The casino will pay true odds on this second bet, based n the probability of the point number coming up. These true odds bets reduce the house's edge in craps to less that 1 percent. Next to blackjack played with extreme discipline, this is the best bet you'll have in casino. The odds on slot machines are terrible. Casino Gambling Games with Decent Odds For gamblers, four casino games offer decent odds. That is, if you made a hundred $1 bets at these recommended casino games, your average loss would only be about a buck. These odds aren’t good enough to retire on, but they stretch your bankroll as far as possible, even if you’re on a limited budget.
Casino gambling can be fun, exciting, and a little nerve-wracking. Knowing which casino games have good odds in your favor (gamble on these!) and which ones to avoid will help you to keep your cool — and as much of your money as possible. By making your money last, you extend your playtime; so manage your money wisely.
Casino Gambling Games with Decent Odds
For gamblers, four casino games offer decent odds. That is, if you made a hundred $1 bets at these recommended casino games, your average loss would only be about a buck. These odds aren’t good enough to retire on, but they stretch your bankroll as far as possible, even if you’re on a limited budget.
Neither life nor gambling offers any guarantees, and your actual daily results may be far different than your theoretical loss, so plan accordingly.
Jacks or Better Video Poker (the 9/6 Version)
The 9/6 version of Jacks or Better is considered full pay because you get a payout of 9 for 1 for a full house and 6 for 1 for a flush. The 9/6 version is the only one whose payout rate makes it worthwhile to play. Tips for playing this game well include:
Make sure you’re playing a full-pay 9/6 version by looking at the Full House/Flush payouts for one coin.
Because of the increased payouts for a royal flush, always play the maximum coins to get the best odds — even if that means finding nickel or quarter machines to stay within your bankroll.
Never keep a kicker (a high card along with a pair).
Throw away a small pair (tens or lower) if you have four cards to a flush or three cards to a royal flush.
Blackjack
The way to win at Blackjack is to get better cards than the dealer. The aim is to have your cards add up to a maximum of 21.
Play the table with the least number of decks.
Stay away from gimmick games like 6-5 blackjack, Spanish 21, or Super Fun blackjack.
Remember the following important tips
Double down on 10 or 11 when dealer shows 2 to 9. (To double down means you double your bet and are allowed just one more card.)
Stand on 13 to 16 when dealer shows 2 to 6.
Hit on 12 to 16 when dealer shows 7 or higher.
Never take insurance.
Craps
Rolling two dice is the essence of craps and what number those dice add up to determine whether bettors on the Pass line win or bettors on the Don’t Pass line do. A new player’s first roll is her come-out roll, and other players wager on what the shooter will roll. The smartest strategy is to stick to the following bets in craps:
Pass line bet with odds bet
Come bet with odds
Don’t pass bet with odds
Don’t come bet with odds
Baccarat
You may be intimidated by baccarat with its glitz, glamour, and European aura, but behind the stiff exterior lies a decent game for the average bettor because there are only three possible results of each hand and there’s no skill involved — it’s strictly the fall of the cards. A couple tips for doing well:
Always bet on the banker (house edge is 1.06 percent, meaning if you made a hundred bets of $1, your average loss would be about a buck).
You can also bet on the player’s hand. (The house edge is only slightly worse than the banker’s hand at 1.24 percent.)
Bets to Avoid in Otherwise Safe Casino Gambling Games
Some casino games are safer to gamble on than others, but even these have versions or bets that’ll drain wallets. Avoid these casino game versions or bets at all costs:
Jacks or Better Video Poker (6/5 Version): The payouts are much worse on some versions of video poker. For example, when you make a full house on a 6/5 machine, you get paid only six coins instead of nine. Play only the 9/6 version of Jacks or Better.
Blackjack — the insurance bet: This side bet pays back 2 to 1 when the dealer has a blackjack, but the true odds are closer to 2.2 to 1, making this a losing bet over time. You’re gambling, after all, you’re all about the risk, so forget the insurance.
Craps — the field and proposition bets: The house edge can be as high as 16 percent for these seductive bad bets. (Can you say ouch?) Stick with Pass, Don’t Pass, and Come bets.
