People who like to play slot machines are usually thrilled by the aspect of ‘luck,’ as they think it is the only factor which affects the outcome of the game. Contrary to belief however, slot machines are far more complex than what people make out. Not only do these machines use sophisticated software to determine their results (i.e. random number generators), they are also programmed to deliver a certain RTP (return to player) payout percentage. If you’re not familiar with payout percentages on slots, we’re going to outline exactly what it entails below.
What is the slot payout percentage?
usually use payout rates to determine whether the players are receiving the game well or not. On average, online slots provide an RTP of about 96%, but of course this can fluctuate based on several factors of the slot – such as the betting dominations, volatility, reels, paylines, jackpot amount, etc. But, these rates are essentially just statistics with the purpose of providing the player a general overview of their expected payout return in a game. There are a few ways in which online casinos make this information readily available:
- Payout Percentage Reports – These can usually be found within the casino policy and help sections on their website. They are readily available for anyone to see regardless of whether they are a customer or not. They show the average return given to players who participated on a specific game during that month, or within that timeframe the person is looking at.
- Calculated RTP Percentages – Online casinos can sometimes provide detailed information about individual games too, using the RTP as an indicator. This is very similar to payout percentage reports, only they’re worked out by conducting simulations through games, rather than analyzing real players’ betting activities. This information is usually displayed in online reviews or via the company site.
You may also encounter some terms like ‘expected payback’ and ‘long-term average return.’ The rate is represented in percentages, and the higher the rate is, the more beneficial it is for the players. RTP gives players an average figure based on the probability, and when/what kind of bets have been placed on it already. In comparison to other casino games such as bingo or keno, slots certainly have one of the best payout percentages there is, which is why they are so enticingly popular and fun.
RTP is not the same as the House Edge
The Return to Player percentage is essentially the opposite of the house edge. RTP describes the odds of the player, whereas house edge represents the advantage the casino has over the player. It’s quite easy to calculate the house edge in casino games based on the RTP.
How to find out the average slot payout percentage online
There is a special agency, eCOGRA that is oriented on revealing average rates of online casino slot games. However, we have already mentioned that not all rates are disclosable. For instance eCOGRA has the right to disclose only the average payout percentage of all slot games of online casinos in general.
Examples make it all clear!
Say you are playing a game like American roulette, which has a house edge of 5.26%. 100% – 5.26% = 94.74% RTP. You can apply this formula to any casino game where you know one of the values to distinguish the other.
Now, let us take a rate of 80% and a player who bets $10 online. Eventually, the expected return is $8. So the next time you choose an online casino slot game – search for the highest payout percentage to receive the best possible odds.
Problem with the average slot payout percentage online
First of all, it should be said that this number is not computed in a same way as it is for the games like roulette; complex math solutions are involved in calculations. The trouble is that usually the players of the online casinos do not have access to these numbers. Only the organizations that monitor the randomness and fairness of the games and the developers of the website software are informed about the slot payout percentage online.
How to find out the average slot payout percentage online
There is a special agency, eCOGRA, that is focused on revealing average rates of online casino slot games. However, we have already mentioned that not all rates are usually disclosed. For instance eCOGRA has the right to disclose only the average payout percentage of all slot games of online casinos in general.
What is the average rate?
Based on the available data, the average rate of the majority of the online casinos is somewhere between 94% and 96%. This means that if a player spends $10 daily for, let’s say, 100 days – then the final amount becomes $1000. If the slot payout percentage of an online casino is 95%, then the expected amount that the specific player might lose is around $50 in a span of 100 days. Doesn’t seem like a lot when the chances of winning are so attractive, does it?
Random Number Generators dictate the results of slots all in all
Although it certainly helps and motivates to know what you can roughly expect back from your gameplay sessions on slots, at the end of the day these online machines work with RNGs (Random Number Generators) to ensure fairness and consistency with every spin of the reels. So if you ever overhear someone say that an online slot machine will pay out frequently, take it with a pinch of salt because your chances of a win are exactly the same regardless. Don’t think this automatically means you won’t hit it big on your next spin though!
It’s always helpful to know these kind of things when you play casino games online, but it’s incredibly hard to work out the RTP of online slots due to the way they are programmed. That being said, we’re pretty sure you’d rather play slots knowing you have an equal chance at winning as opposed to a machine that runs off rogue algorithms, with the house always destined to win! Most trustworthy online casinos tend to publicize their RTP percentages for players to view in their terms and policies. Our advice is to check this upon any visit to an online casino, and make sure their games on offer are safe and legit.