What are the odds given in online casinos?
Land-based casinos look like they give out great odds, but that’s nothing when virtual casinos are brought into the fold. Virtual casinos actually pay out higher odds than these casinos by a good few percent. What players have to remember though is that a casino is there to make money. To start making money they have to cover their operating costs, as the number one priority. Land-based casinos have to pay for the upkeep of their buildings, their employees, as well as paying all of the corporate taxes that come with running a casino in a place like the USA. Online casinos are different because the large majority are situated in countries where taxes barely cause a ripple amongst their profits. Fewer employees are needed to maintain the online casino and there are no brick and mortar buildings to pay for. Generally they get more business as they can target a worldwide market. Combine these things together and players can find themselves with much higher payouts; usually amounting to an additional 2%.
The true odds of a casino are often shrouded from most players as they only begin to make an impact in the long term. An occasional player who loses most of their hands will see that the odds seem to be very low as they are not making much of their money back with their few winning hands. The long term player will have seen the ups and downs of the gambling game and will thus be able to see that the true odds are actually higher than an offline casino.
The true odds are seen to be higher because online casinos need these odds to survive. Online gambling is one of the most competitive industries in the world and thus they have to raise their odds to stay in business. That’s why the true odds of an online casino are higher than anywhere else in the world of gambling.
Taking the Odds
Taking advantage of the odds and winning big is incredibly difficult. Mathematics dictates that the casino will always come out on top in the end because the casino games are weighted slightly in the casinos favour. Playing for fun is the best idea because making money for the large majority of players is impossible. Take the payout percentage for most casinos. The highest payout percentage is going to be about 98%, although it can descend to figures as low as 95%. If players were to play for a year as a full-time job they would eventually lose money because they would find that for every $100 they put into the game they are only getting $98 back.
Bonuses and constant switching of casinos is how professional players make up for this discrepancy, and that’s how they are able to make large profits. But this takes time and effort, and it falls to a game of trial and error, most of the time.
Ensuring the Odds
The odds are guaranteed by reputable casinos as they are constantly audited to make sure that their odds are fair and that they are not changing to put gamblers at a further disadvantage. Audits are generally conducted by large and well-known accounting firms. To find the current odds for a certain casino just look at their home page. If they are not there then there’s usually a page that’s dedicated to the odds within the casino.