Ask Genie: What Does Payout Mean in Online Gambling?

online-gambling-payout.jpg

Genie Answers:

Payout rates are statistics that, in essence, tell players how probable it is that they will win a game or how much they can expect to lose while hoping for that one big win. The Best online casinos offer payout numbers, which are sometimes stated as percentages, showing how much of the money bet in a casino (or on a particular game) is typically returned to players. They can be stated in a variety of ways, each of which is helpful for a unique reason, as we'll explore in this article. 

Average Win Rate

The ratio of the casino's payouts to the total amount of real money wagers it accepts is known as the average win rate or payout rate. The payout rate often refers to the casino's overall winning percentage when RTP is frequently reported for a particular game. The victory rate, like RTP, is an average number, nevertheless. As a result, rather than being a set value, it should be regarded as a guide. Casinos rarely disclose their average payout percentage. Instead, the majority give the player's return for each game, while some give a live broadcast of all victories on the site. You can examine the terms and conditions or ask the customer support staff for this information.

Return to Player Percentage (RTP)

Return to Player (RTP) percentages are a useful indicator for more detailed information about certain games. These operate similarly to monthly payout percentages but are determined by running simulations of games rather than tracking actual player betting activity.

A common abbreviation you'll hear is RTP. Almost all slot machines include an incorporated return to player, typically stated as a percentage. For instance, the Book of Dead slot machine has an RTP of 96.21%, or a 3.79% house advantage (100 – 96.21). This indicates that for every €100 you spend on the game, you have a chance to win £96.21 back. It may appear to be a formula for losing £3.79. The RTP, on the other hand, is an average determined over thousands of games. The RTP does not decide the amount you will receive because slot results are random, but it does give you information about how much you might win. Players have the chance to win thousands of pounds or lose everything they have.

Payout Percentage

The top online casino's commission a monthly percentage payout report from independent testing companies like Gaming Laboratories International (GLI) or eCOGRA. These publicly available test results, which are frequently accessed via links at the bottom of online casino website pages, in help sections, or in fairness rules, display the typical return to all players who participated in a specific game type over the course of the previous month.

For instance, a 2014 eCOGRA report for one casino revealed that 99.08% of money gambled on baccarat was returned to players, and 96.91% of the money wagered overall in June of that year. Since this represents an average of all wagers made by users during the specified time period, some users are likely to have performed better than average and others worse. A decent indication of how competing casinos compare is provided by comparing average returns.

Is All This Relevant?

Knowing all these terms and percentages is all well and good, but is it actually relevant to your online casino experience? YES! Understanding all gambling payments, processes, and percentages is crucial. Each game has its own rules that outline the requirements for success and a paytable that details the potential rewards. In a slot machine, for instance, three matching symbols will award 100 times your wager, whereas four of the same symbols will award 150 times. To determine your earnings, you need to review the paytable and rules. When using numbers, this calculation is frequently rather simple, but not when using percentages. A slot machine with a 98% RTP is more fun to play than one with an 88% RTP. You can either win or lose playing either game, and you never know what the random number generators will come up with.

The RTPs of games are important, and some jurisdictions mandate that casinos provide this data for all RNG-based games. There is no assurance of success or failure. Additionally, some games include variable return on investment (RTP), which rises when specific features are activated.

Sign up and Play Online Casino Games at SpinGenie

Learning what payouts are is part of being knowledgeable in playing online casino games and would help you in having a good online casino experience. At SpinGenie we offer a whole host of great online slots, casino games, Slingo games, and so much more. Sign up and play today.

Recommended

scratchcards-instant-win.jpg

Ask Genie: Do Scratchcards Guarantee Instant Win?

Find out more about how online scratchcards work with our Ask Genie guide. 18+ | Play Responsibly

READ MORE
Monopoly Big Money Reel Slot Review

Monopoly Big Money Reel Slot Review

Discover all the features and gameplay of Monopoly Big Money Reel in this review. Click here to get to know this Spin Genie game. 18+ | Play Responsibly

READ MORE
highest-rtp-jackpot-slots.jpg

Top Jackpot Slots in SpinGenie with the Highest RTP

Learn about the top Big Win slot machines here at SpinGenie 18+ | Play Responsibly

READ MORE
V: 1.30.0 All rights reserved. January 2020
top