There is a delicate balance to gambling that hinges on an understanding of probability. Any bet you’re offered to make always has odds associated with it based on how likely the event is to happen. In some instances, sports betting being a prime example, the odds and the pay-out are normally very close without a fixed house edge- but it’s rare for a pay-out to be reflective of the true odds if you’re playing in the casino or having a go at the lottery. With that in mind, you may be curious which gives you the best odds to pay-out ratio if you’re planning to have a go at either.
Firstly, the lottery: it’s no contest which of the two will offer you the biggest jack-pot if you win. But what many people don’t realise is that there are prizes for getting only a few of the numbers correct, these prizes often go unclaimed because of this misconception. This is relevant because the odds of getting a few of the numbers right is dramatically better than the odds you’ll have of getting all of them. But does it tip the scales in favour of the lottery or is their impressively high house edge just too stark?
Looking at the casino, the range of games means that the odds of winning and the house edge is going to be different depending on what you’re playing but the benefits of the casino include a greater selection of games, an easier way to play with online casinos readily available all times of the day and great bonuses like free spins no deposit readily available to help you limit your costs. The sheer variety of games on offer at the casino and the variable house edge/pay-outs on offer makes it difficult to state outright which is most likely to see you making a solid return on your investment but the one that’s most comparable to the lottery in terms of odds and pay out would be the slot machines. Requiring a precise alignment for the biggest jackpot that comes from a randomised source, both games rely on pure luck and can have prizes that range depending on what you land. To give you a feel for which game is better for you, we’ve got this infographic that goes over some of the maths involved.