Everyone wants to get the biggest bang for a buck or a euro or a loony. When companies offer essentially the same products, like banks with certificates of deposit and casinos with slot machines, it pays to prominently post the rate of return. Economists call this marketplace one of homogeneous products – and money carries the day in the consumer purchase decision. When shopping for online casinos the player will want to check the posted payout reports to identify the best rates of return.
What Is a Casino Payout Report?
An online casino releases numbers monthly on how much money is returned to gamblers. This number is provided in percentages. For instance, a payout of 95 percent translates into $95 being returned to gamblers for every $100 wagered. These numbers vary from month to month due to factors such as amount of play and large jackpots awarded. Generally the bigger casinos with heavy play will show less variation over the course of a long period of time than smaller operations. If a particularly big jackpot has been awarded the percentage may even exceed 100% in a reporting period on rare occasions but if there are too many months like that the casino will be gone.
Why Do Privately Run Casinos Release These Numbers to the Public?
Casinos know that players are seeking trustworthy gaming houses in which to risk their money. Making their payout rates available is one way for a virtual casino to guarantee a fair game to potential customers checking out their website. Legitimate operations will submit their numbers to third party scrutiny in a verified audit. These casinos will make their certifications available to view online. Payout rates from different casinos are available on the Internet.
How Are These Payout Rates Interpreted?
Every casino begins play with an expected payback based on win probabilities of the games on offer. This being gambling, sometimes the wins are bigger, some months smaller. For the player in the casino the payout rate is an average of all wagers made at all games of chance and have no relevance for any individual gambling session. But the best payout casinos, if played for a long period of time, will bring the player the greatest rate of return.
One of the variables a casino can control is the rate of return on its slot machines, save for payouts on progressive jackpots. By comparing the payout report for a casino’s slot machine versus the overall payout for all games it is possible to draw conclusions on the table games as well. For instance, if a casino slot payback in 94% but the overall payout rate is 97% you can assume that the casino’s blackjack and craps tables are treating the players very well. Slot machines in most houses can account for as much as 70 percent of the revenue so be aware that most aggregate casino payout rate information is tilted towards slots play.
How Can Players Use Payout Reports?
First, don’t worry too much about actual numbers. Instead concentrate on key ranges of numbers. The difference among the best payout casinos is really measured in pennies. Look for casinos that fall in a range of the top payers – between 96% and 98%, for example. If the payout rate information falls in an acceptable range then move on to consider an online casino’s full menu of offerings such as game selection and bonus programs to come to a final conclusion on where to play.
Most gamblers have a favorite game and do not patronize every game equally so the overall payout rate of a casino can be a rather blunt and meaningless instrument beyond general acceptability. All players should know the expected house edge on their favorite games and seek the best returns only on those games. Numbers can differ dramatically from casino to casino in the racing books, sports books, table games and poker rooms.
Consider your favorite convenience store. They may sell chips at an actual loss to lure buyers into the store to purchase beer at a higher profit margin. Casinos can use loss leaders as well. For instance, slot machines can be set to return higher-than-expected payouts to bring in gamblers who can be tempted to play other games in the casino. So if your bankroll is devoted to a single game use the overall casino payroll rate as an indicator and concentrate on finding the best returns for your game.