By Mitch Rice
Without knowing the house edge of a game in a particular casino, it will be difficult to understand the nature and estimation of your loss. It compares your winnings and losses to help you understand whether or not you should delve into playing that game.
For a beginner, looking to understand what a casino house edge is, all you need to know is that for every loss a player suffers in a casino, the casino takes its stake, and for every win, the casino would have to pay out from their stake too.
What is a House Edge?
House Edge is a set of data that has been processed to reveal the average advantage a casino has over its players in any game of chance. The data is collated over the lifespan of each game to determine the average payout and return. This information allows players to determine which game has the best return and payout.
Not every game has house edges. Some are quite unpredictable, and the house edge calculation wouldn’t do justice to their odds. While you may find some casinos still providing some information on house edge for these games, the information isn’t correct. One of these games is the game of poker. Other classic casino games like blackjack, roulette, baccarat, and slots are traditionally known to have house edge advantages.
The higher the house edge, the lower the money you are getting out of your bet in other simple languages. Also, the house edge isn’t fixed for all games. It varies from casino to casino and from game to game. One example of a casino in Dubai that may offer a different house edge for the game than another in Los Angeles.
Return to Player Percentage and House Edge
In contrast to the house edge, but equally important, is the return to a player percentage calculated as a hundred percent. Unlike the house edge, the higher the return to player percentage, the more money the player has and the less you lose the game. Reducing the complexity of the payer percentage to a simple betting context, the house edge is the calculated average that the casino is expected to make off your wagers.
For instance, if blackjack were played in a casino a hundred times with the total sum staked at $100 million, with a 5% house edge, $5 million has been earned by the casino, while $95 million has gone to players. This information gives a casino a level of credibility. The 95% earned over the period is the return to player percentage, while the 5% is the house edge.
Using the House Edge to Your Advantage
The entire reason why casinos show their house edge for games is to give players a clue as to possible winning and losing outcomes without getting their dealers to explain these for every game. Therefore, you need to choose a game with a lower house edge. It means that the lower the house edge, the better the game, except for some games that a player may be particularly biased towards regardless of the house edge.
While it is common to find some casinos with very fixed house edges per game, some games have very flexible house edges affected by your strategy. This means that if you are well-skilled in a particular game, the house edge may tilt in your favor.
Blackjack is one of these games that comes with quite flexible house edges. Don’t get confused by the tricks casinos play with figures. Stick to only games with a lower house edge and a higher return to the player percentage as explained above, and you will be just fine.
It is impossible to give an exhaustive list of the casino’s house edge, but a good average highlight may do justice. We will be limiting these average house edge highlights to just slots, blackjack, and roulette. Most casinos offer a house edge of three to seven percent on their slot machines on average. Some sweet bonanza machines may even have a house edge as low as 3%. Incredible online casinos, like the JustSpin Casino are in the frontline of this.
This average house edge range is similar to that of roulette, where most variants have a house edge of three to seven percent. Blackjack may have a house edge of less than 1% depending on your strategy, and an unskilled strategy may expose you to as much as 5% of the house edge. However, online casinos have impressive house edges that beat some of the land-based casinos.