Throughout the world, there are many forms of gambling. If you are to gamble, of course you want to play to win. However, this is not always an easy task. This is because the chances of winning are always calculated so that in total, the "house" (meaning the operator of the gambling game or race) always wins.
All forms of gambling including casinos, lottos, and horse racing, are all businesses, meaning the operator must make money. For example for a lotto, there are many costs involved in running the business, such as printing costs of the lotto tickets, advertising fees, and personel costs. If in total, the revenue from selling of lotto tickets is 100 million US dollars, how much of that is actually given back to the players as winnings? This ratio is called the "payout ratio", and a lotto is said to be as low as 50%. This means that 50 million US dollars are given out as winnings, but 50 million is taken by the operator.
Similarly, horse racing is about 75%. The operator may say that this is necessary to run the business, but from the players point of view, that is a big chunk of the players money being placed in the pockets of the business owners.
Online casinos have a payout ratio of around 96%! If you compare with the numbers above, the difference is obvious. I have seen sites that have given out as high as 99% on payout ratio. This is due to the lower cost needed for operating online, which means much more can be given back to the players as winnings, while still making enough money to run a profitable business.
This is a huge merit for the players, and the main reason why more people win at online casinos than other forms of gambling. At trustworthy online casinos, the payout ratios are inspected periodically by proper third party auditor companies such as Price Waterhouse Coopers, etc. The auditor makes sure that the payout ratio number presented to the players is correct and game results are done in a fair way.
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