Online casino games are all about odds and probabilities and although a probability tool won’t come in handy for many gamblers, they can help you base your decisions when placing bets. Ultimately, online casinos win in the long run since the house edge always works in their favour.
Some players think that the casino game with the lowest house edge is blackjack, only because they think it is a game you can easily beat. If you keep on making bad choices when playing online blackjack, the house edge will shoot up. If you use a basic strategy, the house edge can be as little as 0.5%
If you don’t have a basic strategy in place, you might be best playing a game that has a low house edge and where you would not be required to make any decisions such as the game of baccarat or craps, provided you make the right bets.
One of the most common mistakes gamblers make is to assume that the house edge is deducted per hand or game played when they calculate odds. For example, if you assume the house edge stands at 2%, you might calculate how much money you will have after say 100 games at an average loss of 2%.
Games, however, don’t work this way. When you are playing with probabilities, you must look at the wins to losses ratio and calculate the cost of each bet. Your best bet would be to win the most on each winning game.
There are some little tips and tricks on how to improve your chances of winning. The probability tables do help you in making the right choices but they can help you so much.
Play European Roulette instead of American Roulette
A casino’s advantage over the player is measured by a simple calculation known as the house edge. It is a mathematically expected loss per bet expressed as a percentage.
Let us give you an example. If a game has a house advantage of 5%, that means that you are expected to lose an average of £5 every time you place a £100 bet.
Since the European roulette wheel only has 37 numbers when compared to 38 numbers on the American roulette wheel, the house edge stands only at 2.70% instead of 5.26%.
You can play European roulette at the following online casinos:
Play more video poker
When we talk about gambling machines, the focus is less on house edge and more on the payback percentage. The payback percentage is calculated by subtracting the house edge from 100%. It is the sum of money you would expect to win back in the long run.
Since online casinos don’t list their payback percentage, there isn’t a realistic way of knowing so you’d have to guess. When it comes to video poker, if you play them well and look at their pay table, they tend to pay much more.
You can also determine the payback percentage of a video poker machine based on its pay table.
Have a strategy in place
One of the most popular games at online casinos is blackjack but if you don’t have a basic strategy in place, you are risking a house edge of 4% or more. Having a strategy in place can reduce it to something between 0.5% and 1 % depending on the variant and terms of the game.
So, what’s a basic strategy for a game of blackjack? You need to play the best mathematical move. Make the wrong decision and the house edge will shoot up. You can read more strategies and tips for the game of blackjack here.
Stick to the simplest bets
When it comes to the game of online craps, stick to the most basic bets. Since the number of bets in craps is massive, it is also the game with the best odds. The inside bets have a much higher edge.
It would be best to bet on the pass and don’t pass bets since the house edge stands at 1.41% and 1.36% respectively.
Take a break
This won’t boost your chances of winning, but it will surely reduce your losses. You should think of the house edge as a tax on the money you are betting. Each time you place a bet, you pay this tax.
The player who plays slowly, also has more fun, since they are paying more attention to what is happening and mulling decisions over.
Keep on learning
Here’s a little tip you should know: The easier a game is to play, the higher the house edge will be. Games such as blackjack, where a strategy would come in handy, offers much better odds.
Similarly, with online slots, the more complicated a slot machine is, the higher the house will be especially if they have extra features.
It would be best to find an online slot with 3 reels as you are more likely to win more.
Overall, online casino games are created with a mathematical house edge, which tends to fluctuate from one game to another. Your main goal as an online casino player is to have as much fun as possible according to the money you are spending.
Of course, as we have mentioned time and time again, have a set loss limit from the start so you don’t go chasing after your losses.
You should also pick online casino games with the lowest house edge. This will help you pick your games more wisely and you will lose your money a lot more slowly with a better chance of walking away as a winner.
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