Breaking Down House Edge in Live Casino Games
The house always wins. I know it. You know it. Everyone who has ever gambled knows it. But how exactly does the house always win? It's called the house edge and today we're going to take a look at some of the favorite live dealer games and breakdown their house edge in hopes of giving players a little more knowledge to take into their next gaming session. Let's dive in!
What is house edge?
The house edge is the ratio that represents the casino's - or house - advantage when a player places a bet. In other words, the house edge is how a casino makes its money. If the percentages skewed too heavily towards the players then casinos would be going out of business left and right.
So let's say for example that a house edge is 2%. That means the house can expect to keep $2 from every $100 wagered. Those are both averages over a long period of time - if you think about how many bets are placed in a casino then you can see how a house makes their money.
Now while every game comes with a house edge, not all of them are the same. Some come with lower house edges while some come with higher ones. We're going to breakdown some of them today so that the next time you sit down for a live dealer session you'll hopefully be better equipped to take on the house - and hopefully win a little money!
Blackjack
Blackjack is one of - if not the - most popular live dealer games. The house edge in blackjack is influenced by the number of decks used. A single-deck game of blackjack comes with a house edge of about 0.5%. However, most of the live dealer blackjacks available use multiple decks. This increases the house edge to around 1.5%.
Players can affect the house edge by implementing basic strategies - for example if you're sitting on a 12-16 and the dealer is showing a low card, the play is most always to stay. Another thing look for is the blackjack payout. More and more casinos are starting to go with payouts of 6:5 for hitting blackjack. Those odds favor the house by paying out lower. The good news is most live dealers still use the 3:2 payout, so always be on the look out for those tables.
Roulette
Roulette is another player favorite because it comes with a variety of ways to win - and each comes with its own set of odds and house edge. The biggest factor when determining house edge for roulette is the type of roulette you're playing. There's the American version - which has a 0 and 00 slot - and the European version which only has a single 0 slot.
The house edge for the European version is 2.7%. The American version jumps to 5.26%. That's why all the experts prefer to play the European version as it gives players a sightly better chance of winning.
Baccarat
Baccarat has different house edges depending on the bet you place. As we all know, baccarat allows you to bet on the player, the banker or a tie. The house edge for betting on the player is about 1.24%. A bet on the banker has a house edge of 1%. The tie bet - which is more risky - comes with a house edge of around 14%.
The low house edge for the player and banker bets is why baccarat is one of the most popular live dealer games.
Sic Bo
Sic Bo is rapidly becoming a player favorite as more and more casinos are adding it to their live dealer sections. There are a number of bets a player can place in Sic Bo and they have some pretty differences.
For example, a big or small bet - which is one of the more basic Sic Bo bets - comes with a house edge of 2.78%. A double bet on the other hand has a house edge of 33.33%.
Craps
Craps is another game where players have a multitude of bets - and a multitude of house edges to navigate. One of the most popular bets in craps in the pass/don't pass bet. That bet has a house edge of just 1.36%. A bet of any 7 has a bigger payout but a house advantage of 16.67%.
Tips on how to mitigate house edge
Players are never going to get rid of the house edge completely. It's always going to be there. But there are some things you can do to navigate it and hopefully maximize your wins and minimize your losses.
- Select the right game
If you're more comfortable playing blackjack over craps then stick to blackjack. Playing comfortably is a big benefit as you'll be more relaxed as you play. Choosing the games with lower house edges - like blackjack and European roulette - also give you a better chance at coming away with some wins in the long run.
- Avoid those risky bets
Sure, we'd all like to hit a bet with a payout of 50:1. But those bets also come with the highest house edge - usually 20% and up - and are the reason why they rarely hit. If you live and die with these risky bets the odds are you'll be wiped out in no time.
- Bankroll management
Have a plan and stick to it. Don't get frustrated with a string of losses, deposit more and start betting emotionally. You'll end up deeper in the hole than you started. Bet smart, play basic strategies and stick to bets with lower house edges and you'll maximize your winning opportunities.
Conclusion
Understanding the house edge to your favorite live dealer games is an integral part of having a positive gaming experience. By familiarizing yourself with these odds, you'll be able to put up a better fight against the house. Good luck!