Many people will be visiting a casino this summer, whether on a trip to Vegas, on a cruise ship, or just at a local casino during a 'staycation.'
But before you go, you may want to know which games give you the best chance of winning.
Discover the Best Payout Casinos in 2020 - Our ultimate guide to online casinos that offer higher payouts to players, or games that offer favorable odds. For instance, Atlantic City Blackjack by Microgaming is played with eight decks with the standard rules and its house edge is 0.46%. In this case, the RTP is 99.64% which means that in theory if you place a $100 bet, the expected return is $99.64. However, in reality this is not the case since the RTP percentage applies to everyone.
- In other words, the player starts at a disadvantage of -0.5%. In fact, 90% of the traditional blackjack games in U.S. Casinos have a house advantage between -0.4% and -0.6% off the top of the deck. Editor's note: This has been changing in recent years, since the introduction of substandard payouts on naturals and the spread of such games.
- The win rate per playing session can approach and is usually quite near 60% for a very proficient player. The win rate in terms of hands won is 44% for the most professional of players. Its interesting to note that even an advnatage blackjack player never wins more hands than he loses, the edge comes from getting payed 3:2, and being able to.
- Tie Rate = 9.5%. Loss Rate = 49.1%. Our win rate is far lower than the loss rate of the game. It would have been much better if we just tossed a coin. The biggest difference is that the dealer wins if both the player and the dealer gets burst. If you remove that single condition, here are the win/loss rate. Win Rate = 41.4%.
So we went behind the scene at two casinos, and spoke with the game managers, to find out which games give you an edge.
Table Games Your Best Bet
Jay Bean, a Caesar's floor manager, agreed to sit down with us and talk about the games with the best odds.
He said many people don't realize that table games have much better odds than slots. They are intimidated by thoughts of card sharks taking their money, with images of an intense Texas Hold 'Em tournament in their minds, and so they stick with the safe games: the slots.
But they are doing themselves a disservice, he said.
Bean's advice? After you've spent some time on the slot machines, move on to the Blackjack table, and start by just observing.
1. Blackjack
Blackjack has the best odds of winning, with a house edge of just 1 percent in most casinos, Bean said.
Plus, you are playing against only the dealer, not hooded poker champions.
'Blackjack is one of our easiest games to play,' Bean said. 'You're just looking for a number that beats the dealer's number without going over 21.'
If you're a novice, Bean said to sit down during a less busy time, such as the afternoon, and the dealer will walk you through the game.
But the same is not true with poker: You should practice the game with your friends first, at home, Bean said, until you are comfortable with it. Bean said novices are best off passing on the poker tables, where yes, the competition can be tough.
You can find out more information about the game of blackjack at the following link:
http://wizardofodds.com/games/blackjack/
2. Craps
So from the Blackjack table, he suggests moving on to the dice game Craps, the game with the second best odds, also nearly 50-50.
The Craps table can be a bit intimidating for the beginner with all the boxes on the table, Bean admitted. But it's really not tough, and it has one of your best chances of winning. In the end, all you are really doing is betting on a dice roll.
For more information on craps, visit:
http://wizardofodds.com/games/craps/
Blackjack Average Win Rate Today
3. Roulette
Bean said your next stop should be the Roulette wheel. It's simple, and pays fairly well.
'So you bet on your favorite numbers,' Bean said. 'The dealer spins, and if your number comes in you win.'
If you stick to betting on just Reds or Blacks, you have nearly a 50-50 chance of walking away a winner. If it lands on red when you choose red, you will double your bet, Bean explained.
While it may seem you have an even chance of winning by simply choosing a color, there is one catch that gives the house its edge: the extra green 0 and 00 position on the wheel. It's on all American roulette wheels.
Or, if you feel lucky, play just one number. It's hard to win, but if you do it pays out 36 to 1.
For more information on roulette, visit:
http://wizardofodds.com/games/roulette/
Worst Odds
Your worst odds? The casinos, understandably, did not want to talk about games with poor odds.
