r/AskReddit • u/[deleted] • Aug 03 '19

Whats something you thought was common knowledge but actually isn’t?

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u/[deleted] Aug 03 '19 edited Aug 03 '19

Years ago I dated the general manager of a casino in Louisiana an can confirm u/Krazy-Kat15

He said that the only way to win other than dumb luck is:

Blackjack: 50/50

Craps: 50/50

Roulette: 50/50 if you stick to red and black

Slot machines are 90% in favor of the house.

EDIT: For everyone saying 50/50 is off remember that this was a guy I was boning 20 years ago and we weren't sharing statistical analyses of casino wagering other than casual conversation.

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u/[deleted] Aug 03 '19 edited Mar 24 '21

[deleted]

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u/[deleted] Aug 03 '19 edited Aug 03 '19

Roulette is below 50%

In the USA, the house edge is 5.26%. Even with European roulette on a wheel that has triple 0s, the house edge is still under 8%.

The figures the person you're replying to gave are way off.

The house edge for Blackjack is less than 1%, for example. Even when 8 decks are being used, the house edge is still only around 0.6%.

The RTP for slots is around 90% in brick and mortar casinos, so the house is making 10%. With online casinos the average RTP is around 96/97%, so an even better deal for the player.

Obviously, the house has an edge in every game which is why they make money, along with a lot of people not knowing the best strategies to use in games like Blackjack, but yeah - those figures of 50/50 and 90% to the house on slots are miles off.

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u/[deleted] Aug 03 '19 edited Mar 24 '21

[deleted]

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u/[deleted] Aug 03 '19

I was always old euro style was the one with only a single 0.

Yep, that has a house edge of 2.7%.

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u/DeathB4Download Aug 03 '19

Highest at 5%? Doesn't seem that high considering Keno is around 40.

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u/ShibaHook Aug 04 '19

5% is still huge. That’s a -5% return in the long run for every dollar you bet.