Online casinos live and thrive on their house edge. For casinos to be operating for such a long period in history this house edge had to be minimal, so as to tempt players with an actual possibility of winnings. Up to this day online casinos make profit from the small percentage of the total bets that they keep. Table games and skill casino games don’t leave much to the casino. Often enough the games have only a 1% house edge, which means that the casino keeps around 1% of all bets made. When it comes to online slots, the casino keeps a bit more which is around 5%.
Most online casinos today advertise a generous 95% payout rates with their slot machine games. This is the standard but there are deviations to it. There are only casinos that in truth only pay out around 92% of the bets received on online slots. When you come to think about it 3% represents a serious amount of money that is going to the casinos rather than the player’s pockets.
Let’s make the hypothetical situations that an online casino receives in slot wagers around $200,000 a day. If on any given day the slots are paying the normal 95%, that would give $190,000 back into players hands and the casino is only making around $10,000 in profits that day. But now suppose the slot games are paying at 92%. The money going back to players would be $184,000, six grand less a day. That leaves a lot of room for more players losing and less players winning.
When it comes to percentages and numbers, even a few points here and there will make a big difference when you gamble online. Keep an eye out on what are the payout rates at your favorite online casino.
