Topic: What is House Edge and how it effects gambling - page 2. (Read 360 times)
The house edge is the meaning itself this is the chance of the probability of the player and the casino if winning every time you will play a game there is a chance you will lose of it, and by the times goes by there is a chance you will know the technique how to beat this game, but I think you need to lose a lot of money first before you will get the strategy on winning of it. They already gave a different example, in a gambling place you can win but not all the time you will be a winner.
I would like to know What is House Edge and how it effects gambling ?
I am not new in gambling but still never understand this term clearly.
I am not new in gambling but still never understand this term clearly.
Here are some links that will explain about House edge and how does it affects your gambling plays.
https://www.legitgamblingsites.com/online-casinos/house-edge/
casino.org
https://www.gamblingsites.org/casino/beginners-guide/house-edge/
Each game would really have different house edge.
I would like to know What is House Edge and how it effects gambling ?
I am not new in gambling but still never understand this term clearly.
Just understand that casinos are businesses, so they add a slight advantage for themselves in all their games. It reduces the players chance to win and increases the chance for the casino will win in the long run. Basically, the casino wins more often than the players because of the house edge and these winnings are accumulated to pay out the jackpots and other promos. This mathematical advantage in the games slanted towards the casino's favour is called the house edge. Moreover, the house edge varies with the games. So high Return-To-Player(RTP) games has the lowest house edge and vice versa.I am not new in gambling but still never understand this term clearly.
~
The term is simple: House Edge is the difference between the probability of casino's win and player's win. If I say, house edge is 2% then the probability that result of the bet will in favour of house is 51% and that of player is 49%.
Let's take a simple example of Dice game. Suppose a dice game has a house edge of 2% then it will pay you 2.00x for rolling above 51 or below 49. Ideally, it should be 2x for rolling above 50 or below 50. But due to house edge factor, the probability of you winning the bet as a player falls from 50% to 49%.
Should it be the house has 52% of winning while the player has only 48% because the house has 2 percent edge? Correct me if I am wrong, but in my point of view it should be 52 by 48 or 16:13. I'm not that good in gambling and I just recently learned and tried executing gambling tips based on house edges and odds. Please excuse me if I am mistaken.
It will be 51/49, not 52/48. As I said house edge is the difference between the probability that house will win and the probability that player will win. So 2% house edge is 51 - 49 = 2.
You can also understand it like this - player will win 2.00x if he rolls between 51-100 or 1-49. That's 49 possibilities out of 100.
Have a look here, Primedice has 1% house edge so player will win if he rolls over 50.49 or below 49.50. So player's winning probability is 49.5. Hence, the house edge is 1% (50.5 - 49.5)
~
The term is simple: House Edge is the difference between the probability of casino's win and player's win. If I say, house edge is 2% then the probability that result of the bet will in favour of house is 51% and that of player is 49%.
Let's take a simple example of Dice game. Suppose a dice game has a house edge of 2% then it will pay you 2.00x for rolling above 51 or below 49. Ideally, it should be 2x for rolling above 50 or below 50. But due to house edge factor, the probability of you winning the bet as a player falls from 50% to 49%.
Should it be the house has 52% of winning while the player has only 48% because the house has 2 percent edge? Correct me if I am wrong, but in my point of view it should be 52 by 48 or 16:13. I'm not that good in gambling and I just recently learned and tried executing gambling tips based on house edges and odds. Please excuse me if I am mistaken.
The phrase already explains itself. It's the edge of the casino which is also the house to the players of the casino. Imagine having them the higher chance of winning over the gamblers on their casino. For example, Casino A has 1% more chance of winning over the player. It's the reason why players has the possibility of losing more in the long run, but it can be managed if you are good at it and if you are a experienced.
It's the advantage of the casino, it's hard to determine when will we be able to win against mmthe House but if we're lucky enough we will be able to win or choose games with lowerhoise Edge for a chance to win, many says we can't beat the house which is true but there were times that we might win when we're able to handle our game and stop when our stra2seems not working and only favors the house. I would like to know What is House Edge and how it effects gambling ?
I am not new in gambling but still never understand this term clearly.
I am not new in gambling but still never understand this term clearly.
The term is simple: House Edge is the difference between the probability of casino's win and player's win. If I say, house edge is 2% then the probability that result of the bet will in favour of house is 51% and that of player is 49%.
Let's take a simple example of Dice game. Suppose a dice game has a house edge of 2% then it will pay you 2.00x for rolling above 51 or below 49. Ideally, it should be 2x for rolling above 50 or below 50. But due to house edge factor, the probability of you winning the bet as a player falls from 50% to 49%.
I would like to know What is House Edge and how it effects gambling ?
I am not new in gambling but still never understand this term clearly.
I am not new in gambling but still never understand this term clearly.
The phrase already explains itself. It's the edge of the casino which is also the house to the players of the casino. Imagine having them the higher chance of winning over the gamblers on their casino. For example, Casino A has 1% more chance of winning over the player. It's the reason why players has the possibility of losing more in the long run, but it can be managed if you are good at it and if you are a experienced.
I would like to know What is House Edge and how it effects gambling ?
I am not new in gambling but still never understand this term clearly.
I am not new in gambling but still never understand this term clearly.
Well then if you are not new onto gambling, make sure that you are not also new to self-research of the doubts you are having. Just by searching "House Edge" in the search bar on the above side of the forum, there would be a lot of threads that would help you understand. Here's one that helped me back then to understand House Edge again.
Beginner's guide to House Edge and RTP
https://bitcointalksearch.org/topic/beginners-guide-to-house-edge-and-rtp-5242329
Since this is self moderated, I hope this reply and the thread I redirect you to read already fulfilled your doubts and questions with House Edge. Better lock this thread as well in the bottom left corner of this thread. Thanks!
I would like to know What is House Edge and how it effects gambling ?
I am not new in gambling but still never understand this term clearly.
I am not new in gambling but still never understand this term clearly.
Jump to: