Are you wondering whether casinos cheat players? Learn about house edge and how casinos profit from the games including Roulette Wheel Game.
While playing at an online casino, you should know about the odds in every game and the house edge. This is a thumb rule you should follow whether you are playing online roulette game or in a land based casino. The house edge and odds are usually of standard percentage. This article will help you know how online casinos earn money without cheating you. Cheating is not necessary, as every casino game is designed with profit inbuilt into it, which is called as casino advantage or house edge.
House Edge explained
Casinos are known for their entertainment value and the opportunity they provide of winning big just by gambling. Many people think that casinos cheat people and extract money from them. This is not true. There is no necessity for the casinos to cheat as each and every game, including live roulette online, except for Video Poker and Blackjack, is designed with an inbuilt profit for every bet you make.
Each bet has a 50-50 probability of losing or winning. This is called as even money type of bet. For instance, you do a one dollar bet and win, you will be paid one dollar. This is termed as true odds.
But if the casino pays you just 95 cents for every such bet, the house edge or profit for the casino is 2.5%. Thus, house edge denotes the difference present between your true odds and the probability of casino paying you after you win.
The Edge or Advantage is an integral part of the casino gaming industry, but is mostly lower in UK when compared to other countries. So players participating in the UK casino games are given clear details on House Edge for all casino games under the rules pages of the individual games. While the basic percentage is fixed the figures may differ under specific playing conditions. For instance, in Blackjack, the percentage varies widely based on skills applied by players. The odds also vary based on odds payable by different casinos. It is prudent for players to check on house edge details, so they are clear about the money earned by them and the casino.
What is the house edge of roulette game?
Except for Video Poker and Blackjack, the house edge is fixed for all casino games. The two exceptions have positive payback based on the payback table rules and player skill. In Roulette Wheel game, the casino advantage or house edge is generally 5.26% in case of double zero game. House edge for Roulette is calculated as follows:
The game has 0,00 and 36 numbers. The winning odds therefore are 1:38 or 1:37.When you win, you get 35 for a single dollar bet. In addition to the dollar you had used originally, you will get $35 more. The difference here is $2 (38 -36). You get the true odd by dividing the 38 by $2 which makes the house edge as 5.26%.
In Roulette wheel game, you can lose money even after covering all layout numbers. This makes it great odds for the casino but not for the player. This is the same for other games like Big Six, Craps etc. as a single spin or roll cannot change the result.
Ways to minimize the house edge of roulette game
In live online Roulette, choosing the right type of bets will help you enjoy the game without losing money towards the house edge. Most of the bets in Roulette have similar house edge. Here are some ways to reduce house edge in Roulette:
- When you play online live Roulette, ensure you choose European version as it offers the best odds than American Roulette wheel game. In European wheel, you have 37 numbers including 0, while it is 38 for American Roulette including 0 and 00. House edge is therefore 2.7% for European Roulette, while it is 5.26% for American Roulette.
- If you want to try your luck with American Roulette steer clear of Top Line Roulette bet. This bet has odds of 6:1 and covers 1,2,3,0 and 00 numbers. The returns are not good with the casino edge being about 8%.
- If you prefer to bet on streaks and want to gain or lose your money slowly, choose the even bets.
- If you love taking big risks and want to exit the game with considerable returns, it is best to concentrate on the single numbers.
- If you want to win on a majority of your spins in online roulette game and you are not worried about the occasional big loss, you can spread out your bets and cover the entire wheel.
As you can see casinos need not resort to cheating the players to make profits. And this does not mean that you lose whenever you play. Then no player would return to bet on the games, would they? But casinos mostly profit from the negative game expectations of players.