Casinos are the only type of business where it is legal to be dishonest and deceptive. It’s not like they can’t make money any other way, but casinos have a long history of making most of their profits from players who don’t know what they’re doing. Casinos win because people don’t understand how odds work, and that’s why we wrote this blog post: to help you gain an edge on the casino!
We’re going to start by explaining the basics of odds and how they work. This is important, because once you understand the basic concepts you can use that knowledge to give yourself an edge when playing casino games. After we explain the basics, we’ll show you some examples of how casinos use odds to their advantage. Finally, we’ll give you a few tips on how to reduce the house edge and tilt the odds in your favor.
Let’s get started!
Odds are simply a way of expressing probability. They tell us how likely something is to happen, based on a given set of circumstances. In gambling terms, odds are used to calculate what percentage of money (the “house edge”) the casino expects to make from a game.
For example, let’s say you’re playing blackjack and the dealer has an Ace showing. The odds of the dealer getting blackjack are about 18%. This means that if you bet $100 on blackjack, the casino can expect to make an average of $18 in profit from your play.
Now let’s imagine that you’re playing roulette and you bet on red. The odds of winning are 47.37%, so if you bet $100 on red, the casino can expect to make an average of $47.37 in profit from your play.
As you can see, understanding odds is essential for beating the casino! Let’s take a look at some common casino games and how they work.
Blackjack is a card game where the goal is to get as close to 21 as possible, without going over. The house edge in blackjack is about 0.54%, which means that for every $100 you bet, the casino can expect to make an average of $0.54 in profit. This number may not seem like much, but it can add up over time!
Roulette is a game where players bet on which slot the ball will land in after spinning around a wheel. The house edge in roulette ranges from about % for American Roulette, to about % for European Roulette. This means that for every $100 you bet at roulette, the casino can expect to make an average