People often have differing opinions on the worst bets in the casino. But slots is definitely a game that comes up in these conversations because the house edge is often 5% or higher. Furthermore, many players get angry when their money disappears quickly on slot machines. But does perception meet reality when tagging slots as one of the worst casino bets? Absolutely not, and we’ll explain why this label is one of the biggest casino gaming myths out there.
There are Worse House Edges
The first thing worth pointing out here is that there are casino games/bet with worst house edges. For example, American roulette carries a 5.26% house advantage, which is slightly worse than what you’ll normally see in online slots. Keno is way, way worse than this because its edge can angle anywhere from 10% to 40%.
Certain games with skill elements can also treat players far worse over the long term. A terrible blackjack player could be facing over a 10% house edge. A really bad Texas Hold’em player might bleed out their whole bankroll within an hour because there is no casino edge – only player vs. player with rake taken out.
Sucker bets can also put a major dent in players’ bankrolls. For example, Any 7 in craps carries a massive 16.67% house advantage. The tie bet in baccarat is also pretty lethal with its 14.44% house edge.
Slots Variance is High
Even a slots game with 95% payback can seem like it is impossible to beat. That’s because slots contains a lot of variance, meaning one player’s results will vary wildly from another’s. With jackpots being much larger than other payouts, those who win the jackpot might far exceed normal payback. However, everybody who doesn’t win the top prize might only be earning back 50% to 80% of their bets.
But does this mean slots is really one of the worst casino bets? Maybe in the short term for somebody with a small bankroll. However, many long-time players will fare better than they would with other games/bets.