Why the luckiest online casino winners are few and far between.
Do you consider yourself to be a winner at casino games? Have you won more money than you’ve lost? If you lose $50 on three consecutive trips, then win $100 on the fourth trip, you may feel like a winner, but you’re not. Despite that grand feeling coursing through your veins as you strut your way to the cashier, you’ve actually lost $50.
This is the reality for most gamblers. Players who think they are winners are actually losers. So few bother to calculate in all the money they lose. They only remember the winning runs.
When was the last time your friend said, “Hey, I went to the casino and lost fifty bucks!” They never say that, but who wouldn’t be quick to brag following a $100 win?
This is just one reason that casinos always win in the end. But what about those players who win massive amounts of money?
Luckiest Online Casino Winners are a Rare Breed
A lot of people have struck mega-sized progressive jackpots worth millions of dollars. The headlines tell of such winners at least once a week at online casinos. Odds are, they didn’t lose any millions prior to winning that colossal prize, nor are they likely to lose millions more after the fact. Most will take the cash and run, living a very comfortable life thereafter.
Are these the players that break the casino? Not really. The fact is, all those players who didn’t win—all the ones matching the description above, losing more than they win—they are the ones who paid that new multi-millionaire’s prize. Casinos really do have that many losers.
It’s not because most players are unlucky, either. It’s because casinos are designed that way. They are programmed to take you money. And the way they do it sneakier than a lot of people realize.
Games are Random, but Payouts are Fixed
A hand of blackjack is random. One deal, you might get 21, another 12, and another 15. How you handle those last two will determine if you bust, but the dealer can always come back to beat you no matter what… because it’s random. Your odds of winning, however, are not.
Blackjack odds are about as close to 50/50 as you’ll get in any casinos. But they aren’t quite 50/50. Even with perfect strategy on every play, you’ll get about 49.75/50.25, in favor of the house.
Slot machines are the most random game of all. The result of every spin is truly randomized by a computer chip that’s actually known as a ‘random number generator‘ (RNG). No one knows—not even the casino or manufacturer—what the next spin will produce.
And yet, both the casino and manufacturer know what the odds are, because there’s nothing random about that. The odds are fixed. The average RTP for online slot machines is 96%, which shifts the advantage to about 48/52, favoring the casino.
Fixed Odds Mean Casinos Always Win
The best way to explain how fixed odds works is to look at every possible wager as a flip of a coin. With every flip of a coin, the results are random. It could be heads, or it could be tails. There’s no advantage for either side.
Let’s say you want to bet $1 that the coin will flip onto heads. What if I tell you that, if you’re right, I’ll give you $0.96, and if you’re wrong, I keep your $1?
You’d probably say, “Hey, wait a minute, that’s not fair!” You’re right. It’s not fair. It’s fixed odds. And, it’s what casinos get away with every day. Land-based casinos are even worse, offering as little as $0.80 or $0.85 for your winning coin flip.
This is the majority reason why the luckiest online casino winners—the ones who actually win more than they lose—are so few and far between. It’s why casinos never really lose, no matter how lucky their players get.
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Adalene Lucas: is our jack of all trades here at DBC. She is a skilled coder, gambler, writer and webmaster. She lives in Manitoba where she enjoys the lush landscapes and camping near Tulabi Falls. Nature gives her inspiration to write. When she's not immersed in nature, her favorite words are "game theory". She lives with her husband and their two Labradors, Kophy and Whisper.