Casino payouts are a very intriguing and confounding question. Gamblers use this word in various contexts. One such notion is that if a player deposits 100$, he will average a loss of 3$ if the online casino has a payout rate of 97%. This is a common misconception. Another misconception is that a payout percentage of 95%, for example, means that the player will get 95% of the money. These are some misconceptions that article will clear.
It should be understood that players always prefer a good payout percentage, which is considered as 95% and above. Such payouts are highly lucrative.
What is the meaning of Payout Percentage?
In an online casino when people make different bets the combined percentage of bets that are returned by the site to the players is defined as the payout percentage. Thus, if a collection of 100,000$ is wagered by players in a particular period of time, 97,000$ is returned to the players while 3000$ is won by the company if the payout percentage is 97%. Although this is similar to the concept that if you wager 100$ through this site, the probability of you winning is 97%. But this is a wrong concept. Aggregate bets made by thousands of different customers is taken into consideration while calculating the payout percentage.
Sometimes players at the casino tables are talking about payout ratios of a particular table. They are actually talking about individual hands and whether the payout ratio is worth it.
Different types of Payouts:
The payout system is flexible and different for each game. The factors that decide the payouts is decided by two factors: nature of games and the nature of the software installed. If a particular game has a higher payout then there exists a game on the same website with a lower payout.
- Payouts for skill based games:
Usually online casino games like baccarat and roulette are luck based games. These games involve luck. But skill based games like poker and blackjack are controlled mostly by the user. Opportunities are given to the player to change his luck. Hence the payout rate for this game is usually dependent on the user. The player can play smartly by bluffing and betting proper amounts to earn a handsome profit for most of the time.
- Is the game random or weighed?
Random means that when you play any game online, the result is not biased or does not have any particular pattern. Whereas as weighted means that the system follows a particular protocol that delivers a preconceived outcome when averaged. This tactic is followed by many online casinos which guarantee a payout percentage of 95% or above.
- Is the game rigged?
This is another question, one has to find the answer to before playing. Some payouts can be rigged by the owners. This cannot be proved but one can get additional information on the online casino on the internet written by their previous clients.
These were the different factors that affect the payout percentage of the online site.