Why Every Gambler Should Be Aware Of The “House Edge” Factor
House Edge has been an integral part of brick-and-mortar casinos for a long time. Over the centuries. It has been refined to be as efficient as possible. It ensures that gaming establishments achieve long-term advantages over punters which is essential to run a casino profitably. Games like keno and slot machines offer a larger advantage for the house. However, the potential sizable payouts for these games ensure that punters come back for more. For slots, a 2% to 15% edge has not prevented them from generating the largest revenue in the casino industry globally. For games like craps and video poker, the house edge can be marginalized. While credible casinos on sites such as promoguy, offer a certain fairness and winning assurance, most non-licensed and unregulated casinos have shady policies.
How Does House Edge Work?
The house edge is basically a percentage of advantage that casinos have over their punters. It is not the ratio of the amount lost to a total wager but indicates average losses to an original bet. This allows punters to estimate expected losses during a gaming session or a single hand. If a punter places an initial wager of $100 on a game that has a 0.28% house edge, they could lose 28 cents. With a 3% house edge, that same wager would lose $3. Each minute, casinos are raking in 0.50% to 12% profits.
Do Casinos Cheat?
House edge is nothing but a defense mechanism that compensates for poor strategies and bad luck while gambling. Casinos do not cheat and earn profit. They have an advantage due to the payout odds and rules of the game. Some players might earn millions during a short period of time but can also end up losing more than they won. For some games, the house edge remains fixed, while for others, they vary based on the rules and deck sizes. Gamblers are of the opinion, that reading through policies, house edge details and wagering pointers is easier while they play online, rather than the land-based casino alternatives. While land-based casinos offer amazing themes, hospitality, and glamour, players are usually swayed into making nasty decisions amidst a high-adrenaline setting.
House Edge For Casino Games
- Baccarat: The house edge is 1.06% on banker betting and 1.24% for wagers on players. For a tie, the edge is 14.36%.
- Blackjack: With liberal Vegas rules, the house edge stands at 0.28% which includes late surrender, doubling after splitting, and doubling down on 2 cards.
- Casino War: House edge is 2.88% during a tie. For a surrender on a tie, the edge is 3.70% and for a bet on a tie, it is 18.65%.
- Craps: Pass/come offers a house edge of 1.41%, and hard hops offer 13.89%.
- Keno: House edge ranges between 25-29%. However, there are possibilities for large payouts.
- Pai Gow: House edge for this Asian Domino game is 1.50% whereas the card game version has a 1.46% edge.
- Sic Bo: House edge ranges between 2.78-33.33%.
- Roulette: The house edge on the European version is 2.70% whereas it is 5.26% for the American version.
- Spanish 21: When the dealer hits a soft 17, the house edge is 0.76% whereas when he stands on a soft 17, the edge is 0.40%.
- Slots: House edge ranges from 2% to 25%.
In a Nutshell
Most online casinos list their Return to Player or RTP value in the game information. This percentage depicts a theoretical return made to punters over the long run. For instance, if an online slot offers an RTR of 95%, that means that there is a chance that the casino will pay back $95 for every $100 wagered. Thus, it is important to always go through the RTP information in order to incur the lowest house edge possible.
