The Science of the Phrase “The House Always Wins” as it Applies to Online Casinos
When it comes to betting, the house always wins, and this refers to online betting from the highest paying online casinos too. If you are an avid bettor, you must have heard this saying. Casinos use Return to Player (RTP) percentage when paying out players’ winnings.
What is the House Edge?
The house edge refers to the percentage showing the advantage a particular casino game has over its players. However, it is not the ratio of a player’s total wager to the money he loses. Online casinos let players know the average loss they will incur to their original wager. That way, players can easily estimate their possible losses during one gaming session.
The higher the RTP percentage, the larger the house advantage. While many players know about the existence of the house edge, they don’t understand its effects on their bankroll. The truth is that the house edge doesn’t apply to your initial bankroll but the whole amount you bet.
Extra House Edge and Casino Profitability
The longer a player bets, the greater the odds of your play matching with the house edge. Playing for shorter periods keeps you ahead of the house. However, in the long run, you will end up with more losses than profits.
This fact makes casinos try their best to keep players betting longer by giving incentives such as bonus money and free spins. Those bonuses that seem too irresistible will cost you in the long haul without your knowledge.
No online casino game is designed to be more rewarding to players than the casino. So, a casino’s profitability will always be positive. As discussed, the highest paying online casinos’ profitability keeps increasing the longer players place more bets. It is why land-based casinos don’t have any windows or clocks.
How Odds Differ in Online Casinos
Online casino games are computer programmed and use graphics and software. For each game, the house edge is programmed mathematically into algorithms that define the results of each betting round. These games come with preset odds (RTP). It is the reverse house edge. For example, if a roulette game has an RTP of 97%, the house edge is 3%. Players have no control over the RTP as it is preset by the casinos.
Each game comes with a different RTP. Slots come with low, medium, or high volatility. RTP and volatility work concurrently. A game’s variance determines the difference between a slot’s RTP in every betting session. Low volatility slots come with a slight difference from this percentage. It might be why these slots pay small frequent payouts.
Generally, high RTP slots come with low volatility, which means that players get smaller frequent rewards. You will find high volatility on jackpot slots as they pay out massive wins. However, people rarely win these jackpots.
Medium volatility slots are the most common online slot games. If you want low-risk guaranteed wins, consider low volatility slots. These increase your winning odds.
How Does RTP Work?
You need to understand how a game’s RTP (return to player) works. For example, if a slot title has an RTP of 97%, a player will win $97 if they wager $100 on that slot. However, this comes with a vital condition. It doesn’t mean that players will keep getting 97% of their wager back in each betting session on the slot.
Online casinos calculate their slot RTPs across long betting sessions, which involve multiple gaming rounds. Since there are random outcomes programmed into every slot, players will experience some variations. The secret is playing higher RTP slots as they offer you better chances of frequent wins, unlike lower RTPs.
How Can You Take Advantage of the House Edge?
While players have no chance of influencing odds while betting, there is still hope outside the game. When browsing through an online casino, remember that no to games are similar as far as RTP is concerned. A slot’s RTP is determined and set by the software developer, and online slots’ RTPs vary between each title.
By going through the RTPs first, you can determine which games come with lower house edges and play them. Slots with higher RTPs increase your odds of winning. You should, therefore play these as they will yield you bigger payouts than playing titles with lower RTPs.
Jackpots and Bonuses Tactics Players Can Use
Besides RTP, players have numerous tricks they can use at the best paying online casinos to make the odds work in their favor. One such is volatility, discussed above. Players who prefer to chase the big prizes, without minding the extra risk should play high volatility slots that come with massive jackpots.
Another trick is taking advantage of casino bonuses. Every online casino offers players bonuses, including free spins and bonus cash that can help increase your bankroll. You will also find some free welcome bonuses from the best paying online casinos. Redeeming these bonuses gives you an edge as you can use them to try out new slots and earn the ropes.
If you are lucky, you can also win some money along the way. Such rewards include no deposit bonuses. They are 100% free with no risks involved. Also, you can claim no deposit bonuses from multiple casinos. As long as you don’t claim the same bonus from one casino, you are good to go.