Las Vegas Casinos can be a lot of fun and people come from all over the world to Sin City to have a good time. For the casual tourist looking to have some fun and excitement on the casino floor, find a cool looking slot machine, sit in front of it and just push the button.
For the serious gambler, understanding the Casino House Advantage can help you decide which games to play by understanding the games that present you with the better odds.
Casino House Advantage or House Edge is the difference between the true odds and the odds that the casino pays you when you win.
Las Vegas casino games are designed with a house advantage. Mathematically, the house advantage is a measure of how much the house (the casino) expects to win, expressed as a percentage of the player's wager. For example, in a game with a 5% house advantage, the casino expects to win an average of $5 per $100 wagered.
Casinos can be a lot of fun and people go there to have a good time. However, don't forget casinos are in it to make money. It is important to know the house advantage for each game. House advantages also vary by region, casino and game. Today if you ask any Vegas gambler where is the best place to play, they will most likely say, downtown or off the strip. The reason is because people believe the games with the best odds in Vegas can be found the further away you go from the Vegas strip. This is actually not a proven fact.
On the Las Vegas strip, given the common rules, the approximate house advantage for each game are as follows:
For games with strategic decisions (e.g., Blackjack & Video Poker) an "average player" strategy is assumed.
For games in which rule/pay variations exist (e.g., Slot Machines) a typical offering is assumed although an operator may, subject to government requirements, provide for a greater or lower house advantage.
Actual house advantage and hold percentages may vary. Also ask your casino host for up to date information.
source: American Gaming Association
Now you see why casinos consider slot machines their "bread and butter". This also explains why every casino in Las Vegas is filled with slot machines as far as the eye can see.
If you wonder what the best games to play in Las Vegas are, look for games with a small house advantage. For the player, the best games to play are Blackjack, Craps and Baccarat. These are the games where the house advantage are most reduced, meaning in the short run you can beat them.
Whether you play slots, craps, blackjack, roulette or any other game in a Las Vegas casino, it is important to remember that games of chance are based on random outcomes and always favor the casino.
These games of chance are a form of entertainment, at a price to you, the player. Casino gaming should not be considered a way to make money.
To explain casino house advantage in details, take a look at the Three Las Vegas casino games below taken from the (table above) and their respective house advantage.
Now let's focus on the Roulette game with "Double Zero" which is your typical Las Vegas Roulette wheel.
Remember on a Las Vegas Roulette wheel there are 36 numbers plus the zero and double zero (shown in green), so there are 38 numbers where the ball can land.
When you place a bet on a single number the odds of the ball landing on your number are 37 to 1. If you win the casino pays you 35 for your dollar bet. You keep your original dollar, and are paid an additional $35 so the total returned to you is $36. The difference is two dollars (38 minus 36).
Divide the $2 by 38 which is the true odds and you come up with the house edge of 5.26%.
What this means, is that you could actually cover all the numbers on the Roulette wheel and still lose money because the house will always retain 5.26% of the wager.
Now you can see why Blackjack is one of the most popular casino card games in the world because of it's low house advantage. And why casinos consider slot machines their "bread and butter".
This website encourages you to play responsibly by betting within your limits and by recognizing that over time the house will come out ahead.
VegasHowTo.com is strictly a gaming information website and in no way affiliated or associated with any Las Vegas Casino. We encourage you to play responsibly by betting within your limits and by recognizing that over time the house will come out ahead.