The first reason most gamblers would give for why casinos win more than they lose is the house edge. While most persons have no idea how a house edge is calculated, they vaguely know that somehow the casino has an edge over them.
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There is no question that the house edge is like an insurance policy the casinos carry, ensuring them that if the mob of players plays long enough the casino will grind out its inevitable win percentages. However, the casinos rely on a lot more than percentages to beat most players. Casinos are experts at creating the psychological triggers than give them a much bigger edge than the house edge.
Our Roulette Strategy is a winning strategy which will help you win consistently at roulette. But, using it or any other winning strategy is still no guarantee that you will win. The casino's power and charms are formidable, and when you face the casino in a battle for its money, it will employ every resource at its disposal to relieve you of your money, hopefully in the most pleasant manner possible.
The house edge is the mathematical edge the casino has over most bets. This edge is gained by paying players less than the correct payoff for winning bets. There is a precise probability for each bet in a casino. If you were paid the mathematically correct payoff, in theory, the house would have no edge over you.
Let's take a look at roulette to illustrate how the house edge works. The American version of the game has thirty-eight numbers on a wheel: 1 to 36, plus 0 and 00. If you placed a bet on one of these numbers, you would be paid 35 to 1 for your winning bet.
Does this sound right? Your probability or chance of winning is one in 38, which can also be expressed as 37 to 1. By only offering you 35 to 1 on a 37 to 1 risk, the casino is gaining an edge by reducing the amount it pays you for winnings.
On an American wheel, the casino's edge is 5.26%. This means that on the average, you will lose $5.26 to the casino out of every $100.00 wagered.
The house edge is the casino's ultimate weapon to ensure that in the long run, it will have a profit. However, it is just insurance for the casinos. The majority of most casinos' winnings are created because the players find ways to beat themselves.