Most people gamble for fun – or, in more technical terms, for a hit of the gambler’s high when they land a lucky win. There are, of course, people who run counter to the idea of gambling for just ‘fun’: professional gamblers. Although an extremely rare species, people who make steady money off of gambling do exist. And to consistently make profits implies that the casino system can be potentially exploited as an even source of income. Even though people play for entertainment, everyone likes to win ultimately. In that case, why can’t you, or anyone else for that matter, seem to keep winning? The simplest explanation is the most obvious one here. Casino games vary widely in profitability.
How The Lower Odds For You Benefits The Casino?
In the simplest terms, the house edge is the upper hand a casino has on you, the player. A casino is an expensive business to run. To stay even afloat, it requires a great deal of money. Which, as you can guess, they do earn. A casino’s earnings come from your lost wagers. Other avenues of income are more or less negligible in comparison. Coming back to the topic of house edge: most casino games give a mathematical edge to the casino by design.
The house edge depends on the game. But any positive value there means an inevitable advantage for the house. For example, look at European roulette. It has only about 2.8% house edge. To clarify: on an evens/odds bet, the casino is 2.8% more likely to get your money. It seems to be a small number, but it adds up really quick. Higher house edge means, of course, more cash for the casino. In games with lower profit margins, the casino will adjust the payout to minimize potential losses.
Now, gamblers are also a smart lot. They do know about the discrepancy in success rates between the player and the house. Thus, to lure them in, many popular casino games use a nearly even split, i.e. close to 5% or less house edge. In a casino, these games are actually the best odds of making money you get. A good example is blackjack, which also counters the argument that only difficult games like poker have a low house edge. However, the existing set of games does lean heavily towards easier games for higher house edges. In this article, we will take a look at the top 3 lowest odds you can get from casinos.
Arguably, slots capture the mood and spirit of a casino better than any other thing. When you overlook the obnoxiously low odds of you winning, that is. Slots is a game of absolute automation from the casino’s side. The player only pulls a lever to give the signal. Realistically, fishing for a jackpot on slots is often like trying to roll a specific number in a randomizer of numbers from 1 to 100,000 – or more. Even outside of jackpots, no slot game will ever boast a 100% return to player percentage. Mathematically speaking, the average slot machine will likely just lose you a lot of money. The house edge of these games are at least 3%, and can go up to as high as 20%.
Big Six Wheel
Its name evokes the famous motif of the rota fortuna. But do not let the splendor fool you: this is not a game you should ever play with the intent to win money. In terms of gameplay, big six wheel is just like slot games. However, some slot games are actually very generous when you compare it to this money sink. In this game, you spin the wheel and bet on the possible result. The safest bet in this case is $1 – and yet the house edge on that is 11%. The most ‘rewarding’ bet, the joker, may give you 36 to 1 payout odds. But that has a house edge of whooping 25%. In the UK and NZ variants, though, the house edge is much lower than that.
Quite popular in many US casinos, Keno is basically a form of lotto. You pick out a number from 1 to 80 and wager on it.. Afterwards, the house choses 20 numbers at random – and you can win money if your number gets lucky. The game is deceptively simple. At first glance, it even looks generous with the payouts if you land multiple winning numbers. But this is the worst offender of the bad odds sin – with up to 35% house edge!
In conclusion, we would also like to remind you that a casino is a place of entertainment. There are nearly no incentives for you to go play Keno from a financial standpoint If it is just about earning money, investing in stocks and infra bonds is a mathematically better idea. But when you are at the casino, fun must also be an important factor. So from that standpoint, do play games with low odds if you find them fun. Just do not let them fool you – over time, you will lose a lot of money on these if you keep playing.