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What is the House Percentage?
WHAT IS THE HOUSE PERCENTAGE? By tHE bIG pOSSUM
I have been asked on several occasions what is the house percentage and how do you lower it? Most of those questions have come from people who have read my book “Casino Money Management” and are referring to the section dealing with knowing your game and reducing the house percentage.
The answer to these two questions can significantly increase your chances of winning, or at the very least not losing so much.
First, knowing how the house percentage is calculated and where their advantage is helps you in determining if that play will work for you. Second, it allows you to look for the game or casino that has house rules that take away from some of that advantage.
Let’s take a closer look at the house percentage.
Simply put, the house percentage or house advantage is their take of the money bet at a casino. It’s not what one player loses or even what a collective group of individuals lose. It is a percentage of ALL the money played or gambled in the casino. The house has an advantage in every game and every bet made in the casino.
Knowing that percentage and finding the game that has the lowest percentage on a particular play is paramount.
A good example would be the red/black in roulette. In a recent blog I talked about the house percentage on what most people refer to as the 50/50 chance on red and black in the game of roulette.
Actually the wager is not 50/50, it is 45/50 and the house has a 5.26% advantage in that play.
There are 18 red and 18 black numbers, but there are also two green numbers (0, 00), so if you bet “red” you can only win 18 ways, but you can lose 20 ways, so out of every $38 wagered you lose $2. A house advantage of 5.26%, the casino is going to take 5.26% of everything wagered on both red and black.
Think about that; you bet $1 on red and your friend bets $1 on black, every time red comes up the casino uses your friends money to pay you, when black comes up they use your money to pay him, but when green comes (mathematically every 19th spin) they take the money from both of you: HOUSE ADVANTAGE.
So how do you reduce that 5.26% advantage?
Well, it is not that you can actually make some secret play to make that happen. It is in knowing that all games are NOT created equal. And knowing your game inside and out is part of being a successful gambler.
There are different house rules to the same game, depending on the casino, and sometimes even within the same casino.
Some casinos deal a more player friendly game. For example, in blackjack it might be the single deck vs. 6 deck shoe, or the dealer standing vs. hitting on soft 17, in craps it might be double or triple odds vs. single odds, or a payout of 15 to 1 vs. 15 for 1 on eleven.
Different casinos have different rules, so go out and find the game and/or casino that have different house rules with lower house percentage in the game(s) you play.
Getting back to our red/black example above; in the game of roulette there are some casinos that deal roulette with only one green number (0), this cuts the house percentage to 2.7%. You are still at a disadvantage, but is has been significantly reduced; the casino take is only $1 out of every $37 bet compared to $2 out of $38 (with two green numbers 0 and 00).
And to make it even better, there are some casinos that deal European Roulette, which has one green number and if it comes up you only lose half of your bet on red or black. This cuts the house percentage to 1.35%. In this one, the casino take is only 50 cents out of every $37 wagered. Now that is almost 50/50.
So as tHE bIG pOSSUM sez: Know your play! Know your way!
About the Author
T.B. Possum has over 40 years of casino gambling experience, and has mentored hundreds of players on casino money management and how to be a successful gambler. He is a major contributor to http://thegamblindmind.com your source for information on all things related to casino gambling. T.B Possum is committed to providing every player from novice to expert with sound gambling insight. Know your play, know your way. http://www.thegamblingmind.com
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