The payback percentage is simply the house edge subtracted from 100%.
That means the same thing as the house edge in the first example, and over an infinite number of bets, the mathematical expectation is the same-the casino will win an average of 50 cents out of every hundred dollars the player wagers. In slot machines, a player might be playing a slot machine with a payout percentage of 99.5%. That means, over an infinite number of bets, the casino will win an average of 50 cents out of ever hundred dollars the player wagers. In blackjack, a player who’s using a basic strategy might be playing against a house edge of 0.5%. It’s the same idea, but it’s that idea looked at from a different perspective. Slot machines use a slightly different metric called the “payback percentage” or the “payout percentage”. When discussing the odds of most casino games, writers use the term “house edge” or “house advantage”.
