Unlike games like poker or blackjack, slots do not allow for many strategies when it comes to gambling. Each spin is entirely dependent on luck or a random number generator in this case, with not much we can do to control the outcome. The odds of winning the jackpot on an online slot machine vary from casino to casino and even within the same casino with different denominations of games and other features that influence the winnings offered by the machine.
The odds of winning in slots are expressed in the percentage of return on bets to the player or RTP, as mentioned above. The win percentage represents the amount of the money wagered that the player can get back by winning, ideally it would be at least 100%, but if so the casinos would not make any profit, as this number gets smaller and further away from 100 % is harder to win.
In most online slot games this percentage is somewhere between 95% and 100%, which may seem like an insignificant number at first, but this changes when you consider the difference it can make over a long gaming session.
As for the jackpots, they can increase the winning percentage considerably and easily exceed 100% of the amount invested in bets, especially if we are talking about a progressive jackpot that has accumulated a large amount.
How RTP works
The first thing we should know is that the RTP is an estimate of the money that we could recover and it is the difference that exists in relation to the house advantage in slot games. Calculating the RTP is quite simple, you just have to divide the amount won from the machine by the amount bet by the players.
However, we must not confuse the RTP with the frequency of spins won. That is, a slot with frequent but smaller wins can have the same RTP as one with more scattered but more substantial wins.
According to the RTP the slot machines can be:
- Low value (RTP between 90% and 93.99%)
- Of average value (RTP between 94% and 95%)
- High value (RTP between 95.1% and 99%)
The chances of winning on a low RTP slot are lower, but the prizes are usually considerably higher. The medium RTP ones offer slightly smaller but more frequent wins, while the high RTP ones offer a higher chance of hitting a spin and the payouts tend to be lower.
ARE JACKPOT SLOTS BETTER THAN STANDARD SLOTS?
It depends on your playstyle and preference. Standard slots offer you a higher chance of winning back the amount you wager, albeit in smaller wins, but jackpot slots can offer you much bigger prizes and are more exciting. If you like a challenge and aren’t afraid to risk a little more money, then jackpot slots are for you.