What exactly is a payout percentage? In layman’s terms, a payout percentage is the amount of money that the casino game pays out. To settle some confusion: a payout percentage is not directly correlated with the amount that an individual gambler deposits into a machine.
It is the total percentage that the casino will return, minus profits, to all of its players. Most games do not have a flexible payout percentage, because very few offer the possibility of player input to affect the result (i.e. skill). Black Jack and video poker are the options that offer a flexible payout percentage.
It is advisable to look online or find out what the payout percentage that the casino advertises. Some can offer 95% or even 97% payouts, which mean that the casino will redistribute 97% of the total money that is deposited over a period of time. Unfortunately, the average payout of Australian pokies hovers around 90% (from Online Pokies: http://www.onlinepokies.com/facts.htm). It is usual for payout percentages to be higher on larger-domination pokies.
Your own payout percentage is calculated using the basic mathematical theories of probability. The theory of probability describes events, and the likelihood of those events occurring.
For example, there is no chance of drawing 7 Queens from a standard deck of cards, so the probability, “P”of this event, “(A)”, or P(A)= 0. Conversely, an event that is certainly going to occur, will have a probability of 1. An example would be the probability “P” of drawing either a heart, spade, diamond, or club “(A)” from a standard deck of cards. In this case, P(A)= 1.
To work out the probability of something, divide the summation of the possibilities of an event occurring by the number of outcomes that exist for a specific scenario.
Expected Value is used to calculated the theoretical payout per bet. These probabilities are used to form said expected value, which is calculated with the function below.
[(probability of winning) x (amount won per bet) + (probability of losing) x (amount lost per bet)]
The RTP or Return to player or as they are more commonly known payout percentages of any online pokies game can vary in size. Also note that the higher the payout percentage a pokiesgame has attached to it the more playable that pokies game will be from a players point of view. In land based casinos the pokies games have low payout percentages often as low as 70 to 80 percent, however when playing online you will generally find these types of pokies boasting payout percentages of around the 94 to 96 percent. There are many pokies to play with real money at online casinos that have payout percentages as high as 98 and 99 percent!
The one most important factor therefore of any pokies game at online casino is not whether that game has a nice looking theme or whether the bonus game that can be triggered and awarded on but it is the actual payout percentage on offer, for the higher it is the more chances you will have of winning more regularly when playing pokies in real time.
You simply need to know just how much you have played through any pokies game in stakes on any one single session and also know the exact amount of cash you won during that session then with a simple mathematical equation you will get that session’s payout percentage.
So by making a note of every paid for spin on the reels you played and knowing exactly how much you won during that session if you divide the winnings by the stakes you will arrive at the payout percentage for that session. Apply the formula as described above and you can easily find the payout percentage of pokies games.