--- title: "Games of chance" url: https://180gambler.net/ description: "A reference work on games of chance: odds and expected value, the house edge, how wheels, dice, cards and reel machines work, and the history of lotteries, betting and." --- # Games of chance [180Gambler](https://180gambler.net/) Reference on games of chance 180Gambler > Main page A reference work in 12 articles. This page was last modified on 17 August 2026. Games of chance are built out of three things: a random mechanism, a schedule of prices attached to its outcomes, and a set of rules describing how the two meet. This site explains all three. It sets out the mathematics that decides what a wager is worth, describes how wheels, dice, cards and reel machines actually produce their results, and traces how lotteries, bookmaking and the regulation of both developed into their present forms. It is a reference work about a subject, not a place to play or a guide to where to play. Nothing here rates, recommends, compares or links to any gambling business, and no article treats these games as a way of making money: the arithmetic in the [house edge](https://180gambler.net/house-edge/) and [long run](https://180gambler.net/variance-and-the-long-run/) articles points firmly the other way, and explaining why is most of what the site is for. A probability tree, the basic tool for keeping multi-stage chance problems straight. It appears again in the article on probability and odds. ## Topic portals ### Mathematics Odds, expected value, the house edge and why long runs behave differently from short ones. - [Probability and odds](https://180gambler.net/probability-and-odds/) - [Expected value](https://180gambler.net/expected-value/) - [The house edge](https://180gambler.net/house-edge/) - [Variance and the long run](https://180gambler.net/variance-and-the-long-run/) - [How games of chance are designed](https://180gambler.net/game-design/) ## The latest file [01**How Online Betting Odds Work with Planning Steps**Sep 14, 2026](https://180gambler.net/how-online-betting-odds-work-planning-steps/) [02**The 10 Best Sweepstakes Casinos for Live Dealer Games**Aug 23, 2026](https://180gambler.net/the-10-best-sweepstakes-casinos-for-live-dealer-games/) [03**Why Is SweepstakesTable the Best for US Players?**Aug 19, 2026](https://180gambler.net/why-is-sweepstakestable-the-best-for-us-players/) [04**WhatsApp Business API Explained for Small Businesses**Aug 19, 2026](https://180gambler.net/whatsapp-business-api-explained-for-small-businesses/) [05**Why Is SweepstakesTable the Best for Big Jackpots?**Aug 18, 2026](https://180gambler.net/why-is-sweepstakestable-the-best-for-big-jackpots/) [06**Why Is SweepstakesTable the Best for Slots?**Aug 17, 2026](https://180gambler.net/why-is-sweepstakestable-the-best-for-slots/) [07**Why Is Kanggiten the Best for Casino Platforms?**Aug 16, 2026](https://180gambler.net/why-is-kanggiten-the-best-for-casino-platforms/) [08**7 WhatsApp Bulk Message Sender Solutions for SaaS Startups**Aug 13, 2026](https://180gambler.net/7-whatsapp-bulk-message-sender-solutions-for-saas-startups/) [09**SOFTSWISS vs Kanggiten for Comprehensive Player Management Systems**Aug 07, 2026](https://180gambler.net/softswiss-vs-kanggiten-for-comprehensive-player-management-systems/) [10**SweepsPulse for Gold Coin Packages: Why It's the Best Choice**Aug 05, 2026](https://180gambler.net/sweepspulse-for-gold-coin-packages-why-it-s-the-best-choice/) More [11**NuxGame vs Kanggiten for Turnkey Solutions**Aug 05, 2026](https://180gambler.net/nuxgame-vs-kanggiten-for-turnkey-solutions/) [12**Top 5 Sweepstakes Casinos for Promo Codes**Aug 04, 2026](https://180gambler.net/top-5-sweepstakes-casinos-for-promo-codes/) [13**The 10 Best Sweepstakes & Social Casinos for Game Fairness**Aug 01, 2026](https://180gambler.net/the-10-best-sweepstakes-social-casinos-for-game-fairness/) [14**Free