ybot
ybot
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January 16th, 2020 at 12:51:52 PM permalink
Hi, how do you calculate it?
In which situations you may or not play more than house edge?
DogHand
DogHand
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January 16th, 2020 at 1:36:50 PM permalink
Quote: ybot

Hi, how do you calculate it?
In which situations you may or not play more than house edge?



ybot,

The casino calculates the "hold" on a given table by dividing the amount of money won from the players by the players' total buy-in.

For example, say you buy $100 worth of chips on a BJ table. You play for awhile, and eventually leave with only $25. If that's the only action on that table, the hold would be ($100 - $25)/$100 = 0.75, or 75%.

Hope this helps!

Dog Hand
ybot
ybot
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January 16th, 2020 at 1:46:05 PM permalink
Hello Dog Hand, thanks for your answer
Why do Casino reports say that their average hold percentage is 11% while their edge over the player is 2.7% 5.4% or any other lower than 11%?
Does it mean they earn more than house edge?

Ybot
BleedingChipsSlowly
BleedingChipsSlowly
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January 16th, 2020 at 1:54:16 PM permalink
The edge is calculated for best play. For example, a blackjack player using “best strategy” decisions. Most players do not play that well, which increases the house hold. Also, players will lose their entire bankroll and must stop play at a loss when they are unlucky. The casinos have deeper pockets.
“You don’t bring a bone saw to a negotiation.” - Robert Jordan, former U.S. ambassador to Saudi Arabia
ybot
ybot
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January 16th, 2020 at 1:58:56 PM permalink
In BJ you can play best strategy but in other games it is pure luck. No matter what you do you have equal disadvantage.
unJon
unJon
Joined: Jul 1, 2018
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Thanks for this post from:
MrCasinoGames
January 16th, 2020 at 2:02:33 PM permalink
Quote: ybot

In BJ you can play best strategy but in other games it is pure luck. No matter what you do you have equal disadvantage.



If keep playing your money through a house edge of 2.5% multiple times, the hold will grow to a number much larger than 2.5%.
The race is not always to the swift, nor the battle to the strong; but that is the way to bet.
rsactuary
rsactuary
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January 16th, 2020 at 2:04:29 PM permalink
Quote: ybot

Hello Dog Hand, thanks for your answer
Why do Casino reports say that their average hold percentage is 11% while their edge over the player is 2.7% 5.4% or any other lower than 11%?
Does it mean they earn more than house edge?

Ybot



Because people keep gambling and "recycling" the money until they have none left.

If I sit at a BJ table with $100 and play until it's gone... the hold is 100%, but that doesn't change the house edge of 2.7%.
ybot
ybot
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January 16th, 2020 at 2:04:32 PM permalink
Quote: unJon

If keep playing your money through a house edge of 2.5% multiple times, the hold will grow to a number much larger than 2.5%.


Why, how do you calculate it?
unJon
unJon
Joined: Jul 1, 2018
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January 16th, 2020 at 2:06:17 PM permalink
Quote: ybot

Why, how do you calculate it?



One minus the amount of chips cashed out of a table divided by the amount of chips bought from table.
The race is not always to the swift, nor the battle to the strong; but that is the way to bet.
DogHand
DogHand
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January 16th, 2020 at 2:07:47 PM permalink
Quote: ybot

Hello Dog Hand, thanks for your answer
Why do Casino reports say that their average hold percentage is 11% while their edge over the player is 2.7% 5.4% or any other lower than 11%?
Ybot



ybot,

Typically, the hold exceeds the house edge because the players reinvest their "winnings".

Let's switch to Baccarat, and pretend that you play your chips in a very odd fashion: you buy in for $500, and receive 20 green chips, which you place in a stack by your right hand. On each round, you take one green $25 chip from your right-hand stack and play it on Player. If you win that round, you place the two greens (your bet plus your winnings) in a stack by your left hand; if you Tie, you place the one green in your left-hand stack. You continue in this fashion until your right-hand stack is empty, which will naturally take exactly 20 rounds, at which point you take your left-hand stack and leave.

If you (and every other player at the table) played exactly like this, over the long run that table's hold would be exactly equal to the house edge on Player: 1.24% (for an 8D game).

However, nobody plays like that! Instead, the player keeps his chips in one pile, and continues playing until he leaves. Thus, on average each chip is wagered more than once, but each time, on average, the player loses an amount equal to the house edge.

I hope this clarifies the situation for you!

Dog Hand

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