Which Online Casino and Gambling Games are the Best in Terms of Risk and Returns?
Gambling is a business, and casinos operate to make a profit. If they didn’t, they would soon close down. This applies online as much as offline, and what it means is, in the long term the house always wins. We all enjoy stories of professional gamblers who manage to make a good living by beating the system; it appeals to our romantic sense of the glamorous outlaw, stealing from the rich and, well, keeping it for themselves. However, in reality, the healthiest way to understand gambling is as an enjoyable pastime that you pay for. It’s not a way of making money, and you should always gamble responsibly, never betting more than you can afford to lose.
That said, it is still true that some games offer a better chance of winning than others. It is also true that in the short term, it is possible to win a substantial amount of money on casino and gambling games. If one has the prescience to quit while one is ahead, then one may even walk away from the table in profit. Which online games offer the best chance of decent returns?
The house edge
First of all, it is necessary to understand the notion of the house edge. If true odds are when you get back exactly what you bet – for instance, receiving a $1 win for a $1 wager – then the house edge is the variance on those odds in the house’s favor, expressed in terms of a percentage. The house edge isn’t everything, and other factors should also be considered by someone looking to come away in profit, but it’s certainly something that every player should be aware of when choosing what to play.
Online, the house edge can sometimes vary considerably from one website to another. This is why it’s useful to go to a comparison site such as Microgaming Tribune in order to make an informed decision about the best casino site to visit. You can also compare progressive jackpots, bonus games, and read game reviews to see which ones most appeal to you. Just as importantly, going via a reputable comparison site provides you with a greater level of security and confidence.
Slots versus table games
Although table-style casino games may appear daunting, they usually offer better odds of winning than slot games. This applies online just as much as in brick-and-mortar casinos. This is because slot games have a high built-in house edge, which varies from game to game. Table games don’t automatically have a house edge as in their original form they generally predate casinos. Although some kind of edge is present in almost all table games, it cannot be too high, as this would require altering the classic game too much.
If you do still want to play the slots, a good tip is to place as high a bet as you can afford. The higher the amount you gamble, the better your chances are of winning, with so-called penny slots offering the worst odds.
Games of skill
Of all the games of skill, blackjack is generally considered to offer the best chances of winning. As each player is only competing with the dealer, they don’t have to worry about being outclassed by other players. The typical house edge is 3%, but a good player can get it down to 0.26% with the right strategy. With online poker, a good player can actually have an advantage against the house, but this is a game that is much more about individual skill and experience. For an experienced poker player, this game can generate high winnings, but inexperienced players will almost certainly lose out, for the same reasons.
Games of chance
Roulette offers almost 50-50 odds of winning if you bet on red or black, high or low, or odds or evens. It’s not quite 50-50, however, because of the house edge of 2.7%, which comes from the two green ‘0’ and ’00’ positions on the wheel. Betting on an individual number gives you 38-1 odds and 35-1 winnings, taking into account the house edge, which in this case is 5.26%.
Playing craps also gives you almost 50-50 odds, with no house edge. The best way to play is by layering bets; you can place up to ten bets on the same number. Avoid keno, however; this lottery-style game sometimes has a built-in house edge of up to 35%.
The best chance of good returns comes from establishing a balanced spread of different games and sites that you frequent. That way, if you lose on one, you may still win on another. Your level of skill will count for much in some games but little in others. Remember to always gamble responsibly; the best way to stay ahead is to know when to walk away.