My House vs. “The House”

For nearly everything we do, we have the choice of doing the classical, real life, way or online. We can shop in a store or do it online. We can meet friends in a cafe or do it online. We can hold a real book in our hands or read it online.

Our choice will depend on convenience, costs or plainly on what we enjoy more. So what about casinos? Which one is better, the weekend at Vegas or the evening on the couch? To answer that, we should at least know how casinos work.

How casinos work

Although we all like to think that casinos and slot machines are all about luck, the truth is that it is all about numbers and statistics.

In the (serious) gambling world the magic number is the payout percentage, or from the other perspective, the house edge. This varies from game to game, and with some games, like slot machines, varies from casino to casino. To put it simply, the house edge is how much money the casino will make for every played dollar, in the long run.

How much the house earns on every dollar does have a direct influence on the player’s chances of winning, theoretically, but how much the house is capable of making may be as important, if not more important for the player.

Gambling is all about numbers and statistics, most of us have already heard the saying that, the house always wins. So theoretically opening a casino is a no-brainer, you can’t lose, the statistics guarantee that you always win. But how come a lot of big names, including some heads of states, have gone bankrupt with their casino projects? It is a matter of management and customer satisfaction.

A casino will make a profit on every dollar that is played within its system , but it is also a business that has expenses to cover, and like any other business it has to earn more money than it spends to stay alive. The more customers a casino has, the more money is played and the more money the casino makes.

How can the success of a casino be beneficial to a player?

Payout: The most obvious, and important, reason is that the house will be capable to pay you out if you should win. What’s the use of beating the odds and winning the jackpot if the house doesn’t have enough money to pay you out.

Goodies: We’ve seen it in nearly every Hollywood movie, you win a few rounds and the house treats you to a fabulous, luxurious suite. Even if you are not a big player, there are still free drinks and cheap buffets to sweeten your stay.

Bigger Jackpots: Mostly in online casinos, that can not offer free rooms and drinks, they attract customers with the highest payouts for slot machines and the likes. This is only possible if there is a large enough number of players who can constantly fill the Jackpots, making large payouts possible.

Virtual vs. Real

Gambling has evolved into an entertainment industry, places like Las Vegas have nothing in common with what we used to see in gangster movies, and online casinos use state of the art technology to keep visitors entertained and the gaming environment secure.

Like everything the choice is yours. You can either sit across the table from Marie, or John, and enjoy your latte, or Skype them. You can either feel the pages of a book in your hands or read from your Kindle. You can either pack your bags for a weekend in Vegas, or try your luck from the comfort of your living room. Your luck remains the same.