Baccarat — tie bets: If you want to keep your money, steer clear of this bet; the house has an edge of 14.36 percent on tie bets. You want to enrich yourself, not the house.
Casino Gambling Games to Avoid at All Costs
If you’re gambling in a casino, you know that the odds always favor the house. But some casino games have higher odds for the house than others, including the ones in the following list. Don’t gamble on these games unless you want to go home with a lighter wallet:
Three-Card Poker
Let it Ride
Red Dog
Roulette
Caribbean Stud Poker
Big Six Wheel
Keno
How to Manage Your Money at a Gambling Casino
Successful casino gamblers understand the math and odds behind the games, but discipline with money is also critical. Managing your money at a casino requires self-control. Use these tips to keep yourself in the safe zone:
Never borrow money while gambling. Chances are good that you’ll lose it, making a bad situation even worse.
Only bet what you can afford to lose. Gambling with money you’re scared to lose is neither enjoyable nor wise.
Set and stick to a budget. Write it on your forehead if you have to, but no matter what, when you hit that number, leave the casino.
Avoid ATM machines or lines of credit. Using credit is a really easy way to get financially overextended while gambling.
Limit your playing time. Taking a break keeps your mind sharp.
Hotel rooms have beds — use them. When you only gamble a few times a year, it’s tempting to play marathon sessions. But your body and your bankroll aren’t built to handle the casino’s pulsating 24/7 schedule, so make sure you sleep and rest.
Don’t drink and gamble. If the casino serves drinks for free, you should be very suspicious.
Remember the law of gravity — what goes up must come down. Casino profits soar when players get greedy. Quitting with a small win is far better than losing your shirt.
Don’t play any game you don’t understand. One of the fastest ways to burn through your cash is to jump into a game where the rules or strategies confuse you.
Never lie about your wins or losses. If you find yourself deluding a person or several people in your life about your gambling, take pause and reevaluate your gambling.
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On This Page
Introduction
The following table shows the house edge of most casino games. For games partially of skill perfect play is assumed. See below the table for a definition of the house edge.
Casino Game House Edge
| Game | Bet/Rules | House Edge | Standard Deviation |
|---|---|---|---|
| Baccarat | Banker | 1.06% | 0.93 |
| Player | 1.24% | 0.95 | |
| Tie | 14.36% | 2.64 | |
| Big Six | $1 | 11.11% | 0.99 |
| $2 | 16.67% | 1.34 | |
| $5 | 22.22% | 2.02 | |
| $10 | 18.52% | 2.88 | |
| $20 | 22.22% | 3.97 | |
| Joker/Logo | 24.07% | 5.35 | |
| Bonus Six | No insurance | 10.42% | 5.79 |
| With insurance | 23.83% | 6.51 | |
| Blackjacka | Liberal Vegas rules | 0.28% | 1.15 |
| Caribbean Stud Poker | 5.22% | 2.24 | |
| Casino War | Go to war on ties | 2.88% | 1.05 |
| Surrender on ties | 3.70% | 0.94 | |
| Bet on tie | 18.65% | 8.32 | |
| Catch a Wave | 0.50% | d | |
| Craps | Pass/Come | 1.41% | 1.00 |
| Don't pass/don't come | 1.36% | 0.99 | |
| Odds — 4 or 10 | 0.00% | 1.41 | |
| Odds — 5 or 9 | 0.00% | 1.22 | |
| Odds — 6 or 8 | 0.00% | 1.10 | |
| Field (2:1 on 12) | 5.56% | 1.08 | |
| Field (3:1 on 12) | 2.78% | 1.14 | |
| Any craps | 11.11% | 2.51 | |
| Big 6,8 | 9.09% | 1.00 | |
| Hard 4,10 | 11.11% | 2.51 | |
| Hard 6,8 | 9.09% | 2.87 | |
| Place 6,8 | 1.52% | 1.08 | |
| Place 5,9 | 4.00% | 1.18 | |
| Place 4,10 | 6.67% | 1.32 | |
| Place (to lose) 4,10 | 3.03% | 0.69 | |
| 2, 12, & all hard hops | 13.89% | 5.09 | |
| 3, 11, & all easy hops | 11.11% | 3.66 | |
| Any seven | 16.67% | 1.86 | |
| Double Down Stud | 2.67% | 2.97 | |
| Heads Up Hold 'Em | Blind pay table #1 (500-50-10-8-5) | 2.36% | 4.56 |
| Keno | 25%-29% | 1.30-46.04 | |
