Odds and Payouts – The Most Popular Casino Games
When it comes to gambling, the more educated you are, the higher your chances are of winning. Contrary to the popular belief that luck makes or breaks your experience at a casino, you can help your chances of winning by:
- Employing strategies and tactics to table games
- Entirely understanding the rules of each game you play
- Managing your bankroll wisely
- Understanding the odds and payouts of each game
We are going to focus on the last point:
Understanding the odds and payouts of each game
This is important because opting to play the games that offer the best odds and payouts will help you stretch your dollar as much as you can.
What are odds and payouts?
Before we cover the odds and payouts of the most popular casino games, we’re going to briefly explain what odds and payouts actually mean.
Odds: Every time you gamble, you are hoping that the odds will be in your favor. Gambling is not 100% based on luck. It is also based on odds and whether or not you beat them. While you can’t do anything to change the odds, you can still educate yourself on what odds are and how you can use them to pick a game or a certain bet to maximize your chances of winning. So what are odds, exactly? Your odds are your likelihood of winning a bet. Let’s say you are at a roulette table and you bet on a single number. Your odds are 1 to 37 because the roulette wheel has 37 numbers (1-36 plus a single zero), and those are the chances that the ball will land on the number you chose against the chances of it landing on one of the other numbers in the wheel.
Payouts: Let’s say you beat the odds. You get a payout. What are payouts exactly? They’re basically the money you get when you win a bet. Each game has its own set of payout odds. Your winnings are not directly proportional to your odds of winning. For example, if you plunk down $5 on a number at the European roulette table, and the odds are 1 to 37, you won’t get 37 times your $5 bet ($185). Instead, you will get a payout that is slightly under $185. It is because of the house edge. In most cases, a casino game does not offer a flat payout rate. It depends on the type of bet you make, as each bet comes with its own set of odds.
What is the house edge?
The house edge is how casinos make money. The casino (or “the house”) takes a small percentage of each bet you make. Let’s say you are playing poker at a casino. The house edge is the small blind every round. Many seasoned gamblers suggest only placing bets with a house edge of 1.5% or less and the best winning and payout odds.
This explains why payouts are more complicated than we think.
Now that we have a better understanding of what odds and payouts are, let’s talk about the odds and payouts of the following popular casino games:
Roulette
There are two different types of roulette games: American roulette and European roulette. Both versions are generally the same except that American roulette has two green color slots (one with one zero, and the other with two zeroes), while European roulette has only one green color slot with one zero.
American roulette: When you compare American roulette to European roulette, the odds are kind of worse. It is because that extra green color slot allows the house to earn more profit. Generally, the house edge is the same for almost every bet you can make, and that house edge is 5.26% (which is nearly twice as much as that of European roulette).
The odds and payouts, however, vary between bets. Let’s cover a few of the most common bets:
Odd, even, black, red, 1-18, 19-36: 46.37% chance of winning; 1:1 payout
1-12, 13-24, 25-36: 31.48% chance of winning; 2:1 payout
Single number: 2.63% chance of winning; 35:1 payout
Combination of two numbers: 5.26% chance of winning; 17:1 payout
Combination of three numbers: 7.89% chance of winning; 11:1 payout
Combination of four numbers: 10.53% chance of winning; 8:1 payout
Combination of six numbers: 15.79% chance of winning; 5:1 payout
Combination of 1-2-3-0-00: 13.16% chance of winning; 6:1 payout
European roulette: The house edge for European roulette is 2.7%. Here are the odds and payouts of each type of bet:
Odd, even, black, red, 1-18, 19-36: 48.6% chance of winning; 1:1 payout
1-12, 13-24, 25-36: 32.4% chance of winning; 2:1 payout
Single number: 2.7% chance of winning; 35:1 payout
Combination of two numbers: 5.4% chance of winning; 17:1 payout
Combination of three numbers: 8.1% chance of winning; 11:1 payout
Combination of four numbers: 10.8% chance of winning; 8:1 payout
Combination of six numbers: 16.2% chance of winning; 5:1 payout
Three Card Poker
There are many different kinds of poker games. Let’s cover the house edge, odds, and payouts of one of the most popular poker games: Three Card Poker:
The house edge is 7.28% for the pair plus bet and 3.37% for ante & play. Here are the odds and payouts for each hand:
PAIR PLUS
Straight flush: .22% chance of winning: 40:1 payout
Three of a kind: .24% chance of winning: 30:1 payout
Straight: 3.26% of winning; 6:1 payout
Flush: 4.96% of winning; 4:1 payout
Pair: 16.94% of winning; 1:1 payout
ANTE & PLAY
Straight flush: .22% chance of winning: 5:1 payout
