As attractive the prospect of winning withdrawable money is, gamblers often forget that, first and foremost, casinos are businesses and not charities looking at squandering free money to those who enjoy their games. Like any business, when you engage with a casino, be it online or land-based, it’s backed by a business model designed to ensure its profitability.
Even if you’re not a regular online gambler, you’ve surely heard of the popular saying, ‘The house always wins’. And there is definitely truth to this adage, and it means precisely that – the casino (i.e. ‘house’) will always bag a profit whatever the outcome. This is true; even if you play some of your favorite NZ slots known for having the best house-edge, you can guarantee that your provider will not lose out on a win either.
It’s easy to be lured into a casino if money in the kitty is the potential outcome. However, before jumping in at the deep end, it’s essential to have some idea of what you’re getting yourself into. As much fun as you might have at an online casino, don’t forget it will always have the ultimate advantage, which ensures the customer is expected to lose in the long term. Sure, you might experience a little beginner’s luck at the start, but if you analyze your play over a more extended period, you’ll see the house come out on top.
Understanding The House Edge
Regardless of which casino you choose to play at or which game you pick, the odds of the casino winning you money will always be greater than the chances of you winning theirs. This is because all casino games are designed with a built-in house edge in order to limit the size of potential payouts.
The house edge is the term used to describe the mathematical advantage the casino has when it comes to winning each game. It ensures a guaranteed percentage of the betting money spent is always earned by the casino in the long term, and that percentage is set for the player’s loss. Sure, winning a casino game depends a lot on your luck, but the casino has more chance of winning than the players. At the end of the day, it’s the house edge that makes it profitable to run the casino. Moreover, it is this very profitability which explains why the gambling industry is such a lucrative one.
With that being said, the house edge varies from one game to the next. It’s best to stick to playing casino games with a lower house edge if you want to increase your chances of a win.
How To Beat The House Edge
Well, the truth is there are no hard and fast rules to beating the house edge. In fact, you can’t, and anyone who tells you that it’s possible is wrong. You can, however, increase your chances of success by incorporating a few techniques.
The first thing you should do is learn the games inside out. You can do this by taking advantage of welcome bonuses or no-deposit bonuses, which allow you to try out games without investing any money. Alternatively, you can start by placing small bets. This allows you to get some practice without losing a considerable sum.
Before choosing a game, always check the house edge. Playing games with a low house edge will increase your chances of success. Moreover, learning the game’s nuances and trying out different approaches until you find out which one is best for you will also lower the house edge further.
For example, some games feature special jackpots and wildcards. If you’ve built up some experience by practicing the game, you’ll know what these pop-ups mean and can use them to your advantage to maximize your wins. However, always familiarize yourself with the rules of the game by reading the fine print where wild cards are involved, so you fully understand how they work.
The Final Word
At the end of the day, that old adage about the house always winning is certainly no myth. Moreover, the degree to which gamblers have a chance of success depends on the house edge. Choosing to play games with a low house edge is an excellent place to start, but even the smallest edge only applies if the player is playing the odds perfectly, which very few people do.
Putting the laws of probability aside, joining a casino with the sole intention of winning enough money to retire isn’t the most sensible idea. The fact that you’re unlikely to win big shouldn’t put you off gambling. Even though most avid gamblers never win the jackpot, they continue to play because it’s fun, and there’s always a little hope of winning something. The key is to play for the love of the game without getting caught up in the act of chasing a win; that’s the real way to beat the house!