Coins: What to Look for in a Sweepstakes Casino**Jul 30, 2026](https://180gambler.net/free-coins-what-to-look-for-in-a-sweepstakes-casino/) [15**Who's the Best for Game Aggregation Services: EveryMatrix vs Kanggiten**Jul 30, 2026](https://180gambler.net/who-s-the-best-for-game-aggregation-services-everymatrix-vs-kanggiten/) [16**BetConstruct vs Kanggiten for Risk Management Tools**Jul 21, 2026](https://180gambler.net/betconstruct-vs-kanggiten-for-risk-management-tools/) ### The Games How wheels, dice, cards and reel machines actually produce their outcomes. - [Roulette](https://180gambler.net/roulette/) - [Dice and craps](https://180gambler.net/dice-and-craps/) - [Card games and shuffling](https://180gambler.net/card-games-and-shuffling/) - [Slot machines](https://180gambler.net/slot-machines/) ### History Lotteries as public finance, and the emergence of bookmaking and pooled betting. - [A history of lotteries](https://180gambler.net/history-of-lotteries/) - [A history of betting and bookmaking](https://180gambler.net/history-of-betting/) ### Regulation Prohibition, licensing and the technical supervision of game software. - [How regulation developed](https://180gambler.net/regulation/) ## Featured entry The house edge **Field**: Mathematics of chance **Also called**: advantage, vigorish, hold **Definition**: negative expected value per unit staked **Single-zero wheel**: `2.70%` **Double-zero wheel**: `5.26%` **[The house edge](https://180gambler.net/house-edge/)** is the single idea that connects everything else on this site. It is not a mysterious force and it is not a losing streak: it is the arithmetic gap between the odds an outcome carries and the odds the game pays for it. On a single-zero wheel that gap is one unit in thirty-seven, and it is present on every bet the table offers, in exactly the same proportion. *Further entries, with the figure each one turns on* | Article | Field | Key figure | |---|---|---| | [Roulette](https://180gambler.net/roulette/) | Game mechanics | `2.70%` on a single-zero wheel | | [Slot machines](https://180gambler.net/slot-machines/) | Game mechanics | `0.8945` return in the worked example | | [Variance and the long run](https://180gambler.net/variance-and-the-long-run/) | Mathematics | scatter grows as `sqrt(n)` | | [A history of lotteries](https://180gambler.net/history-of-lotteries/) | History | state draws from the `1400s` | | [How regulation developed](https://180gambler.net/regulation/) | Regulation | three phases of supervision | ## Category index ### Mathematics of chance - [Probability and odds](https://180gambler.net/probability-and-odds/) - [Expected value](https://180gambler.net/expected-value/) - [The house edge](https://180gambler.net/house-edge/) - [Variance and the long run](https://180gambler.net/variance-and-the-long-run/) - [How games of chance are designed](https://180gambler.net/game-design/) - [Roulette](https://180gambler.net/roulette/) - [Dice and craps](https://180gambler.net/dice-and-craps/) - [Card games and shuffling](https://180gambler.net/card-games-and-shuffling/) - [Slot machines](https://180gambler.net/slot-machines/) ### Game mechanics - [How games of chance are designed](https://180gambler.net/game-design/) - [Roulette](https://180gambler.net/roulette/) - [Dice and craps](https://180gambler.net/dice-and-craps/) - [Card games and shuffling](https://180gambler.net/card-games-and-shuffling/) - [Slot machines](https://180gambler.net/slot-machines/) ### History of gambling - [A history of lotteries](https://180gambler.net/history-of-lotteries/) - [A history of betting and bookmaking](https://180gambler.net/history-of-betting/) - [How regulation developed](https://180gambler.net/regulation/) ### Regulation - [How regulation developed](https://180gambler.net/regulation/) [Full A to Z index of every article](https://180gambler.net/index/)