Casino Payback Percentages
The best slot machine games, where payouts are concerned, are always online based. The percentage falls dramatically live as compared with online. Where the general online average RTP percentage tends to hover around 95%, land based casinos can – and often do – offer percentages as low as 75%. Slot Payback Percentages are a long term proposition. You will find Slot payback percentages programmed into every slot game give back a certain portion of all the money fed into the machine. In land-based casinos penny and nickel denominations have the lowest payback, quarter slots pay better, and dollar and higher denomination machines pay. He replied, “I've always said that you can tell how stingy a casino's slots are by how they set their video poker and video keno machines, which are quantifiable. In 2017, I did a survey of both games at all the major casinos in Las Vegas. The average Strip payback percentage for video poker was 97.01%, for video keno 89.97%. While the state may only require a minimum payback of 86-percent, most video poker and slot machines pay more. The average payback in Nevada is lowest on penny slots at about 90-percent. Dollar slots and some Deuces-Wild poker machines have the highest payback at nearly 99-percent.
The following information was gathered by the various Gaming Commissions controlling their casinos within their jurisdiction. Casinos constantly add and remove slot machines, trying new slot variations, therefore, the following information is presented as a guide only because these numbers change slightly every day.
How do odds work in slot machines? Unlike some other games, they’re fixed. However you play, the odds of winning do not go up or down, but always stay the same.
Payout odds vary based on the machine. Two slot machines may look identical, yet may have different odds. So you can’t tell by the appearance of the machine.
The odds of hitting the top award vary greatly by machine, and may be as low as one in 17,000,000 spins – comparable to winning Lotto 6/49.
Tip
Over the long run, the machine is guaranteed to make money.
Slot Payouts
When playing slots, knowing the payback or payout percentage of various machines can help you understand your chances of winning.
- Every slot machine arrives from the manufacturer with a computer chip capable of pre-determining how much of the overall player spend the machine will pay back to players over its lifetime. Machines are set by the casino, also known as the house, to payback a certain percentage of coins played, including paying out the jackpot
- The pre-programmed amount that the house keeps is called the hold
The payback percentage, regulated by the Alcohol and Gaming Commission of Ontario (AGCO), is: Minimum: 85%
The payback percentage is meant to be representative of the machine’s entire lifecycle, which can be many millions of spins. When the payback percentage is 85%, this doesn’t mean that you can expect to win back $85 if you gamble $100 on that individual session.
The payback percentage doesn’t affect the short-term. Because of randomness, anything can happen when you play.
Compared to other casino games, slots favour the house more.
Payouts of different machines
It's easy to think the higher the “denomination”, the more a machine pays out - for example, that a dollar machine will pay more than quarter machines. In Ontario, this isn't always the case. Always check the paytable to know what a machine pays out.
OLG doesn’t have complete control over the payouts of slot machines. This is regulated by the Alcohol and Gaming Commission of Ontario (AGCO).
Casinos are not allowed to change a machine’s payout while someone is playing or winning on them, nor can they adjust machines during weekends.
Ready to play?
Casino Payback Percentage Explained
You hear about it a lot—payback percentage. But just what does it mean? We will try to explain this important concept as clearly as possible in this page.
Imagine a casino where no one ever wins. No matter what you play and how much you bet, you always lose. It doesn't sound like fun, does it? Not for long, everyone will leave that casino. People go to casinos to have fun gambling, and losing isn't fun.
That is why payback percentage exists. To keep their patrons happy and make sure they come back, casinos deliberately allow these players win a set amount the whole time. They cannot set how much each *individual* gambler will win, but through calculations and programming, the casinos can and do make sure that their players *as a whole* win a predetermined percentage of the money that goes around in the casino.
And what is this money? It is the total money wagered by the players themselves. All players wager; some win and others lose. Those who win earn their winnings from those who lose. Payback percentage is the amount paid out to winners on average when it is all totaled. If a video poker machine is configured to have a payback percentage of 94%, then over the course of time, it will give back to players $94 out of every $100 wagered into it.
Payback Percentage and Volatility
Casino Payback Percentages
Now a word must be said about volatility and the short-term look of things. You cannot assume that just because a game has, say, a 90% payback percentage that you should get back $90 out of every $100 you wager in the game. It does not work that way especially if you play only for a short period. Anything can happen in a short time and the more volatile a game is, the more will individual playing sessions fail to reflect its long-term payback percentage. Volatile means there are prolonged winning and losing streaks experienced while playing a particular game.
Iowa Casino Payback Percentages
So suppose you play a slot machine which the casino says has a 92% payback percentage. If you play $50 in one session and walk away with $40, the payback percentage for that session is 40 / 50 = 80%. If you play the $40 again and end up with a total of $49, then the payback percentage for both sessions is (40 + 49) / (50 + 40) or 89 / 90 = 98.8%. If you continue playing, the odds preset by the casino in the slot machine will start to become noticeable. Eventually you will get the 92% payback percentage.
That is how casino payback percentage works. If you want to play games with high payback percentage, the best place to look is the Internet. Play now in our favorite online casinos and get big bonuses when you sign up!