What is the House Edge?

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Posted by: top24casinos
Posted on: October 31 2019

For a lot of people who liked playing video games, we all heard someone say “you can’t make money playing games.” Then e-sports came around and now the players are earning well. But, you don’t have to be an e-sports athlete to win money playing games. Instead of training hard to be part of a top-level team, you can play in casinos. But before you do that, you need to know what a game of chance is, and the house edge.

The House Edge; what is it?

So you want to play games and win money, then the casino is perfect for you. Now, this article guides you so you won’t get lost in all the excitement. For some people, they play casinos thinking they will walk out with more or equal money when they walked in. That is not always the case. In fact, for most, that is rarely the case. One of the reasons for that is the house edge.

One can say that the house edge is the reason casinos make money. Basically, the house edge is a percentage showing the advantage a certain casino game has over the player. To be clear it is not the ratio of money lost to the total wager. Instead, it shows the average loss to the given bet, making it simpler to estimate expected losses on a single hand or game.

To help give you an idea of how it goes let’s say a player will bet $100 on a game with a 0.30% house edge, then they could expect to lose 30 cents. If a player plays a slot game with a house edge of 7%, the same wager would lose $7. This may not sound much at this level, but consider how much people are playing at casinos online and offline. Plus casinos typically operate 24 hours a day 7 days a week. 

Understanding the house edge is also good for another thing. That is to help you understand that a good casino is not cheating you out of your money. It is not uncommon to hear bitter gamblers saying that a casino used unregulated games. First of all, beware of playing with unlicensed casinos, those are trouble. But, when you play with properly licensed casinos their games are well regulated to make sure that you are playing with a fair operator.

Games of Chance: What are they?

Now, before you start playing games in online casinos it is good for you to know what a game of chance is. These are the games that a casino offers and you will be playing them to win money so you should know about them. So, in this section, we will identify what games of chance are, and how they work. This is to help players from imagining that a casino is not a place to get rich quick.

To put it simply, a game of chance, especially the ones you play with inside a casino, are games whose result will depend on random number generators. Being the player, you will wager on the outcome and that is where you win or lose your bet. In modern casinos especially online ones, the game’s rules are designed to maintain the house advantage or house edge. That way your chance of winning and losing is regulated.

You should also note that nearly all casino games that you’ve seen or played with counts as a game of chance. That includes slot games, roulette, video poker, and most table games. Actually, the only two casino games that needs some skill so that you can have a grasp at making wins are poker and blackjack. But if you come play those games with little knowledge of how they work, they are still pretty much a game of chance.

Casinos have been operating for such a long time. Now, that is because they are a hub for games of chance. These games have been around for longer than casinos. It just proves that humans have enjoyed taking risks and making bets when the odds are against them ever since. In fact, some of the people from the earliest civilizations even used knucklebones of sheep as dice for their games. It is crazy to think that our ancestors were onto something when they decided to make luck-based games. Think about it, to this day games of chance are still very popular and we are innovating them to make better games.

Those are two of the most important terms any player should know when they are playing with casinos, online or otherwise. Now, if you want to know more about how casinos work, where to play, or how to make your casino experience better through bonuses. Visit us back again at top24casinos.com