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Why Are The Odds Always On The House?

Discussion in 'MODS CORNER' started by Sookie, Jul 2, 2014.

  1. Sookie

    Sookie Mother of Cats

    Why Are The Odds Always On The House?
    By Christina Applebaum



    Whether we see casinos as adult entertainment or whatever we like to call them, they are first and foremost one thing - a business! And what is the function of a business? To make money. So do casinos cheat you to make money? No. They don't have to. They have what is known as the "Casino Advantage" or the "House Edge".

    What Is the House Edge?

    Lets look at Roulette for an example. There are 36 numbers plus the 0 and 00 for a total of 38. Lets say you place a $1 bet on Roulette and win, you get your dollar back and the casino pays $35 for a total of $36. But wait...there are a total of 38 numbers on the table including the 0 and 00 aren't there? What about the other $2 (38 minus 36)? Divide the $2 by 38 which is the true odds and you come up with the casino advantage of 5.26%.

    Every casino game has an automatic profit on every bet built right in. This is the House Edge and how casinos are guaranteed a profit as a business. This is true of all games except Blackjack and Video Poker. In Blackjack the odds can actually shift from the house to the player and back again depending on which cards have been played.

    Last edited: Nov 4, 2014
  2. I_am_Loni

    I_am_Loni WELL KNOWN MEMBER

    It's really very simple: they are a business who has to pay its employees, the power bill, yada, yada, yada.
    Last edited by a moderator: Oct 26, 2014
  3. Sookie

    Sookie Mother of Cats

    ¬†Yes Loni that is correct¬†[​IMG]
    Last edited by a moderator: Oct 26, 2014

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