Understanding House Edge at Online Casinos

Today we will be going over how the “House Edge” at online casinos vary casino to casino, and game to game. It is important to know which online casinos have the highest payout percentage and which games feature the best odds.

Many people might get confused with all the cumbersome numbers surrounding casino games. Odds, possibilities, chances and house bets are just a few of the terms you’ll be coming across in a casino. Today, we’ll be discussing the latter i.e. house edge. Just as important as reviewing online casino deposit options when funding your account at an online casino, it is of the utmost importance to know which online casinos have the best odds for blackjack if that is your game, or roulette, and so on and so forth.

House Edge
Let’s suppose a player makes a color bet on the roulette table i.e. betting on one of the two outcomes (red or black). This makes it a 50:50 bet, as there’s an equal chance of either color in the outcome. Now let’s say you bet a dollar on red and what do you know, you won! Of course the casino will be paying you, but what if you keep on winning? After all, nobody can predict the outcome of a roulette spin, can they? Will the casino run out of business? The house edge ensures it doesn’t.

Casino House Edge

If you had bet $1 on the color odds, you should be getting $2 (50:50 odds) which is referred to as the true odds. Unfortunately, you get only $1.93 cents, because the rest is the house edge. See, the casino keeps some of the winnings in order to make a profit. These edge percentages are defined by the casino to make sure it always goes into a profit, even in the worst of times.

In order to calculate the house edge, simply divide the difference between the true and house odds, dividing it by the true odds. In the case above, the casino has a house advantage of 0.07/200= 3.5%, which is quite a lot.

September 28, 2014 by : Posted in canada No Comments

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