The House Always Wins
Source: AS Inc
And now, it’s winning billions more every year.
In 2013, the gambling industry raked in$119 billion in the United States. In 2003 it was only about $27 billion, and ten years before that it was only about $11 billion.
But I bet the casinos never told you that. The house is changing the odds, and the payouts on table games are limiting the amount someone on a winning streak can get. The casino will always win in the long run, no matter how smart or lucky you are at gambling.
Blackjack used to have a 3-to-2 payout (for every $20 you bet you would get $30), but now most casinos are paying 6-to-5 which cut down that payout by 20% and stacking multiple decks in a sleeve to make it harder for gamblers keep track of their odds.
They say it’s to help fight counting cards, but it’s also a way to put the odds more in their favor. Some casinos won’t let the dealer hold on “soft 17” (which involves their 17-point hand with an ace) and force the dealer to continue their hand to increase their odds of winning by 0.2%. It may not seem like much, but when they’re making $20 billion, you do the math.
Look at the placards at the table to see the game’s payouts. If they don’t show it, ask the dealer and if it’s 6-to-5, don’t play.