Knowing the House Edge - The Key to Casino Success

Ever wonder how and why casinos make a lot of money? Have you asked yourself if they ever cheat with all of that money they're raking in everyday?

Well, first of all, no, they don't cheat. They don't have to.

The casinos don't have to swindle players to get their money as they have the 'house edge' or 'casino advantage' to their benefit.

Simply put, the house edge is the advantage of the casino over the player in any given game. It is the average profit of the casino from a player's wager. So the higher it is, the better advantage it is for the casino and the poorer odds for the player.

To illustrate the casino advantage, let's look at an example: Let's say you bet $100 on a game with a 4% house edge. On any given time, the casino will surely have $4 from your wager of $100 whether you win or lose.

Of course, in the wager above, you can win, take home the pot and lose no money in the process. What we're talking about here is the long run average winnings of the casino in all of your bets.

For example, if you regularly bet that $100 for, say 100 straight days in that game with the 4% casino advantage, it is almost certain that you'll only take home 96% of all the money you wagered and lose the other 4% even if you are lucky almost all of the time.

So what is the house edge for each of the games in the casino?

Let's start with the games having the largest casino advantages, meaning they give the worst odds of winning for the player and the best chances of profit for the casino, up to the games with the lowest which any casino player should look for and play:

First in the list is keno, with a whopping 25% meaning you'll lose once in every four times. Unless you're playing for fun, avoid spending too much time in this game.

Next are the slots, with casino advantage ranging from 5% to 17%. The house edge differs from slot machine to slot machine.

The house edge for roulette is 5.5% while it is 1.06% for baccarat.

Video poker, like slots, has a ranging casino advantage. They average from as small as .5% to 5% depending on the machine.

Craps and blackjack are the most profitable game for players as they have the smallest, with only .8% and .5% casino advantage respectively.

Note that these percentages only apply when played with optimal strategy so if one is playing with no strategy at all then it means higher house edge for the casino.

You're probably thinking how the hell can you get ahead against the casino with this house edge in place?

Well, as mentioned above, this house edge does not actually mean that you will lose every time you play; nothing changes the fact that it is still very much possible to play a couple of hands of poker and win them all in any given time. You take back your bet plus your winnings and the casino gets nothing. This scenario can happen to anyone as the casino's advantage only applies in the long run.

Being aware of the concept of house edge makes you aware of the risk you take in every bet you make. Bearing it in mind will help you in taking more care of your money and in avoiding them to be sucked down helplessly by the casino.