Blackjack Average Win Rates
So we turned to Forbes Magazine, which in a report about Best Bets at the Casino, said two popular games -- the Wheel of Fortune and the ever-popular slot machines -- have the lowest odds of winning, with a house edge of 10 percent or more.
The Experts Agree
Professor of Analytics Michael Magazine has crunched the numbers, and agreed that blackjack is the best way to go home with money in your pockets. He said if you take a little time to learn the game, you have the best odds of winning.
'You are somewhere between 44 percent to 48 percent in every single hand of winning,' he said, noting that no other casino game gives you odds that good.
But Magazine cautioned that he's not promoting gambling, because he said even games with the best odds still favor the house.
'Play it long enough and you will lose. In the long term the house doesn't lose,' Magazine said.
If You Love The Slots....
Finally, if you really enjoy playing the slots, here is some good information to know, from state casino reports we examined.
With slots, the more money you put in per bet, the higher your chance of winning. If you put the max in a penny machine, which is usually around 50 cents, you have much better odds than if you put in 2 cents.
In addition, penny slots have the lowest odds, with $1 and $5 slots paying much better.
Always gamble responsibly, and don't waste your money.
__________________________
You can learn more about specific odds of slots machines in each state that has casino gambling by visiting the American Casino Guide.
Don't Waste Your Money is a registered trademark of the EW Scripps Co.
'Like' John Matarese on Facebook
Follow John on Twitter (@DWYM)
Looking at sales benchmark rates provides you with valuable context that can teach you a lot about your sales process.
For example, let's say your sales reps close ten new deals this month. Is that a number worth celebrating?
The answer depends on a number of factors, like how many opportunities you had open at the start of the month, your sales quota, and how your close rate compares to that of your competitors.
Sales benchmark rates give you an informed basis for creating your own quotas and goals. Of course, you should think of sales benchmarks as data to guide your decisions, rather than absolute truths to live by.
Blackjack Average Win Rate Calculator
That said, without looking at sales benchmark rates across the industry as well as tracking your team's internal results over time, the majority of sales metrics are pretty meaningless.
So, today we're going to share 8 valuable sales benchmarks rates and show you where you can find each statistic in Propeller.
8 of the Most Important Sales Benchmark Rates You Need to Know
1. Average Win Rate
Your average win rate is the percentage of opportunities your team wins over a given period. However, it's purely based on opportunities that have already reached the proposal stage, rather than every single opportunity in your pipeline.
So, what's a decent win rate for deals that have received proposals? A survey conducted by the RAIN Group Center for Sales Research found respondents had an average win rate of 47%. The survey involved 472 companies with sales team that range from ten reps to over 5000 reps.
2. Average Close Rate
Average close rate measures how many opportunities closed during a given period compared to how many new opportunities were created during that same time frame.
The average close rate across all industries sits around 19% - which is interesting but not quite as useful as specific data about your industry. To find out how your sales team stacks up against other companies in your industry, use HubSpot's handy tool to compare your own close rate against competitors.
For tips on how to close sales more effectively, check out our advice on closing like a boss.
3. SQL-to-Customer Conversions
Jay Bean, a Caesar's floor manager, agreed to sit down with us and talk about the games with the best odds.
He said many people don't realize that table games have much better odds than slots. They are intimidated by thoughts of card sharks taking their money, with images of an intense Texas Hold 'Em tournament in their minds, and so they stick with the safe games: the slots.
But they are doing themselves a disservice, he said.
Bean's advice? After you've spent some time on the slot machines, move on to the Blackjack table, and start by just observing.
1. Blackjack
Blackjack has the best odds of winning, with a house edge of just 1 percent in most casinos, Bean said.
Plus, you are playing against only the dealer, not hooded poker champions.
'Blackjack is one of our easiest games to play,' Bean said. 'You're just looking for a number that beats the dealer's number without going over 21.'
