Add game to your favorites Play around with risk and probability in this simple betting game and get a crash course on how probability and risk management work. Place your bets and win as many times as you can within 10 bets. Move the sliders to adjust your bets. When you’re done, select the bet button to see if you win or lose. Keep betting until you’ve run out of money or bets. Re-bet if you want to play again. Overall Design Difficulty Replay Play Choose Your Odds Game Online 424z3i

Children and parents can play this place your bet game by clicking in the window below.

Alternatively kids and adults can play this bet odds adjusting video game for free as a web application here.

Choose Your Odds Game for Kids Video Game Play Instructions 1v4h4x

• Starting the Game
  • The game is immediately playable once it loads.
  • Your web browser automatically saves your name and best income.
• Game Controls
  • Desktop
    • With your mouse, left click to select.
  • Touchscreen devices
    • Tap on the screen with your fingers to select.
  • Controls and indicators
    • Gear button: Lets you see your name and winnings.
    • Enlarge button: Lets you switch between windowed and full screen modes
    • Rank button: Shows how you rank in the leaderboard
    • Income
• Game Play
  • Basic rules
    • You start with $50,000 in income.
    • Move the bet slider to change the amount of money you’ve bet.
      • The higher your bet, the lower your chances of winning.
      • Your bets are based on a percentage of your income.
    • Once you’ve finished adjusting the sliders, select the bet button.
      • You will automatically win or lose and money will be reflected on your .
      • You can bet up to 10 times.
      • Keep playing until you’re out of bets or money.
    • The money you win is added to your income.
    • When you run out of bets, you can select the bet button to bet again 10 times.
  • Probability
    • The game’s engine works using probability.
      • As you increase your bets, you increase your odds of losing.
      • For instance, if you bet at a level where you have a 95% chance of winning means that you can nearly always play a perfect game where you win all 100 bets.
      • Likewise, if you choose a bet that has a 70% chance of winning, you will lose big at least around 3 times.
    • Because of the way the game’s engine works, you actually increase your losses when you keep your bets static throughout the game.
      • If you bet 75%, you may win at least 6-7 times, but each time you lose, you lose more money
      • Thus, losing at inopportune times when betting big could cause you to lose more money than when you started.
    • The ideal strategy is to bet big at the start and gradually reduce your bets as you go along.
  • Ranking
    • Your winnings are compared against other players in the leaderboard.
    • To see your place in the in-game leaderboard you must type in your name first.
• Target Audience
  • The game is suited for players who like place your bets games.
    • Players place bets using in-game credits, but only use play money.
  • Other than the above the game has no adult themed content.

A Lesson in Risk Management g10r

The game is a simplified demonstration of risk versus rewards. In the game, the higher the stakes, the greater the risk. If you bet a lot early on and lose, you could stand to lose more than what you started. Alternately, you could bet just a little, but a gain more (and lose less) than if you kept betting big.

A similar situation applies in real life. For instance, you earn more money saving and investing (low to middling risk) than you do with gambling (high risk). Real life is, of course, a bit more complicated, but the lesson stands.

Note that in the game, you can win absolutely nothing (no reward) by betting nothing (no risk). Everything in life, even secure savings s, have risks. It’s unrealistic to think that you should avoid risks all the time. Picking lower risks, however, helps you increase the chances of getting rewarded for it.

The second lesson of the game is to the old poker phrase “know when to fold ’em.” In poker, if you think you’re not going to win, you quit the game. If you keep betting hoping to recoup your losses, you’ll lose even more money. This is called the sunk-cost fallacy and it can be very a dangerous trap to fall into. Fortunately, our game has the built-in stopper; you can’t bet more than 10 times. You can bet all you want, but if you reach that limit, you must stop.

As we’ve explained earlier, it also applies when you bet big and win. Even if you win big once, you could lose that money again if you make the same risky bet again. Reduce your risks as you play doesn’t just increase your winnings. It also helps reduce your losses.

Of course, you can hop on over to our gambling games and experience the thrill of gambling without wasting any real money.

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