Casino, Sports Betting, and Lottery – A Comparison of the House Edge

The house edge, which is the commission that a gambling agent such as a

casino, a sportsbook (bookmaker), or a lottery administrator charges, is a

yardstick that measures how a specific gambling game is fair and reasonable.

It is one of the most important factors that every player should consider whenever he/she is engaged in any type of gambling, inasmuch as it indicates how much of the money wagered goes to the gambling agent’s pocket and how much is redistributed to the winners. Indeed, a house edge cannot be zero since casinos, sportsbooks, and lottery administrators have to make some money in order to cover their expenses, and to make some profit as well. Yet, a high house edge simply means that the players are unnecessarily being ripped-off, and as a result, any gambling game with a high house edge should certainly be avoided by a

knowledgeable gambler.

In this article, we shall compare, in the simplest way

possible, the house edges of a roulette, an evens-odd betting, and a Cash 3

lottery game as representatives of the three major gambling categories.

The Equation

The easiest way to compute a house edge is to compare the actual winnings that are

paid by the respective agents to the winnings that would be paid in a

fair game or bet. A fair game or a fair bet is one in which no commission

is involved; an obvious model is a game between friends. Therefore, in

percentage form, the house edge is obtained by subtracting an actual game winning

from a fair game winning and dividing the result by the fair game winning,

finally multiplying by 100. Thus,

House Edge = [ (fair game winning – actual game winning) / fair game winning ] *

100

Roulette

Because of its simplicity and popularity, we shall consider the roulette as a

representative casino game. A European roulette wheel has grooves marked by the

numbers 0 to 36; the American wheel (also called Las Vegas wheel) has an

additional groove marked as ’00’. So, the European wheel has a total of 37

numbers, while the American wheel has 38. Internet casinos usually make available

the option to select the type of wheel the customer prefers, but the brick and

mortar casinos normally offer only one type. The winning number in a roulette

game is the number corresponding to the groove where a spinning ball lands.

Now, consider a fair game in which 38 friends are playing the roulette at home,

and each one selects a number and places a $1 bet on the number (no two or more

players wagering on the same number). When the ball is spun and lands in a

groove, the number marking that groove will be the winning number.

The person who has selected this winning number collects all the money on the

table thus making him win $37. On the other hand, if the game were conducted in

a casino, the winner would be paid only $35. The difference between the two

winnings applied in the above equation gives us the house edge of a roulette game

as

( 37 – 35 ) / 37 * 100 = 2 / 37 * 100 = 5.4%

This means that every time you spend a $100 on an offline or online casino roulette, $5.40 goes to the casino and the rest is redistributed to the winners. Evidently, there are quite a number of casino games and the house edge varies

from game to game, many of them having a house edge less than that of the

roulette. For obvious reasons, a good gambler always prefers games that have low house

edges, while the casino itself loves those games with high house edges. For example,

the house edge of craps is 1.4% which makes it one of the most preferred casino

games by the players.

Even-odds Sports Betting

Again, because of its simplicity, we shall consider an even-odds betting as a

representative of this category of gambling. By even-odds we mean that the event

(usually a sports game) has equal chances of going either way. An example is a

tennis match between two competitive players each of which has an equal chance

of winning the match.

A fair bet, in this case, is just a simple bet between two friends who just

pick one of the tennis player as winner. If these two friends wager $1 each, the

winner will collect $2, thus winning $1. If instead the bets are placed

through a sportsbook, the winner will collect only $1.91, since the odds of an

evens game at most bookies and online sportsbooks is 1.91. If you are not familiar with the

decimal representation of odds, 1.91 is the same as 10/11 in UK notation and

-110 in US odds notation. Odds of 10/11 mean that you’ll win $10 when you wager $11; and odds of -110 mean that you have to wager $110 in order

to win $100. Anyway, since the winnings paid by a sportsbook is only $0.91, the house

edge of an even-odds betting
will therefore be

( 1 – 0.91 ) / 1 * 100 = 0.09 * 100 = 9%

So, this is how sportsbooks make a living. Since several internet sportsbooks offer odds higher than 1.91 in order to lure

bettors, the house edge could be smaller than 9%, which is one of the things that the bettor should be looking for when searching for a sportsbook. On the other hand, if the bettor is

wagering on parlays the house edge would be significantly higher than 9%; for

big parlays, it could go as high as 40%.

It should be apparent by now that the gambler is better off with casino games

than sports betting. It should also be noted that while the house edge could

be a major factor to consider while selecting a gambling game, it is by no means

the only one. For instance, one should consider the fact that casino games are

mostly games of chance, while sports betting also involves a learned decision in

selecting a pick, consequently leading to a higher probability of winning a bet.

