The house edge is the house advantage. This is the percentage that the casino makes from your bets. The longer you play at the casino, the more you will lose. The casino will reward you with comps, which are bonuses for being a “good player.” These incentives may range from free drinks and a free room to a nice suite with a view of the Vegas Strip. However, it’s important to remember that the more you spend, the higher your house edge will be.
The statistics show that casinos have an inherent statistical advantage. In 1989, only 24% of Americans had attended college, but in 2008, the figure was 38%. Of those people who attended college, only 10% had a master’s degree. Nearly half had not. This statistic has changed significantly over the years. Even the average number of adults has dropped. These numbers may seem high, but they don’t represent the majority of Americans. The majority of people in a casino have at least some college education, so it’s a good sign.
Today, the casino industry uses technology to ensure fairness and integrity. Video cameras and computers monitor games. Some of these systems use microcircuitry in betting chips to track bets minute by minute. Roulette wheels are monitored to detect statistical deviations. Enclosed versions of these games don’t need dealers and are played with buttons. Despite the fact that casinos often make a profit, this doesn’t mean that they’re inefficient.