House Edge and Casino Games

What Is House Edge?

House edge refers to the percentage that casinos will reclaim from your losses over time. This house edge allows casinos to make a profit to reinvest back into their business to provide you with new and exciting games as well as contribute to the general running costs of the casino.

It might be disappointing to learn that no matter how well you play, the house edge will always be waiting to take a percentage of your wagers; take note that this is actually a very empowering thing to come to understand.

This is because it helps you keep sight of reality and prevents you from falling into the trap of gambler’s fallacy.

In other words, you know that you can’t win forever because eventually, the house edge will kick in to take your winnings. Then, you can make a plan to stop before it suddenly stops being fun anymore, and you’ve lost everything after riding high.

Different Games, Different Odds

Interestingly, you might notice that individual games have a broad range of house edges that typically relate to how skilled the game is.

For example, games of skill such as blackjack and poker typically carry a low house edge because the expertise of the player is a significant variable in how big the eventual win will be.

On the other hand, games of luck, such as Keno and Sick Bo, carry a much higher house edge as there are fewer variables to protect the casino from loss.

With this in mind, while games of chance are more exciting, you will quickly find yourself losing more money due to the house edge.

However, it pays to work at games of skill as you will typically retain more of your winnings as long as you can play skillfully enough.

House Edge and Table Games

So you’re probably wondering, with all this new information about house edge, which of your favourite table games should you play to ensure your win.

By far, the best table game to play is blackjack. It carries the lowest house edge at a tiny 0.5%. This is based on the assumption you play using perfect strategy. As a beginner blackjack player, the house edge will go up; you’re more likely to make mistakes to harm your chances of winning.

Another great table game that will offer you the best house edge is craps, which carries a house edge of 1.41% if you can identify the pass line wager. Otherwise, if you place a random wager, the house edge could shoot up as high as 11.11%

Likewise, if you play a perfect strategized game of either three-hand or Texas hold ‘em poker, you can expect a house edge of 3.37% and 2.36% respectively.

Aside from these two games, you will find that most other table games such as American roulette, Keno, and baccarat carry a house edge of between 5-40%. This is because they are games of chance and you can’t use skill to offset the house edge.

House Edge and Slot Games

As previously mentioned, some games you come across can never be influenced by skill, no matter how much you play them or think you can see a playing pattern.

Slot games are a key example of this phenomenon. As the majority of slot games are very simple, even going as far as to have an autoplay feature, it’s safe to assume that the odds are weighed against you.

Additionally, slot games don’t specifically have a house edge. Instead, they use what’s known as RTP, which stands for ‘return to player’. This helps you determine the percentage of your original wager that will be returned to you by the slot game over time. This can range from as low as 30% and as high as 98%.

So, even though you can never beat the game using skill or strategy, you can still make an informed decision about whether a slot game is worth your time based on the RTP.

If you really want to risk winning big on slot games, then you might want to consider progressive jackpot slots. These slot games offer you the additional chance to win a massive jackpot against other players, alongside the small wins you’d expect from regular slot games from matching paylines.

However, it should be stressed that you should only play this kind of slot if you are prepared to accept the high risk of solely attempting to obtain the jackpot. Otherwise, it is much wiser to stick to other slot games.

Calculating Slot Odds

So if there is no house edge or strategy to implement, how do you calculate which slots offer you the best odds? Well, it begins with good old fashioned research.

Firstly, take a look at all the slot games that your favorite casino offers and find out their RTP. As a well-informed player, you will want to aim for slot games with the highest RTP because it will net you the biggest possible win.

For example, a slot game with an RTP of 96% will only take 4% of your overall winnings. On the other hand, if you go for a slot game with an RTP of 50%, it will take half of your winnings. Therefore, a higher RTP is always safer because it guarantees that you will keep more of your money.

Next, identify the high RTP slot game with the most paylines. The more paylines, the more ways you have to win, which means more ways to maximize your earnings. Make sure you always play with the maximum amount with paylines because you are otherwise just limiting your chances by decreasing them.

Lastly, everyone likes perks, so make sure to look out for high RTP slots with bonus games. Slot games with bonus games offer you the most significant opportunity to make money. Pay special attention to slot games with bonuses like free spins as they provide you with an extra chance to win at no expense to you.

Always remember to play smart and do your research before trying a new game and watch your luck change in no time.