If you're a novice, Bean said to sit down during a less busy time, such as the afternoon, and the dealer will walk you through the game.
But the same is not true with poker: You should practice the game with your friends first, at home, Bean said, until you are comfortable with it. Bean said novices are best off passing on the poker tables, where yes, the competition can be tough.
You can find out more information about the game of blackjack at the following link:
http://wizardofodds.com/games/blackjack/
2. Craps
So from the Blackjack table, he suggests moving on to the dice game Craps, the game with the second best odds, also nearly 50-50.
The Craps table can be a bit intimidating for the beginner with all the boxes on the table, Bean admitted. But it's really not tough, and it has one of your best chances of winning. In the end, all you are really doing is betting on a dice roll.
For more information on craps, visit:
http://wizardofodds.com/games/craps/
Blackjack Average Win Rate Today
3. Roulette
Bean said your next stop should be the Roulette wheel. It's simple, and pays fairly well.
'So you bet on your favorite numbers,' Bean said. 'The dealer spins, and if your number comes in you win.'
If you stick to betting on just Reds or Blacks, you have nearly a 50-50 chance of walking away a winner. If it lands on red when you choose red, you will double your bet, Bean explained.
While it may seem you have an even chance of winning by simply choosing a color, there is one catch that gives the house its edge: the extra green 0 and 00 position on the wheel. It's on all American roulette wheels.
Or, if you feel lucky, play just one number. It's hard to win, but if you do it pays out 36 to 1.
For more information on roulette, visit:
http://wizardofodds.com/games/roulette/
Worst Odds
Your worst odds? The casinos, understandably, did not want to talk about games with poor odds.
Blackjack Average Win Rates
So we turned to Forbes Magazine, which in a report about Best Bets at the Casino, said two popular games -- the Wheel of Fortune and the ever-popular slot machines -- have the lowest odds of winning, with a house edge of 10 percent or more.
The Experts Agree
Professor of Analytics Michael Magazine has crunched the numbers, and agreed that blackjack is the best way to go home with money in your pockets. He said if you take a little time to learn the game, you have the best odds of winning.
'You are somewhere between 44 percent to 48 percent in every single hand of winning,' he said, noting that no other casino game gives you odds that good.
But Magazine cautioned that he's not promoting gambling, because he said even games with the best odds still favor the house.
'Play it long enough and you will lose. In the long term the house doesn't lose,' Magazine said.
If You Love The Slots....
Finally, if you really enjoy playing the slots, here is some good information to know, from state casino reports we examined.
With slots, the more money you put in per bet, the higher your chance of winning. If you put the max in a penny machine, which is usually around 50 cents, you have much better odds than if you put in 2 cents.
In addition, penny slots have the lowest odds, with $1 and $5 slots paying much better.
Always gamble responsibly, and don't waste your money.
__________________________
You can learn more about specific odds of slots machines in each state that has casino gambling by visiting the American Casino Guide.
Don't Waste Your Money is a registered trademark of the EW Scripps Co.
'Like' John Matarese on Facebook
Follow John on Twitter (@DWYM)
Looking at sales benchmark rates provides you with valuable context that can teach you a lot about your sales process.
For example, let's say your sales reps close ten new deals this month. Is that a number worth celebrating?
The answer depends on a number of factors, like how many opportunities you had open at the start of the month, your sales quota, and how your close rate compares to that of your competitors.
Sales benchmark rates give you an informed basis for creating your own quotas and goals. Of course, you should think of sales benchmarks as data to guide your decisions, rather than absolute truths to live by.
Blackjack Average Win Rate Calculator
That said, without looking at sales benchmark rates across the industry as well as tracking your team's internal results over time, the majority of sales metrics are pretty meaningless.
So, today we're going to share 8 valuable sales benchmarks rates and show you where you can find each statistic in Propeller.
