What are online casino payout percentages
Online casinos have become the go-to place for any serious player that wants to win top real money prizes while also enjoying their favourite casino games. While online casinos are going out of their way to offer players the best customer experience by providing unique promotions and bonuses, as well as the most recent and technologically advanced games, winning will always remain the ultimate goal.
Most players make use of specific strategies when playing their preferred online casino games, but one of the most important things to understand is how online casino real payout percentages work. Top online casino payout percentages are a great way for players to maximize their experience and gain major earnings from an online casino.
The rule is pretty straightforward – the higher the payout percentages, the greater a player’s return on the money deposited. Read through our review below to get some insider’s tips about what these payout percentages are, and what key features to look out for next time you visit your favourite online casino.
What are online casino payout percentages?
Online casino payout percentages (sometimes shown as RTP – Return to Player on websites) are an important factor to consider next time you decide to play at an online casino. The most professional websites will generally always make this information public by issuing yearly updated figures. While casinos in general are perceived as having a bad reputation for not dishing out wins to their customers, software advancement has pretty much made this obsolete. Random Number Generator software that is used for almost every online casino game guarantees a fair gaming experience for players. As such, online casinos actually want to prove to their players how fair their games are!
Payout percentages can be explained as being the number of winnings paid out by the online casino for all the bets placed. These casino payout rates are calculated on the basis of all the games that are available at an online casino’s lobby, with some websites even providing detailed figures for different types of casino games.
So if an online casino where to have a payout percentage of 96.8%, this means that $96.8 in winnings are paid out to players for every $100 that is wagered. This does not mean that each player is awarded the same payout percentage, and the figure is taken on the global amount of bets made for all players.
Understanding how online casino payout percentages work
Simply being aware of what online casino payout percentages are is not enough. Did you know that these figures are generally preset by online casinos to ensure that they can retain some control over how much money is dished out to players? Online casinos are businesses that want to make a profit at the end of the day, so this is not a surprising revelation.
Despite this, there are several factors at play that determine how casino payout rates operate. In the most basic terms, online casinos used simple mathematics to determine payout percentages. Taking our previous example, if an online casino has a payout percentage of 96.8%, this does not mean that every single slot, roulette game, blackjack round and so on will have an exact 96.8% payout for each individual spin or hand played. In fact, the percentage is generally calculated as an average of the revenue generated by the casino from losing games. Thus, you can read this article about the most winning slot machine!
Online casinos will then make adjustments on specific games in their lobby to ensure that they keep the payout percentage as standard as possible. In fact, it is quite common that this value varies by some 1% to 2% in different periods of the year.
However, players can still be rest assured that online casinos do not adjust casino payout rates to their benefit. The regulatory bodies of the jurisdictions where the online casinos are registered always demand that these websites pay out minimum percentages to their players. In addition, regular audits are undertaken to ensure that these online casinos are compliant with these laws, which ultimately make sure that players are placing their wagers in a fair and safe environment. This is the main reason why we always advocate for players to only play at online casinos that are registered and licenced in reputable jurisdictions! These are also factors seen on safe online casinos.
The relationship between online casino payout percentages and casino game odds
Now that the mechanics of casino payout rates have been covered, it is equally important for players to understand that every single online casino game carries different odds, which means that they each have their own RTPs! In fact, even two different slot machine games will have different online casino payout percentages when they are stacked up next to each other.
In order to better understand this, players should also be aware of house edge, which is the profit a casino makes as a percentage of the original bet placed. House edge is mostly applicable to online casino games such as table games, and the lower it is the better it is for the player.
House edge and payout percentages are related as well, so going back to our previous example, a 96.8% RTP indicates a house edge of around 1.5 – 2%.
Online casino payout percentages for individual games are generally associated with slots, and a quick online search of your favourite online slots game will provide sufficient information about its RTP. The house edge for standard games such as blackjack and roulette is also available online since the types of bets and possible outcomes placed are mostly the same for standard versions of these games.
As a rule of thumb, games that require players to use more skills, such as craps, blackjack, and video poker carry the best odds for players, while games that are more dependent on luck of draw such as slots, roulette, and baccarat will have less favourable odds. Read more about casino games to win money in this article.
Cashing out is so easy!
After covering all the basics that you need to know about casino payout rates, this review would not be complete without actually explaining how you can cash out all those winnings! There is no greater feeling for any online casino player than going to their account and withdrawing their hard earned money at the end of the day.
Generally speaking, online casinos offer a wide range of online banking methods for their players. However, the options available for withdrawing funds are always in shorter supply than those available for making deposits. This should not be seen as an inconvenience, as the most popular withdrawing methods that are pretty much available at the most reputable online casinos are very efficient.
Players are always advised to keep their withdrawing method in mind when signing up for their new online casino account. This is because most online casinos ask players to use the same method for both deposits and withdrawals. In addition to this, while deposits are mostly instant, cashing out can take some time to clear depending on the method chosen. Get to know most popular and secure casino deposit methods.
One of the most popular withdrawal methods chosen by players are eWallet services. These are convenient, highly manageable, and have a quick clearance rate which makes them ideal for withdrawing online casino winnings. The most commonly found services are Neteller and Skrill, and some online casinos also provide PayPal as an option.
Debit and Credit Cards
Debit and Credit cards are still very prominently used in the online casino business. With popular brands such as Visa and MasterCard being widely used by online players, this method of withdrawing funds from casino accounts is also very practical for most players.
Some online casinos also provide players with a choice of prepaid cards for withdrawing their winnings. One of the most popular names in the business is PaySafeCard, which gives players total control and flexibility through a 16-digit PIN number. These cards are linked to the player’s bank account, which offers an added layer of security that is highly sought after.
Despite the fact that the majority of online casino players have moved on to newer electronic methods of depositing and withdrawing their funds, some would still prefer to use a good old fashioned check. The eCheck service is the same but in electronic version. However, players are warned that this method might require some planning in advance as it can take up to a week for winnings to arrive.
Research is key!
When it comes to online casino payout percentages, the key point to remember is research! All the information about these figures is available at the most reputable online casinos, but not all players seem to give it much thought.
The same can be said for the different types of games that are available at an online casino’s lobby. A quick internet search will provide plenty of information about RTPs and house edge figures for almost every kind of slots and table game.
It would be a bit foolish for players to simply find an online casino (look for safe online casinos), open an account, and start playing with real money without understanding if they are playing at the best online casino or the most favourable game.
The same can be said for the type of withdrawal method chosen to cash out those hard earned winnings. There are several options available, but players should be aware of the different turnaround time for each one before committing.
So while it is always fun hitting a big slots payline, or landing a top hand in blackjack, research into casino payouts is a key factor in ensuring your success!