Online Casino Odds Vs Land Based Casino Odds
Gambling is a pastime that has been around for a long time. The advent of technologies significantly changed the landscape of the gambling industry, bringing the concept of virtual casinos. According to some industry insiders, online casinos tend to push their land-based counterparts into extinction.
However, the old-school gambling establishments are still preferred by a good-enough number of players, so the grave predictions were quickly dispelled. But the fact that virtual casinos sucked a remarkable number of the brick-and-mortar casinos’ customers proves that virtual casinos are prolific and have no intention to step backwards, but even the opposite.
Currently, the pinnacle of casino technologies gave rise to the highly popular live dealer games that came under the spotlight some time ago. We cannot say for sure whether the land-based gambling establishments will succumb to the web-based casinos in the future, but we must admit that the virtual casinos come with a number of worthwhile advantages.
What are Casino Game Odds and House Edge
Whether you prefer playing at a land-based or a virtual casino, you will inevitably hear the terms “odds of the game” and “house edge”. The first term relates to the probability of a certain event occurring compared to the probability of the same event not occurring.
For example, if you roll a standard dice with six sides and you place a bet on the number 6, your winning odds are 1/5, as there is only one way to win and five different ways to lose. The odds are divided into two types as described below:
- Fractional odds – these are easily recognized as they represent two digits separated by a slash (e.g. 1/5).
- Decimal odds –it is easy to convert fractional odds into decimal odds. You should divide the number of an event occurring by the number of the same event not occurring in order to calculate the decimal odds. For example, 1 ÷ 5 = 0.2.
It is important to note that odds and probability are often used as synonyms, but they denote two different things. To calculate the probability of winning, you need to divide the number of ways something can happen by all possible outcomes.
If we go back to the example with the dice, you have only one way to win and six possible outcomes. This means that the probability to win is 1/6. This number can be expressed as a percentage: (1 ÷ 6) x 100 = 16.66%.
House Edge Explained
The house edge is the advantage of the casino over the players in percentage terms. Generally speaking, the house edge is the percentage of the players’ bets that the house keeps as a profit. The house edge is usually calculated over the long term. That is the reason why you will hear often that the longer you play, the bigger chance you have to lose.
Each casino game has a different in-built house edge. For example, if you play European Roulette which features 37 pockets on the wheel and you place a bet on a specific number, you have 36 ways to lose this bet and only one possible way to win it. The true odds of winning this bet are 1/36, but the payout for this bet is set at 35:1, instead of 36:1.
The difference in the payout ratio stems from the fact that the wheel features a single zero pocket that gives an advantage to the house. That is the reason why some seasoned players say that the casino never pays fair odds. However, this is a legal practice adopted by both land-based and virtual casinos.
Lowest vs Highest House Edge Games
As we mentioned above, the house edge varies between games. Other factors such as the games’ specific rules and bets can also affect the house edge. Blackjack, craps, and baccarat are said to have the lowest house edge assuming that you play their standard variations. Blackjack comes with a house edge lower than 1%. As for craps, the house edge varies from 1.36% to 16.67% depending on the bet you place. What is more, some of the craps’ bets are paid according to their true odds, meaning that the house has no edge.
Baccarat also has a double nature when it comes to its house edge rate. The house edge varies significantly between the bets you place, with wagers on a Tie having a whopping house edge of 14.36% and bets on the Banker coming with a slight house edge of 1.06% (players should keep in mind that the casino leverages a 5% commission on all winning bets on the Banker).
On the contrary, the players who prefer riskier games can play American Roulette, keno, or slots as these come with a higher house edge. The house edge tied to American Roulette is pegged at 5.26%, keno comes with a ranging house edge from 25% to 29%, and slots’ house edge fluctuates from 2% to 15%.
Virtual Casino Games with Better Odds
There have been a lot of debates between passionate gamblers of whether land-based casinos are better than their virtual counterparts. Land-based casinos offer a better atmosphere, most even throw in some free accommodations, food, and drinks. They have more staff, and the interior decoration in most cases is superb.
Needless to say, land-based casinos have higher expenses compared to their virtual rivals. Thus, land-based casinos have to make more money in order to compensate for their costs. That is why some of the games they offer have lower payouts and worse odds.
The brick-and-mortar gambling establishments usually offer slot games with a lower return to player (RTP) rate compared to the virtual gambling sites. So, if slots are more to your liking, we would recommend you to choose a web-based casino where you can find slots that feature RTP rates of more than 99%.
Virtual vs Land-Based Gambling Experience
Both virtual and land-based casinos have their pros and cons. It depends on the individual preferences of every player to decide whether they will play at a real gambling venue or an Internet-based casino. In a bid to attract more players, virtual casinos offer a number of perks as described in the lines below:
- Convenience – playing at a virtual casino will save you the trouble to travel for hours to the closest gambling house. You can reach the content of a selected gambling website any time you wish to. You do not have to leave the comfort of your home or deal with crowds of people. Moreover, most web-based casinos have optimized their gaming products for mobile devices. This means that players can play even on the go via their portable devices.
- A variety of payment options – most of the web-based casinos accept various payment methods that are very convenient for the players. In case you prefer to remain anonymous while paying at the virtual casino, you can load cash to your gaming account via prepaid cards. It is important to mention that not all payment options are available for withdrawals. Deposits are transferred instantaneously, while withdrawals might take up to 5 business days.
- An abundant selection of games – most of the remote gambling operators offer an abundant selection of games. Apart from the RNG-based gaming products, many Internet casinos also offer live dealer games that bring a real casino experience. The land-based casinos, on the other hand, cannot afford to offer such a diversity in terms of games, as they have limited casino space.
- Some web-based casinos offer demo mode – this feature is inherent only to some games, but we find it very useful especially for inexperienced players and newcomers. In that way, casino enthusiasts will be able to try some of the games offered at a given web-based casino without investing a single penny. Unfortunately, land-based casinos do not offer such an option. Once you enter a gambling establishment and take a seat at a table, you are expected to place your wager.
- Virtual casinos have bountiful bonuses – the online gambling industry is a highly competitive business, with virtual gambling websites popping up every day. To attract new players and retain their existing customer base, the web-based casinos offer various bonuses and incentives. Prior to claiming any of them, we strongly advise our readers to carefully examine the Bonus Terms & Conditions section. Land-based casinos also offer some freebies but these are not as lucrative as the web-based casinos’ promotions.
- Online casinos charge lower bets – since maintaining a virtual casino is less costly, gambling operators can afford to offer lower bets. Hence, players with tight bankrolls can increase the duration of their playtime if they go for web-based casinos. The brick-and-mortar casinos rarely offer a minimum table limit under £10, while at virtual casinos players can find table limits that start from just £0.10.
Brick-and-mortar gambling hubs also come with their advantages. The most noteworthy pros of playing at a land-based casino include a unique gaming environment, social gaming experience, and fewer restrictions in terms of players from different nationalities. The best way to choose where to play is to weigh the advantages and disadvantages of the actual gambling hubs and the virtual casinos and decide which one is more to your taste.