Understanding House Edge
House Edge is the profit that a casino makes from every bet, with the exception of Video Poker and Blackjack. It gives the casino a measure of the percentage that it can expect to keep, on average, from each game. This is a feature that is accepted globally which supports a policy of openness and clarity to players.
Based on a double-zero wheel, the house edge is relatively high, 5.26%. On European single-zero roulette, however, the house edge is much lower, around 2.7%.
In baccarat, the bet on the house is almost always better than the bet on the player. The house edge is 1.06% when the gambler bets on the banker and 1.24% when you bet on the player. The player is charged commission by the house on winning bets to get its edge.
In Craps depends on the bets the player chooses to make. Pass bet may offer an edge of 1.41%, and other bets can have an edge from 2% to 11%.
In video poker, the casino edge ranges because even when players play a good game, they could be looking at a small edge.
Online Keno normally has a house edge of 10% or less and land-based Keno can have a casino edge of up to 25%.
The house edge on blackjack changes with almost every game at every online casino you play at. With a good strategy, the house edge on this game is normally under 1%.
Most Aussie players tend to think that casino edge is the ratio of the loss to the total wager. If a player wants to figure out what the house edge is, there is a simple principle that can be applied. Aussie gamblers need to work out their chances of winning and multiply it by the amount they win. This should give them and idea of what their chances of losing are.