| Let it Ride | 3.51% | 5.17 | |
| Pai Gowc | 1.50% | 0.75 | |
| Pai Gow Pokerc | 1.46% | 0.75 | |
| Pick ’em Poker | 0% - 10% | 3.87 | |
| Red Dog | Six decks | 2.80% | 1.60 |
| Roulette | Single Zero | 2.70% | e |
| Double Zero | 5.26% | e | |
| Sic-Bo | 2.78%-33.33% | e | |
| Slot Machines | 2%-15%f | 8.74g | |
| Spanish 21 | Dealer hits soft 17 | 0.76% | d |
| Dealer stands on soft 17 | 0.40% | d | |
| Super Fun 21 | 0.94% | d | |
| Three Card Poker | Pairplus | 7.28% | 2.85 |
| Ante & play | 3.37% | 1.64 | |
| Video Poker | Jacks or Better (Full Pay) | 0.46% | 4.42 |
| Wild Hold ’em Fold ’em | 6.86% | d |
Notes
| a | Liberal Vegas Strip rules: Dealer stands on soft 17, player may double on any two cards, player may double after splitting, resplit aces, late surrender. |
| b | Las Vegas single deck rules are dealer hits on soft 17, player may double on any two cards, player may not double after splitting, one card to split aces, no surrender. |
| c | Assuming player plays the house way, playing one on one against dealer, and half of bets made are as banker. |
| d | Yet to be determined. |
| e | Standard deviation depends on bet made. |
| f | Slot machine range is based on available returns from a major manufacturer |
| g | Slot machine standard deviation based on just one machine. While this can vary, the standard deviation on slot machines are very high. |
House Edge
The house edge is defined as the ratio of the average loss to the initial bet. The house edge is not the ratio of money lost to total money wagered. In some games the beginning wager is not necessarily the ending wager. For example in blackjack, let it ride, and Caribbean stud poker, the player may increase their bet when the odds favor doing so. In these cases the additional money wagered is not figured into the denominator for the purpose of determining the house edge, thus increasing the measure of risk.
The reason that the house edge is relative to the original wager, not the average wager, is that it makes it easier for the player to estimate how much they will lose. For example if a player knows the house edge in blackjack is 0.6% he can assume that for every $10 wager original wager he makes he will lose 6 cents on the average. Most players are not going to know how much their average wager will be in games like blackjack relative to the original wager, thus any statistic based on the average wager would be difficult to apply to real life questions.
The conventional definition can be helpful for players determine how much it will cost them to play, given the information they already know. However the statistic is very biased as a measure of risk. In Caribbean stud poker, for example, the house edge is 5.22%, which is close to that of double zero roulette at 5.26%. However the ratio of average money lost to average money wagered in Caribbean stud is only 2.56%. The player only looking at the house edge may be indifferent between roulette and Caribbean stud poker, based only the house edge. If one wants to compare one game against another I believe it is better to look at the ratio of money lost to money wagered, which would show Caribbean stud poker to be a much better gamble than roulette.
Many other sources do not count ties in the house edge calculation, especially for the Don’t Pass bet in craps and the banker and player bets in baccarat. The rationale is that if a bet isn’t resolved then it should be ignored. I personally opt to include ties although I respect the other definition.
Element of Risk
For purposes of comparing one game to another I would like to propose a different measurement of risk, which I call the 'element of risk.' This measurement is defined as the average loss divided by total money bet. For bets in which the initial bet is always the final bet there would be no difference between this statistic and the house edge. Bets in which there is a difference are listed below.
