RTP is a term you may have already seen when reading about a slot or game online, the RTP refers to the overall percentage that will be returned to the player over a given amount of time.
HOW DOES IT WORK?
When you look through the information on a slot you will see that the RTP is given, let's say for example this is 97%. This means that theoretically if you was to play £100 worth of credits through that slot, you would receive £97 back in winnings.
Now of course we know that isn't the case at all and it would make playing slots pointless if you was going to lose every time you chose to play, in reality if you played £100 through the slot you could receive a minimal amount back such as £20 ( 20% RTP ) or you could receive £500 ( 500% RTP ).
But over the life time of the slot you are playing, the RTP will be very close to the displayed percentage that is stated on the information for that given game. This is achieved over hundreds of thousands of spins.
DOES RTP REALLY MATTER?
It's always going to favour you if the slot you are playing has a higher RTP, but other factors come in to play such as the level of volatility that the particular slot you are on is classed as. If you are playing a low volatile slot you can expect to see smaller wins more often, this kind of slot could pay a lot closer to the given RTP over your short amount of spins.
Higher volatile slots can pay a lot less frequently so over your short playing period you could fall well under the stated RTP, on the flip side if you hit the slot at the right time you could land a huge win and end up massively over the RTP for that given slot.
MY THOUGHTS ON SLOTS RTP
I've had plenty of first hand experience with RTP on slots in land based gambling premises, and I've often wondered how the software developers roll these games out to the online casinos. When new games were added to a machine in the places I've worked or if a brand new machine came in, the games would all be set to zero and the RTP would need to level itself out over a period of spins. This was on average around 60,000 spins per game.
The problem with this was that sometimes the games could overpay massively to begin with, and the RTP could be around 200%, of course over time this would level itself out, but if you had 4 or 5 games all doing this then you could and I've seen it happen many times, be paying out a small fortune.
Now I just don't see the online casinos being prepared to take this risk, and would imagine that when the games go live for customers to play online, the RTP would already be where it should be and the amount of spins that are needed to get it there would have already been played through somehow.
This of course can work the other way and the games can be extremely tight, and run well under their RTP until they hit the threshold of spins needed to level it out, this of course wouldn't be a problem but in the build up to reaching its correct level a barrage of big wins could come in quick succession.
RTP is important and does matter, because games need to be monitored to make sure they are paying the amounts they are advertised at, but the reality is that over the 1000s and 1000s of spins it takes to average this percentage out, each spin that we play is just a part of that cycle and can give as little or as much as it likes.