You might have heard about people becoming millionaires by winning at online and land based casinos. But a true gambler will know that in the long run, you will lose more than you win. That is because of something called as the payout ratio. The payout ratio is a very significant figure for gamblers. Any live online casino with a high payout ratio should be on your radar as there are only a few casinos that offer good payout ratios.
What is Payout Ratio?
If you read the terms and conditions mentioned on the live online casino websites, you will see that they claim to offer a certain payout ratio. Usually, the figure will range from 95% to 99%. What this means is that out of the total money that all the players put into the game, 95% to 99% of the total is handed out in the form of winnings. The rest is used by the casino operator to cover operational costs and other expenses that he/she incurs for running that online casino.
Significance of Payout Ratio
You might wonder why you should gamble considering that you will lose more than you gain. This is a common misconception associated with the payout ratio. Here, you must consider the money that all gamblers put into the game. The number of players can be thousands; hundreds of thousands on leading live online casinos. So, if you play well and win, you will win what they have lost. So, it is not that you will always lose.
But theoretically, you will be losing in the long run. Assuming that the casino software is foolproof and you are not cheating, statistics suggest that you lose more than you win. But good players have often found a way around that owing to the sheer number of players who gamble on online casinos.
Payout Ratios Vary
You must also keep in mind that the payout ratio in a single live online casino will vary across different games. Depending on their strategy and the business model adopted, online casinos offer bonuses and offers on games. Because of this, they tweak the payout ratio such that they can recover the operational costs. This is perfectly legal and well within the realm of good ethics also. Therefore, pick casino games that have a high payout ratio. Statistically, you have a greater chance of winning them.