Why Does the House Edge Always Win?
Some gamblers wonder why does the house edge always win? It simply means at the end of the day; casinos need to make a profit. Therefore, it will always come out a winner because like it or not gambling is a business. The chances of you winning are not greater than those of the casino site.
The Casinos Profitability Model
These are the key factors that make the odds of the casino winning your money greater:
- A gambling site has several built-in advantages for it to win and not the players.
- The gaming platform has a “house edge” which is the profit it plans to make from every casino game. The games use a Random Number Generator which is a program meant to produce unpredictable results. Knowyourodds.net.au believes it is programmed to have more losses than wins.
- The house advantage is different from one casino game to the next. Keno has the highest house edge while blackjack is the lowest.
- Your odds of winning decreases the longer you play, you’re bound to lose money regardless of what you do.
Why Players Gamble Knowing the House Edge Always Wins?
The two reasons people gamble are to have fun and make some money no matter if the possibility of winning is small. Also, some people misunderstand the huge advantage casinos have because they are blinded by the bonuses and other incentives that keep them betting.
You need to understand that casinos are very crafty when it comes to making you stick around. It is possible to make money in the short term but the longer you bet, the bigger the house edge becomes.
Although probability is in the casino’s favor you can be a responsible gambler and walk away while you’re still winning. This is an ideal situation but, in most cases, players tend to be greedy and chase winning. After some time they end up spending their money without getting a payout because of trying to win big.