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Introduction to Odds
Before going deeper into each casino game, it is important to know exactly what odds are. Odds refer to mathematics in that they represent a basic probability of a potential outcome and are usually expressed in a decimal or fractional format. A well-known example is the traditional coin toss before a football game. By flipping a two-sided coin, you know that there are exactly two possible outcomes (unless by a quirk of fate the coin comes to rest on edge): heads or tails. The probability of the coin landing heads up is one out of two, expressed 1 to 2 as a ratio. Another way to express the odds of a coin toss outcome is in percentages. Ask anybody what the odds are, and they will likely reply: "Fifty-fifty." This refers to the 50% chance that either head or tails will result.
Just like a coin has two sides, a roulette wheel has 37 or 38 slots, a standard playing deck has 52 cards, and a die has six sides. These numbers and the various results of each play represent the probabilities of the games. It is easy to see how math and odds are very much a part of casino gambling. While most players are busy having a toss of the dice at craps tables, they rarely stop to consider the actual math behind their throw, and how placing certain bets will either increase or decrease their overall expectation of winning. Smart gamblers realize that there are strategic ways to bet and play certain casino games that will make all the difference. They also know that if you're goal is to walk away a winner, certain games should be avoided. With that in mind, we'll begin to explore which games offer the best odds.
Best Odds, Worst Odds
Most everyone, from the total beginner on up to the professional, knows that casinos are in business to make money off of the players. How are new billion dollar resorts built? On the backs of the players of course. Every casino game has an inherent advantage for the casino known as the "house edge." This percentage represents how much the casino expects to make from every betting unit wagered. For example, the house edge in double zero roulette is 5.6 percent. So, for every $100 wagered, you can expect to lose $5.60. This may not seem like a lot, but several important factors must also be considered.
Let's say you're playing blackjack at $25 a hand, and the table is averaging 60 hands played per hour. Multiply $25 times 60 hands and you are playing through $1,500 an hour. Let's say you play for four hours. That means that you play through about $6,000 of which the casino expects to grab 0.8 percent - if you're playing perfect basic strategy. This amounts to a loss of only $48 which isn't that bad, making Blackjack one of the better options for players. Consider how much the house would expect to gain by your playing Roulette for the same amount of time. Roulette is a slightly slower paced game, with maybe a round every couple minutes or so, and not many players are quite avid enough to spend four hours at a table. But, for arguments sake, we will examine that at a rate of 30 rounds per hour with a flat bet of $25, playing for four hours, the casino would expect to make $157.80 from your play. Again you might say, well that's not an overly exaggerated amount to expect to lose during a session at a casino, but keep in mind that it's playing over time that makes it add up. Twenty such sessions a year would set you back $3,156 and multiply that by the number of years you plan to play, and you'll see that it really does add up.
Game House Edge
Craps (double odds) 0.60%
Blackjack 0.80%
Baccarat (banker) 1.17%
Baccarat (player) 1.63%
Pai Gow Poker 2.5%
Roulette (single zero) 2.7%
Three-Card Poker 3.4%
Let It Ride 3.5%
Sportsbook Betting 4.5%
Caribbean Stud Poker 5.26%
Roulette (double zero) 5.6%
Big 6 Wheel 11.1% to 24%
Keno 25%
Some people gamble at a casino for the fun and excitement that this unique form of entertainment delivers. That is perfectly fine, as gambling can be a very enjoyable hobby. This type of player doesn't mind parting with a small chunk of change because they can rationalize the experience in saying it was the price paid for a little fun. This is perfectly fine if that person is an occasional player, or if they hadn't ever really planned to devote the time to studying the games or taking steps to ensure you actually win money during sessions. However, the truth is that nobody likes to lose, and there are proven ways to dramatically reduce your chances of losing - namely by not playing games with bad odds - like keno. Keno carries one of the highest house advantages of all games, weighing in at a hefty 25%. This is actually as good as the odds get for keno, with the odds varying from casino to casino. Next time you're at a casino, stop by the keno lounge simply to observe. Chances are you'll find a lot of tourists and other people who really don't look like they know how to play any real games, perhaps there for the comfy chairs, lottery-like appeal, and relaxing pace of the game. This is about all the game offers, so please don't waste any money on it.
Looking at the game chart, you'll notice that Craps, Blackjack,
and Baccarat offer the smallest house advantages. These are the
games you should focus on. Coincidentally, Craps and Blackjack
are two of the most fun games to play (at least in my opinion),
and this makes their study feel less like actual study and more
like fun. If you already know a thing or two about blackjack,
then you probably know that it is one of the only games where
a skilled player can not only eliminate the house edge, but go
a step further by creating a player's edge. How is this possible?
Learning basic strategy to perfection is the first step. Next
is becoming a knowledgeable and accurate card counter. Lastly,
adjusting bets and hand decisions based on the count while masking
your expertise to the dealer, pit personnel, and preferably other
players. Unless you are already a natural genius at math, this
will likely take hundreds of hours of practice. Few ever make
it to the level of professional blackjack player. If you are able
to someday acquire this elite status, you can expect to have an
edge over the house at somewhere between 0.5 and 2 percent. Again,
you might say this doesn't seem like a lot. It's time my friend,
time that makes things add up. A professional player can expect
to make in the neighborhood of $30 an hour playing blackjack,
depending on betting level. This is a lot more than minimum wage,
but it is not a salary by which millionaires are made either.
This is just an example of one way to make smart play work for
you. Instead of giving up a big advantage to the house playing
a game like keno, try learning basic Blackjack or Craps strategy
and you'll likely notice a decrease in your losses and an increase
in your winnings right off the bat.
Now that you have a basic concept about casino game odds, pick
a game that interests you and learn the odds behind specific types
of bets.
| Baccarat | Blackjack | Slots | Keno | Poker | Craps | Roulette | Video Poker |
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