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Estimating the House Edge for Casino Games

When a player wants to estimate the expected loss per hour in any game, they must be able to estimate how many events take place in an hour. In this way the player will be able to determine what is called the “house edge” which is the proportion of each bet that the house expects to take in the long run. It is important to know this because it will give you a better idea of how to manage your bankroll and estimate your losses and possible winnings.

To make this clearer let me give you an example, the Pass Bet in Craps has a house edge of 1.41% which means that if a player wagers on this bet continuously, for every $100 wagered the house expects to get $1.41 and the players can expect to get $98.59 back.

In order to estimate how much you would lose in a game during one hour you can easily compute this from the house edge per bet. To be able to do this the player needs to estimate how many events take place in an hour. In roulette the player needs to know how many spins he can get in an hour and to do that you can easily play online casino games for ten minutes and log the number of spins you get and extrapolate from there.

Once you have done that you can know that the house edge in European Roulette at any casino is always 2.70%, so say there are 60 spins in an hour (hypothetically) and a player wagers $100 in every bet, he can expect to lose $2.70 per bet and with 60 bets in an hour he will expect to lose $162 to the house in one hour.*

This method works for almost every online casino game, the only exception is when you play Craps but we will look at hot to calculate the house edge for this game and other important notes.

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