In a previous entry discussing the point spread, over/under and money line wagers at sports books, I mentioned that the house typically charges an extra 10 percent on point-spread and over/under bets. To win $10, you must bet $11.
Bettors are sometimes misled into thinking that gives the house a 10 percent edge, which would be very high casino standards.
Actually, the house edge is 4.55 percent. Here’s how it works:
Sports Betting and House Edge Read More »
Players who try to sort good bets from the bad sometimes find difficulty with new games that involve more than one round of betting.
Those games have two figure that could fairly be categorized as house edges. A reader recently pointed out that wizardofodds.com lists a house edge of 4.91 percent for Mississippi Stud Poker, but also an element of risk of 1.37 percent.
Mississippi Stud House Edge and Risk Odds Explained Read More »
I’m often asked, “How does the casino gets its edge,” and the basic answer always is, “By paying winners less than the true odds of winning.” Casinos take your full bet when you lose, but pay only a portion of the true odd when you win.
How Does the Casino Get Its Edge? Read More »
Earlier this year, I was asked to speak to a group of inexperienced players before their casino trip. One who had just started playing blackjack said he was confused over why the house had an edge. After all, the dealer is stuck hitting or standing according to set rules, while players can make decisions, and the dealer can’t double down, split pairs or get paid 3-2 on blackjacks.
Why Does the House Have an Edge in Blackjack? Read More »
A couple of months ago, I walked through the arithmetic for the house advantage on the pass line in craps. It’s quite a lengthy calculation with a number of factors, but enough readers followed along that it brought a few questions.
How to Calculate House Edge in Roulette Read More »
I’m always looking for tales of unusual things that happen in casinos. One came my way from a reader who wanted to share his experience with a big cash player.
