What are Fixed Odds Games?
If you are not an expert in online casino gaming, then you are probably not familiar with the term “fixed odds”. That is perfectly ok, but at The Virtual Casino we think that it is important that you become more familiar with this term.
Any player will sooner or later run into the term “fixed odds games” and it can be very confusing. This article aims to explain the most common usages of the term in the context of online casino games.
Fixed odds games are those casino games in which the odds always remain the same. All online casino games are fixed odds games. For example, the single bet in roulette always pays at 35 to 1; any seven bet in craps will always pay out at 4 to 1. However, note that under some interpretations of blackjack, it is not included as a fixed odds game because the payout remains the same but the probability of winning changes depending on the cards you are dealt. So in this case, the probability is different but the payout is always the same.
It may be easier to make this concept a lot clearer by listing the games that are not fixed odds games. Sports betting is a good example of this because the payout is a multiple of the wagered amount and it depends on the collections which is not something the player knows at the time of placing the wager. This happens at gambling games like horse racing and football matches in which the parameters are changed by the bookmaker.
Now, you may be wondering why, if all casino games are fixed odd games, we need a term for the category referred as fixed odd games. Well, the reason for calling these games “fixed odd games” is that they offer fixed odds. But also, online casino games that could not be classified into any of the normal groupings came to be called by various names.
The normal groupings are slot games, video poker, table games and card games. So, any game that cannot be put in the normal groupings is often referred to as other games, specialty games, instant play games or fixed odds games. To understand this, we need to neglect the fact that other games offered at online casinos also have fixed odds. As an exercise, try looking around The Virtual Casino and see if you can find any fixed odd games (which might also be listed as specialty, instant play or others) and post it here so I can tell you if you understood the term correctly!