Does Statistical Knowledge Aid Players in Online Casino Games?
Online casino players today benefit from having access to huge volumes of statistical information when playing certain games, which some players heavily rely on.
Understanding statistics can benefit online casino players in many ways, although arming yourself with this information doesn't guarantee that you will win more.
For example, understanding certain stats can be the difference between choosing an online slot that's more likely to pay instead of one that's least likely to pay.
Let's dive straight in to discover why having a certain amount of statistical knowledge can aid players at online casinos to help them place strategic bets.
What does the RTP% mean in online slots?
If you love playing feature-rich online slots and are specifically looking for expertly recommended high paying options, then you need to keep an eye out for online slot machines with above-average RTP% payout rates.
Online slot machines are computer-generated and use sophisticated mathematical algorithm programs and Random Number Generators (RNGs) to produce the outcomes we see with no discernible pattern, unlike live dealer casino games, which don't rely on RNGs to produce the outcomes.
Also, an online slot machine's Return to Player percentage payout rate (RTP%) tells us how much that game has paid back in winnings over a certain period (usually four to six weeks).
This statistical information is calculated by independent, internationally accredited, third-party online casino testing agencies to ensure players are treated fairly and that the outcomes are as fair and realistic as possible.
For example, if players spend $/€/£150,000 on an online slot machine in a four-week period, and in that time, those same people receive back, on average, $/€/£145,320 in winnings, this information clearly tells us that for the period under review, that game had a 96.88% RTP payout rate.
The remaining $/€/£4,680 (or 3.12%) spent on that game during that same period is collected as revenue by the casino. Using stats like this helps some players choose only online slots with an 'above-average' RTP% payout rate (which is considered to be around 93.00% to 98.00%).
Although it's an excellent strategy, savvy online casino players who avoid playing slots with a 91.00% to 93.00% (or lower) RTP% payout rate and only ever play slots with a 98.00% or higher average RTP% payout rate are still not guaranteed to win more.
However, mathematically speaking, they are more likely to win on slots with high RTP rates.
Can understanding stats help me win more at online casinos?
Understanding stats can potentially help you lose fewer hands, rounds, or spins, but don't forget that it will not guarantee you will win more. Some players swear by getting as much statistical information on a game as possible; others never even bother looking at it.
For example, if you launch a game of live dealer roulette from an award-winning provider like Evolution Gaming, Playtech or Pragmatic Play at a fully licensed and regulated online casino, you can find a whole array of stats by clicking or tapping on the 'stats' button.
If you understand percentages, you will love this feature, and it will help you place more strategic bets. You can use this information to find out which numbers are hot (more likely to occur), cold (least likely to occur), and which sections might be worth betting on based on the statistics from previous rounds.
You can also see charts of where the balls have been landing, so if you prefer charts instead of percentages, remember to refer to the charts section instead. Understanding each outcome's odds and implied probability rate is also important, especially in games like roulette.
For example, understanding the difference between a red/black bet that pays 1:1 and a straight-up bet that pays 35:1 can help you place more informed bets and help you hold onto your money for longer periods.
It can make you a more responsible gambler whether you are playing older casino games or brand-new games.
Final thoughts
As you can see, stats can help players make better decisions, but it's not a foolproof plan that will make you an overnight millionaire. Instead, consider using as many stats as possible next time you play your favourite online casino games to see if it works for you.