The house edge of casino games ultimately determines how much you’re going to lose in the long run. The amounts you’re going to bet are also a big factor.
This is because you’re looking at how much you’re going to bet on the outcomes and how many bets you’re going to place per hour. If you multiply all these factors by the house edge, then you arrive at the calculation of how long you can do with your budget.
The cost of the house edge
You can calculate the house edge by calculating the difference between the winning chances and the payout chances. For example in roulette you have a chance of winning 37 to 1. The payout for this bet is always 35 to 1. This percentage indicates how much profit the casino can make in the long run. In roulette you can expect a house edge of 5.26 percent.
So every time you bet 100 euros, the casino earns 5.26 euros from you. However, this is always in the long run. In the short term you can still make a profit. So with a single bet you can lose $ 100 and win $ 3500. As you can see, you can never lose 5.26 euros per round.
Banker is the best bet in baccarat
The cost of baccarat
On average, baccarat allows you to play 70 hands per hour. To calculate how much it will cost you, you can assume the lowest possible roll and the minimum bet. In Las Vegas, for example, you can find as a minimum 10 euros per round. This does mean that you will need 700 euros to play for an hour.
In the longer term, your loss will be determined, among other things, by the bet you’re going to place. This is because the house edge is going to differ with this as well. If you go for the banker bet, you will have a house edge of 1.06 percent. With a player it is 1.24 percent and with a tie it is 14.36 percent. The smartest players therefore always go for the banker bet. The expected loss is 7.42 percent.
In baccarat, however, you should keep in mind that there are no other skills involved. After all, all you need to know is that you need to bet on the banker.
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The cost of blackjack
Blackjack has the best odds of beating the house at almost any casino. However, you need to master the basic strategy to be able to enjoy the low house edge. It seems impossible, but it’s actually quite simple.
With the best basic strategy, you can reduce your house edge to 0.4 percent. If you then assume a minimum bet of 5 euros per hand and have a full table, you will be playing about 60 hands per hour. This means that in one hour you have to bet 300 euros. The expected loss will therefore be only 1.20 euros.
Even if you have not yet mastered the basic strategy, you will never start losing as much as you do with other casino games. Despite all the mistakes you make, you can still enjoy a house edge of 2 percent. The expected loss then comes to only 6 euros per hour. Blackjack will therefore always remain cheap for you as a player.
The cost of craps
Craps has a large amount of stakes. Therefore, it is not always easy to look at the house edge of the game. In order to provide some clarity, we look at the pass line bet. This is the bet that is placed the most and where the house advantage is 1.41 percent.
With that said, imagine that you have a bet of 3 euros at a time. You get 100 dice per hour, only 30 of which will give you a decision. This is the number you should use to calculate your average loss. You will therefore be betting 90 euros per hour, which eventually leads to an expected loss of 1.27 euros.
You could then say that craps is as cheap as blackjack. However, most gamblers start with several bets at the same time. Therefore, you will soon start spending more money than mentioned in the above example.
The cost of roulette
Roulette tables can have either one or two zeros. The version with two zeros is also called American roulette. Its house edge is 5.26 percent. You could therefore say that it is one of the more expensive games to be found in the casino. However, the opposite is true.
Always choose European roulette
In roulette you can find bets of 5 euros per round. In doing so, you only have 50 spins per hour, which means you need 250 euros. With the house edge, you can expect an expected loss of 13.15 euros per hour. That is, if you play American roulette.
You can also lower your bet, which means you’ll suffer a smaller loss than you initially would.
The cost of slot machines
Slots are the most expensive games you’ll encounter in a casino. Despite the fact that you can bet much less money in these slots than in the table games, at the same time it is much faster. This is because you can bet a lot more money in an hour since there are 600 spins on the reels.
There is also a minimum bet that you have to take into account. Even in slots where you only have to bet one eurocent, you will soon have to pay more.
For the following example, a minimum bet of 9 cents is retained. In order to play the 600 spins, you will need to wager 54 euros per hour. However, the house edge at most slots is 15 percent. You can easily lose 8.10 euros per hour because of this. Remember that your bets are much lower, but at the same time you have lost a lot more.
With higher stakes, you can also lower the house edge. Even though you can then lower it to, say, 8 percent, you’re still dealing with 48 euros in expected losses when you bet 1 euro per spin. This can take a lot of the fun out of playing.
The Costs of Video Poker
Video poker initially looks like a slot machine. However, there are many more variations within the game and you can also choose from variants of poker. The pay tables can also be adjusted if you are dealing with the most advanced machines.
The game Jacks or Better is used as an example. It has a house edge of 0.46 percent. The minimum bet for this game is 1.25 euros. Also with video poker you can expect about 600 hands per hour. This gives you a budget of 750 euros. Thanks to the house edge, your expected loss per hour is 3.45 euros. So in this respect, video poker is already better than the slots in the casino.
However, you still have to deal with the pay tables. This is because these can also result in a higher house edge. If you don’t pay attention, it will result in high costs as well.
Conclusion
The different games all have different costs. Depending on your choices, you can also expect different house edges and winning chances.
So how much does your favorite game cost in the end? Some people are going to be pleasantly surprised. Especially with blackjack or video poker.
Despite the fact that you could keep the costs relatively low, you should still consider gambling only as entertainment. Only then will you get as much pleasure from gambling as possible.