Cash 3

Depending on the state you are in, this lottery game may be known by a

different name such as Pick 3, Play 3, Daily 3, etc. In this game, the player

selects a three-digit number from 000 to 999, and plays the number as a straight

or as a box. A straight play is a prediction that the number will come exactly

as selected while a box is a prediction for the number to come in any order. For

instance, if a player selects the number 672 and plays it straight, he/she will

win if the number drawn is exactly 672. Instead, if the player plays 672 as a

box, he/she will win as long as the drawn number contains a 6, a 7 and a 2, in

any order (276, for example). Obviously, a straight game pays much more

than a box game for the same amount wagered.

Now consider 1000 friends (maybe in a club) selecting a number as a straight,

each for $1, so that all the 1000 possible numbers are covered. When the winning

number is drawn, the person who has selected that lucky number will be deemed a

winner and will cash in all the $1000 collected, so making him win $999. This is

a fair game. In the case of state lotteries, however, the winner will be paid

only $500 in most states. Some states may pay a little bit less, others may pay

a little bit more, but $500 is more or less the standard. The winner therefore

wins $499. The house edge for a Cash 3 game will therefore be

( 999 – 499 ) / 999 * 100 = 500 / 999 * 100 = 50%

This house edge applies not only to the Cash 3 game but also to all state

lottery games such as Play 4, Cash 5, Mega, Fantasy 5, Lotto, Power Ball, etc.

So, whenever you are playing the state lottery, remember that you are wagering

only half of your money on the actual lottery; the other half, you are

just giving it away. Where this other half goes is not the gambler’s concern,

since his/her main objective is to win some money in order to pay the ever

present bills, or to get out of a miserable life, or to change his/her

20-year-old car. As regards contributing to education and other noble causes,

there are other means of collecting money called taxes and charities.

Unfortunately, many states do not allow casino games, and furthermore,

sports betting is illegal in the United States. The player is therefore left

with no choice but to cross state borders in search of a casino, or more

recently, to engage in online sports betting through the several offshore

internet sportsbooks. Nowadays, there is a plethora of trustworthy online

casinos and sportsbooks operating from Canada, the UK, Antigua, Costa Rica, and

so on.

The Conclusion

As far as the house edge is concerned, it has been shown that casino games

are the best choice for the gambler. On the other end, any state lottery is a

pretty miserable game to play. Nevertheless, besides the house edge, there is

also the possibility of winning to consider.

Casino games, like lotteries are mostly games of chance; the player just

selects a number or numbers and waits to see what luck brings him/her. There is

absolutely no basis to prefer one number to others. Some people try to analyze

previously drawn numbers in order to see the trend and predict the next numbers.

This strategy may work a few times, but not always. Keep in mind that it is the

players, and not the machines, who remember the previous numbers. In short, the

possibility of winning a roulette or the lottery entirely depends on luck.

While there is little or nothing that a roulette or a lotto player can do to

initially select a possible winning number, the situation could be quite

different in the case of betting. With a lot of information and some assistance from

sports handicappers, it is possible to predict the outcome of a sports event

with more certainty than predicting a Cash 3 number.

How to Bribe a Bouncer in Las Vegas

Las Vegas is an amazing place to gamble, eat and especially party. If you are impatient like me, you won’t want to wait in those 2 hour line ups. Most of the popular clubs in Las Vegas have a two hour line up. Bribing a bouncer might be the best decision you ever make while partying in Las Vegas. Everyone working in Las Vegas knows that money talks and you can have literally anything if you are willing to pay for it.

These bouncers need money since they probably only make $10/hour. You are simply redistributing the wealth from your pocket to his. I win, and he wins, it is a win win situation. In order for you to smoothly bribe a bouncer into letting you into the club, you have to know what you are doing. Walk up to the front door bouncer and ask him how it’s going. Tell him you are looking to get your party into this party. You should probably give him $20 to $40 a person.

Don’t worry about the cost since you won’t have to pay the door fee which is usually $40 anyways. You are getting into the club and spending the same amount of money to skip the line. While everyone else stands at the back of the line complaining, you will be downing shots of tequilas with models from LA. Be sure to hand the money in the form of a handshake. You don’t want to bring attention to yourself or the bouncers. Be confident when you walk up to the bouncer as if he is your long time friend. Have fun in Vegas and be sure to “grease” your bouncer to bypass the line.

