Gaming

Project Your Gambling Losses Before You Play

You can project with some accuracy how much you will lose when you gamble. If you know the house edge, you can better determine what games to play and which ones to avoid.

About 75% of people who visit Las Vegas will gamble during their stay.  This includes those whose purpose in coming was not to gamble. It seems the lure of gambling is just too strong to resist.

The question is how many people who do partake of gambling in one form or another, have any idea of what the odds of winning are? The edge is always with the house, but that edge can be very small or very large. One would have to conclude that too many players don’t know these odds or they wouldn’t play.

We will just share some basic facts with you that may help you decide whether or not to gamble. It may also help you decide what game you will want to play if you decide to take a chance. It is understood that some people play games they love even though they are not the best games as far as the odds go. Obviously, slots that have bad odds literally litter the floors of the casinos.

According to a publication by Caesars Entertainment, and you can find similar information at Wizard of Odds. these are the odds of various games. You can project how much you will lose for every dollar bet. Of course, you can win, but the odds are against you.

Slot machines:

House edge is, depending on the denomination anywhere from 2.5%-12%. This means for every $100 you gamble you can expect to lose $2.50 to $12.00. Note: Since casinos can legally set their slots at 75% payout the house edge can be much higher on any one particular machine.

Baccarat:

House edge is, when betting on the Player or Banker, 1.1%-1.2%. A tie brings the edge up to 14.4%. This means for every $100 played you can expect to lose $1.10-$14.40.

Blackjack:

House edge is 0.5%-1.4%. Therefore, for every $100 bet, you can expect to lose $.50 cents to $1.50. Blackjack is one of the best games to play for its great odds.

Craps:

House edge if you play the Pass or Don’t Pass lines is 1.4%. For every $100 bet, you may lose $1.40. Another one of the best games to play for its great odds.

If you play the Prop Bets the house edge leaps to 10%-16.7%. Then, the math for each $100 bet calculates that you may lose $10-$16.70.

Roulette:

House edge on a double 0 wheel is 5.26%. On a single wheel it drops to 2.7%. For each $100 bet you stand to lose $5.26 to $2.70. Venetian now has a 3 zero game that increases the house edge even more.

Keno:

House edge when playing 1-15 spots is 25%-30%. This means each $100 bet may cost you $25-$30. It’s a pretty expensive game. You would have to love it to play these odds.

We hope this article will help you bet smarter and win bigger know that you can project the odds of winning and losing. Always have fun and know when to quit. Then, you will have no regrets.

 

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