What ratios do many gamblers use to quantify their affairs ?

[swift]

I feel Expected Value (EV) like The amount a player can expect to win or lose over a long period of time, based on the odds of the game and the player's bets.
House Edge - The advantage the casino has over the player, expressed as a percentage. Also Return to Player (RTP) like - The percentage of the total amount wagered in a game that is returned to the player over time.

 

[CR7]

It sounds like you have a good understanding of the key concepts in gambling, such as Expected Value (EV), House Edge, and Return to Player (RTP). These ratios are fundamental in assessing the potential outcomes and risks involved in various casino games.

Expected Value (EV) is indeed a crucial concept that represents the average amount a player can expect to win or lose over the long run based on their bets and the odds of the game. Positive EV indicates a favorable situation for the player, while negative EV suggests that, on average, the player will lose money over time.

House Edge, on the other hand, is the advantage that the casino holds over the player in any given game. It is typically expressed as a percentage and represents the average percentage of each bet that the casino expects to retain as profit. The higher the house edge, the more favorable the game is for the casino.

Return to Player (RTP) is the opposite of the house edge. It signifies the percentage of the total amount wagered in a game that is expected to be returned to the player over time. A higher RTP implies that more of the total wagers will be paid back to players as winnings, providing a better chance of profitability for the players.

Understanding these ratios can help players make informed decisions when choosing which games to play and how to best manage their bankroll. By considering factors like EV, House Edge, and RTP, players can assess the risk-reward balance in different gambling activities and make strategic choices that align with their goals and preferences.