Winning is usually in the mind of any player that visits a casino. As such, before playing any game, you need to establish what you could possibly make from the different games. If you are a beginner or a professional gambler, understanding the payouts in terms of percentages is critical. Let us dive in!
The payout percentage refers to the percentage that a casino pays out to players. This is in relation to the winnings and is also known as RTP. In short, this means that a casino will pay more cash to players if it has a higher percentage.
How do payout percentages work in casinos?
Understanding the computation of payout percentages is important. This is derived from taking the amount wagered and dividing it with the paid-out winnings. In essence, if in a particular game a casino realized $50 million as wagers and ended paying out $30 million to winners, the payout will be 60%.
In most cases, the payout percentages are audited by independent organizations such as eCOGRA or GLI. These organizations test the various games offered at a casino. The main purpose of this exercise is to ascertain that casinos are making fair and accurate payments to players.
As a player, please note that a payout percentage is different from house edges. When it comes to house edges, casinos will compute the percentage that they will keep for each bet, ultimately. This is based on the long-run computation. What this means is that when a casino has a machine with a 5% house edge, for each bet of $100, they will rake in an average of $5 over a long period of time.
Why casino payout percentages matter
While the casino payout percentage is not the only thing that matters when choosing an online casino, it is certainly one of the important factors. Casinos with a higher payout percentage offer better chances for players to win huge sums.
Of course, as a player, it is advisable to give it a shot at a casino and see what happens. However, if you want to have a better chance of great prizes, pick a casino that offers high payout percentages.
What factors affect the casino payout percentage?
There are a few factors that affect the payout percentages. The main ones include:
- Type of the game;
- Casino;
- The bet amounts.
The first factor is the type of game you are playing. As we mentioned earlier, slots have a higher casino payout percentage than blackjack. As such, your winnings are higher, when you choose to play slots as opposed to blackjack.
The second factor is the online casino you are playing at. Some online casinos have higher payout percentages than others. That means that you are more likely to win big prizes if you play at a casino with a high payout percentage.
The third factor is the amount of money you bet. The more money you bet, the higher your chances of winning. But remember, you can also lose more money if you bet more money. So, always be careful and never bet more than you can afford to lose.
How to identify a casino with high payout percentages
There are a few ways to identify an online casino with high payout percentages.
- The first way is to look for the casino’s logo on the homepage of the website. Most reputable online casinos will have their logo displayed prominently on their homepage.
- The second way is to check the About Us page of the casino’s website. This page should contain information about the casino’s payout percentages.
- The third way is to contact the customer support team of the casino and ask them for the casino’s payout percentage.
These are just a few of the ways you can identify an online casino with high payout percentages. Remember, the higher the payout percentage, the better your chances of winning big prizes.
Wrapping up
Now that we have explained what the casino payout percentage is, we hope you have a better understanding of how it works. Remember, the higher the casino payout percentage, the better your chances of winning big prizes.
When choosing an online casino, always look for the one with the highest casino payout percentage to increase your chances of success. Good luck!
Read more: Best Gambling Payment Providers
