You’ve probably heard the phrase the house always wins. That phrase refers to casinos and bookmakers and indicates that it is impossible to be ahead of them and make a serious profit out of gambling. There is certainly some truth to that and you will never come across a player who has never lost.
On the other hand, many players with extremely large winnings prove us wrong every day. At the same time, we have to remember that there are people who gamble professionally and make a living out of it. Therefore, there must be a way to beat the house, right? Well… the answer is both yes and no.
One thing is for sure, if one wants to ensure a profit in the long run, with gambling, he or she has to find a safe platform to gamble on. Use this source to find a reliable one. One also needs to understand how casinos make money, calculate their statistical advantage and see where they stand. The best way to illustrate this is to use an example of a real-time casino.
How do casinos make a profit?
Now, maybe part of the answer could be found in the very first place where it should be looked for – in the reason why people go there in the first place. Again, some others would say that behind the mentioned fact are thousands of hours and millions of dollars invested by the owners to make the casino what it is – a sure source of income.
Let’s ignore for a moment that casinos all over the world invest a good part of their income every day in preventing customers from cheating. Because the real reasons lie in mathematics.
The essence of the story is that you are knowingly entering a venue where the rules apply, arranged in such a way as to give priority to someone else than the owner. Now, an obvious example of a built-in casino advantage is the game of roulette. Because in it, for example, the highest premium you can get is 36 to 1.
However, there are 37 numbers on roulette (sometimes 38, in the form of the widely known “0” and “00”). This means that realistically the maximum odds should be 37 or 38, not 36. Now, this magical difference of 1 or 2 points is precisely the source of the casino’s profit (which for roulette is estimated at 5-6% of the total turnover, when all variants of winnings are taken into account).
Of course, the mentioned game of probability cannot come to the fore after one or two spins of roulette. But it inevitably comes after 200 or 300. Again, the same reasoning applies to other games, where the built-in house edge (which is 5% in roulette and 0.5% in blackjack) varies from case to case, but is always present – and hence the income of the casino.
Now, unfortunately for many, the same principle probably applies to other types of gambling, including, of course, the ubiquitous bookmakers.
And then what could be the basic task of a casino or a bookmaker – to keep you playing as long as possible, so that with as many of your attempts as possible, their mathematics would work, that is, their advantage built into the game rules.
Now, that’s where casinos use countless tricks – from the arrangement of machines and tables to the slope of the floors so that players lose the concept of space and circulate between different gambling places as long as possible.
Also, there is specific lighting and ventilation in the space, along with the inevitable alcohol, whereby the concept of time seems to be largely lost, and the game is played for longer. Because the increasing number of your attempts is a fairly safe way for the house to reach its intended profit.
What about online casinos? Mathematics is also a base, here. But, unlike real-time casinos, online versions use different stimulants. They come in the form of promotions and bonuses, to keep the players interested. In both cases, mathematics work only if a large number of players use their services, and this is good news for you.
Because even if the statistics seem too low, there’s still a good chance to win, since it is always calculated by including a larger number of players. The trick is not to push yourself over the edge. In other words, when you feel like pushing your luck, the only thing left for you to do seems to be to leave while you’re still in the lead. Also, don’t try to make up for lost time anyway – that is, never chase your losses.
All of this sounds very logical if you think about it. For example, if gambling was such an easy activity with a super high probability to win, then it would be everybody’s choice. Every single individual would make it their primary source of income. Since this is not the case, it is useful to be aware of all the risks before one decides to gamble. When it comes to money, and financial loss, things tend to get complicated, which makes the risk quite real.
Luckily, most of the online platforms have created a way for players to get out of this mess, if they ever find themselves there. For example, you can apply for a refund when you lose a bet, or deposit a certain amount of money.
This is also one of the reasons why platforms offer bonuses, we highly recommend you use as much as possible for your advantage. It is also one of the criteria you should have in mind when choosing a suitable platform to play on.
Finally, we can conclude that when we look at the possibility of gamblers acquiring a statistical advantage over the house, there are little or no chances this is possible. However, this doesn’t mean one cannot make a profit while gambling.