When you enter a casino for the very first time, there are several concepts that you come across. The casino house edge is one of them. While you can learn a game over time, you must understand the term casino house edge before playing. Why? Because it will help you avoid losses that you may incur if you are not aware of the term. Whether it is an online casino or an offline casino, every casino in the world has a house edge that the players must know about.
In this article, you will learn the casino house edge explained in simple terms.
House edge can be understood as an advantage the casino has over you. You must understand the basics first. If you are playing video slots, the casino has to fix a machine for it. Several people come to the casino and put in a coin or more. Say, if you get the jackpot, you can earn several times more than what you had put in.
Thus, one cannot get ahead in the long run in gambling. The house always rules. The moment you start becoming expensive to the casino, the house edge comes in. It is the advantage of the house.
It does not mean that every bet you lose fills the pockets of the casino. It is only a small amount of the losing bets that go to the casino. You can understand it as a convenience fee for operating the place. Besides, casinos are also businesses. They are run to make profits. The casino offers you fair chances of playing, and in the process, it makes money which is called the house edge.
The casino house edge gives you an estimate of how much you will lose over time. Every casino offers a different house edge for different games. In land-based casinos, there are pay schedules where you can learn about the house edge on a game. In live casinos, you can check the pay schedules of all the games displayed on your screen and then decide which game you want to play.
Say, if a slot machine says that the house edge is 4%, it means that if you bet $10 over time, you will lose 40 cents. So, you can understand that you will lose this much amount of money, but it is also theoretical. The house edge may be higher in some games, but the average wager lost is less than the house edge. So, it differs from game to game and casino to casino.
By understanding house edge, you can choose which games to play. If you are a new player, you will choose any slot machine or any online casino game, but you will see the pay schedule first if you are aware of the house edge. Say, if a three-reel slot machine’s RTP is 97%, it means that the house edge on the game is 3%. On the other hand, another game offers you an RTP of 99.83%. It is easy to choose now. You will certainly play the game with higher RTP. This way, you can stop losing money to the casino by playing the right game.
No. The casino house edge differs from casino to casino and game to game. An American Roulette has a house edge of 5.26%, while a European table has a 2.71% house edge. Online blackjack has a house edge of 0.5%-0.6%. Slots have a house edge varying between 2-15%. In the same way, video slots, baccarat, poker, etc., have different house edges.
But it does not mean that casinos can decide any house edge. There are rules to ensure that the casinos only receive their fair share.
House edge defines that you will lose a specified amount of money over time when you play a game. You can understand it with a formula.
Amount wagered per hour x casino house edge= Amount of loss every hour.
You can determine it before playing the game. It depends on your luck and strategy if you lose this amount or less than that. If you are earning for some time, the best strategy is to cash out your earnings before the house edge hits you. If you are playing a game that is purely based on your strategy, then you can earn despite the higher house edge. But it doesn’t mean that your strategy makes you invincible. Even the masters of the casino games lose, and eventually, the casino makes its profit. The actual game is not to beat the house edge but to make your money using the knowledge.
While playing roulette, the house edge is the same for every bet. In single-zero tables, the house edge is the least. In double zero, it is 5.26%. There are also three-zero expensive tables. Avoid them at every cost.
While playing Baccarat, Banker and Player bets are the best, with a little over 1% house edge. Tie bets have more than 14% house edge, and you must avoid playing it.
Similarly, in Craps, the house edge on inside bets is over 10%. In video poker, always play the maximum coins and earn a bonus round.
House edge is a concept that can increase your chances of earning more money. If you learn how to use it and which bets to avoid, you can save your money instead of placing expensive bets and playing expensive games.
Name: Casino House Edge- A Beginner’s Guide
Posted On: 28/10/2021
Author: Cameron Riddell