Understanding the Online Casino Payout RatesPublished January 4, 2005 by OCR Editor
One area of online gambling that is crucial to understand is the payout system. You have probably seen an online casino that proudly displays a 96.8% payout rate on any given casino game.
Wondering what the payout rates actually mean? When you see a payout rate at an online casino of 97% it reflects the winnings to wagered amounts. It does not mean that one player who spends $100 in wagers is guaranteed to win back 97% of his wagers but rather 97% of the total casino winnings are paid out. This is a big claim to make so therefore there needs to be some way to verify it.
There are 3rd party companies like eCOGRA and OPA that audit the casino and check the financial records as well as software integrity in order to issue a certificate that verifies the accuracy of the payout percentage displayed by the online casino. This process usually happens on a monthly basis and most online casinos will make monthly certification statements available to the public showing the changing payout rates.
The payout rates should change form month to month since the payout is determined by random number generating software that will not produce the same results month after month. The random number generator is part of the software and used to determine the outcome of each game played usually at the same odds or better than the real game would offer at a land based casino. This is to endure that the software works on the same principle as real casino games. That way the player can truly feel comfortable using the software to gamble and not worry about its accuracy.
If you are someone that enjoys playing online casino games then we suggest you look out for payout percentage information when you are playing at your favorite online casino. Good luck and remember, the more you know the better you'll be able to play at online casinos.