I have been known to gamble from time to time. With all of the options out there to play, it can be very enticing to take advantage of what seem to be really great deals. However, one thing you are not told on the signup screen offering great free-play or odds boosts is that the house always finds a way to win.
Since there are seemingly endless options for gambling tempting people in. I thought I would provide a little bit of statistical fact for you to be aware of your risk. I see ads for crypto casinos every single day as it is a bridge for a lot of people to get into crypto in a... colorful way. While I appreciate that people are finding utility in cryptocurrency, there is a lot to be wary of here.
Here is a look at some of the house edges for different popular casino games. All of the statistics are taken from a website called Wizard Of Odds.
Blackjack:
Between .28% and .43% depending on ruleset. These are reasonable odds, but once again you will lose over half the time, don't push your luck if you do have a win. You will lose in the long run!
Roulette:
Single Zero: 2.70%
Double Zero: 5.26%
If you are choosing a color and there are two zeros on the wheel you might as well just walk away from the table assuming you've lost. Double zero roulette is highway robbery (as it single zero in all honesty), When it's an electronic game just assume you will lose any time you have a sufficient amount as your bet.
Craps:
The best house odds in craps are playing the pass/come line which is where you are betting on the shooter to win the point. The edge to the casino is 1.41% here and can be minimized further by laying odds behind your bet after a point is established. However, one in every six rolls in craps is a seven and that number will cause all of your money to get scooped up by the dealers. The longer you stay the more likely you are to lose.
Slots:
6%-15% depending on the risk amount. I've seen streamers on sites like stake or roobet bringing in massive massive profits on slot bonus buys; where they spend upwards of $10,000-$20,000 for the triggering of the bonus feature, but I have to imagine the win percentage of that is well below the 15% implied by the general house edge.
Should You Bet?
No for sure not. But if you are going to, be prepared to lose what you put in and if you win big get it the hell out!
Notice that in all of the games if you play 100 times you are SUPPOSED TO LOSE! They are built to keep the house afloat and are incredibly efficient at their job.
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