Many people that have never been to a casino before assume they will have to pay an admittance or entrance fee and although this is true at some casinos (but normally only for tournament entry), most casinos do not require any type of entrance fee to come into the casino and play. So, how do they make money? Off of your losses of course as well as the house edge.
What exactly is the house edge? Well, the house edge is a leverage, when taking part in gambling games that the casino has above all of the players playing. Pretty much, it is something that does pay for the casino over time; however, it is not something that would cause casino gamblers to turn away from the casino and the playing of the casino’s games as it is not that large of a leverage. For example, if you were to be playing on a 100 numbered spinning wheel and you were only able to win on 1-48 then the house would be able to win, with a small house edge, on 49-100. See, not that big of a deal, but enough of a deal for the casino to make it work.
All casino games will have different house edges, so do not assume the above example with all casino games. Slot machine games are normally based off of percentages. For example, the slot machines are set up to payout 85 percent of the time or whatever the casino sets it at. On the Roulette wheel, it could pay out 34 of the numbers and the last three numbers would simply be the casino’s leverage – or the house edge, as we are speaking of. There are many different ways the house edge can be explained and it all depends on the game being played.
When it comes to the house edge, there are no wild cards or any type of hunches made when the odds are factored. However, at times, you will notice that there are two different sets of house edge due to the fact that many gamblers do feel hunches and what not. Therefore, there is one set of numbers for the house edge in relation to average past returns and the second for most advantageous playing.
So what can you do with the edge of the house? Is it possible to have the odds be a bit in your own favor rather than the house’s favor? Sure, especially if you train yourself well. You can improve your overall game whether you are playing Blackjack, Craps, Roulette, etc. If you can learn the tricks and trade of the game, you are likely to be able to incline the odds in your own favor.
In addition, why not take that free drink they always offer you? Alternatively, some casinos may give you free tickets to a certain event. Take them! Is there a sign-up bonus for new gamblers? Take it! What – a complimentary dinner and hotel room? Sure!
Don’t get too upset because the casinos have a edge of the house because if they did not have it, then where would you play at? You sure wouldn’t be playing in a nice newly built casino with nice tables, air conditioning, rewards or comps, showgirls, nice and friendly dealers or servers, etc. They have to make something somewhere! Then, on the other hand, for online casinos, they have to pay for advertisements, computers, employees, webhosting, etc. If we didn’t help them pay for this, we wouldn’t be able to have as much fun as we do when playing!