Love to Play Online Slots? Us Too – Ever Hear of the House Edge?
Ever stopped to wonder how casinos make money? No, not when the best players lose. So, if it’s not from the money gamblers wager where then does it come from? As a casino enthusiast, it’s safe to guess you’ve heard the term “house edge,” huh?
Ok, here’s the thing, casino games – all of them except maybe video poker and Blackjack – have an inbuilt advantage that tips the odds in favour of the house.
This “advantage” often called the house edge is the core feature that ensures casinos make profits year on year and stay in business.
In this article, you’ll learn all there is to know about house edge and how it can impact your winnings as a slot player.
What is the House Edge?
The house edge is a mathematical advantage casino games have over a player. It is often calculated as a percentage of the total money lost by a player to the total bet placed over a given period.
Now, this does not mean the casino isn’t fair or cheats the player. The house edge is a distinctive feature of casinos, and it is accepted as part of the game.
The Edge ensures that the house in the long term always wins; while you the player loses if you play long enough.
Don’t take it personally, remember the operator is running a business and there are costs and expenses associated with operating the casino – the house edge assists them to take care of their obligations like paying staff, maintaining the casino; and of course, turning a profit.
The House Edge Explained
In number, the house edge is the average profit of the casino from a player’s bet. Take for instance, in the game of Roulette; the house advantage is about 5%.
What this means is that for every dollar wagered, the house keeps five cents and pays out the remaining 95 cents as winnings.
Looking at this you might think, the amount, 5 cents is quite small. Now, imagine that for a single night that all roulette players in a casino collectively staked $1million, the house is expected to retain about $50,000 of the total bet as profit while paying out $950,000 as winnings.
How Does the House Edge Affect Slot Players?
Slots are the most popular casino games for a reason – they are easy to play, and there’s a chance you might hit a life-changing jackpot.
But, that’s just one side of the story – have you noticed that slot machines seem to be the most abundant games on the gaming floor?
Well, there’s an explanation for that. You see, slots offer casinos the most significant channel to make the most profits; and since you already know that the house only makes their money from house edge, it safe to reason that the house advantage is largest on slots!
It’s a win-win really – the player has a chance to make a jackpot; the house has an opportunity to rake in higher odds.
* Keep in mind that the longer you play, the closer your losses get to the house edge.
* The house does not have to cheat since it always comes out ahead in the long term.
* Finally, consider the house edge plus your loses as a cost of entertainment.