Gambling – be it for money or for free is surrounded by myths. Slots myths in particular have done the rounds for many years, this irrespective of whether you are playing in a Brick and Mortar Casino or Online Casino.
There has not been too much said about the Online Casino Slots other than having read of people believing that one possibly wins more often when playing as a guest for free than for real money – this they say coule be attribute to the fact that these games offered for free are different to those played for real money. Well you can put that out of your thinking as it would be an expensive exercise for any Online Casino to have two different game plans running on any one slot.
Slots is a game of chance, if they run hot or cold then this is because of the RNG (Random Number Generator) irrespective of playing online or in land based Casinos – the RNG locks in a combination that tells the machine whether to pay out, how the symbols line up and whether you advance to a bonus round if there is one. Slots do not run in a cycle – with each spin, you have the same chance of hitting a payout or jackpot, regardless of what the machine paid on it’s last spin or the last however many spins.
There has always been confusion about payouts and percentages. They may sound alike but in fact they are quite different from each other.
Payout and Payout Percentage and how they work.
What is a Payout?
A Payout is when you gamble with money, the money that you withdraw from the casino as cash is called a payout. It is what the casino “pays out” to you.
What is a Payout Percentage?
A Payout Percentage is the amount of money gambled that a casino gives back on average. It is measured in terms of percentage. For example, a slot machine with a 95% payout percentage means that for every $100 put into that slot, the casino will give back $95 to the players (in the form of winning spins) and keep the remaining $10.
The payout percentage must cover for the casino’s overhead costs as well as turn a profit. If overhead costs are high for a casino, it cannot afford to give a high payout percentage. Payout percentage does not apply to each and every individual gambler. This means when you make a $100 bet and lose all of it on a casino game with, say, an 85% payout percentage, one can not accuse the casino of fixing or rigging. The payout percentage takes effect over a long period of time and the more a casino game is played, the closer it will get to its mandatory payout percentage.
And that is what makes payout different from payout percentage. A payout is what your total money is any time you want to cash out. A payout percentage is what the casino pays on a game over the long term.
Casinos don’t cheat because they don’t have to. The casino games have rules designed to give the casino an edge over the player, so it is guaranteed a profit all the time. Further, licensed and reputable casinos undergo close inspection by regulatory bodies. So you can be sure it is all in compliance with the law.
