The statistics work in favor of the casino in the long-run. If these rules are applied over many, many rounds (sometimes even hundreds of thousands of times), casino owners can be quite certain that the sum of bets collected will exceed the total amount of wins payed out. The advantage of the casino is determined by the rules of each game and by the payout rules in the case of winning. This advantage is also known as a house edge. Otherwise, the owners of the casino would be losing money on them. Most of you probably know that these games are somehow set to give casinos a certain advantage in the long-run. The most famous of such games are slot machines, roulette, blackjack and baccarat, but there are many others. In other words, all games where a casino collects bets and pays out potential winnings.
Principles described in this article can be applied to almost any game of chance in which a player plays against the house.
