The average payout rate is one variable you should keep a keen eye on every time you’re looking for an online casino to gamble in. It offers you a general idea about how big the house edge is, and because average payout rates are usually displayed on the website of the casino, you don’t even need to download the software and to actually give the games a spin to find it out.
Online casino payout rates are in the 95-100% range. Make no mistake about it, you’ll never find a casino which advertises higher than 100% average payout. That’s because casino gambling is fundamentally a negative long term expected value activity, which means that all casino games come with a built-in house edge which you won’t be able to beat in the long-run. Of course, there are some games in which you can cut deep into the house edge, but most of them don’t give you any sort of decision in the outcome, so you can’t influence those.
Given the fact that the online casinos offer much better payout rates than live establishments, you have a very solid reason right there to spend your gambling money online. Add to that the fact that live casinos hit you with countless distractions and that they do everything in their power to prevent you from leaving, and you’ll gain an explanation to why land based casino house drop rates are so much bigger than online ones.
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Since it’s the house drop that really matters and not the house edge (which only induces the house drop and which is smaller online too), it’s more than obvious that online casinos offer much better deals compared to land based casinos any day.
Does the negative EV mean that you won’t ever win anything in a casino? No. Variance means that you can win and you can win big. What the negative EV and the Payout rates express, is that over the long run, the wagers and the winnings of several players cumulated, will point to a player loss.
Some of the best payout rate games are blackjack and video poker. These are the only casino games which give players the opportunity to make a choice and thus to influence the outcome. Besides the fact that they offer excellent payout rates from the get go, some video poker games can supposedly be turned into positive EV ones through optimal strategy. Blackjack works in a rather similar manner.
Players make certain choices which directly impact the outcome of a hand. It is a widely known fact that by learning basic blackjack strategy, a player can significantly diminish the house edge, and as a result of that, the house drop too. Through certain practices (card counting) blackjack can even be turned into a positive EV game for the player.
How can online casinos afford to offer such excellent payout rates on these games? After all, their objective is to make money while providing entertainment, not to entertain people by losing money. The answer is simple: if everyone played perfect optimal strategy at blackjack and Video Poker, the casino would hardly make any money on these games. Fortunately, 99% of customers have no idea about strategy or they don’t care to bother. That’s how the casino makes money on VP and BJ. Still other players prefer to head on over to the roulette table or to the keno one where the house edge is bigger.
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