A term referring to the casino itself or the organisation running the games. The House is essentially the entity against which players compete in various games, such as card games, slots, and roulette.
A key concept related to the House is the House Edge, also known as the House Advantage. This is a mathematical advantage built into casino games that ensures the House remains profitable over time. The House Edge is expressed as a percentage and represents the average amount a player can expect to lose relative to their bets over an extended period.
For example, in American roulette, the wheel includes 38 numbers: 1 through 36, plus 0 and 00. A bet on a single number pays 35 to 1, but the actual odds of winning are 37 to 1, giving the house an edge of approximately 5.26%. This means that, on average, the casino expects to keep about £5.26 for every £100 wagered on such bets.
The house edge varies across different games. Games like blackjack and video poker often have a lower house edge, sometimes less than 1%, especially when players employ optimal strategies. Conversely, games like keno or certain slot machines can have a house edge ranging from 1% to 15% or more, depending on the specific game and rules.
