E:8 Understanding House Edge 101
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- The Edge with Mark Thompson - Secrets of a Casino SuperHost
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Understanding House Edge 101
- In short, what is the House Edge. How do I find it? What does it mean?
- House edge is accomplished different ways for different games.
- “The house edge is the percentage of money that the player can expect to lose on each bet, averaged over the long term. The payback is the percentage of money the player can expect to get back from each bet, averaged over the long term. If the payback rate is less then 100%, as it is in all commercial gambling, it means that on average the player will lose money. The house edge and the payback add up to 100%. In American roulette the payback percentage is 94.7% and the house edge is 5.3% (94.7 + 5.3 = 100%).” *
- Comparisons on Hands per Hour v. House Edge for Casino Comp Purposes **
- Frequent Players v. Infrequent Players ***
- How does betting progression effect your bankroll and volatility ****
- Here are some great links on the subject…
- * https://www.problemgambling.ca/EN/ResourcesForProfessionals/Pages/GamblingandtheHouseAdvantage.aspx
- ** http://wizardsofodds.com/gambling/house-edge/
- *** http://crapspoopshoot.blogspot.com/2016/06/straight-talk-about-house-edge.html
- **** http://www.americancasinoguide.com/general-casino-gambling/volatility-in-casino-games.html