When trying to decide what slots game to play, we will often consider its payback percentage. But do you really know what the payback percentage sign or posting means?
First let me define what a payback percentage is so that you understand the first thing such signs are saying. The payback percentage tells you how much a machine, a game, a bank of machines, or an online casino returns to players as winnings. The other portion of the payback percentage is the casino’s profit.
If you see a payback percentage of 94%, it means that it will payout 94% of the money put into it while the casino profits the other 6%. Using numbers, it means that if a thousand dollars was taken in, $940 would be paid out to players and $60 is profited by the casino. Obviously a lot more than $1000 is played at any one game or online casino.
But payout percentages can be presented in a few different ways. If you see a sign posted in a casino that is not associated with any particular bank of slots or see an online casino’s payout percentage in a review, it is the average of that casino or online casino. It does not mean that every single game will payout that percent. Some will payout less and some more, but most will fall in the middle.
An average like that has taken into consideration all the wagers from all their games. Bear that in mind when checking out what a casino or online casino’s payout percentage is.
In land-based casinos you might see a sign above a bank of slots giving the payout percentage. This means, by most state regulations, that all the slots machines in that bank have the advertised payout percentage.
But the one to be wary of is a sign above a bank of slots that says “Up to X% payout percentage.” This usually means that at least one machine has that percentage, but the others do not.
The thing to keep in mind when considering a payout percentage is what that percentage describes. Ask yourself whether it is for only one game, a bank of slots, one machine in a bank, or the whole casino or online casino. Taking the time to read and process what a payout percentage sign is actually saying could cost you from making even more costly mistakes.
For example, you would rather play at a machine where the whole bank is the advertised percentage, rather than in a bank where only one machine has the advertised percentage but you do not know which one.
The last thing to keep in mind about payout percentages is that there is no set time or set number of spins that the slots game must go through before releasing the jackpot. Slots are a game of chance. There is no predicting them. So you could keep playing a high percentage machine and not see any payback since there is no required number of spins or set time between jackpots being rewarded.
Tags: casino slots, online slots, payout percentage, slot betting, slot machines, slot strategy, Slots