To be a successful gambler, knowing about odds – or house edge – will give you a great advantage. Knowing what the odds of a casino game are helps you know which games are likely to give you higher winnings for your money compared to other games. Basically, this means that Kiwi players should go for casino games that give them a higher chance of walking away with more money than they went in with. In other words, look for casino games with the lowest odds or house edge.
So, before we delve into what exactly the house edge is, remember that it always favours the casino hence the phrase “the house always wins”. Kiwi players will never find a casino game that completely favour them. But, with our guide, you’ll be able to go in a bit wiser when picking a casino game to play to maximise your chances of winning.
What are Odds?
Odds are an indicator of how likely a specific event is to happen in a game, and how much you’ll win if that even occurs. The odds favouring the house – the house edge – are the statistical advantage the casino has in a game. This is calculated by looking at the payout percentage or rate.
Usually, they are written in two different ways at casinos: as fractions and as percentages.
This house edge is written like a fraction and you can easily calculate how much the casino payout will be. If you bet the second number, you win the first number. For example, if the odds are 10/1, if you bet $1 you stand the chance of winning $10. Another example is, let’s say the house edge is 5/2 and you bet $4. You’ll win $10 because the additional 2 from the $4 bet is multiplied with the 5 to give you $10. Still, using the 5/2 odds, let’s make the bet $8. This means that you’ll win $20 because the additional 4 from the bet multiplied with the 5 gives you 20.
This version of a house edge is just the fractional odds being converted into a percentage using a formula: house edge in % = B / (A+B). A is the first number and B the second. So, still using the 5/2 fractional odds, we can calculate the percentage odds by plugging 2 / (5+2) = 0.29. Multiply that by 100 and you get 28%. This means there’s a 28% chance of an event happening.
10 Casino Games with the Lowest House Edge
Let’s look at 10 popular casino games with the lowest odds. We’ll start our list from the highest to the lowest. The house edge here will be in percentages.
This table game has a house edge from 6.39% to 4.82%. It’s one of the oldest casino table games and is played with dice.
9. Caribbean Stud Poker
This laid-back version of poker has odds that start from 5%. In Caribbean Stud poker, you’re playing against the house.
Read more on Caribbean Stud poker.
8. Pai Gow Poker
The Chinese take on poker has a house edge from 2.5%. It’s a mix of Chinese dominoes and poker where players make two winning hands out of seven cards.
Read more on Pai Gow poker.
7. European Roulette and French Roulette
Unlike American roulette with the double zero pocket, the single zero in European and French roulette increases the player’s odds of winning with a low house edge from 2.5%. Roulette is notorious for being a game that favours the house but with these two versions, you have a better chance of winning.
The odds are from 2% to 10% with pokies, the most popular casino game. However, low the payout may be compared to other games, online pokies come with free spins, bonuses, and jackpots.
Read more on pokies.
5. Video Poker
The house edge on video poker is from 5% to 0.5%. Some casino pundits say that it’s possible to get 0% odds on video poker, given that the player uses the right strategy. However, casinos still make money from it so we doubt that’s the case. Try out the simple games like Jacks or Better for a great time.
Read more on video poker.
4. Three Card Poker
This faster version of poker has odds that start at 1.5%. It has become quite popular at online gambling sites for its speed. Each player, and the house, get three cards and the King pays the highest returns.
Baccarat is a relaxed basic strategy game that has odds from 1.5%. It’s a card game with rigid distribution rules where you bet on just three outcomes.
Read more on baccarat.
The odds on craps start at 5% all the way down to 1.4%. This exciting casino game can seem intimidating because of all the rules. But it has one of the lowest house edges versus other casino games.
Read more on craps.
Single deck blackjack has the lowest odds which start from 1.5%. When you play the single deck variant, your chances of winning improve a lot. Just have a good strategy and disciplined bankroll management.
Read more on blackjack.
Kiwi players can find these great games at our recommended NZ casinos online.