Here’s why it’s important to know the house edge, which is the amount of money the casino expects to win from you over time when you play the games. The bigger the edge, the more they win. The smaller the casino advantage the longer your money may last. You are at risk for a quicker loss on any type of bet within a game that has a house edge of more than 2%.
Here is the house edge, AKA casino advantage, for some of the most popular gambling games in casinos today:
There are 38 numbered positions that players can wager on in a number of ways. Betting a single number and winning will net you a payoff of 35 to 1. Therefore the casino makes a 2 unit profit for each win. 2/38 = 5.26% advantage for the house. Your expected loss over time is $5.26 for every $100 wagered. on a single number.
Type of bet Edge
Pass Line 1.4%
Place 6, 8 1.5%
Any Seven (one roll wager) 14.36%
Bet Bank. 1.06%
Bet Player 1.24%
Bet Tie 14.38%
By far the best table game as long as the player uses correct basic strategy and the house offers favorable rules such as:
Blackjack pays 3 to 2
Dealer stands on soft seventeen
Double after splitting pairs
Double on any 2 cards
Look for these rules and you’ll enjoy a house edge of about 0.5%.
It’s worth noting that many casinos have switched to hitting soft 17. This increases the edge to 0.7% but it’s still a good game. Be aware of games that pay only 6 to 5 for a player blackjack instead of the customary 3 to 2. Simply put, a 3/2 game nets a player $15 for a $10 bet, whereas a 6/5 game only pays $12. That’s a -$3 loss for every blackjack! Not good. Unfortunately, the Vegas strip is converting to 6/5 games.
Two low edge blackjack variants are:
Spanish 21. 0.7%
Blackjack Switch 0.6%
Remember the infamous words of the carnival showman P.T. Barnum? ” There’s a sucker born every minute”. A number of games are dubbed carnival games because of a higher house edge than the traditional offerings of blackjack and baccarat. They are:
Texas Holdem Bonus 2.0%
Three Card Poker 2.3%
Ultimate Texas Holdem 2.5%
Four Card Poker 2.8%
Casino War 2.9%
Crazy 4 Poker 3.4%
Let it Ride 3.5%
Mississippi Stud Poker 4.9%
Caribbean Stud Poker 5.2%
Also, be mindful of the optional bonus or side bets at the tables. Most games have them, including those with a low edge.The winning payout amounts look very attractive and players can win even if the original wager is lost to the house. However the house edge jumps to double digits on most of these wagers.
When betting on sports games, the house takes a “vig”, slang for vigorish, when bettors make an even money wager. For example, …Read more