From Wagering Requirements to RTP: Key Terms Every Ontario Casino Player Should Know Explained by CasinoRIX

Going into casino gaming without understanding the meaning of specific crucial industry terms is like going to a battlefield without armor. It’s simple – you may get crushed!

Without proper knowledge of certain industry terms, your gameplay is flawed from the start. Consequently, you’ll make decisions that’ll cost you. This post breaks down some of the most essential terms you should know.


Wagering Requirements

Some of the trusted online casinos for Ontario players offer different promotions and bonuses for new users. These could include cash bonuses, free bets, no-deposit bonuses, and free spins. However, these offers often come with conditions, which are generally known as wagering requirements.

These requirements affect your cash bonuses and withdrawals because you have to bet via a specific multiplier before withdrawing your winnings. For instance, if you have a cash casino bonus with a wagering requirement of 50x you’ll have to bet your bonus amount fifty times over before you can withdraw your winnings.


House Edge

House edge refers to the advantage that casinos have over players for a given game. In other words, it’s the difference between the payout odds offered by the casino and your winning odds. This element is what makes casinos profit in the long term.

For example, if a game has a payout rate or RTP of 97%, the house edge is 3%. Games with a lower house edge offer a higher winning chance for players. Casino games that offer some of the lowest house edges include Craps, Blackjack, and Baccarat. 

On the other hand, games like Keno, Sic Bo, and Bonus Six (with insurance) have rather high house edges. As such, players’ winning chances are lower with these game types.


Return to Player (RTP)

Return to player refers to the percentage of all wagered amounts that a game is expected to pay players over time. The exact figure varies across different casinos. 

While house edge refers to the percentage of every wagered amount that the casino receives, RTP is the percentage of every wagered amount that returns to players over time.

For instance, if a gaming machine displays a 95% RTP, you should expect to win an average of 95 dollars for every 100 dollars you stake during a playing session. RTP also helps you assess how fair a game is and how much value it offers.


Variance

Anyone who’s ever played casino games must have experienced the high and low swings of luck. This experience is what’s referred to as variance or volatility in the casino world.

Casino games have different variance levels, which affect the payout sizes and winning chances. High variance games are riskier, while low variance are less risky. Essentially, assessing a game’s variance can tell you whether there’s a good chance of winning and how much risk is involved. 


Bankroll Management

Bankroll management refers to how you allocate money for your gambling activities. It’s about managing your funds so you won’t become financially unstable even when you lose. 

It’s a measure taken to minimize your losses and guide gambling decisions. Some tips for effective bankroll management include:

  • Assess your overall financial standing, including income, expenditure, and savings
  • Only bet what you can afford to lose
  • After establishing your budget for gambling activities, stick to it strictly
  • Avoid chasing losses, as it can cause emotional turmoil and increase your losses

 

Bonus Terms and Conditions

Casinos offer various bonuses to both new and existing users. However, these bonuses often come with certain terms and conditions you must meet before accessing them. 

Many users end up disappointed after supposedly winning a bet with a given bonus, only to realize that they can’t withdraw their winnings because they haven’t fulfilled all the terms and conditions associated with the bonus.

Bonuses like free spins, cashback, and deposit bonuses may come with different criteria. For instance, they may be reserved for new players only. Sometimes, they apply to only one of the slot and table games. Whichever the case, you should take your time to read a platform’s bonus terms and conditions to avoid any disappointment along the way.


Conclusion

 

Casino games have truly evolved over the years, with several terms to catch up on. Whether you’re a new or veteran casino gamer, understanding these terms can help you take your gambling activities up another notch. Finally, while it’s vital to understand these industry terms, it’s equally important to always gamble responsibly.