What is House Edge?
Most players don’t know what the word combination house edge means. Players don’t know how to determine house edge and make useful conclusions based on this information. For this reason, in this article we will cover this issue. After reading this article, you will be able to choose a casino or a slot more rationally.
There are several definitions of house edge. In fact, this is a difference between a certain payout set by the casino and real chances to win at a certain slot or in a certain game. In other words, casino will always pay less than it is supposed to. Let’s consider this issue in more detail and take the game of roulette as an example.
European roulette has 37 numbers from 0 to 36. Note that if you bet $1 on any number, and this number wins, you will get only $35. However, the probability of such win is 1/36.
American roulette offers even less chances to win. It has 37 numbers, including two zeroes. If you bet $1 and your bet wins, you get just $35. In other words, if you bet $1 on all numbers, you will lose $2 a round at American roulette and $1 at European roulette.
This rule applies to bets on black/red, odd/even. Note that if zero falls out, all bets lose. This rule increases the casino’s profits.
However, this is not a fraud. Casino is a business, and all rules are set to make profits. Otherwise, casinos would not pay off.
Every game offers its rules and payouts. There is a category of games where you can enjoy minimum house edge if you make large bets. In some variations of video poker, players can change house edge. This requires investing lots of efforts, applying a certain strategy, and being reserved.
In blackjack, everything depends on your mathematical abilities. The faster and more accurate you count, the higher are your chances to win. Professional players can show wonderful results during in the long run. However, prestigious online casinos try to keep such players away at all costs.
House edge for every slot machine is given in its technical description. Manufacturing companies often set such parameters according to the casinos’ requirements. To be successful, you will have to use an efficient strategy and remain focused.
If you can’t decide what game to choose, read technical description of different slots, roulettes, etc. You may lose interest in this game after that. For example, Keno has a very high house edge amounting to 20% which is very unbeneficial for players. Choose European roulette instead of American one where there are two zero cells and lower chances of winning. Craps is a hard game in terms of determining house edge, because here everything depends on the type of bets.
Remember that if you are going to make stable and consistent winnings at the casino, you should learn about rules for and statistics on the game you have chosen.