Casino payout rates are one of the more confusing areas for online gamblers, as they struggle to decipher the rates and how they are calculated, as well as what makes a casino’s payout rate “good” versus “not-so-good”. Casino payout rates aren’t that difficult to understand once you’ve had an expert lay out the facts for you. This article will discuss what casino payouts are, as well as how they work and what is considered a “good” rate for you. If a casino has a “bad” rate, that could be very frustrating, as you’ll feel as though you did all that playing and nail-biting for nothing. A fair casino payout rate is one of the most important characteristics of a reputable, reliable, regulated casino.
What are Casino Payout Rates?
Calculating your likeliness of winning a casino game is very tricky, but that’s what casino payout rates aspire to do. While some players will claim that they have the puzzle solved, it is likely that they don’t. Casino payout rates are statistics that show the likelihood of winning a game. They also show the likelihood of how much you’re going to lose if you don’t win. These statistics are generally expressed in percentage form. A casino payout rate will tell players how much the casino gives back to them. The rate is how much of the money that a player wagers will be returned to them. There are a lot of ways in which a casino payout rate can be calculated and, while there are debates on which way is the “best,” all of them have pretty similar results. However, percentage form is the most commonly used way to express a casino's payout rate.
What are Casino Payout Rates’ Percentages?
The best way to determine casino payout rates often comes from an independent third-party source: gaming organisations such as GLI (Gaming Laboratories International) or eCOGRA, which are dedicated to ensuring the fairness and transparency of casinos and protecting the players from unfair casino payout rates. These organisations test casinos to see what the casino payout rates are, showing the amount of money returned to players after they played a certain game. These tests are generally conducted over a month-long period. The results are in percent. For example, a test was conducted on the popular 888 Casino, finding that the Casino returned nearly 97% of the money wagered back to its players, with an even higher amount on Baccarat.
Other numbers indicate similar results for slot games. There is usually a 96% to 98% payout for slot games. So, if a player wins $100, they will get $96 to $98 returned to them. High payout casinos include Casimba and Dunder, which have 97.2% and 98.5% payout rates, respectively. You should look for casinos that have a payout rate of at least 92%.
What does “RTP” Mean?
RTP means “Return to Player.” The RTP percent is one of the best ways to determine the casino's payout rates for individual online games, such as slots and table games, as well as live play. The way the RTP is measured isn’t by monitoring players’ play on certain games (as it is above with the independent monitoring), but instead by running simulations through these games to find the casino payout rates. Game developers generally feature the results of these simulations on their sites, as well as on the casino site itself. Its in the developers’ interest to promote a game that will give a high payout, as that will make the casino more likely to contract with the developer. It’s simple supply and demand.
What is the “House Edge?”
“House edge” is probably a term you have heard before. This really applies to table games such as Baccarat and Roulette. The house edge is the advantage that a casino has by being the dealer; it is the amount that a casino will gain from a player’s bet. The average house edge for Roulette, for example, is five percent. The house edge has different casino payout rates for different table games. The house edge can be affected and reduced through effective, advanced gaming strategies, but for your average player who doesn’t have time to learn how to do that, it helps more to accept the house edge and research casinos that don’t have an unfair advantage.
Find yourself a casino that has committed itself to transparency and fair play. An excessive house edge is unfair to you, and that’s why there are so many regulatory bodies looking over casinos’ shoulders to ensure that they are following the rules and guidelines. Casino payout rates do vary from game to game, but overall, they should follow an upward trend that gives you the overwhelming majority of the money you are owed.