I have discussed payout percentages and slots games in a handful of times in my blog. Really how payout percentages and slots games work seems easy enough to understand. However, it would seem that to some online slots game players the concept is still not clear.
I say ‘concept’ because payout percentage is not an exact thing. Let’s say that an online slots game has a payout percentage of 97%. Here is what it means to an online slots player:
First, it means that this online slots game has been set to payout 97% of the total wagers that it takes in. So, to make the math easily understood, if a particular online slots game takes in $100,000 in total wagers from all of the players who spin the reels, it means that $97,000 of those wagers will be paid back.
That is all the payout percentage means.
It does not mean that you will be the recipient of that $97,000. The $100,000 taken in comes from all of the wagers made by all of the players. So that $97,000 in total is randomly paid out to players. It does not mean that one online slots player is going to receive a $97,000 payout. There is no way to determine how the $97,000 is going to be paid out, only that it will so that the online slots game in question is operating within its programmed operations.
So what good is payout percentage?
It gives you an idea of what your expected loss per dollar is. In the above example it means that you can expect to lose $0.97 for every $1 wagered. It does not mean that you will lose $0.97 per $1—you might lose more or you might even win more.
The point of payout percentage is so that online slots players know that the slots game must have a targeted performance value. If an online slots game is said to have a 97% payout percentage and it does not meet that percentage, the online casino or the software developer must answer for it.
Keep a look out for a post later today on how you can use payout percentage.
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