How Do Casinos Make Money In A Game Of Chance?

How Is It Possible That A Casino Always Wins In A 'Random' Game?

The age-old question always is; Are casinos rigged? The answer isn’t that straight forward. Casinos have been invented a long time ago by some group of absolute geniuses. The whole concept is based on the simplest, most unexpected thing -- math. Every game is set in such a way that the house always has the advantage and therefore always wins. So yes, in that way, casinos are rigged.

 

How Exactly Do Odds Work

Odds work exactly like you were taught at school except casinos make it kind of difficult to understand at first glance. 

 

For example, everyone understands the odds of a coin toss, which is 1/1. One way to win and only one way to lose. But not everyone understands that anything can happen in the short term. If you flip a coin 10 times the result does not have to be 5 heads and 5 tails. The short amount of tosses could fluctuate the outcome to something like 7/3 and this would be completely normal. Unexpected but normal.

 

These odds apply with the law of large numbers, which suggests that if you repeat something often enough, your results will eventually resemble the statistically predicted results.

 

If you now tossed that coin 10 000 times instead of 10 you will see exactly how these odds are distributed pretty much evenly.

 

Coins Toss And Roulette

Every game has an edge even though it's not completely clear. Roulette is a perfect example since a lot of people mistake roulette’s black and red bets for a 50/50 chance, which is a little far from the truth. The wheel consists of 38 numbers that contains 3 colors, not 2, which people often forget. And that makes your odds 18/38.

 

The green zero is the house edge that keeps you from winning in the long run, every time. Whenever you bet on the color your chances of winning are 47.36% (or 48.64%. depending on the type) not 50/50. These numbers may seem small but they get significant the longer you play.

 

The other edge casinos get is of course its numbers. While the chance of landing that ball on your numbered bet is 1 out of 37, once you get it, your actual winnings aren’t 37x your bet. You have to remember the 2 green zeros on the wheel that will bring your winnings slightly down to 35x.

 

This seems pretty insignificant for the amount you're winning but this is how the casinos get the edge and win every time in the long run. Numbered bets alone have a 5.26% edge and the overall roulette edge can sometimes be up to 17%.

 

Casino Business Is A Marathon And The Only Way To Beat It Is To Sprint

For the average player, the casino games are a sprint since anything can happen in the short run, no matter how unlikely it is. Casinos know this and this is why they focus on being what they are -- a business. 

 

Casinos put small enough edges to lure players in their game but big enough to make huge amounts of guaranteed money in the long run. As long as they have thousands of customers that play for thousands of days casinos will always win.

 

It’s important to remember to never try to ‘make’ money in a casino and focus mostly on having fun. If you enjoy the casino games themself, you can enjoy all the same benefits even for free online, on social casino sites like GamblersArea.

 

Conclusion

The odds are stacked against you and this is how you lose. However, that does not mean you cannot have fun!

 

Think of casino games like a night out. Going to a live show or drinking with friends for example. These activities entertain you for the cost of your wallet. Casino games work in a similar way except you get the chance to win money in return. The fact that you’re playing against the odds only amplifies the entertainment level.