When you enjoy your casino gaming online you often see a payout percentage in the region of 97% (at reputable casino sites anyway), but what exactly does this percentage mean? If you are a serious gamer then you probably want to seek out the casino with the highest payout percentage, as it will maximize your winning chances.
The principles of payout percentages
The casinos payout percentage is the amount that a machine or game at a casino will return to a player over time. Obviously, the longer you play that machine or game the closer you will get to that payout percentage. Online casino payout percentages vary on slot games and video poker games.
This percentage is based on the amount that is wagered at the casino (from all players) and then paid out as winnings.
If a casino has a 97% payout (also known as theoretical payout percentage) on all casino games then it means that £97 is paid out for every £100 wagered at the casino using the law of averages. The other 3% will be the casinos house edge. Therefore, to be clear, this does not mean each player will win 97% of the time.
What does this mean for the player?
With payout percentages generally varying from 85%-98% it makes sense to pick the games and casinos with the most favourable percentage (the higher one!). These percentages don’t take into account your own skill, the time played and your betting average. The main benefit is that you’ll probably play for longer.
For example, if the casino payout percentage is 80% and you wager £20 on a slot game at £1 a spin, and you’re down to only £11.36 after 20 spins, that doesn’t work out as 80%. This is because it’s a long-term expected payback percentage for each individual game. This shows that you’d need to play a lot longer for it to level out at 80%. Therefore, in the short run, you’ll probably lose, this only way to counter that is to wager more, which is always a gamble!
Audited casino payout percentages
To make sure that these percentages are fair and true to the word of the casinos, the online casinos have their payout percentages audited by third parties. This is to make sure that the correct payout percentage is displayed on the site (casinos can display false payout percentages), so the player can enjoy their gaming knowing they have a favourable payout percentage. You should only play at casinos that post their audited percentages on their website.
It would be a good idea to check third party websites like Top5 Casino Sites for the casinos payout percentage, and then you can confirm the figure and even compare the percentages of a number of casinos so you can pick the best one and take to your gaming with a better chance of winning!