Some may say that online casinos are a scam but if you look to casino news, you’ll see that people have won at online slots quite often.
There are a variety of payouts that are available on each game. Top quality online slots are tested for their randomness in paying out. This ensures that they do in fact payout and real money wins are as frequent as at a land-based casino.
Reputable Online Casinos
If you’re looking to play for real money, you’ll want to find legitimate online casinos. They adhere to strict guidelines and offer transparency on the odds of winning at online slots they provide.
It’s easy to find out if an online casino is legit by going to the footer of any page, like on this website. You’ll see licensing information like who owns the company and who they’re licensed by. Common authorities include the Malta Gaming Authority, Curacao Gaming Commission, and the UK Gambling Commission.
Game fairness is important and there is a process to ensure that these slots do pay out fairly. While most of the land-based slots don’t have transparency with the fairness of a game, online slots do. Regulated, licenses online slots have audits and security checks regularly to maintain their reputation. The third-party auditors like eCogra evaluate and calculate the payout percentage based on millions of spins. So, the payout percentages displayed are actual and not just a general estimate.
Online Slots and RTP%
Every game has something called a return to player percentage (RTP). You can read more about it in the UK Gambling Commission website. When you sign up at a casino and click on the slot you want to play, they will let you know what this payout percentage is. It can usually be found by clicking on the “i” for information. If you don’t see the information, you can easily do an online search and that information will come up.
An RTP of 90% indicates that you’ll win $90 back from every $100 you wager. This is based on long term play. Some online slots start with 85% while the average slot is 96% with some going as high as 99%. Online slots usually have a higher payout percentage than land-based casinos do. This is because it costs less to operate than a land-based casino would. So ultimately, you have more chances of winning at online slots.
Payouts on Your Wins and Withdrawing
When you are playing online slots and you win real money, you can withdraw it from the casino right away. How long your money goes back into your account will depend on what payment method you chose and how long the casino takes to approve your withdrawal request. There is usually a minimum withdrawal of $10-$30 but it wouldn’t make sense to withdraw such small amounts anyway.
Winning Real Money Without Wagering for Real Money
In some instances, you can win real money at online slots without investing any money. No deposit bonuses are usually available to you as a welcome bonus and are often free spins. Free spins on online slots allow you to spin the reels on specific games the casino chooses and cost you nothing.
Often though, there are strings attached and you’ll have to meet a wagering requirement. The no deposit bonus is 100% free and you don’t have to deposit to get it. If you win any money during the free spins, it’s yours. These are often quite rare so if you have the opportunity, take them as you literally have nothing to lose.
How to Win Money with Online Slots
While online slots are totally random, there are a few ways you can maximize winning opportunities. First, you’ll want to look at the RTP percentages for games. The higher they are, the more likely you are to win. The volatility/variance is also a factor, referring to the combination of:
- Frequency of payouts
- Amount paid out
- Level of risk
The figures associated with these factors give you an even better idea of how well you’ll do at any given online slot game. If your budget is small, you’ll want a slot game that has less risks so you’ll be looking for low volatility. You won’t win as much money but you won’t lose as much either. Wins will be small but frequent.
If you want to take higher risks and have more money to wager, medium to high volatility can have much higher payouts. You may see a lot of progressive jackpots with high volatility. Your wins may be less frequent but payouts can be in the millions if luck is on your side.
Online casino experts suggest that if you want to maximize your winning opportunities, you should bet the max on the game. This is usually easy to do. Just look for the “Max Bet” button. We only suggest you do this if you have the money to do so.
If you do and the right symbols land on the right reels, you could be spring boarded into the bonus game with the maximum amount of winnings given. Winning at online slots is entirely possible. The best way to do it is to stick with one game and get in on long term play.