One of the most important things to pay attention to when playing slots is the payout %. So this article will begin by going through the basics of understanding how this works. The expected payout is how much a player should (in theory) expect to get back for every £ spent.
An overly simplified version would be to say that if there’s a 92% payout %, for ever £100 you play on the slot you should get back $92. At 95% it would be £95, at 99% it would be £99 etc. Generally speaking, an online casino will never have over 100% as this would mean losing, something casino’s aren’t known for!
For those gamblers more accustomed to thinking about house edge it works the other way round. A 98% payout percentage is a 2% house edge and so on.
It absolutely goes without saying that just because a game has a 98% payout, does NOT mean to say you’ll only lose $2. This ignores something online poker players will be very familiar with – variance. This is basically the name for what happens when it’s possible to lose a lot or win a lot in one sitting. Every time a jackpot is win, many players need to lose to pay for it. This is why it’s not only possible, but likely, to lose in most single sittings.
Please do remember that slots are VERY DIFFERENT from most casino floor games when it comes to payout percentages. For example take blackjack, which has a house edge of about 2%. If you play over one million hands of blackjack, you will lose exactly the house edge, there is no maybe. The same goes for roulette, or baccarat; if you play perfect strategy and the same stake, you will lose the house edge. When it comes to slots, whether or not you play a full year or more in profit depends only upon whether or not you hit a JACKPOT (something most people sadly do not). Because your play is having to pay for the people that do hit that jackpot, the day-to-day house edge is higher.
The big lesson from all of this, is that it’s absolutely crucial to only play games with a high payout %. IF you don’t do this you are quite literally donating to the casino. Take some extra time to go through the sites and pick out the right slots. Our home page gives some examples of the vey best.