 = 0.3222 = 32.22%

Now we can convert the two actual win probabilities into a no-vig line.

For an actual win probability equal or greater than 0.50 – or 50% in percentage terms – the formula (where FV is equal to the decimal win probability of the favored team) for the Yankees line is:

-100 / ((1 / FV) – 1) = -100 / ((1 / 0.6778) – 1) = -210.4

For an actual win probability less than 0.50 – or 50% in percentage terms – the formula (where UD is equal to the decimal win probability of the underdog) for the Royals line is:

((1 / UD) – 1) * 100 = ((1 / 0.3222) – 1) * 100 = +210.4

Since the sportsbook vig has been removed from the lines, the lines are identical in absolute terms.

This above example is where there is a clear favorite (with negative odds) and a clear underdog (with positive odds). However in the cases where there are two teams which are similarly favored by the market or, more commonly, the betting lines which use a point spread the calculation is slightly different. In this case the implied probability and actual probability can be calculated by using the New York Yankees example of calculating the implied and actual probability of winning.