The Worst Bets You Can Make At The Casino

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The Worst Bets You Can Make At The Casino

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The Worst Bets You Can Make At The Casino
Ryan C. Fuhrmann, provided by

Monday, December 12, 2011

Back in 2005, shortly after Wynn Resorts (Nasdaq:WYNN) opened its first resort in Las Vegas, the aptly-named Wynn Las Vegas, in a filing it made with the Securities and Exchange Commission (SEC), the company reported that the average daily win rate at its table games was $7,117 per table. The slot machine win rate was $273 per machine per day. These win rates are indicative of the daily rakes at other casinos and means that each gaming device inside a casino is effectively its own money-making franchise.


As the Center for Gaming Research at the University of Nevada Las Vegas explains, with little exception, the house (casino operators) always wins. This is because, when it comes from the perspective of the casino, the games have been mathematically designed so that the odds are in the favor of the house over the long run. As its casino math guide points out, the rules may not be fair, but if the casino honestly runs its operations, its carefully calculated advantage against gamblers is perfectly legal.

Below is an overview of the primary casino games and a detail of those that have the worst odds. The advantage that the house maintains in its games is most frequently referred to simply as the "house advantage," which is its expected win percentage over the long term.

Games of Chance
Games of chance, meaning there is not an ounce of skill that a gambler can employ to lower the house advantage, include games such as roulette, craps, slot machines and keno, generally have the worst odds. Keno is easily the most lucrative with an estimated average house advantage of 27% to mean that over the long haul the house will keep 27% of all bets made. Slot machines are also quite lucrative with house advantages between 5% and 10% roughly, though ranges can be as high as 2% and 15%, depending on if there are special gambling promotions or slot payouts are especially stingy.

Next up is double-zero roulette with an estimated house advantage of 5.3%. A single-zero can cut the house advantage in half to 2.7%. The game of craps has many betting options, with house advantage ranging from the teens to having an even edge versus the casino.

Skill Games
Skill games allow the gambler at least some ability to use strategy and lower the house advantage. Games in this category include blackjack, poker via a slot machine (also known as video poker), and poker table games such as Caribbean Stud and Pai Gow poker. As with certain types of bets in craps, blackjack can be played so that the house advantage is minimal. With a single card deck and a basic strategy that prescribes when exactly to hit, fold or stay, there is basically no house advantage. The Center for Gaming Research has pointed out that an average player, who doesn't consistently implement a basic strategy, will allow the house a roughly 2% advantage. Video poker has another low house advantage in the low single digits. The poker table games listed above have house advantages ranging in the low to mid single digits.

The Poker Room
Poker rooms are unique in casinos as they offer the house no advantage. This is simply because the poker player is playing against other players at the table, and not the casino. The casino only takes a cut, or rake of each hand played to earn its money. For this reason, combined with some level of poker-playing skill, playing in the poker room can offer an opportunity for the gambler to make some consistent money while gambling.

The Sports Book
As with the poker room, betting in a sports book differs from more traditional slot and table game betting. Rather than referring to a house advantage, casino sports books make money by facilitating bets and also establishing proper odds on the underlying sports events. The commission earned by a sports book is most commonly referred to as the "juice," but the more technical term is the vigorish, or "vig." Gamblers in the sports book are looking at stated point spreads (also known as "odds" or "the line") between two opponents, such as the Chicago Bears and Green Bay Packers in a football game, and making their own judgments regarding their ability to profit from a bet.

The Bottom Line
At the end of the day, gambling should be viewed as another form of entertainment, with a corresponding amount of funds set aside that can be lost without harming an individual's personal finances. Certain individuals may want to try and minimize their chances of losing by betting on games with the lowest house advantage, and while a very small percentage of individuals may see success gambling as a profession, the rest of us would be best served by avoiding any serious commitment to winning consistently at the casinos.

[Quiksilver]

I remember reading once that the games with the least advantageous games (for the house) were craps and blackjack.

[new york knight]

Your BEST BET Is usually not to go to the casino period

[Hoosiercatdaddy]

Any word on the Big 6 wheel?

[MCP313]

I know a guy who dominates scratch offs.

PEACE

[Sweetleaf22]

That , that girl is a hooker!!

[mrmarket]

But that Keno lounge is so chill you to keep it real with the 80+ set.

[Big Pimpin]

noo

[bdgear]

Originally Posted by MtrCtyPimp

I know a guy who dominates scratch offs.

PEACE

that's pretty strong if true.

[WildKat]

Originally Posted by Hoosiercatdaddy

Any word on the Big 6 wheel?

If you know what your doing- It like free cheese give away----others really struggle with the art of the spin and being able to read the Big Wheel

[LadyDawn]

best odds for players is at craps tables house edge built in 1 1/2 %

i mean the stright game of craps no box bets no come bets no hi low bets etc...

if you bet the boxes just place the bet straight soon as it hits YOU win

when you bet come bets you need to win twice

worse edge for players is at BJ 8-5 against you

other games odds all in favor of house like caribbean stud what a joke

rouluttee great payout 35 - 1 on any number

slot machines just pick the right one and hope you hit with 1st $100 bet !

actually i know people who keep track of every slot machine in every casino they play as a team they know when the progressive jackpots usaully hit at time of year

and thery win every year !

