Casinos are one of the most popular forms of entertainment. This is, of course, because the thrill and excitement that casinos offer can only be matched by a few places. This combination of risk and reward keeps players betting even though they may be losing constantly.
With that said, understanding the risk and reward involved can be extremely useful when playing casino games. It can give you an idea of the games you should play, and the ones you should avoid. Also, knowing the games with the topmost payouts can help you manage your budget and bankroll correctly.
How Casino Payouts are Calculated
Before making your first bet, you should always find out how much your desired game pays out. Aside from helping you calculate your rewards and profit, knowing such information may also help you avoid dodgy casinos.
Due to a legal requirement by UK casino policies, most of the casinos in the UK publish payout lists in their sites. These lists are located in help pages, where they’re expressed as either house edges or payout percentages. Before calculating any odds and probabilities, you need to first familiarize yourself with these two terms.
The house edge refers to the percentage of a player’s original bet that a casino gets as profit. By understanding how the house edge works, you’re in a better position to judge correctly a games’ odds and decide how much money you can wager.
Casinos with a house edge of 2.5% essentially disburse 95 cents for each dollar. Most casinos offer between 2-3% as house edges, meaning any percentage higher than that should be wagered on with caution.
Payout percentages are very similar to house edges, though they’re mostly used in casino slots and other related casino games.
Can some casino games payout 100% or higher?
Do games that always guarantee a profit exist? Put it simply: no. It’s a sad reality, but it makes sense. Casinos exist primarily to make a profit, and offering such games would be disastrous for them in the long run. Negative house edges mean online casinos are making very little money if any at all.
The good news is that there are games, including casino slots, that come close to such a payout. Wagering on some games may give you a slight upper hand compared to the less paying games. So, what are these games?
Among casino games, Blackjack offers the most favourable odds. No wonder it’s a fan favourite. The average house edge for the game is under 1%, and you may be lucky to find even a 0.1% percentage.
If you employ an effective strategy, you can make a small fortune from the game. And while the house edge is purely theoretical, you can scale your earnings easily. But you should also realize that the game has different variations, and each of them guarantees different payments.
Craps can be a bit complex to players who are just starting. It offers many kinds of bets you can wager on. But despite its complex nature, it is fairly easy to master. It ranks second best for valuable house edges at an average of 1.2%, and some casinos can offer as low as 0.60%.
Beginner players can make some profit playing the game, with bets like the Pass Line which guarantees a return. And as you’re gaining more experience, you can venture into other bets that provide greater earnings.
Our third-ranking game is the popular Roulette. It’s one of the easiest games to master, and even beginners can participate in. You simply chose a number; the game’s dealer then rotates the Roulette wheel. If the dealer picks your number, then you win.
Roulette in casinos has a house edge of 2.7% and 5.26%. The first one is for single zero, and the second for double zero.