Foreword｜SuperAce88
Have you ever wondered why casinos never go bankrupt even when players win millions in a week? Putting it this way; the casino guarantees a profit whether the player wins or loses. But to the average gambler, it’s not clear how casinos can stay afloat when businesses are collapsing everywhere. Therefore, this article will unravel the secrets of making money in casinos.
How the House Edge Works｜SuperAce88
There is a saying that goes “the house always wins”. This makes some sense because every casino game you play gives the online casino a mathematical advantage in the long run. Typically, this edge is between 1% and 5%, although it can be as low as 0.50% in games like blackjack and as high as 12% in slot jackpot games. Therefore, the lower the house edge, the better the house’s chances of winning in the long run.
This is a practical example of how the house edge works in favor of the casino. Let’s say you want to play a slot machine that has a 97% return to player. This means that a player can win a maximum of 97 out of 100 points. Using this logic, you can easily calculate the house advantage by subtracting the RTP from 100%.
Now that you know the game has a 3% house edge, go ahead and figure out how much you lose on average per hour. For example, you spin 300 times per hour and you spend $2 per spin. In this case, assuming you win all the spins, you can expect to lose $18 per hour, which is unlikely. You can see that the higher the house edge, the more the casino earns from the player. So, play games with a house edge of at most 4%.
A free lunch isn’t free｜SuperAce88
Most players will do anything to join a casino that offers the biggest welcome promotions and frequent loyalty programs. Don’t blame them, because the thought of playing for free money is irresistible. Just deposit the minimum amount and claim your bonus, which may also include free spins. Sometimes you don’t even need to deposit any funds to claim the welcome bonus.
But the bonus itself is not a giveaway. These packages often come with strings attached, mainly wagering requirements. Casinos will usually dictate that you should play with real money a certain number of times before cashing out your winnings. For example, the terms could specify that you play 30x for a certain min/max amount before cashing out.
The thing is, the bonus ensures you play longer while the dealer’s edge is busy. If you are playing a game with an unfavorable house margin, it means that you are losing more than you are winning with online casino bonuses. This is why some players do not claim their bonuses at all. However, if you must claim, make sure you can meet the wagering requirements.
Tournaments Are Casino Cash Cows｜SuperAce88
Seasoned casino players know that operators don’t waste time inviting players to tournaments. New tournaments will start immediately and existing tournaments will end. Even better, they can host contests on a daily, weekly, monthly or weekend basis. The most common tournament games are slot machines and video poker, where the top three or ten players win prizes.
Note that tournaments use a completely different format than traditional casino games. While the chips have no monetary value, the casino will introduce tournament buy-ins. This is the amount a player pays to enter a poker or slots tournament. In poker tournaments, there is also a “rebuy” option, which essentially buys more game time. The money goes into the pockets of the casino.
Watch this; a casino can host a $100 poker tournament with a $130 buy-in. The extra $30 is a commission or management fee and does not count towards the total prize pool. This money is used to cover organizational expenses. So always play tournaments with a lower rake. Also, if there are 100 players in a tournament and the buy-in is $130, the prize pool should be at least $10,000. Don’t settle for less!
Don’t forget the commission｜SuperAce88
Commissions are another evil that most players have to live with. This is usually the amount you win on a particular bet. A good example is the house bet on roulette, where players must pay a 5% commission on each win. This may be because the house edge of this bet is lower than the Player bet.
Pai Gow Poker is another game where you have to take 5% of your winnings. The online casino’s theoretical edge on this game is 2.8%, and adding the casino’s 5% rake adds up to about 1.3%.
Unfortunately, there is little you can do to avoid paying commissions. If you are not the greedy type, then play the banker bet and enjoy more wins than the player. On the other hand, play no-commission Pai Gow poker games like EZ Pai Gow and 6-Card Fortune. But be careful as the house edge can be higher.
It’s all about math!｜SuperAce88
Without profits, most casinos don’t offer bonuses and other promotions that players love. Until now, they would call it a day after paying a player a jackpot. Believe it or not, these profits level the playing field for casinos as they are sure to get a slice of the action at the end of the day.
But as a player, don’t let the casino win your money too easily. Carefully choose the games that are the most house edge, rake, betting limit friendly, and if possible, play commission-free betting. Remember that even a 0.10% house edge is a house edge.