Element of Risk
| Game | Bet | House Edge | Element of Risk |
|---|---|---|---|
| Blackjack | Atlantic City rules | 0.43% | 0.38% |
| Bonus 6 | No insurance | 10.42% | 5.41% |
| Bonus 6 | With insurance | 23.83% | 6.42% |
| Caribbean Stud Poker | 5.22% | 2.56% | |
| Casino War | Go to war on ties | 2.88% | 2.68% |
| Heads Up Hold 'Em | Pay Table #1 (500-50-10-8-5) | 2.36% | 0.64% |
| Double Down Stud | 2.67% | 2.13% | |
| Let it Ride | 3.51% | 2.85% | |
| Spanish 21 | Dealer hits soft 17 | 0.76% | 0.65% |
| Spanish 21 | Dealer stands on soft 17 | 0.40% | 0.30% |
| Three Card Poker | Ante & play | 3.37% | 2.01% |
| Wild Hold ’em Fold ’em | 6.86% | 3.23% |
Standard Deviation
The standard deviation is a measure of how volatile your bankroll will be playing a given game. This statistic is commonly used to calculate the probability that the end result of a session of a defined number of bets will be within certain bounds.
The standard deviation of the final result over n bets is the product of the standard deviation for one bet (see table) and the square root of the number of initial bets made in the session. This assumes that all bets made are of equal size. The probability that the session outcome will be within one standard deviation is 68.26%. The probability that the session outcome will be within two standard deviations is 95.46%. The probability that the session outcome will be within three standard deviations is 99.74%. The following table shows the probability that a session outcome will come within various numbers of standard deviations.
I realize that this explanation may not make much sense to someone who is not well versed in the basics of statistics. If this is the case I would recommend enriching yourself with a good introductory statistics book.
Standard Deviation
| Number | Probability |
|---|---|
| 0.25 | 0.1974 |
| 0.50 | 0.3830 |
| 0.75 | 0.5468 |
| 1.00 | 0.6826 |
| 1.25 | 0.7888 |
| 1.50 | 0.8664 |
| 1.75 | 0.9198 |
| 2.00 | 0.9546 |
| 2.25 | 0.9756 |
| 2.50 | 0.9876 |
| 2.75 | 0.9940 |
| 3.00 | 0.9974 |
| 3.25 | 0.9988 |
| 3.50 | 0.9996 |
| 3.75 | 0.9998 |
Hold
Although I do not mention hold percentages on my site the term is worth defining because it comes up a lot. The hold percentage is the ratio of chips the casino keeps to the total chips sold. This is generally measured over an entire shift. For example if blackjack table x takes in $1000 in the drop box and of the $1000 in chips sold the table keeps $300 of them (players walked away with the other $700) then the game's hold is 30%. If every player loses their entire purchase of chips then the hold will be 100%. It is possible for the hold to exceed 100% if players carry to the table chips purchased at another table. A mathematician alone can not determine the hold because it depends on how long the player will sit at the table and the same money circulates back and forth. There is a lot of confusion between the house edge and hold, especially among casino personnel.
Hands per Hour, House Edge for Comp Purposes
The following table shows the average hands per hour and the house edge for comp purposes various games. The house edge figures are higher than those above, because the above figures assume optimal strategy, and those below reflect player errors and average type of bet made. This table was given to me anonymously by an executive with a major Strip casino and is used for rating players.
Hands per Hour and Average House Edge
| Games | Hands/Hour | House Edge |
|---|---|---|
| Baccarat | 72 | 1.2% |
| Blackjack | 70 | 0.75% |
| Big Six | 10 | 15.53% |
| Craps | 48 | 1.58% |
| Car. Stud | 50 | 1.46% |
| Let It Ride | 52 | 2.4% |
| Mini-Baccarat | 72 | 1.2% |
| Midi-Baccarat | 72 | 1.2% |
| Pai Gow | 30 | 1.65% |
| Pai Pow Poker | 34 | 1.96% |
| Roulette | 38 | 5.26% |
| Single 0 Roulette | 35 | 2.59% |
| Casino War | 65 | 2.87% |
| Spanish 21 | 75 | 2.2% |
| Sic Bo | 45 | 8% |
| 3 Way Action | 70 | 2.2% |
Best Gambling Odds In Casino
Translation
A Spanish translation of this page is available at www.eldropbox.com.
Best Casino Gambling Odds
Written by: Michael Shackleford