In gambling, one thing is for sure: it is a myth that everything is left to chance. It’s actually the exact opposite – the casino always wins. Casinos have strictly fixed business models designed to make sure they are profitable.
Online vs. Land-based Casinos
Is there a difference? Casinos are tightly regulated businesses where everything is closely watched and monitored, from table games and slots to sports betting. Many of the best brand new casinos online are regulated, but not all of them. Some are run from overseas. You can’t rely on a central authority inspecting their games or cameras to guarantee fair play.
Typically, gaming commissions regulate land-based casinos. They have rules in place to make sure the games are fully compliant. The commission investigates any complaints or disputes that arise.
Online casinos don’t always offer this kind of protection. This isn’t to say you should never sign up and try your luck. Just make sure it’s legitimate and regulated before registering and providing any banking details.
As for odds, it’s not really possible to say which are better. The house always wins either way.
The House Edge
The casino is always more likely to win your money than vice versa, no matter what game you choose to play. The built-in edge is the reason for this. For instance, you might think the odds to win at roulette are 36:1 because the wheel is numbered from one to 36. The wheel also has a zero, though, and sometimes a double or triple one. The odds against you can be 39:1.
The proverbial house edge represents the profit that the casino anticipates from any one game. It varies from game to game: from as much as 40% to as little as 0.5%.
On average, the casino expects to make just over $50,000 for every $1 million wagered on its roulette tables. Its ultimate goal is for the player to leave with slightly less money than they had when they came.
Players Lose More Than They Think
Quite a few casino players are aware the odds are stacked against them, but they don’t grasp the extent of this. For example, they know the house has a 5% edge. They think this means they will only lose $2.50 if they sit down with $50. The edge applies to the total amount they bet, not just the amount they start with.
Another issue is that a player will often be ahead in the short term. Eventually, however, the casino will push them into unprofitability.
The Casino Will do Anything to Make Players Stay Longer
They play pleasant music and create a nice ambiance. They have no windows or clocks, so you don’t notice how much time has passed. They have pretty girls “hanging around” the tables.
They also have free drinks. Few things are more detrimental to one’s bankroll than playing under the influence.
While there might well be no difference in the edge online and land-based casinos have, the former will have none of the above distractions, making them more lucrative or at least less disadvantageous to your bankroll.
Games by House Edge
Keno and sic bo are among the worst games to play because they offer the casino the most significant edge. At the other end of the scale are blackjack and video poker.
Knowledge of the edge doesn’t stop people from gambling. There is always the tiniest probability of winning some money. Gamble in moderation and never wager more than you can afford to
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