Gambling Concept
1Can you explain the concept of "gambling edge" and how it affects my overall profitability?
Re: Gambling Concept
2Think of "gambling edge" like the house always having a bit of an advantage over you. They're set up to make money in the long run. So, knowing this, you can make smarter bets and manage your money more wisely when you're gambling.
Re: Gambling Concept
3The "gambling edge" is the built-in advantage that casinos have in any game. It’s usually shown as a percentage. For example, if a game has a 5% edge, the casino expects to keep $5 out of every $100 you bet. This means the higher the edge, the more you’re likely to lose over time, making it harder for you to win in the long run.
Re: Gambling Concept
4Let's say you're playing a game like roulette. In American roulette, there are 38 pockets on the wheel, including 0 and 00. If you bet on a single number and win, the payout is 35 to 1. However, the odds of winning are actually 37 to 1, because there are 37 losing numbers and only one winning number.dragon64248s wrote: Thu May 09, 2024 1:48 am Can you explain the concept of "gambling edge" and how it affects my overall profitability?