The house edge is the number one benefit to be aware of when playing games with a house edge, such as blackjack. This is because it helps you put an upper limit on how much the punters playing via the TrueBlue casino login can expect to win and at what rate this amount will change over time. If we look at online casinos, for example: just like any business, they need to understand their revenue and expenditure.
If we take two examples of low-paying slot machines, we can see that while one machine may pay out $500 in an hour, it still needs to be profitable, so let us say the payout percentage was set at 80%. However, the other machine might pay out $4000 but only has a 10% payout percentage would also need to turn a profit. The first machine has a house edge of 4%, while the second has a house edge of 10%. This just goes to show that even though you will receive a higher payout percentage on one machine because it is set lower than 100%, you will still lose money over time as the house edge becomes increasingly relevant as your bankroll decreases.
Types of Bets
There are many different types of games with a house edge, and some examples include roulette, blackjack, baccarat, slot machines, and so forth. For example, in European Roulette, there is an equal 37.5% chance for each number from 0-36 that the ball will land on any given space. This gives us a 5.26% house edge. In blackjack, however, a number of different factors are taken into consideration to determine what the house edge is for this game.
These include: if you are playing on multiple hands if splitting pairs will be allowed, and whether or not doubling after the split will be permitted. For example, on a single hand on an American casino table, you have an expected loss of 1.17%. This goes up to 1.35% when you play multiple hands but reduces to 0.46% when splitting pairs is allowed. However, doubles are still restricted after the splits, which ultimately results in a lower house edge than playing on multiple hands without splitting or double down.
How to Calculate the House Edge
The best way to determine how much you will lose over time playing any given game or type of bet is to calculate it yourself, and this can be done by using a calculator based on actual games. This is because they are played against real people, which means that if you wanted to try and list out all the different factors that contribute towards the house edge, then you could compare real data from real players.
This also helps casinos as they cannot provide such calculators themselves as otherwise, everyone would be able to work out their house edge, and they would not stand a chance at making any profit over time. The real money pokies calculators used online allow users to input different parameters to get more of an idea of how much they are paying on average.
Strategies to Minimize Losses
As mentioned earlier, the best way to minimize your losses when playing games with a house edge is to use a real money pokies calculator based on real data; however, there are also several other strategies you can still use to minimize potential losses when betting with a house edge:
- Only play in an online casino where you know and trust and ensure that it has passed all necessary independent audits and checks.
- Always check out the website for terms and conditions, payout percentages, and any associated fees or charges before making a deposit or wager so you can stay updated with what you could possibly expect to win over time based on your gameplay.
- While playing, consider all other factors that could affect your position, such as bonuses or promotions, including but not limited to referral programs, loyalty points, free spins, etc. These can help boost your bankroll and improve your chances of winning a decent-sized prize, reducing the house edge. This is because these offers reward players for using their casino, which means that more people will be using it, giving it a better chance to stay in business, which benefits everyone involved.
- Avoid games with high odds or too much uncertainty in outcomes such as roulette, casino war, and bingo. These will greatly increase your chances of losing and should be avoided by most players.
- Always ensure you set a budget before playing any games; make sure you stick to this budget; otherwise, this can result in quickly depleting your wallet, which makes any wins less valuable when considered against losses given that they were acquired through reckless spending.
- Lastly, play games that you enjoy; this is because if you do not like the game, then it will most likely impact your overall enjoyment of playing at the casino. This will reduce your motivation to win, which ultimately reduces your odds of winning any prizes and therefore increases the house edge over time even further. Also, if you do not like the game, then it will be harder for you to win big as if you are having fun; winning is never too far away.
Avoiding Games with High Odds or Too Much Uncertainty in Outcomes
In an ideal world, you want to play casino games with a low house edge; however, in reality, this is not always possible. If the odds are too high or the outcome of a bet is too uncertain, then it can be very difficult to make money over time. When confronted with these options, the best thing you can do is to ask for advice from your online pokies casino of choice and see if anyone has any recommendations on what could improve your chances of winning. This will also help save you money in the long term as otherwise, this could add up to quite a sum which would have been far more useful being put towards another bet instead.
The house edge seems like a bad thing, but it works out to be a positive thing for both players and casinos alike. This is because it allows the casino to make a small profit over time, which means that they will not go out of business while also allowing players to have a shot at winning a prize, even if only every now and then. If you want to avoid losing too much money when playing pokies online, then always ensure that you bet with the house edge working in your favor by using real data from real games on an online calculator or asking advice from your chosen casino or fellow gamers.