Risk versus reward is the core concept of all gambling, in all its forms. Its a simple prospect; take more risk but stand the chance to win more cash overall, or take less risk and stand the chance to win less cash overall. The concept makes perfectly logical sense, and anyone would agree that it’s a fair trade.
This does not mean, however, that a player has to commit themselves 100% to one path or the other. The rules do not require that a player either leap in like a risk-loving madman and throw down multiple high risk bets. And likewise, it does not mean a person must swear to never place any bet one that has lowest possible risk factor. The best approach is a blend of a few carefully thought out high risk bets, balanced out by a number of lower risk bets.
Let’s take a closer look at how to strike a balance between a high risk and low risk betting, that will result in the optimal gameplay approach.
Roulette Betting Strategies
One of the best online casino games to look at when talking about risk versus reward is online roulette. This is because the game very clearly has it’s betting table laid out, with all the potential betting options very strikingly displayed. At a glance a player can get an idea of the risk and reward involved in each betting option, and so make appropriate decision based on their strategy.
Placing a single, high bet on just one number in roulette is enormously risky. But, it is very easy to see this, just by taking a look at the roulette wheel. The white ball will land in one of the many pockets, and the chances of predicting exactly which pocket is not likely, unless you are extremely lucky. But, should a person manage to predict such an outcome, an appropriately large payout will be made.
But does this mean a person must rather ignore the high-risk bets in roulette? Not at all. It simply means they need to balance out the risk.
Multiple Bets In Roulette
In roulette, a person is not required to place just on bet per spin. Multiple bets can be placed, which is an excellent way to help balance out the risk, and dynastically immersive the chances of earning payouts. For example, roulette has the much favoured red or black betting option, which offers a roughly 48% chance of winning, depending on if it is an American or European roulette wheel. As a side note; playing on the European wheel is objectively better for the player, and should be insisted upon.
If a bet is placed on red or black, plus another bet on a single number, the risk is now slightly balanced out. Even if the single number bet fails, which it likely will, there is still a chance that the red or black bet will succeed, and so cover the betting costs. Note that an appropriate betting amount will have to be placed on red or black in order for this to work.
And this is just the beginning of risk balancing.
A single number bet, plus a red or black bet, is a good start, and should help a player understand how best to approach a risk versus reward game. But, of course, there is much more that can be done beyond this simple betting setup. A player may consider adding a third bet to the above mentioned scenario, perhaps on the first, second, or third twelve. This would again balance out the risk, offer more chances of earning payouts, and provide better payout opportunities.
Keep in mind that roulette has a number of unique betting options, with a great deal of possible combinations. Any number of risk balancing betting strategies can be worked out, that drastically improve the chances of earning payouts. Smart players will spend a great deal of time working out the best betting combinations, and applying them strategically.
Risk vs. Reward In Other Games
Risk versus reward is clearly displayed in roulette, but is also a factor in just about any casino game one cares to play. It’s just a matter of finding where the statistics are, and working out how to play them effectively. Those who are serious about casino games will know how to approach any casino game they are interested in, while aiming for the best possible winning results.
In blackjack, for example, there is a certain percentage chance of beneficial cards being drawn, which will add up to a risk versus reward situation. Knowing when to call for another card, and when to stick, is key. But, understanding the likelihood of each card making an appearance is no small ask. It is advised that a strategy guide be adopted, as with any casino game, which will help manage risk.