Casino Stats: Why Gamblers Rarely Win

Chris Neger has more than 10 years of writing in articles on printed materials and online publications. Contributed to BBC, The Motley Fool, AOL, etc.

Updated September 23, 2024 Returned by fact Facts are managed by spear Perez

Yarireto Perez is an experienced multimedia journalist and a specialist who has a master's degree of journalism. In various cities, he is in charge of breaking news, politics, and education. Specializes in personal finance, investment, real estate.

Part of the series Gambling and sports: what you need to know

Investment in sports betting

1. Live Betting: its content and mechanism
2. Speculation against gambling
3. The best gambling ETF
4. Best sports rate promotion
5. How to invest in sports teams and groups

1. Definition of sportsbooks
2. Bookmaker
3. Why does the house always win?
4. Casino statistics: Why can't gamble rarely win?

Current article

1. Mathematics that is the basis of coefficient in betting and gambling
2. Mechanism of rate in betting
3. Spread coating
4. Money line
5. Over/ under
6. Parkra i-Type of betting?

1. What kind of tax does gambling prize cost?
2. Gambling loss
3. Gambling income

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In the economic recession, it is normal to consider an alternative to surplus funding, but if you think that gambling is one of the good alternative, read it as it is.

When you cross the casino threshold and exchange money with a chip, you lose the only advantage of not going to the casino from the beginning. Casino may provide wonderful shows, meals and entertainment, but according to statistics, nothing has come after.

Key Takeaways

• Gambling is not the best option for earning temporary income.
• All games played at the casino have a statistical win rate and are better than other games.
• The probability of a slot machine is in the worst category. If you play with a maximum number of coins, the probability that you can get the maximum prize is one to 1/5, 000 to about 1 /34 million.
• In 2022, the gambling income from commercial casinos was about $ 60. 46 billion.
• In 2023, gambling companies' commercial casino revenues increased 10 % yea r-o n-year to $ 66. 5 billion, which includes traditional games in casinos, sports fees and online games.

Big Business and Big Profits

Casino gambling is a business that makes it so profitable. In 2022, the income from gambling at commercial casinos reached a record high of $ 60. 46 billion, an increase of 14 % yea r-o n-year, and the highest in the second consecutive year, as the industry has continued to recover after the Cobit 19 epidemic continued to recover. It became.

In 2023, the US pay-to-play gambling industry returned to phenomenal profitability, setting new record profits for the third consecutive year. Pay-to-play gambling revenue reached $66. 5 billion, up 10% from 2022.

Revenues were mixed, with classic casino games, including slots and table games, bringing in $49. 38 billion, up 3. 3% from the previous year. Sports betting made a bold recovery, with profits increasing 44. 5% from 2022 to $1, 092 billion. Also, iGaming (online casino) profits were $6, 017 billion, up 22. 9% from the previous year.

While the performance of each state varied, almost all states achieved unprecedented success. In 2023, 30 pay-to-play states achieved record annual revenues. Nevada continues to lead as a major gambling market, with sales of $15. 5 billion, followed by Pennsylvania with $5. 86 billion and New Jersey with $5. 77 billion.

In 2018, the U. S. Supreme Court allowed South American states to legalize sports betting if they wanted to. As of September 2024, it is legal in 38 states. Two states (Oklahoma and Missouri) are still undergoing intensive legal development.

Games of No Chance

Mathematics is a universal language and rarely lies. Every game you play in a casino contains the statistical possibility that you will not win every time. However, the company's advantage varies from game to game. Ultimately, this advantage allows casinos to prevent gamblers from losing money in the long run.

For someone who is really good at playing blackjack, the casino's advantage might only be 0. 5%, but depending on the type of slot machine, they might have a 35% advantage against the player, and other games lie somewhere in between. Slot machines are said to have the worst odds, with odds of winning the top prize on a coin flip ranging from 1 in 5, 000 to 1 in 34 million.

In fact, it is clear that the house's advantage is not considered insurmountable. However, this means that the more you play, the more the math works against you and the more likely you are to leave the casino with less money in your wallet than when you came.

The table below shows the house odds for some popular casino games.

