Any novice player will surely be interested in learning how modern slot machines work. In this article, we will focus on such important characteristics of slot machines as payout percentages and variance, which will help beginners understand how winnings are given in online slots.
It is unlikely that this information will make you a millionaire in one second, however, after reading it, you will get a complete picture of how to choose the right online slot in terms of potential chances of winning.
PERCENTAGE OF PAYMENTS
The first characteristic that you need to pay attention to when choosing an online slot is the payout percentage or, in scientific terms, the mathematical expectation of a win. Payout percentage is a certain part of the total bets in the slot, which is guaranteed to be returned to players in the form of winnings. The higher this indicator in a slot machine, the better.
The payout percentage for each online slot is different: the most generous slot machines offer players 95–98% payouts, but there are models with an indicator below 90%. Now it is easy to calculate that the casino’s share of all bets will be from 2 to 10%. These parameters are set by the manufacturer when developing an online slot and remain unchanged. Another question immediately arises: can the owner of an online casino change the percentage of payments, that is, “tweak” the online slot?
This is theoretically possible. For example, you can change the paytable or reel layout by removing a few expensive symbols. In the first case, the changes will soon be noticed by attentive users, and in the second, the slot machine will have to be reprogrammed altogether.
Do not forget that online casino gambling software is periodically subject to a number of checks by independent organizations, and the test results and payout percentages are posted on the Internet for everyone to see. It is unlikely that a legal online casino or a world famous provider will sacrifice their reputation for a couple of extra interest.
Conclusion: choosing legal casinos with reliable software, you get high-quality online slots with a guaranteed correct percentage of return.
One of the most important characteristics that you should pay attention to when choosing a slot machine is the amount of variance. This concept came to gambling from higher mathematics. If the payout percentage is essentially the mathematical expectation, then the variance shows the degree of deviation from the mathematical expectation. If we translate this definition into the language of gambling, this is the degree of risk when playing this or that online slot.
The lower the variance of a slot machine, the more often it will delight players with small payments. For a highly dispersed slot, the opposite is true. If he has issued a large jackpot, then be sure – the next payout will take place soon.
Why should a player know the variance value? It’s pretty simple. Let’s take two online slots with the same payout ratio of 98%. The former distributes payments in small installments at short intervals, allowing players to systematically win. The second slot, after a hundred spins, gives only 10% of the sum of all the bets made by the player and only for the one hundred and first time gives out a large win.
Of course, in the second case, the risk of losing to zero is much higher than in the first. It will be all the more offensive if a disappointed player leaves the slot machine with nothing, and the next user who decides to play the same online slot will hit the mega jackpot from the first spin. This example shows that the chances of staying in the black are much higher for a player who opted for a slot with a low variance.