[chibob]

Originally Posted by LadyDawn

best odds for players is at craps tables house edge built in 1 1/2 %

i mean the stright game of craps no box bets no come bets no hi low bets etc...

if you bet the boxes just place the bet straight soon as it hits YOU win

when you bet come bets you need to win twice

worse edge for players is at BJ 8-5 against you
other games odds all in favor of house like caribbean stud what a joke

rouluttee great payout 35 - 1 on any number

slot machines just pick the right one and hope you hit with 1st $100 bet !

actually i know people who keep track of every slot machine in every casino they play as a team they know when the progressive jackpots usaully hit at time of year

and thery win every year !

Worst edge is BJ. Hardly, unless one is a dummy and doesn't know the game and odds , when to Double Down etc. BJ is about the same as craps, regarding house edge. If you pass on taking odds in craps, edge to the house.

Below is a list of the various %'s for the house.

House Edge
Casino Games

Gamblers - whether you are a 1st timer or seasoned gambling veteran, knowing what your odds of winning per each game in a casino is vitally important. Please enjoy the information below and best of Luck in the casino.

Based on typical Las Vegas Casino rules, please note variations will occur. Variations will occur depending on individual House rules and various promotions or special situations. We define true definition of House Edge as the ratio of the average loss to the initial bet.


Game Bet/Rules House Edge
Baccarat Banker 1.17%
Baccarat Player 1.36%
Baccarat Tie (pays 8:1) 14.12%
Big Six $1 11.11%
Big Six $2 16.67%
Big Six $5 22.22%
Big Six $10 18.52%
Big Six $20 22.22%
Big Six Joker/Logo 24.07%
Blackjack Single Deck 0.20%
Blackjack Double Deck 0.35%
Blackjack Four Decks 0.51%
Blackjack Six Decks 0.60%
Blackjack Eight Decks 0.63%
Caribbean Stud Poker 5.22%
Craps Pass/Come 1.41%
Craps Don't Pass/Don't Come 1.40%
Craps Pass + 1X Odds 0.85%
Craps Pass + 2X Odds 0.61%
Craps Pass + 5X Odds 0.32%
Craps Pass + 10X Odds 0.18%
Craps Pass + 100X Odds 0.02%
Craps Field (2:1 on 12) 5.56%
Craps Field (3:1 on 12) 2.78%
Craps Any craps 11.11%
Craps Big 6,8 9.09%
Craps Hard 4,10 11.11%
Craps Hard 6,8 9.09%
Craps Place (to win) 6,8 1.52%
Craps Place (to win) 5,9 4.00%
Craps Place (to win) 4,10 6.67%
Craps Place (to lose) 6,8 1.82%
Craps Place (to lose) 5,9 2.50%
Craps Place (to lose) 4,10 3.03%
Craps Proposition 2,12 13.89%
Craps Proposition 3,11 11.11%
Craps Proposition 7 16.67%
Double Down Stud 2.67%
Keno 25%-29%
Let it Ride 3.51%
Pai Gow Poker 2.50%
Red Dog Six decks
2.69%
Roulette (Single Zero) 2.70%
Roulette (Double Zero) 5.26%
Sic-Bo 2.78%-47.22%
Slot Machines $.05 15.20%
Slot Machines $.25 10.20%
Slot Machines $.50 9.10%
Slot Machines $1 8.10%
Slot Machines $5 5.50%
Slot Machines $25 5.30%
Slot Machines $100 3.90%
Spanish 21 0.82%
Three Card Poker Pair Plus 2.32%
Three Card Poker Ante & Play 1.46%
Video Poker 5/6/800 5.00%
Video Poker 6/9/800 0.46%
Video Poker 6/9/1000 -0.07%
War Go to war on Ties 2.88%
War Surrender on Ties 3.70%
War Bet on Ties 18.65%

[JunkyardDog47]

If you are a counter, Blackjack odds actually favor the player, not the house. This is why the casino's run counters as soon as they are spotted. It is not easy being a good counter. Basically you have to hit and run. You can't stay at any one table for too long, and when you move, you have to move to another set of tables with a different pit boss. You have to convince them that you are just another player. The casino's have many tricks to spot counters, including the use of good looking female "shills" who are trained to spot counters and tip off the people upstairs.

[hitme1x]

Blackjack is a game that can be beaten, the last time I was in Vegas I did see alot of the BJ tables only paying 6-5 on blackjacks. STAY AWAY from these!!!

[JunkyardDog47]

If you play Blackjack, many places have different rules. At Caesars Palace, on multi-deck tables, you have the opportunity to surrender your hand for half of your wager, double down on splits, and you get 3-2 on Blackjacks. That is a huge advantage compared to other casinos that do not have those liberal rules.