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How do casinos make money – Roulette

A Roulette is essentially a probability based game played by spinning a wheel. You may wonder, can one control a spinning wheel and profit at the same time? Casinos across the world have mastered the art of controlling your game on the Roulette with some basic techniques. Take a look at how you won or lost at the wheel: 

There are two variations of the game, the American and the European roulette. Players prefer the European one because it has fewer numbers, 37 in total, compared to the American version that has 38 in total. The extra number reduces the chances of betting on the right number but it also increases the payout if you manage to win.

Strategies used:

The Handle

The handle is the total amount that the players have put in bets. Casinos get more income when they find a method of increasing their house edge, the amount of time on each game and the average bet. If there are no bets or if the players are few, then the handle is less and the profit is less. 

Considering the casino as a business model, the overall handle is calculated through a product of the average bet, time spent and capacity use. This is why most casino games are based more on your average bet and the hours that you have played and less on how much you have won or lost. The average bet of most games is constant and a minimum amount is required in most table games. Players may want to play for a lesser amount, but the rules of the casino may indicate that the minimum of the game is $25. 

House Edge

In each bet, the casino usually has a statistical advantage which is called the house edge. The outcome is either favourable to the house or player. The casino win is the total amount of money that the casino is left with after all the players have paid their bets. A roulette table that has zero and double zero. The casino has a house edge of 5.26% in this game. At the end of the game, the casino is likely to win 20% of the drop money. This means that for every $100 that is inserted in the drop box, $20 goes to the casino. The player is likely to make several bets during the game. In the process, they win some or lose some. 

Comps

The players who make large bets or spend lots of time in a particular game may stand a chance to get a gift which are known as comps. Comps are based on the amount of time that a player spends on a game and the number of stakes that the player has put in place. In order to get a chance to get a comp, the player needs to sign up for a slot club card. Comps are more advantageous to the casino than to the players as spending more time in casino games means that the players stand a high chance of making more or losing more bets.

To learn more about how casinos make money, keep reading GutshotMagazine.com

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