How does a Casino’s edge work in Blackjack? It feels like the player and the dealer should have the same odds if they play the same (eg, always hit on soft 17).
In: Mathematics
One thing I havent seen so far that should be noted: The full phrase should be the house always wins EVENTUALLY. It’s not about winning every hand. I’ve gone to Vegas now at least once 11 years running and I think I’m net down about $-400 (I don’t gamble much) but there are years I have won out and walked away with more than I went in. If I had hit the $1,000,000 3 card poker royal flush combo, its likely they’d never get enough back from me to make up that loss.
But over time and the entire breadth of their customer base, their advantages mean they win.
So for example, if someone is very good at video poker, puts in $5 bucks and drinks all night for free (as others here have claimed to do and I have seen occur personally), they may walk away as a loss for the house.
But the guy next to them who started out trying to do that, got tanked on cheap gin and tonics, and dropped $200 in the video poker covers that loss.
This is also built into their other pricing models for food, booze, etc.
Like any business, some customers may cost you more money than they make you due to mistakes or pure bad luck. But if you’re structured correctly with the odds of things happening, over time your end result is a positive.
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