While recreational gamblers don’t pay much attention to house edge, seasoned pros take it seriously. If you fall into the first category, you may not have considered whether there’s an advantage to betting in a casino over placing a bet with a bookmaker. But don’t panic – in this article we explore exactly that. Keep reading for everything you need to know about casino odds.
What is House Edge?
Let’s start with the basics – what actually is a house edge? The house edge is a phrase used to describe the mathematical advantage that the game has over the player. This advantage is calculated over time, so the actual advantage of each individual game may vary slightly. The advantage results in an assured percentage return to the casino over time and for the player an assured percentage loss of the money you bet.
The House Edge helps the casino or bookmaker to cover its costs of providing the game or service, maintaining the cost of the venue and paying for staff. It also helps the provider as a commercial business to turn over a profit. Any profit that the provider makes from gambling comes from the money players pay into the game, whether that’s a table game, slot machine, or sports bet.
How does it work?
The way a betting game works varies depending on whether you’re betting in a casino or bookmakers. The outcome of a slot machine is determined by something called a Random Number Generator. This is a tiny computer programmed to select a random combination of symbols when you hit the spin button. When the game is switched on, the RNG starts spitting out random combinations of numbers before stopping on one when the spin button is pressed. The combination the RNG stops on determines whether or not you have won. This ensures that the results are totally random, keeping the slot fair for both the casino and the player. Of course, the RNG is programmed so that there will be more losses than wins, giving the casino or provider an edge over the player. The average house edge on a slot machine is 4%, meaning that the average return to player is 96%.
Difference between house edge in a casino vs bookmakers
There are many similarities between casino betting and sports betting; however, there is one key difference. Most casino games are totally random, while sports bets are based on statistics. This makes it easier to increase your odds of winning. With sports betting, doing prior research can drastically decrease the casino odds and make it easier for you to win. For instance, if a big football game is coming up, spending time looking into each team and the players can give you an advantage when it comes to placing your bet. Knowing how they have performed under similar conditions in the past will help you to place a winning bet – or at least increase your chances of doing so.
Which casino game has the best odds?
As we mentioned earlier, the casino odds vary between games. So, which game has the best odds in casino? The game with the best casino odds is Blackjack, with a house edge of just 1 per cent in most venues. Blackjack is also a great game for newbies because there’s not much you can do to increase the casino odds. Regardless of whether you’re a seasoned gambler or a total novice, the edge will be pretty much the same. Plus, as you’re only playing against the dealer, you don’t need to worry about your opponents being more experienced than you. Below, we explore games with the best casino odds in more detail.
When looking into casino odds, roulette is another game with a low house edge. Unlike blackjack, the house edge of roulette goes up or down depending on the style of game you’re playing. For instance, American roulette typically provides the worst returns over time. French and European roulette usually offer a much lower house edge. Seasoned gamblers also use strategies to try and increase their odds of winning.
As we mentioned earlier, Blackjack has a very low house edge. You can now find several variations of the game, both online and in brick and mortar casinos. In the past, you could only get the thrill of live gambling from a physical casino. Thankfully, that’s no longer the case. Live casinos are now a popular way to bridge the gap between online and brick and mortar gambling. The games are run by live dealers and streamed via a webcam straight to your phone or desktop. As well as watching the game in real-time, live casinos allow you to speak to the dealer about any questions or concerns you have.
Of course, to keep the house edge at 1% you need to understand how to play the game. While you don’t need to be experienced, understanding how to win will ensure you keep the house edge low and don’t give the casino an advantage. If you have absolutely no clue about the game, the house edge would probably increase a little – unless luck is firmly on your side!
So, there you have it – casino odds vs sports betting odds: everything you need to know. Want to try out casino games for yourself? At NetBet, we have a wide selection of slots, blackjack and roulette games for you to enjoy. We also have plenty of sports betting odds for all you sports fanatics out there.