A casino never runs out of stuff to do or games to play. Every day new games are released and casinos must know the house edge and variance of each game. These mathematical formulas determine how much the casino can expect to profit and keep in cash reserves. Casinos employ computer programmers and mathematicians to perform this work. Since few casinos have in-house expertise in these areas, they outsource this work to experts. But, what should you know before you go to a casino?

The house edge is the difference between the true odds of a game and what the casino pays out. This advantage varies widely, but is usually expressed as a percentage. The lower the percentage, the lower the casino’s advantage. The higher the percentage, the more money the casino makes. While there are exceptions to this rule, the average casino advantage ranges from 0.05% to 2%. This means that if you play blackjack at a casino with a small house edge, you’ll have a small advantage.

Many casinos have developed formulas for determining the “predicted lifetime value” of each gambler. Depending on the amount of money they stake and the length of time they stay, a casino will assign a value ranking to each individual gambler. If you’re a high roller, you’ll likely be rewarded with free drinks and free cigarettes. If you’re a high roller, don’t be shy to talk about your high roller status. Casinos are always on the lookout for high rollers, so make sure you’re a frequent visitor!