Casinos profit on slots

[David1977]

Hi all,

I really wonder what the casinos profits are on slots..

For example, if a slot claims to have a RTP of 96 precent.

Does that really mean (over a longer period) that when 100 euro bets is placed they earn 4 euro, 1000 euro only 40 euro, 10000 just 400 euro and 100000, just 4000?

How can they pay their staff with that? and all the other costs? Maybe the big casinos where lots of people play, but with casinos opening every day? I just cant understand..

There has to be something about rng/rtp that I do not understand.

 

[ISLOT]

The RTP does not really matter much here, what matters is when players choose to cash out.

A player can have excellent RTP during a session but simply keep playing under the impression that they can win more, this usually ends in a bust and thus gives the casino their profits. Factor in the idea that a lot of high rollers employ this method of play, and suddenly casinos are profiting wildly off these players.

If all players were to cash out the moment they reach even the slightest amount of profit, however, then it would indeed not be very profitable for the casino. They make their money off of greed and addiction, basically.

 

[NSKOwen]

1. RTP is only applicable on winnings. Using your example, if a slot player wins, 4% will go to the casino, and 96% will go to the player. If the player loses, 100% of the loss will go to the casino. Since the chance of winning is lower than losing your bet, then the casino has a higher chance to profit out of players.
2. Some casinos have minimum withdrawal amount. If your winnings haven't reached that amount, you can't withdraw it yet so the casino can still use that fund up until you reach the required withdrawal amount.