There have always been urban myths surrounding casino play; rumours of inside knowledge and tricks that casino players can use to increase their chances of winning or avoid sure losses. As boring as it may seem the facts are that in the modern age casinos, both online and offline, are heavily regulated. The odds are set by the casinos in line with the framework laid out by the regulators and all casinos are carefully monitored to make sure they stick to the rules. There are of course ways to play that give you the best chance of the odds falling in your favour and ways to stack the odds against yourself but at the end of the day the odds are the odds and myths of sure fire strategies to win or that casinos manipulate results are baseless. Let’s take a look at some of the most widespread myths surrounding casinos.
Myth: casino sites favour certain players and let them win jackpots.
Fact: slot games are programmed to pay out a certain percentage of all takings and the odds of the winning combinations coming up for a player are based on statistical chance. As regulators have access to all games on an online casino it is impossible for the casino to interfere with the random generation of the symbols.
Myth: casino sites change the amount of money that is paid out to players, increasing and decreasing winnings according to their interests.
Fact: the percentage of total takings paid out must by law be clearly stated in the terms and conditions of a particular slot game. While that percentage can be changed by casinos it must be stated in the game’s description so players are always aware of the percentage retained by the casino. It is in the interest of the casino to offer the most attractive pay-out percentages, which on the best slots can reach up to 98% of money paid into the game. The complex statistical models used to set winning combinations ensure that over the long-term pay-out percentages cannot vary from those set. While over any particular period of time pay-outs can of course vary significantly but over enough spins of the reels that percentage will always eventually return to the mean.
Myths: slot machines have cycles of pay-outs.
Fact: anyone who has ever been around slot players will be familiar with them making statements such as a particular game is ‘ready to pay out’. This is based on the myth that pay-outs adhere to particular cycles based on the amount of money paid in and the time since the last pay-out. The fact is that this is just not true and any one spin is as likely or unlikely to yield a pay-out as the previous, regardless of the frequency or infrequency of recent pay-outs.