A study conducted in the United Kingdom has found that people are misunderstanding and interpreting RTP data. This is a figure that represents the chances of winning on a slot game.
The University of Nottingham School of Psychology in the United Kingdom has found a discrepancy regarding the information on slot machines. It studied six thousand players and looked at the regulatory information on the games they played. Adding a return to player rating, also known as RTP, was known to universally increase the perceived chance of winning on slot machines, when compared to those that had no messages at all.
Changing Slot Game Ratings
Slot games are not just becoming popular in the United Kingdom and Europe, but around the world. These slots are very different from the traditional bar and fruit symbol machines of old. Played on browsers and in apps, they have exciting mechanics and themes, coupled with crisp graphics and animations. Providers like Jackpotcity Casino carry a whole range, from easy beginner reels to complex systems. With welcome bonuses attracting new players, operators like this have helped swell the industry to eighty-five million active players around the globe.
The return to player rating is designed to add transparency and is one measure that must be implemented according to the United Kingdom Gambling Commission. It states that operators must disclose a payout rating, though they can choose to do this using whatever method they wish.
Return to Player Ratings and House Edge
Return to player ratings are the most common method of displaying slot machine payouts. They are expressed as a percentage, usually above 90%. It is a probable amount that will be returned to a player if they play for a long period of time. Imagine tossing a coin; you may get heads twice, five, or even ten times in a row. Do it one hundred times, and you would expect a 50/50 ratio.
This is how RTP ratings work. Imagine you play a game with a 97% RTP. You wager $100 over one hundred spins, betting $1 each time. You can expect to get $97 back, with the rest given to the house.
House edge is also used, but this is the amount the house takes. So, if you play a game with a house edge of 3%, it would be the same concept. The house would win 3% of your wager, and you would claim the other 97% as a player.
All of this is very different to volatility, which you may also hear mentioned. Volatility is a measure of how often a game pays out. Low volatility games will pay out small amounts more frequently. High volatility games will not pay out as frequently, but their wins will be bigger and usually more explosive.
An example would be a game with a 97% RTP. Imagine you play the same wagers mentioned above, for one hundred games at $1 per spin. In the low volatility game, your $97 return would come in low amounts quite often, perhaps with wins of $3 and $5. Yet a high volatility game would see fewer payouts, but bigger, with amounts like $30, $50 and so on.
Comparative Studies of House Edge and RTP
The study showed players a range of messages, from two house edge methods, a return to player rating and no method at all. They were then asked to gauge their perceived chances of winning on each one. This showed that house edge messages were no better than the slot machines that had no information.
When it came to return to player ratings, most slot machine enthusiasts believed it displayed the chance they had of winning. So, games with 90% suggested they had a 90% chance of winning money. The University added that while ratings are factually accurate and designed to increase transparency for players, they are quite ambiguous. They suggested that these ratings and the reasoning behind them needed to be made much clearer.
Finding the RTP or house edge on a casino slot game is usually quite easy. Log in to your online casino of choice, such as Jackpotcity Casino, then head to the help section. It may also be under an information tab. There should be a section informing you of the RTP for the game, which will be accurate.
You can also look them up online. The only difference is that review sites may differ. Some games may seem identical, but have different RTP ratings depending on the region you are playing in. This is due to laws in differing areas. The game developers' own website is usually the best place outside the casino to get accurate information.
Information such as this is vital for evolving regulations. In countries just developing their iGaming frameworks, it is key and should be taken into consideration. This also helps players better understand their games, providing more transparency for slot players and operators alike.