Many of us always have this misconception that casinos run out of loss due to the huge winning amount which they throw to the players. Let us understand the fact clearly that the casino only comes out to be a winner at the end, making all the profits. Casino, like any other business, is a profit-making organization and not a free money throwing mechanism. Like many other business models, the casino too has its own operational strategies in place to makea profit and at the same time serve the entertainment market efficiently. Online casino winning odds are very hard to predict and can only be determined by the game you play.
Casinos have got a number of built-in strategies that help them make their profit every time a player gambles. The major takeaways which make casinos the ultimate winner at the end are:
- House edge is one of them which ensures that the casino earns average gross profit from each game.
- The longer you spend your time at casino playing the game, maximum the chances of you losing the money by increasing the chance of odds.
- The house edge varies from game to gameyou play at the casino. For instance, blackjack has the lowest edge in comparison to keno.
Losing more than expected
Most of the players even after having fair knowledge of the house edge and its effect on their game, fail to grasp its implications on their funds. Players believe that a 5% house edge in a roulette table means they have a fair chance to put $100 in the game and play for hours and they will only lose about $5. Actually, they fail to make out that the house edge not only applies to their initial fund but also to the total amount they gamble.
Let us try to understand this through an illustration where the player bets $5 for every roulette spin, and the wheel spins around 50 times in an hour. This means he is betting around $250 per hour. Now let us presume that the house edge is played perfectly, then at the end of 4 hours, he loses $50 that is 5% of $1000 betting money he had invested in 4 hours of play. You can clearly see here that the amount is almost ten times higher than what he has calculated initially due to the misinterpretation of the house edge.
Hence, it is always good to assess your playing capacity and the house edge offered on the floor for each game you wish to play. The right decision at the right time can help you win a handsome amount at the casino.