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So, you’ve been playing casino games for awhile now and despite your relative success playing there is a term that you hear used all the time and you still don’t understand what the heck it means, “The house edge”. You hear about it all the time, but what does it have to do with? This is a term that many people hear and even use but if you ask them to define it they are suddenly at a loss for words. If you play in a casino or with an online casino you should absolutely know what the house edge is, as it can help you choose games more wisely. When you know the house edge of specific games you may be able to choose the variants that will favor you more. Now, that you have an idea of what the house edge is you probably want to understand the house edge in the different casino games so that you can tell which casinos are really giving you a bonus and how the wagering requirements or play through requirements affect your bonus.
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The House Edge Defined
The house edge is basically the built in profit that the casino gets every time you play a game. Many people talk about how casinos cheat you or extract money from you in sneaky ways, but this isn’t true. As soon as you place your bet the casino has made their money because they build their profit right into the odds of the game. The house edge is also called the casino advantage, but the two words are synonymous with what the casino makes.
The way this works is simple. Every bet that you make has a chance of you winning or losing. For instance, you could bet on a coin toss and the odds are 50/50 and in this type of bet you are betting on true odds, but in the casino you may be paid 95 cents on every dollar, therefore the house edge would be 2%. To put it another way, the house edge or casino advantage is the difference between the true odds of any given bet and the odds that the casino will pay you when you win. When you play in the casino you accept the fact that there is a house edge with just about every game.
There are actually house edge charts out there that will allow you to see at a glimpse what the casino advantage is with any given game. These charts can be kept with you when you are playing so you can see what your odds are. Of course, most of the information that you will see on these charts assumes that you have the knowledge and the skills that you need to play the game as well as possible. If you don’t know how to play the game the edge won’t really matter all that much because you’ll be more likely to lose it all!
Tags: casino odds, house edge
