Are online casinos rigged?
Well the answer to this question depends on whether or not you believe having a business plan is being rigged or not? The whole idea of online casino’s is to take in a little and pay out the rest back. Slot payout percentages for example, you can find them on every casino you play a slot on, that determines how much of what they take in, they pay back out.
A Casino business plan, on a fundamental scale works out something like this. They take in say $50,000 in one hour of public playing. If they have a slot percentage payout of 95% (which some do, and higher) it means that 95% of what they took in they will give back. Perhaps not to you, but someone else playing at the time. So, the Casino profit will be 5% and 90% goes back to the players. In terms of $50,000, 5% of that would be $2500 – and that would be the casino takings for that hour. $47,500 will go back to the public.
Generally, when you play at a Casino then you will win something whilst you’re playing. It’s called the bait and hook. If you don’t win anything then you’re less likely to put more money in, but if you are winning little bits constantly then you’re more likely to keep playing for the big score – if it happens. If you don’t, then it’s one of two things. You’ve put in too little for a payout, maybe you’ve only put in $1 and each turn is 50c. Or, whatever you’re playing is on a collection cycle.
A collection cycle happens when you’ve been unfortunate enough to play at a spot where there’s just been a large payout. When that happens then the casino needs to fill up again, and unfortunately I’ve seen myself put up to $50 in something without winning anything – and that’s when you know to drop it and move onto something else.
But that’s not to say that online casinos aren’t rigged. Some are. Like everywhere in the high risk industry there’s always going to be people trying to part you from your money in shady ways. And it’s not as if it’s easy to spot scams and fakes like it once was. Scammers have advanced just as technology has, and they can make a pretty realistic looking casino site in no time at all, and you won’t know the difference with a quick look.
But there are ways to tell. For instance, you can check their domain age. Casinos that have been around for a long time generally tend to be legitimate. It doesn’t take long for people to start complaining about not winning or receiving their money before everyone stops playing. So generally, scams tend to be put up in a few weeks and are gone in the same time frame.
Another good tactic is to check their social media. If there’s a lot of unhappy people on their social media then that’s a good sign. Or if they’ve only been set up for a few weeks. That’s a good sign also. All in all you have to do your due diligence.