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Posted December 10, 2014 by GamblingKing in Casino
 
 

How To Gain An Edge At Online Casinos

Gain An Edge At Online Casinos
Gain An Edge At Online Casinos

You’ve probably read countless different strategies for playing online casino games, and whilst I’m sure you’ll agree some just aren’t worth the bother reading, others (depending on your game of choice) are crucial to getting the most of out of your gameplay and achieving as close as possible to the RTP (Return To Player) – such as in Blackjack, Baccarat, Video Poker, and even Video Slots.

Following basic and accepted strategies, in the above mentioned casino games at least, does help achieve the expected RTP, but that’s still in the casino’s favour, and they certainly don’t give the player an edge. The outcome of any given game in Blackjack (or any other casino card game for that matter) or spin on the Roulette wheel is statistically the same no matter what strategy you employ. What most of the strategies which “promise you a profit” rely on is a betting pattern which over hundreds (and even thousands) of bets will theoretically give you a return greater than your initial investment, as is with the Martingale system and any other variation of it.

The House Edge

For the purposes of this article, we’re going to express the edge as the average profit for the player – it’ll be simpler to demonstrate and understand when we get to gaining an edge over the casino.

Let’s take Roulette as an example. The theoretical house edge of European Roulette is 2.7% and has a RTP of 97.3%. There are 37 numbers in European Roulette and for any given even bet there is a 18/37 chance of winning, and 19/37 chance of losing (due to the zero). If we are to express this as average profit to the player, then an evenly placed bet of $100 can be demonstrated as follows:

Average Profit = (Chance of winning)*(Profit) + (Chance of losing)*(Loss)

Average Profit = (18/37)*$100 + (19/37)*-$100

Average Profit = $48.65 – $51.35

Average Profit = -$2.70 to the player (the house edge).

So, How To Gain An Edge?

Taking the above calculation, what if we could reduce the right side of the equation – the losing part? Well, we can. And it comes in the form of casino cashback.

Thanks to our friends over at Cashbacker, we can get as much as 20% of our losses back in the form of cashback.

In short, they operate a service which offers its members the security of cashback when they don’t win, or in other words, money back when they lose.

So, how does this affect our calculation? Well it means that the right side of the equation – assuming we’re getting 20% cashback from Cashbacker – can be reduced by 20%, resulting in the following:

Average Profit = (Chance of winning)*(Profit) + (Chance of losing)*(Loss)

Average Profit = (18/37)*$100 + (19/37)*-$80

Average Profit = $48.65 – $41.08

Average Profit = $7.57 to the player (the player’s edge!)

There you have it. You can see that the cashback has shifted the edge in the player’s favour.

Online casinos themselves as well as land-based casinos also often reward players in the form of cashback, which regular players have identified as a way to shift the edge in their favour, even as far as including free drinks and meals in the right hand side of the equation. With online casinos it’s a little more tricky however, as they will usually apply wagering terms to the cashback, which can also just come in the form of a bonus, which can’t be withdrawn.

It’s therefore also worth noting that the cashback received from Cashbacker is paid directly by them, and so doesn’t have any wagering terms attached to it. For the sake of responsible gambling also, the above calculation is based on the average outcome of a single bet, and so the overall outcome will vary depending on how many bets are placed or if they differ from example given.


GamblingKing

 
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