If you wish to become a well educated casino player, then there are a number of things that you must know. The first thing on that list of things to know is probably the statistics of whatever situation you find yourself in because while there is a lot of emotion and instinct to playing well at the casino, there is also a lot of mathematics to it. While mathematics are going to be in the house’s favor at all times during a casino game, starting from a point where the house edge is as small as possible is essential to being able to defeat a game in good order. And the best way to know what the average house edge is for a game is to understand what the online casino payout percentage is.
If you happen to run a business where you put in $1000 and earn $2000 in the space of a fixed amount of time, what exactly can you say about that effort? Well, for starters, you can say that the payout percentage that you received was 200% since you put in half of what you got back. In the same way, if you ended up getting $900 out of the business, you would say that the payout percentage was 90% instead of 200% because you got nine tenths of what you put in back rather than twice what you put in.
This is exactly how the payout percentage statistic for an online casino works. When you put in a certain amount of money playing at a casino, you do not expect to receive all of it back. The ratio of that difference between what you put in and what you get out is exactly what you want to know because that corresponds to the payout percentage of the casino. If the casino returns $98 for every $100 it receives, then it has a payout percentage of 98%.
Many people might be skeptical about the idea of a payout percentage, citing a number of drawbacks to the statistic. The main drawback to using the payout percentage as your guide to casino selection is that it applies to the casino as a whole, rather than the specific game that you are interested in. If, for example, you are interested in blackjack and blackjack accounts for 10% of the casino’s revenue, then it means that blackjack does not influence the result of the payout percentage that much and could be a wide range of values that you would never be able to guess from just looking at the payout percentage statistic.
However, where the payout percentage is useful is when you are evaluating the honesty and reputability of an online casino. There is no reason to play at a casino with a payout percentage of less than 90% because almost every single reputable one has one that is close to 95% or 96%. Once you have then picked a final list of possible online casinos from the payout percentage, then you can combine that information with game-specific information to allow you to make a completely accurate decision about which online casino is going to be the best for you.