House Edge

gambling-602976_1280Did you know that it takes on average $330,000 to win the $10,000 prize on the pokies? This translates to odds of over 9 million to one. In case you’re wondering, the chances of getting hit by a bolt of lightning are 1.6 million to one. So, next time you’re playing the pokies hoping you might win big, remember that you have a better chance of getting hit by a bolt of lightning.

You mightn’t be surprised to hear that gambling games are designed to favour the house. Some games like the pokies, have a massive house edge. Other games like roulette, have a relatively modest house edge. But the fact is that even a slight house edge translates to massive losses for regular gamblers over time.

Unfortunately, for many people with gambling problems, simply knowing about house edge does not stop them from gambling. If you think you may have a problem with gambling, help is available. A gambling counsellor can be found by calling Gambling Help on 1800 858 858. Free individual sessions are available to anybody who might be concerned their gambling has gotten out of hand.

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