When it cames to gambling, there are two basic types of games: games of chance and games of skill. Knowing the differences between the two is very important to you, the player. One type of game depends totally on Lady Luck, and requires little skill on the part of player;the other type depends a great deal on the skill of the player and very little on luck.
GAMES OF CHANCE include craps, roulette, slot mashines,wheel of fortune,keno,bingo, and lotteries.The key to determining why these are considered games of chance is this: the dice, wheel, and ball have no memory – what happened on the last throw of the dice or spin of the wheel has no bearing on what happen next. Each event is independent and separate, with no relationship to the preceding or succeeding event (events of independent trials).
When we look at GAMES OF SKILL such as blackjack, baccarat, video poker, regular poker, sport, and horse racing, we discover that what happened before does affect what is going to happen next, making these events of dependent trials.For example, if all the aces have shown up in the first round in blackjack, we know that no more will turn up until the deck is reshuffled. Likewise, playing perfect strategy at poker (or even video poker) will greatly increase your chances of winning the hand.