What EXACTLY is a payout, why do casinos mention 97%

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    freddyvtown

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        freddyvtown

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        Hey Man  .

        I have seen lots of players being frustrated with 'payout percentages'.  This tactic is used by casinos to lure a player in.  But its not like they are lying.  Most casinos DO get some sort of 'audit'.  You need to understand how they use this figure.

        So why can't I cash-out, when the casino boasts 97.3% on slots and 98.1% on table games???!!!

        The answer is simple.  A payout is ANY return on a given spin, turn, roll, etc.  So let's say you spin $1.25 on a single slot spin.  The 97% doesn't mean you are going to get 97% of it back, nor does it mean you will get 97% of your bankroll. 

        What this means is that 97% of the time, the slots WILL payback 97%....This means that even if you only win $.25 off of that spin, you still are getting a "payout". 

        Same with table games, a payout is considered to be any return from a bet, no matter what the size of the return is...

        So when you see, 97% just means that you will get some sort of "payout" whether its $.05 or $25.  This means that 97% of the time, you will get something, not 97% of what you put into the machine or on the table.




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        genenco

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        What/which casino (Online) has ever claimed 97%???

        I (If I recall correctly) remember from the Casino 33 discussion, that the highest can be set was 85% payback.

        So who made that claim???
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        freddyvtown

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        Hey Man  .

        I used 97% as a general figure.  I didn't specify which casino made the claim, because there was none.  It was intended as an example, however, I know that there are land-based casinos that advertise this figure. 
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        genenco

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        freddyvtown wrote:

        Hey Man  .

        I used 97% as a general figure.  I didn't specify which casino made the claim, because there was none.  It was intended as an example, however, I know that there are land-based casinos that advertise this figure. 



        OK, Man I was DANG curious which online made that claim. I'd be there

        But regarding land based ones, yep have seen that and even some of the carousels which were advertising 99.5%-101% payback. But they are quite rare.

        Still, that's why I am taking a bit of a vacation from onlines. I get a 90% odds from the bars in Oregon and about a 94% at some of the indian casinos 90 min away.

        Now in conclusion (This is open to anyone who can tell me) Why can land based casinos offer 97+% paybacks and not onlines?

        Onlines have fewer employees
        (I don't know about tax structure)
        less maint cost.
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        Joseph Kennedy

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        Basically, you give a casino a dollar and they give you back 97 cents (at least that what they advertise).

        Actually, seeing the slots online, generally average between high sixties .65+ to the mid seventies .74 .75, .76

        Moreover, the casino's edge has to be large enough to pay off staff, utilities, comp meals/rooms, etc and a hefty profit for the owner/stockholders
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        freddyvtown

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        Hey Man  .

        Sorry, your explanation of a payout is not correct.  A payout percentage is ANY return on a bet.  So if you bet a dollar, and the payout is 90% it doesn't mean you get 90% back.  It means that 90% of the time it will "payout"  A payout can be $0.01 even if you spin $5.00 per spin, you are still getting a "payout"  It has no reflection on a percentage "back". 

        A payout can be $.50 or it can be $500....its all the same. a payout is a payout
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        Imagin.ation

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        lol i was thinking... if you get 97 cents on every dollar back that being 97% if you have spent 100 dollars that would be minus 30.00 making it .. 70%

        (being minus 3 cents on the dollar)
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        dabigdog

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        after several extremely poor sessions with casino titan  they sent me my play by play stats and i discussed them in detail with their support people....they stated that their 'PAYBACK percentage"  was in the mid ninties (96 i think)  The statement made by josephhkennedy above is how the percentage is figured ...based on how many cents you can expect back on each dollar wagered.  so you start with a dollar betting one penny a spin..then have 96 cents after a hundred spins and so on until you bust.  This statistic can help you to figure out how long you should be able to play and once it goes below 80....do the math...it is serious reverse ATM action.  freddy..how did you figure your formula?  maybe we should ask a REP to give us the details
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        genenco

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        dabigdog wrote:

        after several extremely poor sessions with casino titan  they sent me my play by play stats and i discussed them in detail with their support people....they stated that their 'PAYBACK percentage"  was in the mid ninties (96 i think)  The statement made by josephhkennedy above is how the percentage is figured ...based on how many cents you can expect back on each dollar wagered.  so you start with a dollar betting one penny a spin..then have 96 cents after a hundred spins and so on until you bust.  This statistic can help you to figure out how long you should be able to play and once it goes below 80....do the math...it is serious reverse ATM action.  freddy..how did you figure your formula?  maybe we should ask a REP to give us the details


        What did your play by play show as a "Payout total Percentage"?
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        jfrye1

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        Just for all wondering, I actually know the answer to this question!!!  The casinos claim 97% payback but if you read the fine print it is a RIP OFF.....For example, those who have been to Las Vegas have seen the row of 50 slots that say GUARANTEED 98% PAYBACK...Well, I fell for this and I did a little research seeing how I lost quicker then I did playing regular slots...The thing is they are guaranteeing 98% on usually ONE OR TWO slot machines out of the entire 50 plus....It is false advertising, so I take it that yea one or two slots out of the entire selection may be 98% but beware THIS DOES NOT MEAN ALL SLOTS...
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        Jocan16

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        If someone wants to do the research.. I believe a lot of the payout %'s are based on what is required in the gaming jurisdiction the casino is located in.. ie I think in order to be licensed in Nevada, you have to pay out around 89% of what you take in on slots.  The machines all have to be set up that way, though im not sure whether it is based on all of the machines combined or each machine.

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        dabigdog

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        genenco wrote:

        dabigdog wrote:

        after several extremely poor sessions with casino titan  they sent me my play by play stats and i discussed them in detail with their support people....they stated that their 'PAYBACK percentage"  was in the mid ninties (96 i think)  The statement made by josephhkennedy above is how the percentage is figured ...based on how many cents you can expect back on each dollar wagered.  so you start with a dollar betting one penny a spin..then have 96 cents after a hundred spins and so on until you bust.  This statistic can help you to figure out how long you should be able to play and once it goes below 80....do the math...it is serious reverse ATM action.  freddy..how did you figure your formula?  maybe we should ask a REP to give us the details


        What did your play by play show as a "Payout total Percentage"?
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        dabigdog

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        according to their records over many deposits it was 77 or 76 %.  the playthrough i experienced over the course of this ordeal was horrid.  Their support was great though...so i have been back several times since...only to experience the same short, short playthrough times and never winning.
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        dabigdog

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        prior to reading any of this thread, i was confident i knew what this percentage meant.....but..it seems there are many explanations of this magic number.  I am not so sure who is correct at this time.
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        wintermare

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        3dice will give you a % of their weekly slots(and two days previous), or your daily/monthly or even each slot you just played. Very transparent. I normally work out about 120% on the month if im under 100% i can ask for a free chip anytime no wr. so its quite good.

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