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Chance

What is ‘Chance’?

By definition, games of chance involve random elements that are largely responsible for the outcome, whether it is a coin toss, rolling the dice, spinning the reels of a slot machine, or turning right instead of left, an unpredictable variable will always be present.

Playing games of chance is a nice diversion from the daily grind of 9 to 5, and are not only a good way to relax and have some fun, but under the right circumstances, can become profitable.

‘Chance’ Explained

The most common casino games that involve chance are divided into numerous categories, and while many more categories exist, the following examples are the most popular:

Gambling Games of Chance: This applies to both land-based casinos and online casino venues, and includes all games where people wager money trying to win even more money. Good examples include games of chance like sports betting, keno, the lottery, bingo, and slot machines.

Dice Games of Chance: Dice are the cornerstone element involved in these types of games, and popular favorites include craps and poker dice.

Card Games of Chance: Despite the fact that most card games like Poker and even Blackjack require a great amount of skill and strategy, there is still a lot of chance involved, especially when the table has a lot of beginning poker players, where more practice is necessary to displace the element of chance with skill and strategy.

Mobile Games of Chance: There are literally thousands of mobile casino games and apps available for all the popular hand held devices being used today, and most of the online casinos offer mobile versions of their online venues, where there are (in most cases) hundreds of games of chance available to play for fun or for real money.

Computer Games of Chance: These are games of chance that are played directly from a Windows desktop PC, or an Apple Mac, or Linux computer, instead of on a Nintendo or Playstation console. Quality and complexityof the games range greatly, depending on the developers. There are a lot of gaming computers that will enhance the graphic quality and overall computing power of the games that give them an impressive edge over console games.

Other assorted categories for games of chance include Arcade Games, Board Games, Drinking Games, Mini Games, Paper & Pencil Games, and Tile Games to list just a few.

Games of chance can be found in arcades, at race tracks, in bars and pubs, restaurants, and of course in casinos (both land-based and online). If you are 18 + years old, you can also walk into any convenience store and purchase lottery tickets; some of which invlve picking number combinations, while others are instant win scratch off lottery tickets.

If there was a 30% chance of rain tomorrow, a meteorologist has looked at several days with conditions the same as tomorrow, and for 30% of those days, there was rainfall.

We cleverly disguise probability with terms like chance, likelihood, odds, and percentage. It is written as a percentage, or use it in terms of odds. The term for chance can also take many forms, and it can apply to a single entity, or to a group of entities. Then apply percentage, or a word, such as likely, and the bottom line of all probabilities is that it revolves around a long-term chance of an event or outcome. Probability is defined as the long-term chance that a certain outcome will occur from some random process.

Like the term Chance, probability can also apply to an individual or a group, but because probability represents long-term percentages, it is easier to interpret how they apply to groups, as opposed to an individual. Depending on the situation, to apply it one way makes more sense than the other.

A good example of probability based on long-term percentages is playing the instant lottery. Let’s say the chances of winning any prize is 1 in 10 (10%). This means that in the long-term, or in thousands of tickets purchased, 10% of all lottery tickets for this specific game will win a prize, however 90% will not. It does not mean that buying 10 tickets guarantees a prize. If you buy several groups of 10 tickets, an average of 10% of those purchased tickets will win a prize, however in some cases, a group of 10 tickets may produce multiple winners, and others may produce none. The winning tickets are mixed up into the total number of tickets produced for that game.

Probabilities determine the chances that a pregnant woman’s child will be born with genetic defects, or the chances of complications during surgery, or when buying a vehicle, the chances of needing repairs, of the vehicle lasting a certain length of time or number of miles, or of surviving a crash, based on whether or not a seat belt is or isn’t worn. As you can see probabilities affect chances in almost every decision we make, and no matter what the chances are, anything is possible.