The Built-In Advantage of the Casino
You've likely heard the saying that the house always comes out on top. This saying describes the house edge, casino the core principle upon which all casinos operate. It is the casino (goldfish.it)'s built-in mathematical advantage over the player in any given game. Understanding it is crucial for any smart gambler.
The Math Behind the Advantage
It's calculated based on the payout odds being slightly less favorable than the true odds of an event happening. Consider an example from the game of Roulette:
A European Roulette wheel has 37 pockets (numbers 1-36, plus a single 0).
There is one chance in 37 that you will win.
However, if you do win, the casino pays you out at 35 to 1, not 36 to 1.
This discrepancy between true odds (36:1) and casino (goldfish.it) payout odds (35:1) is the house edge.
This results in a 2.7% house edge, meaning the casino will, on average, retain $2.70 of every $100 wagered.
House Edge in Different Casino Games
The house edge varies significantly from one game to another, and even between different bets within the same game.
Game Typical House Edge Notes
Blackjack Around 0.5% Requires the use of optimal basic strategy. The edge is much higher for unskilled players.
Baccarat (Banker Bet) ~1.06% This is statistically the best bet to make in Baccarat.
Craps (Pass/Don't Pass) ~1.41% Stick to the fundamental bets for a low house edge. Avoid the proposition bets.
European Roulette Exactly 2.70% A fixed edge that applies to almost every bet on the table. Consistent and casino predictable.
American Roulette 5.26% This is a clear example of how a small rule change can dramatically affect the odds.
Slots Usually 4% to 8% The edge on slots is generally higher than on table games.
Playing Smart
Winning is still possible, as the edge only applies over a huge sample size. Luck is the determining factor in any one visit to the casino. However, knowing about the house edge allows you to make smarter choices. By choosing games with a lower house edge, you are mathematically giving yourself a better chance of having a winning session and making your bankroll last longer.