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Casinos and Gambling
There is only one casino gambling game that gives you a fair chance to beat the casinos, and this game is... Blackjack. Yes, in all games played in the casinos, blackjack remains the only one in which a participant can actually change his chances of winning during the game. Let me explain.
Every Casino gambling game has a built in profit for the casinos on every bet. This is known as the House Edge or Casinos Advantage. (Note: This is true for "brick and mortar" casinos. In the online casinos world the casinos online are powered by software programs, thus the House Edge of each game and each casino is dependant on the fairness of the casino owners).
Every bet you make has a certain probability of winning or losing. If you bet on the flip of a coin, the probability of heads or tails is 50 50. This would be an even money bet. If you bet a dollar and was paid a dollar when you won, you would be paid TRUE ODDS. However if the casinos only paid you 95 cents every time you won instead of a dollar the House edge would be 5%. Simply put, The house edge is the difference between the true odds and the odds that the casinos pay you when you win.
The House Edge for all casino gambling games are fixed - except for Blackjack gambling. This game actually can have a positive payback depending on the skill of the player and the rules or payback table.
Look at the gambling game of Roulette. You will see that the house edge is 5.26% for the double zero game. This is how we figure the edge. In the game there are 36 numbers plus the 0 and 00. The odd of you winning is one in 38 or 1/38. If you win the casinos pay you 35 for your dollars bet. You keep your original dollar, and are paid $35. The difference is Two Dollars (38 minus 36). Divide the $2 by 38 which is the true odds and you come up with the house edge of 5.26%. So you could actually cover all the numbers on the layout and still lose money. Great odds for the casinos, but not for you. Games like Roulette, Craps, Big Six have a fixed percentage because one roll or spin will never change the out come. There will always be 38 numbers on a roulette layout and 12 numbers on a pair of dice.
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