What is a Casino House Edge?

Casino House Edge

Casino house-edge is the statistical advantage that casinos have over their players. The difference between the theoretical return to player and 100% is known as the house-edge. Knowing the house-edge on your favourite casino games can help you to better understand your favourite online casino games.

Casino House Edge Explained

The House Edge is a term that refers to the mathematical advantage that the gambling game, and thus the commercial gambling venue, has over you over time while you play. This advantage guarantees the venue a certain percentage return over time while guaranteeing you a certain percentage loss on your wager.

As a commercial operation, the House Edge helps the gambling provider cover its costs of supplying the game, paying the personnel, maintaining the casino or club, and so on. It also aids in the profitability of the company. The money gamblers put into the game, whether it's a poker machine, Keno, Blackjack, or another game, is how the business gets money from gambling.

What is the mechanism behind it? A Random Number Generator is a mechanism found in slot machines. When you hit the button, it's actually a computer that's programmed to select random symbol combinations. There are 52,521,875 possible stop combinations on a slot machine with five reels and thirty-five possible stops on each reel. The Random Number Generator is set up in such a way that there will be more loses (bad symbol pairings) than victories.

A roulette wheel is a simple way to think about it. There are 36 numbers including the green zero on a single zero roulette wheel. The ball can stop on any of the 36 digits or the zero when the wheel is spinning, for a total of 37 possible stops. As a result, the mathematical probability of you selecting one of those options is 1 in 37. However, the house pays out at a 35 to 1 ratio. As a result, the house will gain a 2.7 per cent house edge over time.

House Edge of Popular Casino Games

Listed below are some of the average house edge statistics for popular casino games, however, there are some elements which can cause these percentages to be different from the norm at certain casinos. 

  • Software Used: Different casino developers may have their own RNG technology. This doesn’t cause much of a statistical variance, only around 0.05%, but when games are played over a long time this can make quite the difference.
  • Variant: One of the best things about both online and brick-and-mortar casinos is the variety of games on offer. However, with more variety comes increased variance in the house edge offered. Some casino variants, for example, have been designed to be challenging to players but enticing with huge potential payouts, but will come with the drawback of having a greater house-edge. 
  • Your Wager: One some casino games the amount you wager will alter the prospective house-edge you face. This is why it’s always important to do your research before choosing the game you’d like to play. 

The average house-edge statistics for casino games are as follows:

  • European Roulette: 2.7%

  • Blackjack: 0.50%

  • Baccarat: 1.06%-14.36%

  • Online Slots: 2%-12%

  • Video Poker: 0.5%-5%

Why Understanding House-Edge is Important

The outcome of all casino games still remains on luck, but it can be advantageous to you as a player to understand how a casino house edge works and help minimize losses from spending more than you can afford to lose.

Because the house edge is one of the factors that determine your average loss, it's vital to understand. But it's only one of several options. The house boundary is frequently misunderstood as the be-all and end-all. It's not the case. Your average loss is determined by a number of factors:

  • Typical bet size

  • Playing time (rounds per hour)

  • Total number of hours spent playing

  • Edge of the house

The formula for calculating average loss is as follows:

Amount bet per round multiplied by the house edge multiplied by the number of rounds.

Play Online Casino at LordPing

Of course, at the end of the day, all casino games are ruled by chance, but as a player, it is advantageous to stay informed even on details often glossed over such as the casino house edge. Visit LordPing today to play casino games that are a cut above the rest.

Recommended

Ebanie.png

Ebanie Bridges Opinions

Ebanie Bridges talks exclusively to Lord Ping

Read More
Hatton.png

Ricky Hatton Opinions

Former boxing world champion and Man City fan Ricky Hatton talks exclusively to Lord Ping

Read More
how to play deal or no deal live banner

Live Casino Strategy Guide: How to Play Deal or No Deal Live

Beat the Banker with Lord Ping’s Deal or No Deal Live Casino Strategy Guide 18 + | Play Responsibly

Read More
V: 1.24.0 All rights reserved. August 2021
top
|