If you’ve ever spent some time on a gaming website you may have heard the term ‘house edge’ being banded around, but what exactly is house edge and how can it influence your gaming experience? Check out our handy guide below:
What is House Edge?
Simply put, the house edge is a term used to describe the advantage the gaming provider – or house – has when bets are placed. This edge is calculated into each bet using a mathematical equation to guarantee that the house comes away with a profit in the long run. Ever heard of the term ‘the house always wins?’ Well, with house edge that chance is guaranteed.
Imagine you place a bet on a coin being tossed. The odds of the coin turning up heads is 50-50. You place a bet of £1.00 on the coin landing on heads and sure enough it does. So how much do you win? Well, you’d receive £1.00. But the way the house works is that instead of giving you 50p in winnings for a successful bet (plus your 50p stake back), they’d give you 95p.
In our hypothetical casino coin game, if you were to keep placing bets on this game, you’ll eventually lose more than you receive. In reality, you would expect to receive £95 per £100 staked, with 5 per cent going to the house. This 5 per cent deficit is the house edge – the money gleaned from you by the casino. It goes without saying that games with lower house edges are of benefit to players, so actively
seek these out for better potential returns.
What games should I play on?
Games of chances such as Keno and online slots generally have higher house edges. In fact, if we’re thinking of gambling as a whole then the national lottery has probably the biggest house edge of all. But some games have very reasonable house edges allowing you the best chance of making a potential profit. These games tend to be skill-based, and by thoroughly learning gaming strategies you can influence the house edge in your favour.
Lucky Nugget’s blackjack games have some of the lowest house edges of all the online offerings, allowing you to keep hold of your bankroll for longer and enjoy greater playing time. However, single bets are often higher in blackjack than other online games.
What makes blackjack an interesting choice is the amount that the house edge can vary depending on the cards played. Get dealt a seven for example and the house edge rises in favour of the casino, but a 10 or an ace will tip the balance in your direction. Learning basic gaming strategies can also help you turn the tide as you gain knowledge of when to stand, split and double down depending on the cards you’ve been handed.
Craps is another strategy-based game, allowing you to influence the house edge in your favour in the short term. This skill game heavily relies on statistics, and those learning the averages of certain dice throws coming out will benefit most from this game. There are different bet types available which can lower the house edge even further. We recommend finding out about Pass Line Bets and Come Bets to influence your game.
So that’s house edge in a nutshell. It’s pretty self-explanatory, but here’s a quick reminder to get you started:
House edge is the advantage the casino has when you play games
The lower the house edge the better
Different games have different edges
You can influence the house edge by learning gaming strategies
We hope our guide has given you a great head start when learning about house edge. Be sure to do extra research online to make the most of
your gaming experience.