Casino games are games of luck, but every casino game has built-in odds. These may seem like two opposing facts, but it’s actually the basis of how every casino works (land-based, or online). That’s why understanding those casino game odds is so important.
The good news is that you don’t need to be able to do big calculations in your head at wicked-fast speeds. You don’t need to be Rain Man to start understanding how casino game odds impact your bet strategy. Instead, all you need is this beginner’s strategy guide.
The House Edge
The first casino game odds that you need to understand is the house edge. The house edge is how casinos essentially guarantee they will, on the whole, be able to operate with a profit in the long-term.
The house edge also tends to change depending on where you’re playing. Land-based casinos typically have higher overheads and, therefore, need more revenue to remain operational and profitable. Online casinos like www.lonkerokasino.com/fi/casino, on the other hand, have lower overheads and therefore offer a narrower house edge.
How House Edge Works
House edge essentially means that your chances when playing any casino-based game are slightly worse than the odds the casino pays out.
For example, in American Roulette, the wheel has 38 spaces. If you bet on any one number, the true odds are always going to be 37 to 1, meaning you have 37 ways to lose, and 1 way to win. The odds that the casino pay out on, however, are 35 to 1, meaning the house edge (and this is the average across casinos) is 5.26%. For every $1 million spent betting at the roulette wheel, for example, the casino itself can expect to keep around $50,000 of it, while paying out the remaining $950,000 to players.
House Edge Varies from Game to Game
Some games have a higher house edge, and others offer a lower one, but every game is slightly skewed to pay out a small share of the winnings to the house. While having fun and enjoying yourself is always the number one priority, you can skew chance slightly more in your favor by choosing some games over others. For example, slots often come with some of the highest house edges in any game.
Land-Based vs Online Casino Odds
House edge is designed to keep casinos operational and profitable. This means that a luxury casino with higher overheads and perks will demand a slightly higher house edge than an online casino, which doesn’t need to worry about rent or utilities. If you’re after the best odds, then you may find that an online casino is the right place for you.
What to Remember When Playing the Odds
Every game has its own odds or probability of winning. These odds vary depending on how rare it is to win. If you want to “play the odds”, the first step is to understand the odds of the game you’re playing, which can usually be calculated, and use that to determine how much you bet, and how many bets you place. Just remember to make and stick to a budget to keep playing responsibly.
