A casino is just like any other business, not a charitable organization. It needs to be able to make a profit to survive and thrive. Certain built-in advantages, like the house edge, keep it profitable. Yes, the house always wins over the long term, but this doesn’t stop people from playing casino games. The house edge increases when players don’t play as well, and they can reduce it if they play the odds perfectly.
The house edge
No matter what casino games you choose to play, they provide the house with a built-in edge. On games with a lower house edge, the casino may only generate a small profit. Games like blackjack and video poker have a low house edge. In other games, it can make larger profits. A game like Keno typically has a house edge of between 20% and 40% based on the specific rules and game payouts.
The idea of the house edge isn’t to rip you off or bankrupt you in one sitting. It’s over the long haul that the house edge will come into effect. This is why casinos take various measures to keep you playing for longer.
When playing online casino games, the house edge on games is usually lower. Online casinos don’t have as many overhead expenses as land-based casinos. Online casino games can have a house edge as low as 0.5%.
Return to player (RTP)
The RTP is how much money on a game goes back to the player as winnings. Online slot games usually have an average RTP of 96%. A high RTP is more viable for online casinos that don’t have the same expenses as brick-and-mortar casinos. They typically offer low RTPs that may even go lower than 90%.
Why do people choose to gamble if the house always wins?
Most people gamble for entertainment and for the possibility of being able to win some money, however small. Those who think of big wins and focus on these are often disappointed.
Individual players can still win in the short term, but whatever the player wins, the casino will recoup the money from the many other players who lose.
A good example is the roulette wheel, where the chances of someone winning is only ever a little more than 50%. Individuals will win at times. However, no matter how much the casino pays out, it will never be more than it can collect from player losses.
If you want to get new ideas on how to make money, you should focus on other activities rather than trying to win big money at a casino. There is always a possibility that you can win, but it is a small one.
