Casino Odds and The House Edge
When you play at any casino, it's important to be aware of the odds of a game, and the house edge. Below, we explain what this means so you can play with confidence.
In this guide, we’ll consider the odds on various games that you’ll find at any casino, such as keno and slots. There are a few basics to remember concerning your chances of winning.
The first thing to remember is that the larger the payout on a bet, the less likely your chances are of winning that wager.
Also, the higher the house edge, the lower your chances are of making cash on your wager. Playing low odds bets on games that have small house edges will always give you a better chance of making cash.
What is The House Edge?
Defining the house edge is fairly simple, think of it as the casino advantage. All house edges are concerned with your initial bet. It is the ratio of the average loss to the initial amount wagered. It is not concerned with the total amount of cash wagered on one bet.
The house edge – or casino advantage – will tell you the frequency a game pays out, and which games offer players the best returns on their bets. Note, the house edge exists within every casino, for every table or slot game.
It’s due to the fact that often when a player is able to increase their bet, as may occur in blackjack and other games, they do so because they have a better chance of winning.
You And The Edge
The first thing to consider when playing a casino game is how the edge will affect your bankroll. As an example, if you are about to play blackjack using six decks of cards, you know that the edge is 0.6%. That means for every $10.00 wagered, you will lose on average $0.06. Knowing what your average loss might help you determine how to use your bankroll effectively, as well as when you should walk away from the gaming table.
One thing to always keep in mind, the house edge is an average. Use it to keep perspective on your bankroll whether it is up or down. In actual playing situations, you could lose four straight hands of blackjack, win two, lose one and win six.
At that point, you would be a little ahead of the game. The house edge, in essence, tells you how much risk you are taking. Utilize the chart provided on this page to find the house edge for various games.
Best Odds and Low Edge Games
There are many casino games that are noted for having a low house edge, particularly online slots. These are often the most popular games. Other casino games that offer a low house edge include:
This game has the lowest house edge. Single deck versions, which are hard to find, offer the house a 0.20% advantage, while one of the most common versions, eight-deck, has a 0.63% edge.
Certain craps wagers are noted for their low edges, with the Pass Plus 100x Odds offering players a minimal edge of 0.02%. The Pass/Come wager, which is the one most players take, comes in at 1.41%. It’s a very good bet to make.
Try to reach a total of nine points when playing Baccarat as this gives you three bets, two of which offer a low edge. You can wager on the Banker winning, the Player winning, or a draw. The Banker is the best bet at 1.17%. Betting on the Player also has a relatively low edge, which is 1.36%.
Features a low to moderate edge. It comes in at 2.70%. Other games that you’ll find at casinos that offer moderate edges include Three Card Poker- Pair Plus (2.32%), Pai Gow Poker (2.50%), Red Dog (2.69%), and Double Down Stud (2.67%).
Three Card Poker
Ante and Play is a good choice with a house advantage of 1.46%. Also, if you can find no zero roulette, which is only offered online, play it. The house edge is 0.00%!
Long Odds and High Edge Games
If you like to play keno, which is similar to being involved in a live lottery draw, then you are engaged in the casino game that carries the biggest house edge. The advantage of the house in keno is anywhere from 25% to 29%. What determines the specific edge is how many numbers from which you have to choose and how many you need to pick correctly to win. The more you have to pick from and the more you must get right, the harder it is for a player to win.
Big Six is hard to cash in on, as the edge starts at 11.11% and goes up to 24.7%. When playing craps stay away from the Proposition Seven wager. The edge stands at 16.67%, and in order to win it, you must bet that on the next roll of the dice a seven will come up.
Anytime you can bet on a draw, you are wasting your cash. Other bad bets include side or bonus wagers. These offer great odds, such as the tie in baccarat that can be as high a 9-1, but they rarely hit and can gobble up your bankroll quickly. Play them at your own risk.
If you’re playing at a brick-and-mortar casino, slot machines tend to be a very bad proposition. Although many online slots offer low edges, those slots at brick-and-mortar casinos are much higher, with some ranging above 10%.
The least desirable roulette variation is American. That’s because this version has both a zero and a double zero. That second zero doubles the house advantage over European roulette, bringing it in at 5.26%. Play European or no zero roulette if at all possible.
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