The American Gaming Association (americangaming.org) has a very informative pamphlet available for download under the responsible gaming tab on the home page titled “Casino Games – A Guide to understanding the Odds”.
It explains to gamblers that “no matter what casino game you play…games of chance are primarily based on random outcomes and cannot be predicted”.
Furthermore, no matter what the game, slots, craps, blackjack, video poker, roulette, “every game in the casino is designed to give the casino an advantage. This is known as the house advantage”.
The information reveals that even with games that require an element of skill, including poker, blackjack, and to a certain degree video poker, “skilled players can increase their chances of winning, however their outcomes also favor the casino over time”.
It’s a fact that house advantage is relentless. It is a mathematical certainty that is a component of gambling that can vary from game to game, region to region, and even from casino to casino.
Valuable information included in the pamphlet is a chart that outlines what a player with average skills, playing under standard rules, can expect to face in the way of typical house advantages in casinos in the United States.
For example, the house advantage on penny slots ranges from 8 percent to 12 percent, meaning that a player stands to lose $8 to $12 for every $100 wagered strictly from a house advantage perspective.
It is possible to lose the whole $100, or win a little or a lot, but the fact remains that players are always facing the built-in house advantage no matter what happens.
Other factors that impact house advantage are the length of time spent gambling, the speed at which you play, as well as the level of skill a player possesses and the amount of the player’s wagers.
It is noted that “as betting continues, over time, players are more likely to lose money rather than win. A player may lose more or less than the average house advantage”.
On quarter slots, the expected house advantage/loss per one hundred dollars bet, ranges from five percent to 10 percent. On dollars it decreases to 2.5 percent to six percent.
The video poker expected loss per $100 wagered has a wide range that starts at 0.5 percent moving up to five percent.
At “double zero” roulette the house advantage is a constant 5.3 percent.
The “pass” and “don’t pass” wagers at the craps table pack a relatively low 1.4 percent advantage. However if you move on to the “prop bets” the advantage the house wields over you zooms to 10 to 16.7 percent.
Sticking to the player/banker bets at the baccarat table keeps the house advantage to a low 1.1 to 1.2 percent. However, betting on the “tie” moves the advantage up to 14.4 percent.
Blackjack players, depending upon their level of skill, can play against a low house advantage ranging from 0.5 percent to 1.5 percent.
Knowing what you’re up against when you walk through the doors of a casino is essential to preserving the “fun factor” in your gambling outings.
BONUS ROUND-UP
FOUR WINDS: Four Winds Casino South Bend, the first Native American casino development in Indiana, celebrated the grand opening of its hotel complex this week. It was particularly gratifying for Four Winds chief operating officer Frank Freedman, who master-planned the entire project. His vision included not only a hotel, also meeting space, banquet facilities, outdoor pool and spa.
Recognizing the economic resurgence in South Bend, Freedman planned a 23-story hotel tower with 317 rooms, featuring 83 suites and hospitality suites which are oversized rooms on the fourth level designed to accommodate business meetings and other private events.
A major component of the development is the Ribbon Town Conference and Event Center, a 25,000 sq. ft. multi-use facility that boasts 16 meeting rooms, a ballroom with seating for over 600 people, two pre-function bar areas, a business center and outdoor pre-function space. It was designed to feature concerts and live performances as well.
HARD ROCK: The complimentary casino-side entertainment doesn’t get any better this weekend. Council Oak Bar Stage will feature 8 p.m. performances by Ivy Ford on Friday and Duke Tumatoe and the Power Trio on Saturday. Hard Rock Café Stage will spotlight 9 p.m. shows by Wayne Baker Brooks on Friday and Libido Funk Circus, now celebrating 27 years of live performances, on Saturday.
HORSESHOE: The best is yet to come at the World Series of Poker Circuit Event, which opened on Feb. 23 for a 12-day run. Event #9, a $400 no-limit hold’em tournament with a $100,000 guaranteed prize pool, begins today with Flight A. It will continue on Friday (March 3) and Saturday (March 4) with Flights B and C. Also on tap today is Event #10, a no-limit hold’em competition with a $1,100 buy-in.
It is difficult to believe that it has been three years since the WSOP Circuit last visited the Hammond property. COVID protocols forced cancellations of the 2020 – 2022 tournaments. The events at Horseshoe ranked among the most popular of all of the stops on the national tour.
The Main Event, boasting a $1-million guaranteed prize pool, begins on Friday with Flight A, continuing into Saturday with Flight B. The buy-in is $1,700 for this feature attraction, which will conclude on Monday (March 6) with the Final Table. The day’s festivities will also spotlight Event #14, a $400 no-limit hold’em tournament.
The last time the Circuit came to town, the Main Event drew 1,063 players which generated a total prize pool of $1,610,445.
On Sunday, March 5, Event #12 will match seniors, 50 years of age and up, for a $50,000 guaranteed prize pool. The buy-in is $400. Also on Sunday, high rollers with $2,200 to put up for a buy-in, will compete in no-limit hold’em competition in Event #13.
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