The House Edge for Casino Bets
Index of House Edge:
|
Game |
Bet/Rules |
House |
Std |
|
Baccarat |
Banker |
1.06% |
0.93 |
|
Zero |
Banker |
0.026% |
0.93 |
|
Baccarat |
Player |
1.23% |
0.95 |
|
Baccarat |
Tie |
14.35% |
2.64 |
|
Baccarat |
Tie |
4.57% |
2.64 |
|
Blackjack |
Various (a) |
0-2% |
1.17 |
|
Zero |
0.02% |
1.17 |
|
|
Caribbean |
Standard (b) |
5.22% |
2.24 |
|
Craps |
Pass/Come |
1.41% |
1 |
|
Craps |
Dont |
1.40% |
0.99 |
|
Craps |
Field |
5.56% |
1.08 |
|
Craps |
Any |
11.11% |
2.51 |
|
Craps |
Big |
9.09% |
1 |
|
Craps |
Hard |
11.11% |
2.51 |
|
Craps |
Hard |
9.09% |
2.87 |
|
Craps |
Place |
1.52% |
1.08 |
|
Craps |
Place |
4.00% |
1.18 |
|
Craps |
Place |
6.67% |
1.32 |
|
Craps |
Place |
1.82% |
0.9 |
|
Craps |
Place |
2.50% |
0.8 |
|
Craps |
Place |
3.03% |
0.69 |
|
Craps |
Craps |
13.89% |
5.09 |
|
Craps |
Craps |
11.11% |
3.66 |
|
Craps |
Any |
16.67% |
1.86 |
|
Roulette |
Single |
2.70% |
(e) |
|
Zero |
0% |
(e) |
|
|
Slot |
Various (c) |
5-20% |
3.14 (f) |
|
Video |
Various (d) |
0-5% |
4.42 |
|
Zero |
0% |
4.42 |
Notes:
(a) Rule variations influence the house edge. See Blackjack section for more details.
(b) This excludes playing the Jackpot bet in Caribbean Poker.
(c) Generally the higher the betting unit the lower the house edge.
(d) Various payouts influence the House Edge. See Video Poker section for details.
(e) Standard deviation depends on bet made.
(f) Standard deviation varies from Casino to Casino and from machine to machine.
House Edge:
The House Edge is defined as the ratio of the average loss to the initial bet. It is not the ratio of money lost to total money wagered. This is important in games like Blackjack and Caribbean Poker, where the player is allowed to increase his bets in certain situations where the odds favour them. In these two cases the additional money bet is not figured into the denominator to calculate the House Edge. In the other games the House Edge does give a reliable way of calculating the element of risk involved with each bet.
The risk can be calculated using the following formula:
Example: In Baccarat a player playing $100/bet on Banker can expect to lose $1.06 per bet on average.
A general rule here is this:
The lower the house edge of a bet the lower the player risk involved.
Standard Deviation:
The standard deviation is a measure of how volatile your bankroll will be playing a given game. This statistic is commonly used to calculate the probability that the end result of a session of a defined number of bets will be within certain bounds.
The standard deviation of the final result over n bets is the product of the standard deviation for one bet and the square root of the number of bets made in the session.
Example: In Baccarat playing 49 Banker bets at $100 each the following standard deviation can be expected.
Standard deviation for one bet x square root of 49
0.93 x 7 = 6.51
The probability that the session outcome will be within one standard deviation is 68.26%, within two standard deviations is 95.46% and within three standard deviations is 99.74%.
In the Baccarat example the player has a 68% chance of being between $650 up or down. There is a 95.46% chance of being between $1300 up or down. There is a 99.74% chance of being between $1950 up or down.
In all above scenarios it is assumed that the bet remains the same.
A general rule here is this:
The higher the standard deviation is the more volatile the changes of your bankroll can be for a particular bet.
What is the house edge for bets on a Roulette table with two 00 ?
The house edge for all bets on a single 0 roulette table is 1/37 = 2.7%
The House edge for a Double 00 roulette table is 2/38 = 5.3%
The only exception is on tables where half the money is returned on even money bets when a 0/00 is spun. Here the edge is half of the norm, making it 1.35% and 2.7% respectively