Every player wants the best odds possible, whether they are playing online casino games or trying their luck at a live casino. It’s only natural to want to have the best possible edge when playing casino games, as winning is the ultimate goal at the end of the day.
Now, you might be wondering which has the best odds — at an online casino or a land-based casino. In this blog, you’ll get a closer look at what winning odds are in relation to casino games, what the RTP and house edge of a casino game are and whether you’ll find online casino odds are better than those found at a live casino.
What Are Casino Odds?
Before you play any kind of casino game, it’s essential to understand the concept of casino odds. What are they and how will they influence your success?
Casino odds are the mathematical chance that you have of winning or losing a wager when you play a game at a casino. They are typically shown as a ratio of the number of ways to win, like 1:5,000 or as 1 in 5,000 chances of winning. However, more often than not, a casino will give these to you as a percentage, which is the house edge or the RTP, which will be discussed below, as it’s important to know the difference.
Difference Between Odds, House Edge and RTP
The odds of a game, the RTP (Return To Player) and the house edge are all similar concepts. However, they differ slightly and they are calculated in different ways. This is what they stand for:
RTP
The return-to-player percentage is one of the most important factors to consider in any game. It indicates the percentage of all bets on a particular game that is expected to be paid out over time. The higher the RTP, the better, as this means more money will be paid out according to how much is wagered on a particular game. Keep in mind, however, that this doesn’t mean you’ll get paid back 96% of your wager on a 96% RTP game. Instead, it means that 96% of ALL wagers over a long period of time will be paid out to players.
House Edge
The house edge is the exact opposite of RTP. It shows the casino’s advantage over the player in every casino game. It’s also expressed as a percentage, which shows the profits that the casino expects to keep from every bet placed on a game. So a house edge of 5% indicates the casino expects to keep 5% of every wager placed on a particular game. The lower the house edge, the better for the player.
Game Odds
As mentioned above, the game odds are the likelihood that a player will win their wager in a particular game. So if they have a 1 in 5 or 1:5 odds, it means that they have a 20% chance of winning the wager.
Use these three aspects of games together and you’ll get a good idea of your chances of success at a particular casino game.
Online vs. Land-Based Odds
People play casino games online for many different reasons, from convenience to game variety and everything in between. Are they getting more bang for their buck? Do online casino odds really beat those found at land-based casinos?
The truth of the matter is that it completely depends. The odds found at an online casino and those found at live casinos can vary greatly. Generally speaking, you’ll find better odds at an online casino because they have smaller overheads. They don’t have rent to pay, they have fewer staff members, etc. So, you’ll find that many classic casino table games, including blackjack, tend to have a lower house edge in an online casino.
However, it’s important to keep in mind with games like poker, where success relies on skill more than other games, that the house edge can be manipulated in your favor depending on how good you are at the game.
The opposite is true of games like slots, whether online or at a machine in the casino, where absolutely no luck is involved. The odds for these games are pretty standard across the board and this is because they are run by a computer system that ensures random results and fair play in casinos and online.
The Best Way To Improve Casino Odds
There are undoubtedly pros and cons to playing both online and at live casinos, but ultimately the odds are so variable from casino to casino and game to game that it’s impossible to say that one is better than the other.
However, there are a few things that you can do to ensure that you have the best odds possible of winning your next casino game, whether that’s an online blackjack live dealer game or Texas Hold’em poker at the casino. Here’s how:
Look at the house edge
Before you pick a game, always check out the house edge. The lower, the better when it comes to the house edge, so always choose a game with a low percentage.
Consider the RTP
The higher the percentage when it comes to RTP, the better and this will vary for different types of games, as well as different versions of the same game. For example, one online slot might have an RTP of 96.9%, while another might have 95%. Always go for the higher RTP.
Understand the volatility
The volatility of a game will determine how often it pays out and how substantial the payouts will be. A high-volatility game will pay out infrequently but will have excellent payouts, while a low-volatility game pays out small amounts relatively often. Decide which kind of game you want to play. High volatility is a high-risk, high-reward situation. The most reliable is likely to be something with medium volatility.
Do your research
Before you play any game, it always pays to do your research. BetMGM has quick tips for the most popular online casino games, game reviews and more on its blog.
Learn the rules
You have very little chance of winning a game if you have no idea what you are doing. Before playing any game, you should go over the rules and familiarize yourself with them.
Practice
Practice makes perfect and many online casinos offer free casino games for you to do just that. Take advantage of these free games and practice playing them before you put down a wager. You’ve got a better chance of winning with some experience behind you.
Get the Best of Both With BetMGM
With BetMGM, you can get the best of both worlds by playing at the online casino site for convenience and hitting the tables at the casino resorts for something a little more social. BetMGM has a huge variety of online games, as well as an informative blog where you can get tips and tricks or read interesting articles on the future of land-based casinos and more.
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