When you place a bet on a casino game, do you consider the probabilities of you winning? It’s possible you’ve run loads of scenarios in your mind, thinking about the amount of cash that’s up for grabs. However high your odds of winning are, did you know that the casino itself has an advantage of its own via the bets you place? This is referred to as the house edge.
Like any other business, casinos have found a way to increase their revenue potential, raking in earnings from gamblers’ bets. Suffice to say, though, that there is a way to play and win big in casino games without falling prey to the house edge. Understanding the house edge is key to an enjoyable casino experience, ensuring that you come out a winner.
What is the house edge?
Casinos, and their games, have a mathematical advantage over players as they continue to play over a certain amount of time. This assures that the gambling venue gets a certain return over time in accordance to a certain amount of losses on what gamblers bet. Essentially, the house edge maintains a profit for the casino as a business, covering costs of staff and operating the games.
On average, it’s estimated that 10% of bets made are returned back to the casino. There might be variations on the percentages depending on games and machines, but the averages are fairly consistent throughout all casinos. Below, we take a closer look at the subtle variations that should be noted in order to maximize your winning potential.
What must gamblers know about the house edge?
Understanding the House Edge is key in placing intelligent bets and learning how to win, all while the casino manages to make some money. This might sound like a tricky dynamic to achieve, but it is possible. Choosing the right games and betting wisely will ensure you win and help you avoid any situation that might lead to an unfortunate losing streak:
1. Choose the right games.
First and foremost, any avid gamer should have the capability of recognizing the difference between a potentially lucrative game and one that chases losses. Typically, casinos host certain games with a significant advantage on the house, which means gamblers’ chances of winning are less than stellar. Games such as Baccarat, Craps and Keno tend to have house advantages of up to 29%, which is enough to decide on avoiding them altogether. Blackjack and Poker have less of a house edge and might be better choices if you’re looking to make some money.
2. Bet wisely.
As important as it might be to choose the right game, it is as equally crucial to place the right bet. The winnings for some games might be attractive, but the odds are usually not in the player’s favor, meaning it’s simply best to avoid them. Some of the worst casino bets you can make include the Insurance Bet in Blackjack, Prop Bets in Craps and Baccarat Tie Bet. The house edge on all of these bets is significantly higher than most other casino bets, with players losing money more often than not. Also, have a look out for no deposit bookmakers, which give you an opportunity to win without having to bet to begin with!
Armed with this knowledge, you can learn to play wisely and truly have an enjoyable casino experience. The house might have an advantage of its own, but there are many ways of avoiding massive losses and giving yourself the best shot at making money.