Gambling is a vice. A fun one. Pure entertainment. Exciting, and breathtaking. It offers so much in every department a man could ever desire. Or even a woman? Some people say it’s even better than sex. We beg to differ but everyone has a preference. What’s yours? Don’t worry we won’t get too personal in this article, but you can leave your opinion in the comment section. Online casinos changed the way we see gambling. Today, it’s everywhere. In the palm of our hands. Do you have a gambling app on your smartphone? I do.
Thanks to the manner in which gambling became more than available, more and more people play. More and more people hold various opinions on online casinos. One of those is that the players always lose and that the house always wins. Is this true? What do you think about this subject? Does it keep you awake at night? Is this all you can think about when you lay down a deposit at CasinoMIRA and start spinning those balls? If that’s the case, you have come to the right place. We love discussing gambling. You can’t argue, house edge, counting cards, and RTP are all interesting subjects for a conversation. So, let’s answer what you all want to ask. Why does the house always win at online casinos?
The House Edge
It all starts with the house edge. What is it? It is the margin of win probability. It favors the house. It doesn’t matter which game you play. The casino always has more chances of a win than you do. This is no secret. All games, in every casino, are designed in a way that the casino can always count on the profit. Yes, the players are also given the chance to win, but not as large as the one casino has of you losing.
Let’s use roulette as an example. Most players believe they have a 1 in 36 chance to win due to the 36 numbers available. They often don’t put things in perspective. The majority of today’s roulettes have a zero. Some even have a double zero. Let’s not even talk about the triple zero variations. But, roulette is quite fair. If you play only on colors or odd and even numbers the RTP is close to 50%. This is amazing. But, roulette is a game of chance, and that’s a bet every casino is willing to take.
From a financial standpoint, the house edge is the profit the casino expects to make from every game on its premises. It differs from game to game. As we said, with roulette the player can have a high chance of winning. He also has the same chance of losing. With most games, the house edge goes from 0.5% up to 2%, but it can be as high as 20% and go all the way up to over 40%.
Once again we’re going to use roulette as an example. American roulette. This variation uses both zero and double zero. This is quite interesting. Thanks to this little perk its house edge is set at 5.26%. Quite a return. What does this mean? Well, for every $1 million bet the casino will earn a little bit more than $50 thousand. The rest goes back to the players. That’s great right? Well, no. for the casino, it is a long game. They want you to play and they want you to play more and longer. They don’t want to dry out their players. They just want them to lose as little as possible to earn money and to give them just enough in return to have them play again. An enchanted circle one could argue.
Another vital stance in casino operations is RTP. This stands for return to player. Of course, players get a return. If they didn’t they wouldn’t be playing, right? The logic is simple. Players need a return and the casinos give it to them. One of the best examples is slot machines. They have a high RTP, set at close to 100%. In most cases, we are talking about 96% or 97%.
This sounds great, right? In theory, it is. In practice not so much. You need to bet $100 to get back $96. This is not a bad deal. You’ll play, have fun, and spend one hundred dollars only to go home with $96. Great! Not really. No slot machine will give you a payout of that kind in one go. For casinos, the RTP is a long game as everything else. The 96% RTP will be given to players but through a longer period of playing. Considering how random these games are, some players will hit major jackpots and think that they’re kings of the world, while others will curse their bad luck.
When you visit a casino, you are probably playing on a bankroll. Most of us have designated amounts of money we’re willing to spend gambling. For some of you, there’s no such a thing, and you’ll play till the last cent. Many players think alike. They will gamble until their fortunes turn around. Sometimes luck will strike them, and they will win. They will return what’s invested. But, in the majority of cases, in the long game, the players will lose. Even if you’re on a long stretch of winning, the casino doesn’t care. Their bankroll is not limited. It is almost infinite. They can play until the players run out of luck. They will wait and the returns will come. If you’re an avid gambler you can’t avoid losing. You can only limit yourself to keep it under control and play within a set bankroll. If you don’t do this the casinos will take your money.
It is important to understand that the house does win every time. They are designed in such a way as to make a profit. After all, they’re companies that sell a service. They need to earn to be sustainable. What players need to understand is that fun comes first with gambling, and earning is a side dish. Have fun, and gamble responsibly. The fact that the house always wins doesn’t mean there’s no fun in playing.