Going out to the casino has become a standard form of entertainment over the last few years. It's fun, exciting, and the casinos make a good place to join with your friends for games and a meal. But have you considered how you are spending your entertainment dollar? If you are heading to the casino you should know what those games are going to cost!Your Bankroll
Casino players sometimes forget to think about money management, they just look in their purse or wallet and figure they will spend the cash they have. That's good and bad. At least they aren't dipping into their savings or using their credit cards, but as exciting as the thought of winning is, gambling is really just entertainment. Unless you are counting cards at blackjack or playing poker at a very successful rate, you can expect to pay dearly for your hours in the casino.
If you can go to a movie with friend and spend a total of $40 you are probably doing pretty well for a movie and some refreshments. Unfortunately, it's pretty tough for two people to play in a casino for two hours and spend just $40. Yes, you have a chance of winning, but if you ever return to a casino after a winning session, then you are just spending your money on gambling entertainment. Do you know how much that entertainment is costing you?The Cost of Different Forms of Entertainment
The cost of your gambling is a function not only of time and your average bet, but also your ability. And, any small sample is just that: a sample. Your average loss (or win) will even out after more and more plays. You could sit down at a no-limit Texas Hold'em table and get pocket aces cracked on the first hand and lose your whole buy-in in two minutes, but after you see that hand 100 times you'll know just what they are worth on average!
However, the figures that follow are based on the average casino advantage and an average bet for differing games. Consider your enjoyment of each when you gamble, but also consider what each costs to play!
Based on a $10 average bet for table games, the following list shows the cost of playing these games:Blackjack
- Average player - cost per hour: $15
- Basic Strategy player - cost per hour: $6
- Single Zero Wheel - cost per hour: $7
- Double Zero Wheel - cost per hour: 14
- Pass line and odds only - cost per hour: $4
- Pass line and odds, place bets $50 in action - cost per hour: $11
- Average player with multiple bets $75 in action - cost per hour: $20
- Playing only Player or Banker - cost per hour: $8
- Playing Player, Banker and Tie - cost per hour: $14
- Ante and Play only - cost per hour: $20
- Pair Plus only - cost per hour: $22
- Ante, Play and Pair Plus - cost per hour: $42
- Standard Three Bets - cost per hour: $11
- Three bets and 3-card bonus - cost per hour: $29
- Three bets and 3-card bonus and side bet - cost per hour: $36
- Regular bet on player's hand - cost per hour: $6
- Regular bet on player's hand and Fortune Bonus bet - cost per hour: $12
- Standard 5-coin nickle 92% pay back - cost per hour: $7
- Triple play nickles - cost per hour: $22
- Standard 5-coin quarters 92% pay back - cost per hour: $36
- Triple play nickles - cost per hour: $108
There are hundreds of different slots out there now, but you can make an estimate of the cost to you by multiplying your average bet times the number of spins per hour. If you spin 200 plays per hour and have an average bet of 50 cents, that equals $100 in action. Most machines pay back between 90 and 95 percent. At 90 percent your play costs $10 per hour.
If you are playing a penny machine, but betting 10 credits and 40 lines, you are playing $4 per spin. At 200 spins per hour, your action is $800 per hour. At 95 percent pay back your play costs $40 an hour. Yes, even penny machines are expensive.Keno
The average Keno slot and live Keno run with a house edge of about 28 percent. If you play 20 games an hour of live Keno for $2 per ticket, expect your cost to be $11 per hour.
For video poker expect to get a lot more plays per hour, perhaps 120. If you play 4-coin, nickle Keno, your cost will be $7 per hour. Quarter play will cost you $35 per hour!
No list of odds and expectations will be perfect for each player, and at gambling you can expect there to be streaks where you will win often, and even more streaks where you will lose. Use some simple money management tips to protect your bankroll.