The Importance of Online Casino Software

To ensure that their guests have an enjoyable experience, online casinos rely on gaming software to power their selection of games. This software is developed by third-party software companies like Playtech, Rival Gaming, Cryptologic, Vegas Technology, and Realtime Gaming, who are the “big five” in web casino software.

Software developers have to create online casino games that look and sound as much like the games in land casinos as possible. The games must also function reliably, and they must be fair and honest. Internet gambling sites typically sign multi-year licenses with software developers, and the developer is required to maintain and upgrade the games and is usually required to introduce new games periodically.

Right now there are three basic types of software used by casinos online: Flash-based instant games, downloadable games, and apps for handheld mobile devices.

Flash based games allow you to play directly from your internet browser. The big advantage to these games is that you don’t have to download anything, and you can basically play immediately once you have an account at the online casino.

Downloadable games require you to download the game onto your own computer. While there is a time factor involved in the download depending on the type of internet connection you have, downloadable software generally has better quality graphics and are more stable. There are large numbers of downloadable games to choose from.

Game apps for mobile devices like smart phones are the newest type of games that online casinos are getting into. These allow people to gamble from pretty much anywhere, freeing them from having to have a fixed internet connection in order to play.

The software and online gambling industries are currently undergoing a period of consolidation, with many mergers and acquisitions taking place. Casinos say that this will improve the player experience and make for bigger jackpots. In one case, one of the casino software giants, Playtech, is getting into the casino business itself, by purchasing Intelligent Gaming Solutions Ltd., a UK casino management systems company.

Playtech is an extremely successful casino online software company, experiencing gains of 26% in revenue in 2010 versus 2009. They recently introduced a number of very popular slots games, including Ironman 2 Slots, which looks like it will become iconic in the online slots world. They have also begun developing online sports betting software.

When you choose online casinos to play at, be sure that you check to see that they use one of the highly regarded sources for the software that powers the site. This information should be fairly prominently displayed on the home page of the website.

Software is the engine that drives the games on gambling websites, and it is what determines how well you enjoy your experience. Always ensure that the casino you visit uses reputable software providers and that the software is regularly audited by well-regarded third party auditing firms. This will give you the reassurance you need to have a great time, with confidence that the games are fair and that the payouts advertised on the site are accurate.

Mandalay Bay Hotel in Las Vegas – A Review of This Fine Hotel

The world renowned Mandalay Bay Hotel, Las Vegas, is considered one of the best hotels in Las Vegas, offering superior luxury and amenities that are fit for both royalty and members of state. Its unique, but tasteful architecture and beautifully manicured, tropical landscapes are truly picturesque and worth seeing. It is conveniently located near the city’s only monorail train system, giving guests easy access to virtually everything the strip has to offer.

With 3,300 guest rooms, the Mandalay Bay Hotel, Las Vegas, offers comfortable surroundings, high end décor, a multitude of amenities and outstanding landscape views. Other services include 24-hour security, wedding chapels, laundry/dry cleaning facilities, maid service, room service, over 13 restaurants, concierge, free parking and so much more.

The hotel’s casino is reminiscent of the finer establishments of the wealthier parts of Western Europe. It has over 120 gambling tables that offer everything from Poker to Roulette, and even houses a high-stakes zone. For those who prefer slots and video games, there are over 2,400 to choose from, and a betting shop for sports enthusiasts.

Entertainment at the Mandalay Bay Hotel, Las Vegas, is found at its famous event center, where many theatres host rock concerts, musicals, and class theatrical acts from London, Paris, New York and Los Angeles. It biggest theatre can seat up to 12,000 people, and has seen such entertainers as Bob Dylan and Chicago.

For quieter pursuits and complete relaxation, the resort’s collection of fine boutiques and stores sells souvenirs, jewelry, luxury trinkets, clothing and flowers. Behind the hotel is a full 11-acre water world with a beach, rivers, pool, surfing pool, swimming pool and bungalows, a luxury gym and complete running track, a large aquarium with over 100 animal species, a drinking lounge and a fully equipped nightclub.

Business visitors to the Mandalay Bay Hotel, Las Vegas, have access to nothing, but the best of the best banquet and meeting rooms, complete with top line equipment, staff and catering services. Other business services are available upon request.

The Mandalay Bay Hotel, Las Vegas, has sheltered guests from queens and kings, to presidents and prime ministers, from all over the planet. It has seen its fair share of millionaires and billionaires, but even to this day, the hotel welcomes people from all walks of life, offering a taste of real luxury, even for just a moment in time. This hotel is truly one of the strip’s best bets and best values for money!