Learning Online Casino Betting Terminologies

 

Words We See but Don’t Know the Meaning of

We will focus on the terminologies you can typically find in Malaysia’s online casinos.

 

1) Payout Percentage

• A payout percentage is the average amount of money that a player will receive in the form of winnings, compared to the amount a player has wagered.
• The payout percentage cannot guarantee how much money a player can win in one session, but the general rule of thumb in any online gambling games is that the more spins we make, the better chances we have for our results to be closer to the payout percentage.
• As an example, a payout percentage of 90% will return an average of RM 90 for every RM 100 worth of bet placed.

 

2) Gambler’s Fallacy

• Gambler’s fallacy is the mistaken belief that the outcome of an event is influenced by previous outcomes.
• This terminology is also known as Monte Carlo fallacy.
• A standard example of a gambler’s fallacy is a coin toss.
• Imagine a toss of a coin. With no other way to alter the result, the outcome of the coin toss is completely random, either a heads or a tails. But many players have the misconception that, if a coin lands on tails five times in a row, it is more probable to land on heads on the next toss.
• This belief is obsolete and erroneous because the probability of each outcome is exactly 50%, no matter what outcome has happened previously.

 

3) Payout Table

• A payout table shows the relevant pay-out for each bet on table games a player can receive.

 

4) Free Spin

• A free spin is typically found in slot games, and it is offered as a bonus. It allows you to spin the reels of any slot games without meddling with your own money. Anything you win from a free spin is given to you either in the form of bonus money or regular cash.
• A free spin helps boost your profit/account balance, lets you explore new slot games, and provides a risk-free slot gaming opportunity.
• Certain online games impose a wagering requirement for a free spin bonus.

 

5) House Edge

• Online casinos don’t make money when players are losing bets from playing live casino games or sports betting. Instead, all online casinos profit from a built-in advantage called the house edge, which works to the casino’s favor.
• A house edge informs you how much each game pays out on average, and which games offer the best returns on their bets.
• Players can use the house edge as a guide to know which games give the most profit. This can come in handy for the players if they want to make a comparison when playing in a live casino.
• From the online gambling business point of view, higher house edge means lesser payout on average over time.

 

6) Wagering Requirement

• A wagering requirement is the number of times a player must play the bonus money before the player is allowed to make a withdrawal.
• If you don’t meet these wagering requirements, you won’t be able to withdraw your bonus money.
• Here’s an example of a wagering requirement from an online casino: You are given RM 60 casino bonus when you deposit RM 20 with a 5x wagering requirement. To meet the wagering requirement, you need to wager a total of RM 400 ([deposit + casino bonus] x wagering requirement).
• If you manage to make some winnings, it will be stored in a pending balance until you meet the wagering requirement. Keep in mind you won’t get to withdraw any cash from your pending balance.
• Any online casino website that you sign up at will impose a wagering requirement. This is because, without it, a player can merely claim massive bonus money and withdraw it. With a wagering requirement, it becomes compulsory for players to spend the bonus money, which gives something to the online casino in return.

 

7) Random Number Generator (RNG)

• A random number generator is an application that generates random and non-bias sequences of symbols and numbers. Many of the online games we play use RNG to produce the result we either sigh with relief or of despair.
• For instance, online slot games use RNG to produce a random sequence of symbols. A video poker machine uses RNG to determine which cards are dealt with. The use of a random number generator is crucial to create a fair and just outcome.
• A reputable casino usually undergoes services and testing evaluations conducted by an independent third-party, some of which are random number generator (RNG) evaluation, game and mathematics evaluations, game payout verification, poker system audits, penetration testing, full security audits, and sportsbook, or betting exchange evaluations.
• A trusted casino will receive a badge and certificate that states their games are fair, which means the results the RNG produce are random and not rigged. This also means players get to enjoy online games that are not influenced by variables like the number of credits in play, the size of the pay-off, and so on.

 

New terms will appear as time goes. The terminologies that we learn today will become a glossary that grows continuously. Picking up as many online casino Malaysia terminologies may not be the best method to turn yourself into a sure-winner overnight. But, with the knowledge you have now, it is sufficient to assist you in hacking some of your bets and contribute to your winnings. There is no longer the need to put on a brave face, scratch your head in confusion, and bet in agitation. Now, your gaming experience will change for the better as you can get the most out of each bet you made.

 

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