Guide to Casino Odds
At first thought, it's easy to assume that live casino games are the exact same as online casino games, but that's definitely not the case. For novice players especially, the excitement of gambling can make them unaware of the different odds and house edges in each gambling setting. Despite majority of people gambling to have fun and relax, it can be a good avenue to making a considerable amount of money, given the studying and patience. Therefore, knowing how the odds differentiate from live and online casinos in specific games will give you an advantage in the long run.
Online and Live Casinos - How Odds Differ
A pre-conceived idea of online casinos is that they are less legitimate and favourable to customers due to the fact that it's available over the internet and in a virtual world. However, this isn't the case, online casinos have a number of advantages over live casinos.
Firstly, with online casinos, there isn't a limit of space and a set amount of tables they can open for service. Therefore, live casinos have to try and make as much money as they can but still make the games appealing to customers. With online casinos, they can offer different games which are beneficial to you, such as roulette. Roulette can be played in two different versions, which are American roulette and European roulette. American roulette is played with 38 numbers and offers a double zero option as well as the single zero. This ultimately results in an increased house edge, to a total of 5.26%. Whereas, European roulette is played with 36 numbers and only has a house edge of 2.7%, giving online customers an incentive to play a version where they are more likely to increase their return on investment.
Secondly, online casinos aren't subject to local regulations which allows them to offer better odds in all kinds of games. The flexibility that online casinos hold, makes them much more appealing to customers and gives them a better chance of winning. Due to live casinos having strict and set payout structures, they can only offer specific payout options to their customers.
These examples alone, show how online casinos have an upper hand when it comes to attracting customers and providing the best possible odds and payouts.
Which Games Have the Best Odds
Roulette
Whether it be from stories you've heard or clips you've seen in a film, majority of people have heard of the game roulette. Roulette is probably the most popular casino game available to customers and offering good odds is one of the main reasons for that. Whether you are a conservative or adventurous gambler, roulette gives you the option of making different types of bets which results in the odds constantly changing. Studying the odds is essential for every serious gambler, therefore the following table will help you understand how the odds work within the game.
| Bet Type | Example | Payout | Probability |
| Odd | 1,3,5,7,9 etc | 1:1 | 48.6% |
| Even | 2,4,6,8,10 etc | 1:1 | 48.6% |
| Red | All red numbers | 1:1 | 48.6% |
| Black | All black numbers | 1:1 | 48.6% |
| 1-18 | 1-18 (first half) | 1:1 | 48.6% |
| 19-36 | 19-36 (second half) | 1:1 | 48.6% |
| 1-12 | 1-12 (first section) | 2:1 | 32.4% |
| 13-24 | 13-24 (middle section) | 2:1 | 32.4% |
| 25-36 | 25-36 (last section) | 2:1 | 32.4% |
| Single Number | 1-36, any number | 35:1 | 2.7% |
As shown above, majority of the odds are fairly small risk apart from the single number bet type. This gives players to take more of a risk with the opportunity for a big reward, making this game suitable for different people and their betting styles.
Blackjack
Blackjack is much different from roulette as there is a skill edge that players can learn, despite it being frowned upon with live casinos. The simple aim of the game is to get the value of your hand closest to 21 against the dealer’s hand. A player will be given two cards against the dealer’s one face up and face down card. The player will have the option to draw or stand based on the card the dealer is showing and the total that the player holds at that time. If the player goes over 21 then their hand is bust, if they stand on a lower amount and the dealer busts, then the player wins. The typical payout in this game is 1:1 for each hand, with the added incentive of a 3:2 payout if you are dealt 21.
Which Games Have the Worst Odds
Progressive Slot Machines
This specific game can seem like a good opportunity to win a huge amount of money for little risk, but as tempting as they might seem, they are the worst games available in casinos. The house edge for these machines usually ranges from around 11-17%, which is heaps. Another negative of this game is that it's a really fast format which quickly takes a lot of money out of your pocket. A trap to try and avoid is chasing the jackpot these games offer, the house edge is going to take a significant amount of money off you if you don't get lucky.
Three Card Poker
This game has some similar aspects to progressive slot machines as the pace of the betting is fast and the unrealistic odds of hitting some of the big payouts attract customers. Admittedly, the house edge in this game is only 2.7%, but chasing the bigger payouts is where the house make their money. Making a straight flush in this game is typically 35:1 with a probability of only 0.22%. Whereas, hitting a pair is 1:1 with a probability of 17%. If you do try your luck in these games, it's important to stick to an amount you can afford to lose and not chase your losses hoping for a big payout.