If you have ever wondered how casinos make their profit, here you have everything about casino house edge explained. This guide is also useful for players who want to turn gambling into their source of income. We will tell you what the house edge is and how it works, as well as show the best ways to beat it at online gambling sites or land-based casinos.
About the house edge
So, what is the house edge? In gambling, this term is used to describe the built-in advantage of a casino in each and every one of its games. It is a mathematically grounded advantage that casinos have over their players over a long period of time. In the end, the house edge shows the estimated profit of casinos and the estimated loss of players’ bets.
An important thing to remember about casino house edge is that it works for long-term bets. Surely, if you play with a small amount just once, you will either lose the money or win more than your bet was. The point of the house edge is to figure out what the average casino’s profit and the player’s loss over a long period of time is. So, if you are planning to play gambling games on a permanent basis, you need to have a casino house edge explained.
Casino house edge explained with examples
Let’s take a closer look at the house edge on the example of two variations of roulette: American and European.
In American roulette, the house edge is a bit more than 5%. What does it mean? If we consider every $100 you bet in roulette, the casino keeps $5 as profit and returns $95 to you in the form of winnings. So, the casino always keeps some profit, even when the player makes a win-win bet. Also, the higher the house edge, the more money the casino keeps as profit.
Another example is European roulette. Its wheel has 37 sections instead of 38 in the American version. It means that the ball can fall into any section, from 0 to 36. It could also make your winning odds 1 in 37, however, the maximum casino payouts are 35 to 1. It means that casinos always have some profit, even when the house edge – in the case of European roulette it’s 2.7% – is quite low and looks like a win-win option in comparison to American roulette.
How to beat the casino house edge – best tips
It looks like beating the casino is impossible for players, but this is not true. There are always pitfalls in any system. Experienced casino players have already discovered the weakest spots of online casinos and land-based casinos as well. So, what should you do to go against the odds and beat the dealer?
Tip 1 – watch your bets. As casinos are designed to make money even on lucky players, you should always place bets smartly. Remember about the house edge that always takes money even from winners, to say nothing about unlucky players. So, the more you bet, the more money you will lose over a long distance.
Tip 2 – choose games with a low house edge. This tip may look obvious but it works. The lower the house edge, the fewer casinos take from your stakes. Blackjack, baccarat, craps, video poker, slots, and French roulette are some of the most popular casino games with the lowest house edges. Depending on the game and site, it varies from 5% to a record-low 0.5%!
Tip 3 – use bonuses. The latest online casino bonuses give an opportunity to play casino games for a longer period of time without paying for them. Surely, you pay at the beginning by making a deposit or making the necessary number of spins, but you’d do it anyway, right? Don’t miss a chance to use bonuses in your favor but be careful with its wagering requirements.
Tip 4 – don’t think about near-misses. Every single gambler has a period when he feels being so close to hitting the jackpot. However, this feeling is quite tricky and even dangerous. It encourages you to play more to reach the goal, but the reality can be different. You are more likely to lose more money than get back what you’ve spent. Therefore, you should only play with money you can afford to lose.
Tip 5 – try different strategies. You are not the only one who has ever wondered how to beat the house edge. Depending on the gambling game, there are various winning strategies and theories that can help you win. Take a look at them on the Internet if you are serious about winning money at online casinos. So, now you have everything about casino house edge explained. Good luck!
