After the Las Vegas Raiders home loss to the Los Angeles Chargers in the NFL a few days ago,there’s a rather unfair meme going around social media which states that Allegiant Stadium, home of the Raiders is:
“The only place in Vegas where the house loses…”
And while the sentiment may be a little unkind to John Gruden’s team, there is more than a grain of truth to it. That’s because to understand why every casino in Vegas tends to come out a winner you need to have an understanding of a crucial concept, the House Edge.
What is the House Edge?
If you don’t know what the house edge is, then you are already at a slight disadvantage when it comes to playing at an online casino. In its simplest terms, the term refers simply to the chances that the house has of winning a spin, hand or turn against you, than you do of winning against the house.
Yet from such a relatively simple definition, there are a whole host of things to remember about the house edge when playing at a casino. These can be summarized as follows:
- Every casino game and bet has a ‘built in’ house edge that favours the casino.
- The house edge differs considerably from game to game.
- It can also differ from bet type to bet type within the same game.
- Understanding the house edge of casino games and bets will allow you to target the games and bets that offer you a better chance of a win in the short term (though, of course, a win is not guaranteed).
It is also important to note that this information is not a clandestine secret that casino operators talk about in hushed tones! The house edge of games and bets is relatively easy to work out and there are many sites dedicated to precisely this topic.
The important thing to note with house edge is that it is a percentage calculation that is based on a player’s betting odds over time. In the short term, it is possible to overcome the odds to land a profit, thanks to the random nature of casino games, which is what makes casino games so popular with players.
If I played at BetRivers Casino PA, what games are most advantageous for me to play?
If you were to sign up at BetRivers Casino PA for example, you may wonder which games tend to offer the best house edge? Well the good news is that this information is readily available.
- Low House Edge Games (3% or lower) – Baccarat (Player or Banker bets), Blackjack, Craps (Pass/Come or Don’t Pass/Don’t Come bets), Pai Gow, Single Zero (European) Roulette, Video Poker.
- Medium House Edge Games (3% to 6%) – Caribbean Stud Poker, Double Zero (American) Roulette, Sic-Bo
- Higher House Edge Games (6%+) – Keno, Baccarat (Tie Bet)
If you are wondering where slot games fall into this, then the answer to that is that it depends. Most slot games have a medium to higher house edge, although the variation from slot game to slot game can be considerable. Games such as progressive jackpot games, such as the Divine Fortune slot at BetRivers Casino PA, also tend to have a larger house edge as they fund not just standard slot game wins, but also contributions to the progressive jackpot fund too.
The RTP (Return to Player percentage) of a slot game will give you a good idea of the house edge of the game as the nearer it is to 100%, the better the chances are that you will not lose as much when playing the game. Most slots tend to offer between 92% and 96% RTP.
In fact, you can use the RTP for any game to get an idea of how great the advantage is for the house.
Understanding the house edge does not diminish your enjoyment of casino games, but it does allow customers to make better informed decisions about which of the casinos games and attractions they would like to play.
And while the houses may always win in the long term, understanding the house edge can lead to you landing some valuable short term wins at the very least!