Of course not. Although this seems clear, the definition of each of these three terms can already prove quite difficult to pin down, at least when we want to explain the operation of each of them. The easiest way to explain this is by using gambling examples, and therefore in the most practical form possible.

## Probability Calculation

We start with it because calculus of probability, is the least random element of gaming. It is a kind of mathematical tool for repeated random events, which include gambling. They are almost a textbook example of such events. Each time we have a certain pool of possibilities. Our role is to develop a strategy that allows us to win a small but fairly certain amount, or to play a riskier game, i.e. to analyse the results and try to get less frequent but bigger wins based on the most accurate statistics possible.

Probability will tell us how great the chance is of getting the event we want at a certain point in time. On the other hand, it can also determine the statistical number of repetitions for each possible event throughout the game. In other words, it will help us choose the statistically best decisions for any strategy. Probabilities will even indicate whether it is worthwhile to actually enter the game.

We calculate it in a very simple way. It is the number of occurrences of the desired situation (for simplicity let’s call it the number of wins) divided by the number of all attempts made. We usually give the result as a percentage or fraction in the simplest possible form.

## The Chance of Winning

Calculating the odds of winning is nothing more than analysing the ratio of wins and losses to date. For example, in a ratio of 1:3, there has been one win (we usually give this number as the first one) and three losses. In order not to complicate things, we can also write down any multiples of these numbers remaining in the same ratio, such as 4:12.

If necessary, we can translate the chances of winning into the above-described probabilities quite simply. It is enough to calculate what percentage of the number of all attempts (the sum of the right and left sides, i.e. 1+3=4) is the number of wins (i.e. 1). Already knowing the two main components of the action, we substitute them into the formula:

LW/LWP*100%

In our example, the action looks as follows:

1/4*100%=25%

If the chances of winning are 1 in 3, then the probability of winning is 25%.

## A Bit of Luck

The last term to be explained is customarily referred to as luck. The evaluation of chances as well as the calculated probability are intended to tell us how likely a particular outcome of a game is to occur. In other words, what is the chance that we will get lucky. This is a completely random element of games, and in the eyes of the uninitiated, it is the main axis of gameplay. And indeed – looking at the game from the sidelines, all we can see are people betting on a random outcome, none of whom reveal more potential than others. Only by delving more deeply into the strategies do we learn more and more about the possibilities.

## Coincidence or Maths

It was the calculations made during the game that led to games such as poker being referred to as sports. As the game developed, rules were developed to reduce the randomness of the games. Since then, skill has become increasingly important, i.e. assessing risk, quickly calculating the value of the cards and estimating the number of cards in the remaining deck to be dealt.

When it comes to calculating win/loss ratios and luck, all starter gambling games can be treated the same. Card games are instead very interesting in terms of probability. Not only do we have to take into account the number of players and possible events here. Much more important is the fact that the calculations made during each stage of the game can significantly affect the outcome. By comparison – when playing roulette, we can take part in any game and our chances remain very similar, regardless of the results that occur during the course. Of course, it should be taken into account that a particular event is unlikely to occur twice in a row, but this is an unreliable starting point.

The card game, is a different story. The probabilities change as soon as the first cards are dealt. From that point on, the deck is depleted of specific figures. Depending on the number of decks used, this can mean not being able to hit a particular card again until the end of the game, or the chances reduced by half or 1/3 – we will rarely go beyond three decks, so consider this number the upper limit.

The calculation has to be repeated every time new cards appear on the table. On top of that, there is also the probability of one of the other players or the dealer holding a given card. In addition, after all, each of them may have a card in their hand, allowing them to get a better result than the one we are counting on ourselves.

The conclusion is simple – the more complicated the calculus of probabilities we are forced to make, the less we will count on luck and the more varied the chances of winning will be for individual players. At least in theory.

## What Exactly is Gambling

We can consider the terms ‘chances’, ‘probability’ and ‘luck’ as the basis of gambling. They express exactly what the player operates on. Each time, he or she takes a strategy of his or her choice in order to obtain the best possible result, and each time he or she is aware that he or she is at risk of losing everything in one unlucky moment.

Given the size of the jackpot, many newcomers tend to ignore the statistics and rely solely on the luck of the draw. More experienced players are already able to refrain from such actions. Of course, gambling games have a lot of chance in them. We will never be able to predict the course of the game so much that we can bet completely safely on a particular possibility and make a profit without the slightest risk. What’s more – casinos know ways to improve their own odds and gain even a few per cent advantage over the player. Of course, given the number of all factors and possibilities, even they do not stand a decisively better chance as long as they do not come across a person inexperienced and unaware of the rules governing the world of gambling.

## Conclusion

In conclusion, games of chance should always be regarded as entertainment. Regardless of the level of sophistication, we will not be able to ensure completely safe winnings even if we stick to all possible rules. You should never count on playing with certainty. If you are unlucky, even the most complicated calculations and accurate statistics will not help. Instead, it is comforting to know that luck is sometimes changeable. Just like us, any of the other players can lose everything they have won at any time, and who knows? We might end up with the jackpot.