Ascertaining your odds of winning is one of the most essential areas of gambling. Especially if making money is involved, it is very important. All casinos, especially Canadian online casinos, have an advantage over players or in other words – the house edge.
Basically, it guarantees casinos make a profit in the long run based on a percentage of your wager. But a solid understanding of it is can go a long way in securing your better gaming conditions. Although you can’t entirely avoid it, this guide will show you how to reduce the effects of the casino house edge.
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What Is a House Edge?
In the world of online gaming, the house edge simply refers to the advantage that the casino has over players. Usually, you’ll come across it expressed as a percentage, for instance – 5%, 10%, etc. Of course, every casino is different and you should always do your research first. Naturally, the bigger the house edge, the more you will lose. Hence why you should seek a top Canadian online casino with a lower edge percentage than its competitors. This percentage is what you can expect to lose to the casino.
Although every time you play the operator gets to keep a part of your investment, you can also expect some returns. The RTP, or ‘Return to Player’ coefficient will help you gauge the size of your rewards in the long run. This figure also comes in the form of a percentage and the higher it is, the better.
Finding the House Edge
It is essential to understand what the odds are before playing any casino game, like for instance roulette or online slots. So of course, knowing how to calculate the casino house edge is an indispensable skill. Actually, doing so is not too complicated at all. All you need to do is follow a simple formula and do the calculations. Here’s the formula:
- House Edge = (Odds against Success – House Odds) x Probability of Success
The odds against success value here is simply the number of ways to lose divided by the number of ways to win. So if we’re playing French roulette and making a straight bet, then this value is 36/1 since out of 37 pockets, we can win only if the ball lands in the 1 we chose. For this very reason, in this case, our probability of success is 1 in 37, and so on.
If you want the edge value expressed as a percentage, then simply calculate:
- House Percentage = House Edge x 100
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Various Casino Games and Their House Edge
An important factor in the size of the casino advantage is the type of casino game you choose to play. Needless to say, some games offer better playing conditions than others. Here’s a quick rundown of the basics:
|Casino Game||House Edge|
|Craps||up to 16.67%|
House Edge In Slots
Unfortunately, there is an unwritten rule in online gambling – the easier the game, the worse the odds. For instance, online slots are one of the most popular and easy-to-play casino games but the odds are not great. Usually, you can expect to win approximately between 2 and 15% of the time.
There’s nothing online casino operators love more than a game that generates cash most of the time. In fact, that’s why there are so many slots to choose from. Operators can ensure speedy profits by cycling the game between tight and loose. So let’s say you want to wager $100 on a game with a 25% house edge. In this case, you can expect to lose $25 although that won’t necessarily happen.
Beating the House Edge
Any real money online casino player would love an opportunity to beat the casino advantage. But that’s not possible – the house edge will always be there. However, with some background knowledge under your belt, you can really make the most out of a gaming session. Here are our pro tips:
- Play the best games – Not all games are created equal. Some offer better graphics, exciting features, and opportunities to win. So choose wisely.
- Find favorable odds – The odds of a game are a crucial factor in players’ choices. The most favorable odds should be your top priority, too!
- Play with a strategy – A good strategy will give you an advantage, so you should consider implementing one.
Time to Play
Whether you play online or in a regular casino, you can’t escape the house edge. It’s the casino’s advantage over players and it can’t be changed. So to make the most out of your gaming session you should choose what games you play carefully. Opting for more favorable odds can save you some lost cash. In addition, the house edge value also depends on the operator you choose. Hence why we’ve put together our casino reviews library where you can check out the top Canadian casinos and compare.
No. The house edge can vary greatly depending on the game and casino you choose.
Online slots, blackjack, and baccarat are some of the best options with a low house edge out there.
No. Casinos rely on the house edge to make a profit, hence all games have a house edge.
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