8 of the Most Important Sales Benchmark Rates You Need to Know
1. Average Win Rate
Your average win rate is the percentage of opportunities your team wins over a given period. However, it's purely based on opportunities that have already reached the proposal stage, rather than every single opportunity in your pipeline.
So, what's a decent win rate for deals that have received proposals? A survey conducted by the RAIN Group Center for Sales Research found respondents had an average win rate of 47%. The survey involved 472 companies with sales team that range from ten reps to over 5000 reps.
2. Average Close Rate
Average close rate measures how many opportunities closed during a given period compared to how many new opportunities were created during that same time frame.
The average close rate across all industries sits around 19% - which is interesting but not quite as useful as specific data about your industry. To find out how your sales team stacks up against other companies in your industry, use HubSpot's handy tool to compare your own close rate against competitors.
For tips on how to close sales more effectively, check out our advice on closing like a boss.
3. SQL-to-Customer Conversions
Aside from just looking at your win rate and close rate, you can also measure your team's success by tracking how many sales qualified leads (SQLs) convert into customers.
What's a decent conversion rate for this stage of your pipeline? Well, cross-industry research has found that just over 22% of all sales-qualified leads (SQLs) turn into actual customers.
However, this number can vary based on your specific industry. For example, software companies have an average SQL-to-customer (or subscriber) conversion rate of 27%.
4. Average Customer Accounts per Sales Rep
This is the ratio of customer accounts to sales reps and, while there are no hard and fast benchmarks to aim for, you can use this metric to optimize your team's performance.
Why should you track how many accounts each of your sales reps is managing? Because if you have a ton of accounts and a small team, you need to make sure your customers are all getting the level of service they need and reassess to see whether there are cross-selling opportunities you've overlooked.
On the other hand, if your reps have fewer accounts to manage, the level of service and attention to detail will be high, but you're likely not making the best use of your resources.
5. Sales Cycle Length
How long does it take to move a prospect through your sales funnel? Are there certain pipeline stages at which your leads tend to get stuck?
If you don't know the answers, it's time to start measuring your sales cycle length. That is, how many days a customer typically spends in your sales pipeline before committing to a purchase. (Sales funnel tracking software can help.)
To give you a point of reference, consider that the average sales cycle for a tech company is 69 days. However, the more complicated or expensive your product or service, the longer your sales cycle is likely to be.
6. Average Deal Size
This one's pretty straightforward: it's the dollar value of your average sale. Of course, the numbers vary greatly based on the cost of your product and the size of your team.
According to InsightSquared, the average deal size for tech companies with an average sales price (ASP) of less than $1000, the average deal size is around $504. However, those with an ASP of $1000-$5000 have an average deal size of $2700 – and those with even higher ASPs have correspondingly higher average deal values.
Tracking average deal size over time can reveal quite a bit about how you can improve your selling process. For example, if your average deal size is below market average, you might decide to focus on up-selling or create new pricing packages that encourage larger purchases.
7. Customer Lifetime Value
Customer lifetime value (CLV) refers to how much value a customer or account provides to your company from their first purchase to the moment of churn (i.e. when they're no longer a customer).
As a general rule of thumb, your CLV should be at least three times higher than your customer acquisition cost (CAC).
Since gaining a new customer isn't cheap, increasing your CLV can boost your profits and, if you're lucky, even reduce your CAC.
Although improving CLV might involve closing larger sales, it can also be achieved by other means. For example, improving customer retention, encouraging cross-selling, and leveraging other forms of value that customers can provide, like testimonials and referrals – which can reduce your CAC and score you a healthier CLV:CAC ratio.
8. Email Open Rate
You can't make sales without connecting to your prospects – and you can't connect without getting your emails opened and read.
That's why it's so important to track your email open rate.
Average email open rate is simply how many recipients actually click on the emails you send out.
According to HubSpot, tech companies have an average email open rate of 37%.
Propeller can help you create, send, and track more effective cold email campaigns. Ready to see it in action? Start using Propeller for free today!
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