No matter which online casino game you choose to play, games of chance are based on random outcomes and can’t be accurately predicted. Every casino game is created to give the house (casino) an advantage.
Some casino games feature an element of skill, but chance also plays a key role. These games include blackjack, poker, and skill-based slots. In these casino games, skilled gamblers can increase their winning chances, but the outcomes still favor the casino in the long run. This article takes a closer look at how casino game odds work and helps you understand the house edge in different games.
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What is the house edge?
The casino house edge refers to the ratio of the average loss to the first bet. In some casino games, the starting wager isn’t necessarily the ending wager. For instance, when playing Caribbean stud poker or blackjack at the Betway casino, you can increase your wager when the odds are in your favor. In such cases, the extra cash wagered isn’t factored in the denominator when determining the house edge.
The main reason why the house edge is based on the original wager is to make it easy for players to estimate the amount of money they’re likely to lose. For instance, if you know the house edge for a blackjack game is 0.6%, you can assume that you’ll lose an average of 6 cents for every original $10 bet you make. Most casino players also don’t keep track of how much they’ll average wager on a game.
Casino game odds explained
Well-thought-out casino gaming at Betway is all about accurately predicting the outcome of different events. If your prediction turns out to be true, you’ll win. However, there are several possible outcomes in any casino game.
For instance, when you roll a dice once, there are six possible outcomes. If you bet on three being the possible outcome, you stand a 16.67% chance of winning your bet. As such, betting odds are mathematical representations of a specific event happening. Most online casinos indicate these numbers in decimal or fraction form.
Fraction vs decimal odds
Whether you use fraction or decimal odds, the possible wins in a particular event will remain the same. However, you’ll most likely find decimal odds being used in online casinos as they’re simple to understand even without a lot of experience in casino betting.
Which casino games offer the best odds?
Now that we’ve explained the basics of betting odds, you must be eager to know which casino games offer the best odds. The house edge varies from game to game, but you’ll find the payout percentage on your casino website.
In general, roulette, blackjack, baccarat, craps, and video poker offer the best odds. These games have an element of luck, but you can employ your skills and reduce the house edge to around 0.5% – 1%. However, you’ll need to practice and study hard to master any of these games and learn how to maximize the betting odds.