There is no denying the popularity of online gambling in Canada, with more state-sanctioned and private casino sites operating than ever before. If you are new to this world, you may be wondering about the mechanics behind these sites – not to mention the special terminology that is thrown around.
You may be curious why traditional land casinos are no match for the highest payout online casino or want to know about the best casino payouts in history. You may also be sceptical about just how fair the sites are. To answer all this and more, we have put together this very brief guide to everything you need to know about online casinos and how they work.
Are gambling sites fair?
One of the number one misconception about casino sites is that the games are somehow rigged in the casino’s favour. This is not true by any means, so long as players find themselves at a reputable operator. If you are not sure, a quick look at the casino license should tell you if the site is a legitimate one.
All the virtual games at a gambling site are controlled by an algorithm known as a random number generator (RNG). The RNG imitates the conditions found in a land casino or a mechanical slot machine, ensuring that the outcomes of each spin or hand are entirely down to chance. All licensed casinos must submit to independent auditing to ensure that the RNG is operating correctly.
Why do players prefer online casinos?
Apart from the obvious advantages of convenience and easy access, there are a couple of other reasons why many prefer online casinos to their land-based counterparts. The first is choice – at a gambling site, there are hundreds if not thousands of gaming options. Players these days can even get an authentic slice of casino action with live-streamed games featuring real dealers.
Another advantage of these sites is low overheads, which means that online operators can offer bigger bonuses and jackpots. Some of the biggest payouts in history have been online, with one lucky player in Finland bagging over $20 million from a single 25 cent bet.
Understanding casino terminology
Anyone reading about casinos will encounter quite a few unfamiliar terms. As this is a quick guide, we will cover only the most common ones here. The RNG has already been explained above, so let’s dive in with a few more.
RTP – this stands for the return-to-player rate of a game, and it is presented as a percentage. It gives the estimated chance that a player has of winning over time in a certain game. As an example, a slot game with an RTP of 98% should return $98 for every $100 wagered. In reality, players can obviously win or lose more than this, so the RTP is only theoretical.
House edge – this is like the RTP, but in reverse. An RTP of 98% is the same as a house edge of 2%, indicating the casino’s chance of winning over time.
Volatility – also known as variance, this is an indicator of the size and frequency of payouts. Low volatility games pay out fairly frequently, but with smaller wins each time. High volatility games, on the other hand, have bigger jackpots less often.
There is plenty more to know about gambling sites, but these basics should be a good starting point. Remember that all casino games are just for fun and should never be considered as a money-making venture. At the end of the day, the old saying holds true – the house always wins.