What is the house edge?
The definition of the house edge is the statistical loss (as a percentage) of the amount originally wagered. The house edge is not the loss on the total amount wagered. In some games, the amount originally wagered is not necessarily the same as the total amount wagered, e.g. in blackjack when you double.
The reason why the house edge is calculated this way is to make it easier for the player to calculate his expected loss. For example, if the player knows the house edge on a specific game variant is 1%, he can assume that he will lose an average of 1 cent each round with a starting bet of €1.
House edge is usually a term used for table games. If you are playing slots you’ll come across another term called RTP, or Return to Player. This is basically the same but the number indicates the percentage of the wager that is on average returned to the player as the name suggests. So the higher the number, the better for the player. For the house edge, the opposite is true.
How to overcome the house edge with casino strategies?
Well, the truth is that there is no way to completely eliminate the house edge. The casino will always have a slight advantage. But the good news is that there are some casino strategies that can almost eliminate it and even the odds, making you more likely to win and also conserve your bankroll in the long run. Once in a while, someone gets lucky enough to win big and if you follow some simple rules you can increase the chances of it being you!
Pick a game with a low house edge
The best casino strategy that will undoubtedly help you to increase your chances of winning is to pick the right game. The house edge, or the RTP, varies greatly across casino games and slot machines. Some of them favor the casino more than others. For example, if you like to play roulette, you should be aware that American roulette has a house edge of roughly 5.26%, whereas European Roulette favors the casino by merely 2.70%. This is due to the fact that there is no double zero in the European version of the game. Hence you can cut down the edge of the casino by simply picking another table.
The same is true for online slots. Commonly, the RTP of modern video slots is around 96%; however, there are many machines out there where this number is significantly higher or lower. The best online slots have a RTP value of around 99%. That means that the casino only earns 1 cent per €1 wagered compared to 4 cents from the average slot machine. Here are some examples that will help you to pick the most profitable game with the lowest house edge:
- American Roulette 5.26%
- European Roulette 2.70%
- Baccarat 1.01% - 15.75%
- Blackjack 0.5%
- Craps 0% - 16.67%
- Slots 1% - 15%
- Video Poker 0.46%
- Caribbean Stud 5.22%
- Hold'em 2.36%
Always play with a bonus!
A great casino strategy to increase your chances of winning is to take advantage of as many bonus offers as you can. The online gambling industry is very competitive and in order to acquire new players, the operators have to beat their competition by handing out insane welcome bonuses. In most cases, you can get at least a 100% bonus, up to a certain maximum value, on your first deposit at an online casino.
You need to keep in mind that the bonus money has to be wagered several times before you’ll be able to withdraw the bonus funds. However, the chances of getting something out of it are actually not that bad, especially if you are using your bonus in combination with some of the previously mentioned games with a low house edge or a high RTP. In some cases the value of the bonus is enough to make up for the house edge almost completely, giving you the chance to compete against the casino on an even playing field.
Sometimes you can even get a decent amount of free spins on top of your bonus that further helps to offset the house edge. A common casino strategy is to hop from one online casino to the next in order to collect as many bonus offers as possible. There’s plenty of choices out there and you won’t run out of promotions any time soon. You can check out the GoodLuckMate Top List to find the best deals that will help you to land your first big win.
Popular Casino Strategies
Most of the well-known betting and casino strategies revolve around games with even-money bets. This mainly includes table games like roulette, craps, baccarat and others. But once you figure out how the system works you can apply them to any game with a 50-50 chance. You should be aware that the following examples of casino strategies only work in theory as they all have their limitations and flaws. The strategies always assume that you have an unlimited bankroll available and that there are no table limits for the maximum bet size. While the first point could be true for some really rich people, the latter is unfortunately never the case in an online casino.
The Martingale system is one of the oldest and most popular casino strategies. The idea of the Martingale is that in the event of a loss, the player doubles the amount of his bet. In the event of a win, all previous losses are automatically offset and the player even cashes in on a small profit. Once you win, you start over by using your initial bet size. This system is only played with even-money bets. In roulette that would be black or red and even or odd amongst other options. As an example let’s say you bet €1 on black and you lose in the first round. This means you have to double to €2 for your next wager. If you win you didn’t only make up for your previous loss but also won the amount of your starting wager.
However, you should keep in mind that the stakes in the Martingale casino strategy can rise quickly, which is why a corresponding budget is required. Additionally, the table limit can cause you problems if the stakes reach the maximum possible amount. This is often the case after only seven double ups in most casinos.
Labouchere is an interesting casino strategy because the player sets a profit target for himself. In contrast to the Martingale system, the stakes are not doubled, which is why the strategy is less aggressive. The theory behind it is a bit more complicated and it would go beyond the scope of this short guide to explain everything in detail. All you have to know for now is that it basically follows a similar idea as Martingale but uses a slightly modified progression. Unfortunately, it comes with similar disadvantages as well.
The Fibonacci casino strategy is mostly used in roulette and is based on the Fibonacci sequence. The sequence is a series of numbers in which the two preceding digits are added to create the next. The progression determines the size of the wager. The beginning of the Fibonacci sequence is: 1, 1, 2, 3, 5, 8, 13, 21, 34, 55, 89, 144 and so on. If you lose you move up one step in the sequence and if you win you move two steps down. If you end up all the way at the beginning of the Fibonacci sequence you start over.
Unfortunately, there is no casino strategy that can consistently beat the house edge of a casino. Some of them are fun to try and might even work to some extent if you are a bit lucky. However, the best thing to do is to try to learn more about the games you want to play. You should be aware of the house edge and pick the most profitable games accordingly. Also, taking advantage of the bonus offers is highly recommended as this can boost your chances of winning with some extra cash. If you want to find out more about casino strategies for specific games you can have a look at our strategy guide.