Which Casino Games Have the Best Odds?
In 2021, the world's online gambling market reached $57 billion. It's estimated the market will keep growing by almost 12% per year, and online and mobile casinos are driving this growth. When you're looking to win money playing casino games, it's important to realize that the odds are not in your favor.
The Wall Street Journal released the results of a two-year gambling study. One of the facts that people need to realize is that only 11% of online gamblers ended up winning money, and the normal winnings were less than $150. Only 5% of the bettors in the high rollers category won more than they wagered. Statistically, you have a 30% chance of winning anything.
Taking that into consideration, there are ways to increase your chances. It all comes down to the house edge and finding games with the lowest house edge.
Understanding the House Edge
Every casino, whether it's online or land-based, has a house edge. This is the chance that you'll win against a dealer or when playing an online casino game. The house edge always favors the casino, that's important to realize. There are no games where players have better chances of winning than the house, and that's normal as the casino wants to make money. The house edge ensures this happens.
Roulette is a good example. If a Roulette table has both 0 and 00, the house edge is usually around 5.3%. The casino keeps that much money and over time (we're talking lots of time) the remaining 94.7% of bets are returned to players. This doesn't mean 94.7% of bets collected in one day are awarded to players. It's often a span covering months or more likely years. Meanwhile, a table with 0 has a house edge of 2.7%. Lower puts the odds more in your favor.
Slots have their own house edge. You'll see it reported as the game "return-to-player" or RTP for short. Slots are one of the hardest games to win, but they often have some of the biggest prizes, which makes them so appealing.
What Games Are the Best for Players Who Want to Win?
You want a game that has the lowest house edge. There are three games that typically have a house edge that's under 1%, and that's what you want. Investopedia keeps an updated guide to the typical house edges for casino games. The next time you log into an online casino, try these games.
Blackjack: House Edge - 0.28T
Blackjack is one of the best to pay as you have a 50/50 shot of winning. In this luck-based card game, as long as you don't take tremendous risks and follow some simple rules, it's not hard to beat the dealer. Plus, the dealer has rules to follow, such as always standing on 17.
Craps: House Edge - As low as 0%
The house odds in this dice game can be as low as 0%, but this is for bets where you're sticking to wagers on things like Pass/Come, Don't Pass/Don't Come, Odds, or Place. With that type of bet, it's a 50/50 shot of winning.
Roulette - House Edge - 2.7%
Roulette is another game where your odds of winning are just about 50/50 providing you bet on red or black. If you want a better payout, avoid betting on a single number and instead bet on a range of numbers, such as 1 to 12.
Video Poker (Full Pay Jacks or Better): House Odds - 0.46%
While online Poker can be hard to win, the video poker game Full Pay (9/6) Jacks or Better has much better odds. You'll win if you get a pair of Jacks or better, which isn't that hard to do.
What Games Should You Avoid?
Keno's house edge is not in your favor. At nearing 30%, the house edge on Keno makes it a very hard game to win. Poker is another game to use caution when playing. Video Poker can have very favorable house odds, but many others are harder to win, especially if you're playing online poker in a live dealer casino. You have no idea who you're playing, and there could be a pro at the table.
Slots aren't the best choice. Sure, they're fun, especially if they have pick 'em and interactive bonus rounds, but the odds of winning are low. If you really want to play slots for real money at your favorite online casino, check out the slot game RTP first. Steer clear of games with an RTP in the low 90% range.
No matter what you want to wager on at an online casino, be smart. Look for free chips and free spins offers. Try a casino out using their money first. If you like what you've played, at that point make a small deposit. Always read the rules before you claim a bonus code though. If you're not okay with the wagering requirements or cashout restrictions, skip using a casino incentive.
Keep your bets small and set a daily limit. If you're okay with losing $20 a day, make that your limit. Once you hit that amount, stop for the day. Never exceed what you can afford to risk. When you use those tips and watch what you play, online casinos can be a lot of fun and very rewarding.