What Is The House Edge In Online Slot Games?
Players often talk about the house edge, and it’s necessary to understand what this is and how it plays a role in every game, including online casinos. In simple words, the house edge is the calculated benefit built into online slots and every other game. It varies from game to game and is termed a percentage value.
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What is a House Edge?
Suppose the house edge on a particular game is 5%, it means the casino pays back every player 95 cents for every single dollar bet on the game, keeping 5 cents for the house. It is an average house edge, the longer you play the more likely your average payouts over time will never exceed 95 cents for every dollar.
Yet another interesting feature of the house edge is that the ratio will keep fluctuating for different types of games and that a number of other features can also influence the edge in multiple ways.
What is RTP (Return To Player)
Return to Player (RTP) is a term that describes the percentage of the total amount of money wagered on a particular game that is paid back to players as winnings over time. In other words, if a game has an RTP of 95%, this means that for every $100 wagered on that game, players can expect to receive $95 in winnings over the long term.
In online slot games, RTP is an important factor to consider when choosing which games to play. Games with a higher RTP give players a better chance of winning over time, while games with a lower RTP give the house a larger edge and make it more difficult for players to win.
Different online casinos offer different RTP percentages for their slot games, so it’s important for players to do their research and choose a casino that offers games with a high RTP. Here are a few examples of RTP percentages found at some famous casinos in Canada:
| Casino Name | Slot Game Name | RTP % |
|---|---|---|
| Casino Niagara | Wheel of Fortune | 96.08% |
| River Rock Casino | Mega Moolah | 88.12% |
| Fallsview Casino Resort | Cleopatra | 95.02% |
| Caesars Windsor | Hot Shot Progressive | 94.05% |
It’s important to note that these RTP percentages are not set in stone, and can vary depending on a number of factors, such as the specific game version, the casino’s policies, and any bonuses or promotions that may be offered. Additionally, while a higher RTP percentage is generally a good thing for players, it’s not a guarantee of winning, as individual results can still vary widely due to the random nature of slot games.
Different House Edge for Different Games
A normal casino game like blackjack can have an edge of 0.5%. This could ideally be for a player who is prepared to use some basic strategy. On the other hand, for inexperienced players, this house edge could be closer to 2-3% because their inexperienced approach puts them at a further disadvantage.
In fact, games that require more skill and experience, like video poker and blackjack tend to have a much lower house edge. It is slot machine games that usually have the most disadvantageous house edge.
The House Edge in Online Slots
Online slots have huge jackpots slots and also a fairly high house edge. But the player of online slots can play quite rapidly. Under these circumstances, it would be relatively easy to lose money faster than playing at a table playing in a live casino.
It is easy to keep track of the payout situation with online casinos as it often publishes statistics showing the amounts they return to players on a monthly basis.
Variance
Variance in online slot games is a term that describes the degree of risk associated with a particular game. A high-variance slot game is one in which the payouts are larger but less frequent, while a low-variance slot game is one in which the payouts are smaller but more frequent. Understanding the variance of a game is important for players because it can help them to choose games that fit their playing style and risk tolerance.
Here are a few examples of high-variance and low-variance slot games:
| Slot Game Name | Variance Level |
|---|---|
| Book of Dead | High |
| Mega Moolah | High |
| Starburst | Low |
| Gonzo’s Quest | Low |
As you can see from the table, Book of Dead and Mega Moolah are examples of high-variance slot games, while Starburst and Gonzo’s Quest are examples of low-variance slot games.
In high-variance games, the payouts are larger but less frequent, which means that players may experience longer losing streaks before hitting a big win. This type of game is better suited for players who are willing to take on more risk in exchange for the chance to win a larger payout.
On the other hand, low-variance games offer smaller payouts but with greater frequency. This type of game is better suited for players who want to minimize their risk and enjoy more frequent wins, even if those wins are smaller.
It’s important to note that variance is just one factor to consider when choosing a slot game, and players should also take into account other factors such as the game’s RTP, theme, and bonus features when making their selection.
