Understanding House Edge and Odds: How the House Edge and Betting Odds Affect Your Table Game Experience

When logging into today’s amazing online casinos, you are greeted with a nearly endless buffet of enchanting casino games and top-tier promotions. Of course, these two things are the major selling points and the bread and butter to get players to sign up at the online casino. However, when they do sign up and are approved, they, of course, will want to get the most bang for their buck.

That’s where mastery of essential terms like the house edge and betting odds enter the equation. And this is why taking a moment to read this guide can make all the difference in success.

What Is the House Edge?

Unlike the RTP, which is a gauge to help players figure out how much they can expect to get back from a $100 wager, the house edge, otherwise known as the house advantage, works to help gamblers figure out how much of the winning bet the casino keeps playing casino games.

Calculation

To best understand how to calculate the house edge, it’s first to note that every casino game has unique bets with different odds of hitting. For example, the odds of hitting the straight-up bet playing roulette is roughly 48.64% with payouts of 35:1. With this critical step, the next move is to figure out the return to player percentage.

With this in mind, it becomes a shoe in to figure out the house edge. Calculating the house edge follows the simple formula of “1 – The Expected Return.” With this vital percentage, online casinos have a rough gauge of how much profit they can expect over the long haul.

Importance

It doesn’t matter how good you think your game and style are. Winning, more often than not, with real money and sweepstakes casino games hinges on picking the ones that are favorable to the player. And that’s where the house edge comes into play.

How the House Edge Affects Your Online Gaming Experience

While we all have dreams about hitting the big spin, the reality is that it’s not always in the budget. Because many online casino players work with smaller budgets, they are not in a position to make big or more complex bets. However, that doesn’t mean you can’t win more often than not.

By choosing the casino games with a low house edge. They have one foot in the door towards adding to their bankroll.

Choosing the Right Bet

The house edge concept doesn’t stop with the casino game itself. Making the right bet with a low house edge works wonders as well. Take, for example, the classic Punto Banco Baccarat. Overall, Punto Banco is one of the most straightforward card games, but the house edge differs based on the specific bet.

For those looking for better odds, sticking with the player’s and the banker’s bet is a straightforward way. The player’s bet carries a favorable house advantage of 1.25%, and the banker’s bet has an even lower one at 1.05%. Depending on the online baccarat game, there might not be a commission on the banker’s bet, which greatly reduces the house edge to possibly 1% or even 0.5%.

However, if you are on a small budget, it’s not in your best interest to spend it on the tie bet. The tie bet in baccarat is a very steep 14.35%, and they don’t pay that frequently. On the flip side, if you are a player with deep pockets and an actual high-roller, you can probably absorb the losses in hopes of hitting 8:1 payouts that more than make up for it.

Craps is another game that has different house edge rates based on specific bets. Take, for example, the pass-line bet, which is a common bet, has a doable 1.41% house advantage. The don’t pass-line bet also favors the player with 1.36%.

However, the more rewarding craps bets, like place bets, swing things in favor of the casino with a more steep 6.67% RTP. The same goes for the Big 6 and Big 8 bets, with a house edge of over 9%.

The Allure of the House Edge

While choosing a favorable house edge is important to the player, the thrill of beating the house is another important factor.

Sometimes, it’s not just winning; it’s winning against the odds, which makes players feel more fulfilled. This is especially so with more complex bets like the tie bet with baccarat.

Software Providers

There’s no question that the role of the casino game developers also impacts the house edge. Even with the top developers like Microgaming and Evolution Gaming creating the same classic table games, the house edge can differ slightly. Also, thanks to new technology, classic tabletop games now have variants and bonus features like Platinum Roulette that increase the house edge for better or for worse, depending on your budget.

Conclusion

We are truly in the golden age of playing online casino games. The top game developers continue to use AI tools to help them develop new and exotic games at a faster rate. To outdo themselves, these new games usually feature new and innovative bonuses that impact the house edge. With great marketing and the chance to win bigger payouts, the thrill of beating the house only gets stronger.