As much as online casinos such as Novibet are a great source of entertainment, it’s fair to say the majority of players are looking to win money. If you are new to online gambling and would like to earn some cash, it will be important to not only understand each game works, but also the odds that will be provided.
Understanding Odds
Odds are defined as the probability of a potential result or outcome and are given as a ratio or percentage. The odds of a coin toss are the easiest to work out, as there are only two possible results – heads or tails – and would be described as 50-50 or 1/2.
Now when we look at different casino games, be it Roulette, Blackjack or Craps, we can see that they are all based on the potential outcome of different numbers, just like the coin toss; there are 37 or 38 slots on the Roulette wheel, 52 cards in the deck and 6 sides to a dice. However, the number of possibilities in these games is not something you will be able to work out on the spot, so it will be vital to know what games and strategies will work best, and which to avoid.
House Edge
No matter what game you choose to play, there will always be a house advantage (Poker, where players compete against each other and is more based on skill, is the one exception, but there will be a commission or ‘rake’ taken by the casino). This is commonly referred to as ‘house edge’ and is best described as a percentage that the casino expects to take from each bet. The percentages may seem small, but over a large number of hands, the house can make a very tidy profit.
Blackjack Odds
Blackjack is one of the games with the lowest house edge, but this will vary depending on which playing strategy you choose. Basic strategy can reduce the house edge to 0.8%, but card counting gives the by far best odds and can actually reverse the advantage, giving the player an edge of 1-2%. There is no law against counting cards by memory, though it is common for land based casinos to bar players adopting this tactic. Some wagers should never be placed, such as “Insurance Bets”’, which can increase the house advantage by up to 8%. Having no strategy at all and relying on intuition is a sure way to lose at Blackjack and, on average, can give the casino a 20% advantage.
Craps Odds
Craps is another popular choice for experienced internet gamblers. There are many different betting options to consider, but it will be well worth your while learning how the game works if you are looking to increase your winning percentage. Pass/ Come and Don’t Pass/ Don’t Come bets will offer the player the best chance of success, with a house edge of only 1.14%. Double odds, however, can reduce this advantage to less than 0.6%, while Place 6 and 8 bets are another good wager in Craps, lowering the house edge to 1.24%. However “Proposition Bets”, such as hard 4, 6 or 8, are never placed by experienced players, as the house advantage can rise up to 16.7%.
Baccarat Odds
When it comes to playing Baccarat, the different versions of the game will require varying levels of skill and strategy, although Punto Banco, the easiest and the most popular version, can offer the lowest house edge percentage. In online casinos, there is usually the option of playing either Baccarat ‘banker’, where there is only a commission on each winning bank hand (usually just over 1%), or ‘player’, which has an house edge of 1.24%. One of the worst bets in Baccarat is the Tie, which raises the house edge to 14.36%.
Roulette Odds
Although not as favourable to the player as the games mentioned above, the Roulette wheel does come with a relatively small house edge, but this will depend on which version you are playing: American Roulette, with 0 and 00 pockets, has a casino advantage of 5.6%; while European Roulette, which uses just the single ‘0’, has an edge of only 2.6%. It is easy to see that the latter is the better version to play.
Games with the Worst Odds
Of course, there are certain casino games that should be avoided at all costs. Caribbean Stud Poker is one such example – at best, it has a house edge of 5.26%, but can be as high as 26%. The “Big 6 Wheel” is another notorious no-go, with the casino’s advantage between 11-24%. But the worst of all is Live Keno, which operates similar to a lottery, and will normally have an edge of over 25%.
When it comes to increasing your winning potential at an online casino, it is not only a matter of choosing the right game, but it is also vital that you know how to place your bets. Even if you are just in it for fun, it will always be nice to win some money at the same time.