What is the House Edge in a Casino?

Casino

The house edge, also known as variance, is the percentage of profits that a casino will make if you win a bet. It is determined by the amount of money that a casino is willing to spend on each bet. This analysis is done by computer programmers and mathematicians. While some casinos have their own experts, many outsource the work to other companies. The results of the study are published in periodicals and are available on the Internet.

The rules for playing casino games vary. Some games are beatable, while others are not. For instance, blackjack can be beatable. Pai Gow poker tiles, pari-mutuel betting, video poker, slot machines, and sports betting are unbeatable. Other games, such as Baccarat, Caribbean stud poker, and casino wars, are unbeatable. These games are designed to be played by a single person and are therefore considered “hard” or “unbeatable.”

Technology has helped casinos improve their services. In the 1990s, casinos began integrating computers and video cameras to supervise games. Some casinos have “chip tracking” technology whereby betting chips with built-in microcircuitry allow casinos to monitor wagers minute-by-minute. Roulette wheels are monitored to ensure that they are unbiased and accurate. The Wall Street Journal, for example, gained access to a private gambling database, and discovered that 13.5% of the players won.