The statistical advantage the casino has over players in a given game. It is the percentage of each bet that the casino expects to keep over the long term, ensuring profitability. This advantage ensures that casinos make a profit over time, as it represents the average percentage of bets that the casino expects to keep as profit. The House Edge is not about cheating or rigging games, it is built into the rules and odds of each game to ensure the casino’s profitability.
The house edge arises because casinos do not pay out winning bets according to the true odds of the game. For example, in American roulette, the wheel has 38 numbers (1-36, 0, and 00). A straight-up bet on a single number pays 35 to 1, but the actual odds of winning are 37 to 1.
Also, the house edge varies between different games and even within different bets in the same game. Here’s a general idea for some popular casino games. In Blackjack, the house edge can be as low as 0.5% or less with optimal play and good rules, but it can be higher depending on specific house rules and the player’s strategy. In American roulette, which has a double zero, the house edge is about 5.26%. In European roulette, with a single zero, the house edge is approximately 2.70%.
When it comes to craps, the house edge varies widely depending on the bets. The pass line bet has a house edge of about 1.41%, while other bets can have much higher edges. In Baccarat, the house edge on the banker bet is around 1.06%, and on the player bet, it’s about 1.24%. The tie bet has a significantly higher house edge, often around 14.36%. The house edge on slot machines varies greatly, typically ranging from 2% to 10% or more, depending on the machine and the casino.
Finally, In poker, players compete against each other rather than the house, but the casino takes a “rake,” a small percentage of each pot, serving as the house edge.
