Casino Guides: The House Edge
Regarding Australian online casinos, one thing is absolute: they are designed to make a profit. The gaming company always gains more than the player, whatever game you play – remember this vital fact. This in-built benefit is referred to as the house edge and is present in every game you can discover on the site.
That said, you can take a closer look at how the house edge works and start making better decisions to reduce losses. This guide at bonzercasinos.com will help give you a basic rundown of what this factor is, how it affects your gameplay, and how you can make the most of your casino experience.
What Is the House Edge?
The house edge fundamentally is the mathematical advantage the casino has over players. It guarantees that the gaming site stays profitable — over time — more often than not, which keeps the company’s bottom line healthy. For instance, if a game has a house edge of 2%, the gaming venue will make an average profit of AU$2 for every AU$100 spent by Aussie players. It just can’t stay in the negative.
It’s crucial to understand that this factor applies in the long run – individual experiences can vary greatly from this average. Sure, you may hit the casino for some big wins on one fine night, but after thousands of bets, the house edge will always work, saving the casino from losses.
Why Does the House Edge Matter?
House edge is important, as this factor describes the profit of the casino from each particular game. The difference between the two can be stated by saying that for instance, European roulette has a house edge of 2.7% while the American version (due to the additional double zero sector) lays host to an edge of 5.26%. These differences may seem minor but may have a huge impact on your overall experience. It will also help you make smart game selections that allow you to leave the table a winner or at least lose as little as possible.
Variance: The Wild Card in Casino Games
Variance refers to the result fluctuations that occur in the short term. Variance is what allows players to experience streaks of wins and losses that deviate from the statistical average. Imagine you’re playing a game of craps, and you roll the dice 100 times. You may expect to see each number (from 1 to 6) about 16 or 17 times, but in reality, some numbers may show up more frequently, while others appear less often. This deviation from the average is known as variance.
Why Variance Matters
Variance is what makes casino gaming exciting, as it creates unpredictability in the short term. While the casino will always win over time due to the house edge, variance allows gamblers to enjoy hot streaks where they may win more than they lose, and conversely, cold streaks where they might lose everything. Understanding variance can help players manage their bankrolls more effectively and make better decisions about how long to play and when to quit.
How to Calculate the House Edge
The advantage isn’t hidden – licensed casinos are required to disclose it. If you’re playing pokie machines, you can usually find the Return to Player percentage posted somewhere on the game’s icon or in the instructions. The RTP is essentially the inverse of the house edge. If a pokie has an RTP of 97%, the advantage is 3% (100% minus the RTP). This means the gaming venue expects to keep 3% of all the money spent on that game over time.
For land-based table games, you can often ask a dealer or staff member for a brochure that outlines the odds and house advantage. Online gambling sites make this even easier by listing the RTP or house edge in the game’s rules or on the site’s help page. Always make sure you know this factor before you start playing, as this can affect your chances of success.
Can You Beat the House Edge?
While the house edge is designed to ensure the casino profits in the long run, there are ways to minimize the impact. Skill-based games like blackjack and poker offer gamblers the chance to reduce the house edge through strategy. For example, in blackjack, utilizing a basic tactic can lower the advantage to as little as 0.5%, depending on the rules of the game. Games with a low casino advantage give players a better shot at winning, especially when played with optimal strategy.
You Might Also Want to Know Casino Guides: Roulette Strategies
Choosing the Right Games
One of the best ways to lower the house edge is to choose games with the lowest possible advantage for the casino. Take a look at some sought-after games and their typical house edges:
- Blackjack: As low as 0.5% with the basic tactic;
- Baccarat: 1.06%;
- European Roulette: 2.7%;
- American Roulette: 5.26%;
- Craps (Pass Line bet): 1.41%;
- Video Poker (Jacks or Better): 0.46%;
- Pokies: Varies, but typically between 2 and 10%.
By sticking to games with lower house edges, you improve your chances of getting a win, especially if you combine this with a good understanding of the game and a solid tactic.
Caleb WhiteCasino Expert | Caleb White is the author who will tell you how to choose a safe gaming site.