The thrill a gambler has whenever he spins the reels on his favorite slot or sees an ace combined with ten while playing blackjack is unparalleled. This is exactly why players from all over the globe keep rushing to the casinos. The vast majority of them know the most important thing – the house always wins. However, it by no means prevents them from enjoying one of their favorite pastimes. There are also others who do not even realize this and believe they have what it takes to beat the house long-term.
The rise of the online gambling industry
Online gambling has never been more popular than now. New casinos keep emerging on a daily basis around the world, each offering lucrative welcome bonuses and hefty promotional rewards. The players are truly spoilt for choice in such circumstances. Golden Nugget Online Casino is a textbook example of a modern-day online gambling hub, offering the players a wide range of gaming options and an attractive set of promotions. From slots to table games and live-dealer variants, there is something to meet anyone's desires. But have you ever thought about what's in there for all these casinos? Why do they keep emerging? Can it be such a profitable business?
What is the house edge?
The answer to the questions listed above is very simple. Casinos do not represent charitable organizations. Casinos are businesses, and as such, they have a pre-designed model to ensure long-term profitability. The model is known as the “house edge”. It represents an advantage the casino operator has over the players. Regardless of the game you play, a casino will always have better odds of winning than you because of the edge that is installed into every single game. It means a regular player has absolutely no chances of staying profitable in a casino. You can win money occasionally, but if you are a regular gambler, there is no way you'll end the year in profit.
The best way to explain the house edge would be through roulette. Roulette is one of the most popular casino games in the world. It has numbers from 1 to 36 and the highest payout for a single number of 36 to 1. However, roulette also has a zero (European), and sometimes even a double zero (American), meaning the true odds for winning should be 37 or 38 to 1 instead. So, the house edge is the gross profit a casino operator expects to make from the games it hosts. At some games, it can be as low as 1%, while at others it can go up to sky-high 25%.
How to beat the casino?
There is no adequate answer to this question because casinos are unbeatable if you play fair and square. What you can do is cut the losses by playing the games with the lowest house edge such as blackjack, video poker, craps, and baccarat. Roulette aficionados should always choose European over American because the former has just a single zero. The house makes the biggest advantage on slot and keno machines, meaning you should consider minimizing the action on these.
In the end, always know that the longer you play, the higher is the chance you will lose money.