What is Random Number Generator?
Online slots work on a random number generator (RNG), which is a core computer ‘driving’ the game and displaying the symbols on different reels to stop entirely randomly. For instance, in a five-reel slot game which might have perhaps 35 stopping positions per reel, there are effectively 52,521,875 unique stop patterns that might appear.
This RNG mechanism also ensures there will always be fewer winning combinations and more losing combinations. If this were not the case, gambling houses would be at risk of being wiped out by a loss-making sequence of online jackpot slot winners.
Slot Games Vs Different House Edges
The house edge on slot games may differ from 2% to 10%, and video poker games could vary from 0.5% up to 5%. The house edge usually works out at between four and five per cent. But you may also find online slot games where the house edge is actually below those levels.
| Slot Game Name | House Edge (%) |
|---|---|
| Immortal Romance | 3.14 |
| Robin Hood: Shifting Riches | 3.2 |
| Guns’N Roses Slot | 3.02 |
| Jack Hammer | 3 |
| Esqueleto Explosivo | 2.4 |
| Devil’s Delight | 2.4 |
| Kings of Chicago | 2.2 |
| Blood Suckers | 2 |
| Jackpot 6000 | 1.14 |
| Jackpot 3×3 | 1.9 |
FAQ
1. What Is The House Edge In Online Slots For Canadian Players
A: The house edge is the mathematical advantage that a casino has over players in a particular game. In the case of slot games, the house edge is expressed as a percentage, and it represents the average amount of money that the casino expects to keep over the long run. For example, if a slot game has a house edge of 5%, it means that for every $100 that players wager on the game, the casino expects to keep $5.
2. Why do slot games have a house edge?
A: Slot games have a house edge because they are designed to be profitable for the casino. The odds of winning a slot game are always slightly lower than the odds of losing, which means that over time, players will inevitably lose more money than they win. The house edge ensures that the casino makes a profit, even if individual players occasionally get lucky and win big payouts.
3. How is the house edge calculated?
A: The house edge for a particular slot game is calculated using a complex mathematical formula that takes into account the game’s payout structure, the odds of winning each combination, and other factors. For players, it’s not necessary to understand the details of this formula, but it’s useful to know that the house edge is a fixed percentage that is based on the game’s underlying mechanics.
4. Does the house edge vary from game to game?
A: Yes, the house edge can vary significantly from game to game. Some slot games have a higher house edge than others, which means that they are less favourable for players. However, other slot games have a lower house edge, which means that players have a better chance of winning in the long run. It’s important to keep the house edge in mind when choosing which slot games to play, as it can have a significant impact on your overall results.
5. What is a good house edge for a slot game?
A good house edge for a slot game is one that is as low as possible. The lower the house edge, the better your chances of winning over the long run. However, it’s important to note that even slot games with a low house edge are still designed to be profitable for the casino, so there is no guarantee that you will win money by playing them.
6. How can I find out the house edge for a particular slot game?
The house edge for a particular slot game is usually listed in the game’s paytable or in the casino’s game information section. If you can’t find the house edge listed, you can contact the casino’s customer support team for more information. It’s always a good idea to know the house edge before you start playing a game, so you can make informed decisions about your betting strategy.
In conclusion, the house edge is an important concept to understand when playing online slot games. By knowing the house edge, you can make more informed decisions about which games to play and how much to bet, and you can increase your chances of winning over the long run.
Conclusion
In conclusion, understanding the concept of the house edge is crucial for anyone who enjoys playing online slot games. The house edge is the mathematical advantage that the casino has over players in a particular game, expressed as a percentage. It is designed to ensure that the casino makes a profit, even if individual players occasionally win big payouts.
While the house edge can vary significantly from game to game, players should aim to choose slot games with a lower house edge, as it increases their chances of winning over the long run. It’s also important to know the house edge before starting to play a game so that you can make informed decisions about your betting strategy.
By understanding the house edge and its implications, players can enjoy online slot games in a more informed and responsible manner, and increase their chances of having a positive experience while playing.