Three of a kind: .24% chance of winning: 4:1 payout
Straighr: 3.26% of winning; 1:1 payout
Blackjack
Blackjack offers one of the lowest house edges you could find at a casino. The house edge of a standard blackjack game is only .28%. Generally, the payout at a blackjack table is 3:2 (or $3 for every $2 bet). Here are general probabilities at a blackjack table:
The casino dealer has a 28% chance of losing, and a 53% chance of winning. The player has a 28% chance of losing, and a 47% chance of winning. Let’s take a look at each face card the dealer has and the odds for each one:
Five: 42% chance of going bust / up to 58% chance of winning
Six: 42% chance of going bust / up to 58% chance of winning
Seven: 26% chance of going bust / up to 74% chance of winning
Ten: 23% chance of going bust / up to 77% chance of winning
Ace: 17% chance of going bust / up to 83% chance of winning
Craps
The house edge varies wildly in craps. It all depends on the kind of bet you make. The lowest is 0%, and you can get that if you bet on odds (4 or 10, 5 or 9, and 6 or 8 only). The highest is 16.67%, courtesy of the “any seven” bet. Here is a comprehensive guide to the odds and payouts of each type of bet you can make at the craps table:
Pass line/come bet: Odds: 251 to 244 Payout: 1:1
Don’t pass/don’t come bet: Odds: 976 to 949 Payout: 1:1
Numbers 4 or 10 (pass line/come bet): Odds: 2 to 1 Payout: 2:1
Numbers 5 or 9 (pass line/come bet): Odds: 3 to 2 Payout: 3:2
Numbers 6 or 8 (pass line/come bet): Odds: 6 to 5 Payout: 6:5
Numbers 4 or 10 (don’t pass line/don’t come bet): Odds: 1 to 2 Payout: 1:2
Numbers 5 or 9 (don’t pass line/don’t come bet): Odds: 2 to 3 Payout: 2:3
Numbers 6 or 8 (don’t pass line/don’t come bet): Odds: 5 to 6 Payout: 5:6
Field bets (3, 4, 9, 10, 11): Payout: 1:1
Field bets (2 or 12): Payout: 2:1
Numbers 4 or 10 (place bet): Odds: 2 to 1 Payout: 9:5
Numbers 5 or 9 (place bet): Odds: 3 to 2 Payout: 7:5
Numbers 6 or 8 (place bet): Odds: 6 to 5 Payout: 7:6
One roll (any 7): Odds: 5 to 1 Payout: 4:1
One roll (any craps): Odds: 8 to 1 Payout: 7:1
One roll (2 craps or 12 craps): Odds: 35 to 1 Payout: 30:1
One roll (3 craps or 11): Odds: 17 to 1 Payout: 15:1
Baccarat
Baccarat offers three different house edges: 1.06% for the banker’s hand, 1.24% for the player’s hand, and a whooping 14.36% for a tie (or called a “sucker bet”). We strongly advise against placing a sucker bet for obvious reasons. Let’s take a look at the odds and payouts of each hand:
The banker’s bet:
EIGHT DECK: 45.85% chance of the banker winning and a 95% payout; 44.62% chance of the player winning, and a -100% payout
SIX DECK: 45.85% chance of the banker winning and a 95% payout; 44.62% chance of the player winning, and a -100% payout
The player’s bet:
EIGHT DECK: 45.85% chance of the banker winning and a -100% payout; 44.62% chance of the player winning, and a 100% payout
SIX DECK: 45.85% chance of the banker winning and a -100% payout; 44.62% chance of the player winning, and a 100% payout
Slot Machines
The house edge for slot machines varies wildly. It all depends on the kind of game you are playing and the kind of bet you place. It can range between 2% and 15%. Also, since slots run on Random Number Generators, the game is truly random and it is difficult to determine your odds of winning. However, you can calculate your odds of winning the jackpot by looking at the number of reels a slot machine has and the number of stops per reel.
For example, if a slot machine has 5 reels and 64 stops per reel, and each reel has one jackpot image, your odds of landing on the jackpot image on one reel is 1:64. However, you have to hit the jackpot image on every reel, so that means your chance of winning the jackpot is 64^5, or 1 to 6,400,000.
If you want to increase your chances of winning at slots, look for the machines with the fewest reels and the fewest stops per reel.
The payout rate of a slot machine depends on the state where the machine is located. Minimum legal payouts can range between 75% (in Nevada) to 83% (in New Jersey). However, most slot machines have a payout of between 96% and 98%.
The Canadian Lottery
There are two different national lottery games in Canada: Lotto 6/49 and Lotto Max. Let’s talk about the odds and payouts of each game.
Lotto 6/49: You have a 1 in 6.6 chance of winning any prize in one play. Here is a more comprehensive list of all the odds and prizes you could win in this game:
6/6 (jackpot): 1 in 13,983,816 / Jackpot win or a share of 79.5% of the pool’s fund
5/6 plus bonus: 1 in 2,330,636 / A share of 6% of the pool’s fund
5/6: 1 in 55,492 / A share of 5% of the pool’s fund
4/6: 1 in 1,033 / A share of 9.5% of the pool’s fund
3/6: 1 in 56.7 / $10
2/6 plus bonus: 1 in 81.2 / $5
2/6: 1 in 8.3 / A free lottery ticket
Lotto Max: Here are the probabilities and prizes for this lottery game:
7/7 (jackpot): 1 in 28,633,528 / Jackpot win or a share of 87% of the pool’s fund
6/7 plus bonus: 1 in 4,090,506.5 / A share of 4% of the pool’s fund
6/7: 1 in 99,768.7 / A share of 4% of the pool’s fund
5/7: 1 in 1,583.96 / A share of 5% of the pool’s fund
4/7: 1 in 71.60 / $20
3/7 plus bonus: 1 in 77.08 / $20
3/7: 1 in 8.421 / A free lottery ticket
