What is a Good House Edge?
The house edge describes the mathematical advantage a gambling game has holds over you. With this advantage, the casino has a guaranteed percentage return over time. And you have a guaranteed percentage loss over time.
Gambling providers use the house edge to cover the costs of providing their games like paying their staff, maintaining the club, etc. As a result, they make money. Gambling profits are made from the money gamblers put into the games, whether a slot machine, keno, blackjack etc.
How Do Players Lose More Than They Expect?
The house edge is still a mystery to many people, even those who are aware of it. Since the house has a 5% edge at the roulette table, Players might think they can reasonably expect to lose around £5 if they sit down and gamble for a few hours with £100.
It’s important to understand that the house advantage only applies to the total amount wagered, not their starting bankroll. For example, if you bet £5 on every spin of the roulette wheel, and the wheel rotates 50 times an hour. Regardless of whether you win or lose some bets, they place a wager of £250 per hour.
At the end of four hours of play, if the house advantage plays out perfectly, you will lose £50, or 5% of £1,000, which is ten times more than what you expect because you might have misunderstood the house edge. Roulette wheels with a 00 slot have a 5.26% house advantage.
The casino management expects to pocket slightly more than £50,000 for every £1 million wagered at a roulette table. Bettor’s money is returned to them by £950,000. The casino doesn’t want to bankrupt a player in one go. However, it just wants to reduce the money you come in with, leaving the casino with money.
Using Your House Edge
As a player, you can use the house advantage as a guide for determining which games are the most profitable. Games with a high house advantage will reduce their average payout over time compared to games with a lower house edge.
You can avoid getting scammed by games that provide the casino with a massive advantage over you by using readily available information.
Why Does the House Always Win?
There is one certainty in gambling: The house always comes out on top. Unlike a charity that gives away free money, a casino is a business. A business has a business model to ensure its profitability, just as any other business does.
Games with the Best House Edge
|Double Exposure Blackjack||0.69%|
|Jacks or Better Video Poker||0.46%|
|Let it Ride||3.51%|
|Super Fun 21||0.94%|
|Vegas Strip Blackjack||0.35%|
How to Improve Your Odds
You need to be aware that the posted house advantage is not always accurate when comparing casino games. Not all bets in a game have the same house advantage, so sticking with the most favourable ones will increase your odds.
The player win has a 1.24% house edge, and the banker win has a 1.06% house edge. The casino will have an extremely small edge if you always bet on the banker.