The Best Casino Game Odds
Whether you play at the best online casinos or at a traditional brick-and-mortar establishment, there's no doubt that gambling and is a wonderful form of entertainment which can be super fun. However, if you don't quite understand the basics of casino game odds, it can also be very expensive fun.
So, what type of gambler are you? Does your bankroll burn a hole in your pocket as you mindlessly throw your cash into the jaws of a starving slot machine or at the manicured hands of a smiling croupier; or do you very carefully weigh up all the casino game odds before gingerly placing a full half dollar on black or red? Ideally you should be somewhere in between. Gambling, after all is partly about the thrill of the risk, but it can be a calculated risk - and that's why all the most successful players know the casino game odds and the house edge of every game before they place a bet.
What Is The House Edge?
Like any business, the best online casinos need to turnover a profit and the house edge or the house advantage is a way of ensuring that they financially come out on top in the long term. The casino calculates the house advantage using statistical calculations which are expressed as a percentage and work out the casino game odds from this.
The return to player (RTP) is how much the player can expect to win over a period of time. For example, if the RTP is 95% it typically means the gambler can expect a return of $95 for every $100 bet over a certain time frame. This figure is calculated by probability, or in the case of slot machines by a random number generator (RNG) which is a mathematical technique used by all the best online casinos.
Calculating Casino Game Odds
Many of the best online casinos have a list of all their casino game odds displayed on their website so you don't have to waste valuable gambling time working them out yourself. But if you've ever wondered how the house edge is calculated the following example will explain it quite simply. So, let's take a look at the game of Roulette.
European roulette has 37 pockets - the numbers 1 to 36 plus a 0 (zero) pocket. If you place a bet on a number your chances of winning should be 1/37 but even the best online casinos give a return of just 1/36 meaning they have an advantage of 1 unit. If you divide this 1 by 37 and multiply by 100 (1/37 x 100) you get a 2.7% house advantage or a 97.2% RTP.
The table games at all the best online casinos have far better casino game odds than slots, but if you play for long enough you'll eventually lose as even the games with the best odds favour the casino. Make sure you know the basics of each game before betting seriously. Learn about the different variations of each game and how they can change the casino game odds.
For example, Blackjack can be played with 1 to 8 decks, in Baccarat you can bet on player banker or tie, Roulette can be played with a single or double zero, and basic poker strategy is needed for all Poker table games. Here's a handy breakdown of casino game odds some of the best online casinos are offering:
Unlike slots, Video Poker is a game of skill and you need to know all the winning hands before you embark on a session. The best online casinos have a choice of poker variants with each version having slightly different casino game odds. Although it may vary from casino to casino, the average house edge usually comes in at less than 1%, with Deuces Wild and Bonus Poker giving some the best odds to the player. The payouts are usually displayed on the machine so if you're playing Jacks or Better makes sure a Full House gives you a 9/1 return and a Flush a 6/1 return.
Playing slots is truly a game of chance and the average house edge can range from 3% to 10%, giving the casino a huge house advantage. This is to offset the high RTP payable in table games and because some slot jackpots are worth millions of dollars, and this money is usually a percentage of the player's stake. The best online casinos have their slots RTP stats published on their website so you can check the average return of your favourite game. Despite the the possibility of a low RTP, slots are still one of the most exciting games to play and as each spin is random, you'd never know but your next spin could yield a life-changing jackpot - no matter what the casino game odds are.