If you are a player who is keen on playing slot games, you would understand that knowing a slot payout percentage is a piece of beneficial information. But unfortunately, a lot of novices often misunderstand the idea of the payout percentage. Because of their misunderstanding, they usually have an unrealistic expectation of how much they stand to win on the slot.
When novices due to their misunderstanding of what the payout percentage means don’t get what they expect from the slot, they feel cheated and disappointed. More than often such players wouldn’t play the slot game again. But it is such a shame because it their lack of comprehension of the payout percentage that caused the issue, not the online slot or the online casino in question. So, in this article, we would try to clarify what payout percentage means.
What is the Payout Percentage?
Payout percentage means the percentage of the total amount of money a slot would take up from players over a period and then pays it out as winning to a player. The percentage usually ranges from 75% to something around 98%. In essence, the payout percentage varies depending on the slot and the casino.
There is nothing more to what payout percentage means than that, but people often confuse it to mean the number of wins the slot would pay them which is wrong. Some players believe that if they invested real money like £100 in a Slot that has a 98% payout percentage, they would get £198, which is a wrong betting system ideology. Suffice to say that a payout percentage doesn’t mean how much of your wagering money you are going to receive back in a payout. Here’s why:
Payout Percentage – The number of spins
The first thing to note is that organisations like eCOGRA tests and verify the claims on a slot payout percentage. An organisation like eCOGRA achieve this by running a series of tests to authenticate the claim of the slot. It includes spinning the reels of the slot millions of times to generate the actual payout of the slot. It is only when the wheels of a slot are turned a lot of times before the payout percentage would make any sense.
In the real sense, the payout percentage makes more sense to the online casino as it is a statistic which tells them when a slot should payout. So, it is hard for a player to know the payout percentage of a slot. It takes a lot of fund and time to spin the reel for hundreds of thousands of times to generate the payout level of a slot machine.
The main thing to note here is that as a player, making a small number of spin on a slot is almost irrelevant to the payout percentage. The more spins you make on a slot, the more relevant the payout percentage would become for the player. Also, the player would need to spin the reel over a sustained period. So, the best way to view the payout percentage is as a measure of how much the machine can pay out after millions of spins.
Payout Percentage – Structure of payouts
Another key thing to note about the payout percentage is how the payout of the slot machine is structured. Consider this analogy; let us assume there is a particular slot machine with a payout percentage of 98%. And let’s say the slot machine brings revenue of 1,000,000 revenue in a month from players 1,000,000 times spin.
What this analogy means is that 2% of the revenue generated is for the casino, and the remaining 98% goes to the lucky winner of the progressive jackpot.
So, when playing a game of chance, like slot games, scratch cards, roulette tables, keno, lotto and the rest, play them for what they are. These games can bring massive wins for players provided they are lucky. And always remember, there is no harm in trying your luck.