One of the biggest concerns that online gamblers share is that they’re unsure of the probability of actually winning in an online casino. There’s an element of trust that is wavering with online gambling, with many users questioning how well regulated these sites are and whether top prizes are actually achievable;.
The following article explores the odds of winning in online casinos through considering their fairness, whether they could be rigged, what to look out for when determining if a site is legitimate and how often big jackpots are actually won. From paskahousu to poker, what are your odds of a win?
Are marketing techniques warning signs of low payouts?
The ultimate goal of gambling sites is to make money, whether that be through gambler’s deposits, commission or advertising. Whatever the primary income source is, online casinos can only be financially successful if customers are engaged enough to return and pay to play. Of course, any online gambler will know, online casinos hook players in with attractive introduction offers, deposit matches, free spins and a host of other incentives, all of which are designed to gain customer loyalty.
Be aware that many seemingly generous sign-up offers or deposit incentives will come with a number of terms and conditions. The online casino will not be in the habit of giving money away lightly – they’re a business and they need to be profitable. Look out for wagering requirements, caps on payouts, maximum bet values and cash-out terms – all of which can significantly limit the ‘winnings’ you accrue from offers from the casino.
Now, these marketing ploys and incentives are no bad thing – as long as players remain in control of what they deposit and their gambling habits. In fact, although these tempting offers might feel as though they must come with a catch, it actually isn’t in the best interests of any online casino to let their members feel insecure or uncertain about player terms. Only players who feel safe and enjoy their experience will return and so online casinos should have a sound enough mind to provide a platform that is honest, secure, fun and customer-focused.
That said, the money-making needs of online casinos may feel like a conflict of interest when compared to the safety of consumers. There’s little evidence to back up either theory, but there are simple ways to to gain an understanding of the odds of winning.
Fractional Odds
Fractional odds are odds that are presented in the form of a fraction – 6/2, 9/1, 4/3 etc. P{laying online casino games with fractional odds is an easy way to identify your chances of winning. Here’s how it works: If you wager on the second number in the fraction, when the first number wins, you up your money, So, for example, with a 9/1 bet, if you gambled £1 and you won, you’d receive £9 in return.
How to get Percentage Odds
It’s relatively simple to work out the percentage odds of winning in an online casino, if you have the fractional odds. The calculation to convert fractional odds to percentages is: B/(A+B) The calculation looks more complex than it is, but broken down, it goes like this:
Assume the fractional odd is 9/1
A = 9
B = 1
B/(A+B) = 1/(9+1)
= 0.09
Multiply this by 100% to achieve the percentage odds. In this case, 0.09 x 100 = 9. Therefore, in a 9/1 fractional odds, the percentage equivalent is 9%.
Online Slot Machines
Somewhat surprisingly, online slot machines often come with high odds of winning. The attractive themes, flashing lights and exciting sound effects may seem like they’re geared up to make it more difficult for players to step away, but online slots usually have high payout ratios. That said, slot machines are designed to make online casinos money and so there is an art to knowing when to walk away from this type of gambling. Sure, you’re likely to win often, but not necessarily big and whilst you’re depositing money because you feel like you’re on a lucky streak, the casino is profiting nicely!
To know what your chances of winning on online slots is, you’ll need to check the volatility of the game you’re playing. Higher volatility games will have less frequent but larger payouts. Lower volatility games will have smaller payouts but they will occur more frequently. In order to make money in an online casino, experts recommend playing ‘the long game’ – choose lower volatility games and play a set strategy over a longer period. Your wins aren’t likely to be earth-shattering jackpots, but slowly and surely, you’ll be able to build up a winning pot.
In summary, to fully benefit from better odds in an online casino, it’s important to understand the individual games’ strategy, to play often and to know your own limits. A part of winning atg an online casino is relative and depends on your personal ambitions. If you’re there to enjoy the game and hope for small profits, your odds of winning in an online casino are much higher than those of a player who is aiming for the highest jackpot.
The best practice is to manage your own bankroll closely – set your own deposit limits, decide when you want to cash-out and don’t be sucked in to marketing ploys to keep you playing when the odds have left your favour.
For anyone needing more information on staying safe with online gambling or for advice on how best to control online gambling habits, Be Gamble Aware or GamBan can help.