Casino Game Odds
Game	Rate/Rules	House Odds
Baccarat	Banker	1, 06%
Player	1, 24%
Drawing	14, 36%
Giant Six	$1	11, 11%
$2	16, 67%
$5	22, 22%
$10	18, 52%
$20	22, 22%
Joker/Logo	24, 07%
Bonus 6	Uninsured	10, 42%
Insured	23, 83%
Blackjack	Vegas Free Standard	0, 28%
Caribbean Stud Poker	5, 22%
Casino Battle	Tire fight	2, 88%
Borrow a tie	3, 70%
Bet on a tie	18, 65%
Ride the wave	0, 50%
Craps	Pass/Arrive	1, 41%
Don't pass/Don't pass	1, 36%
Probability - 4 in 10	0, 00%
Probability - 5 or 9	0, 00%
Odds - 6 or 8	0, 00%
Field (2:1 by 12)	5, 56%
Field (3:1 by 12)	2, 78%
Nonsense	11, 11%
Big 6, 8	9, 09%
Difficult 4, 10	11, 11%
Difficult 6, 8	9, 09%
Place 6. 8	1, 52%
Place 5. 9	4, 00%
4th place 10	6, 67%
4th place (eliminated) 4.	3, 03%
2, 12 and all difficult passes	13, 89%
3, 11 and all easy passes	11, 11%
7 books per hand	16, 67%
Crazy 4 Poker	Ali	3, 42%
Double Down Stud	2, 67%
Heads Up Hold'em	Dark Payout Table #1 (500-50-10-8-5)	2, 36%
Keno	25%-29%
Let It Ride	3, 51%
Pai Gow	1, 50%
Pai Gow Poker	1, 46%
Peak 'Em Poker	0%-10%
Red Dog	6 Decks	2, 80%
Roulette	One Zero	2, 70%
Double Zero	5, 26%
Sic Bo	2, 78%-33, 33%
Slot Machines	2%-50%
Spanish 21	Dealer wins on a soft 17	0, 76%
Dealer stands on a soft 17	0, 40%
Super Fan 21	0, 94%
Three Card Poker	Pair Plus	7, 28%
Game with Ante	3, 37%
Maximum Texas Hold'em	Ali	2, 19%
Video Poker	Jacks or something (paid in full)	0, 46%
Wild Hold'em	6, 86%

Source: Wizard of Odds

Everyone’s (Not) a Winner

All these profits are considered the result of the accumulation of all the losses that casinos receive from customers every year. Of course, there will be revenue from other facilities in the casino, but the games are considered the cash cow of this industry.

Imagine going to a casino thinking that you will win (or will win) because luck (whatever it is) is on your side. Realistically, it is not possible. You cannot bet on a winning or losing streak. If you have a series of bad hands, there is no chance that it will turn into a winning streak. This is not just a card problem, nor is it a math problem.

If you have a gambling problem, call the National Gambling Helpline at 1-800-522-4700 or visit ncpgambling. org/chat to speak to a helpline specialist.

The Betting Rip Current

Some people end up in a bind that far exceeds the entertainment value of the game, rather than just relaxing at the casino. Only a small percentage of players end up in this state, but unfortunately, it is said that the cost accounts for a quarter of the casino's profits. This is more important in understanding the establishment's advantage and how it works vis-à-vis players who have lost a lot of the money they need and spend a lot of time at the casino trying to get it back. The more the player tries to get it back, the more additional costs they incur.

Is Gambling a Viable Alternative for Earning Extra Cash?

With this IRGE playing in a casino, you have a statistically higher chance of not winning, making it a gambling that is not suitable for those who want to increase their personal income. But this IRGE advantage is, in a way, the end result for casinos not to lose funds for a long time. But gambling has every chance to be attractive, not to create bets for the benefit of your money.

How Do Casinos Make Their Money?

Casinos have every chance to weld to dining, rest and other facilities, but games are considered the industry's cash cow. A significant part of the casino's advantage is the result of having a gathering place for all the losses of casino guests every year.

Does Playing More Increase the Odds of Winning?

All this IRGE coefficient unfolds in favor of the casino. That is, the more you play, the more the math works against you, and the more likely you are to leave the casino with less money in your wallet than when you entered the casino.

The Bottom Line

In almost all cases, you don't enter a casino and place a bet for financial gain. If you want to experience the same, retire now. It's literally in your head to keep the winning streak going.