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What are Payouts
Odds, finance, banking, payments... At the end of the day you want to walk with some cash winnings. This is what payouts mean to you, the player.
There are several main factors a gambler must look into and consider. These include the odds on hand, software issues, the law and regulations, and more. One of the factors is the Casino Payout Percentage.
Also known as the Payout, this is a figure that should appear on the online casino sites that you visit.
It indicates what proportion of the total money bet by players is being paid out as winnings. It is usually around the 97% mark, which means 97% of all the money bet at the casino is paid out to winners; the casino keeps 3% of the money, in this example.
Alternatively, casino payouts could be calculated per game, not globally for the entire casino.
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Furthermore, the payouts should be accompanied by third party verification. Audited payouts are a sign of the site's trust and fairness.
A verification certificate usually appears on the casino's main page. They should be updated once a month or so, and with the reviews be updated, and so vary slightly from time to time.
Three famous independent auditors are known around the industry. They are the Online Players Association (OPA), PricewaterhouseCoopers and eCOGRA (e-Commerce Online Gaming Regulation and Assurance). Others exist too, and can be looked up.
Payouts in perspective
Online casino payouts are calculated in much the same way that they have always been at land based casinos. They are, however, higher online compared to the brick and mortar casino payouts. Much higher in fact. This advantage is achieved for the mere fact that the expenses of the web casino are much smaller than that of the land based casino, leaving more money to be handed out to the players.
What makes for good payouts is not only the number, the percentage quoted. It is also the verification issue, and your feeling, too.