Topic: Can gambling sites provide proof of auditing that was done on their RTP? - page 4. (Read 809 times)

I think this applies to slot game providers as well, such as Amatic and Pragmatic and many others. These companies provide important services for online casinos and all digital gambling platforms, and it is obvious that they will be granted licenses according to the audit results. I do not know which competent authorities are supposed to be charged with carrying out these verifications, but in the most extreme cases, one of the reliable auditing companies is contracted with him. I am talking here about the regulatory authorities and not for any ordinary user who is supposed to verify the integrity of the service according to the results of the audits.

If the answer from ChatGPT is true then there might be irregularities in audits. They could engage in connivance with auditors and operators, especially in casinos or gambling industries. One of the gambling operation in the Philippines (PCSO) is under investigation due to unnecessary lottery winners. Currently, the Senate of the Philippines is investigating this issue. I don't have any updates on it as of now. This issue isn't about the RTP but the possibility of irregularities of casinos or gambling industries.

I don't think you can test provably fair on a slot machine. Someone can correct me if i'm wrong as I am actually curious of this myself.

Regulatory authorities couldn't catch up with the technology or they are just not doing their job to enforce. It's harder to do it than to the traditional casinos and this I can understand because those brick-and-mortar casinos can't just walk away and never return calls to the regulators.

And most gamblers wouldn't mind those RTP and RNG, all they care about is if they win, they going to get money. Most of the users who just discovered they can gamble online are not studying all these before betting. At least for me, I don't in the beginning. After I learned about this, I still didn't mind actually.  But I am interested in reading the scam accusations of users though.

Based on what I've read, these online gambling sites are subject to regulations and license requirements that compel them to undergo regular audits by independent third-party testing agencies. These audits are conducted to verify that the games' RNG is fair and that the stated RTP is accurate. But the big question is, is it enforced and thoroughly reviewed by the regulatory authorities?

What is the difference between provably fair and RTP? It seems like there isn't much difference because winning or losing still ultimately depends on luck. So, if you keep playing in the long run, losses are likely to be inevitable.

I once chased losses and played one slot machine continuously, but I didn't get good results, all I got were more and more losses. So I don't really care about RTP, and in my opinion there is no guarantee about RTP, this happens when we play a slot machine that we have never played before and it turns out we can get a big win. Or maybe the RTP is random and doesn't always come back to us, but winnings can also be given to other users?

I gamble only relying on my feelings, if my feelings are good then I continue playing, if not then it is better to move to another slot machine in the hope that I will be luckier

Because the authority didn't force them and most people don't mind about it, if everything is working, why they need to post it? there's a chance to cause a drama because the gamblers will compare their data with the data from the providers.

That's really bold to say "just words", many casino providers were established from 2 decades ago, before Bitcoin was exist. I don't think 2 decades is a short time, they must be have followed a strict regulation, they might not show it to public, but they must be show it to the authority and the audit firms.

From what I know, its call the RNG audit not RTP audit.
RNG (random number generator) program on slots is responsible for determining the outcome of each spin, and RNG guarantees that the past outcomes do not affect the future results.
And this RNG usually tested by independent audit labs such as Itechlabs, Ecogra, etc.

For online slots, some of the gaming providers provide a variable RTP setting but the slots operator/casino will not able to set random numbers.
For example, slot A standard RTP is 96% and the gaming provider of slot A only provides an option to pick 94% or 96%, because of that the casino will not able to set it to any number beside 94% or 96%.
Also to change RTP, the slots operator/casino is not able to change it anytime they like because they have to request it first to the gaming provider or via the 3rd party casino software provider and it will not happen instantly.

Some of you might aware that the same slots have different RTP at different casinos, it doesnt mean that some casinos are cheating with lower the RTP but because its legal and they are allowed to do that.
I suggest to play only slots with the standard RTP from the gaming providers, how to check it?
Google it or visit the gaming provider site to check it then compare with the RTP of that slot on your favorite casino.
To check the RTP, load the game then go to Setting or Information. Any casino will not able to change any info in the information tab including the RTP info about that game.
For example,


Because of the reasons above, the slots operators/casinos dont need nor able to provide an audit of the RTP/RNG because the slots operators do not have a direct access to that program.
And Im sure many people are still not aware that they play their favorite slots with non standard RTP on certain sites.
 

Legit game developers (3rd party providers) provide the data, but it's for the gaming authority... you know for the license purpose.
Their RNG should also be certified, for instance: Pragmatic Play
So assuming everything is working as it should, you don't need to overthink about RTP and stuff. However, we are still in the realm of trusting 3rd parties, which, in my opinion, is kinda risky considering the history of corruption and stuff.

To be honest I never know if there an audit for RTP and yes people usually choose a game with high RTP ratio but you are kinda right maybe we need an RTP audit hahaha, but I saw a lot of people win big 90% RTP sometimes the gambling site post a leaderboard should we still need a audit rtp in your opionion

This question is best fit for casino owners, I wish we have some of them on here to answer this question right now.

Many online casinos claimed to be audited but there is no proof of audit online like those from crypto projects, In gambling, it's users risks and in crypto project investments it's also users risks, I wonder why crypto is more eyed on because this shouldn't left online casinos out either.

If SEC are going after crypto projects why no one ever heard about some organization going after online casinos? Because I strongly believe that they are not all audited, their proof are just words, nothing more.

I can tell you with full confidence that local online casinos with local licenses get audited. I know that the software of slots, roulette, blackjack and every other games, get regularly checked by government to make sure that every local operating casino plays fair games.
Many crypto casinos use Curacao license. I don't know if they are required to do audits. As I know, the license giver country should audit them but Curacao doesn't mandate casino servers to be physically located within its borders. Probably audits aren't done on online casinos, I hope some casino owners will answer this question.

I asked AI the question below and it gave a very interresting answer and even more questions that are unanswered.

"Teach me about RTP in gambling and how it can be proven"

ChatGPT
RTP stands for "Return to Player," and it's a measure used in gambling to indicate the percentage of wagered money that a slot machine, table game, or any other gambling product is expected to return to the player over time.

To calculate the RTP of a game, you need to know the total amount of money wagered on the game and the total amount of money paid out as winnings. Then, you can use the formula:

RTP = (Total Winnings / Total Wagers) * 100

For example, if players wager a total of $1,000 on a slot machine and the machine pays out $950 in winnings, the RTP would be calculated as follows:

RTP = ($950 / $1,000) * 100 = 95%

This means that, on average, for every $100 wagered, the player can expect to receive $95 back in winnings over time.

To prove the RTP of a gambling game, regulators often require developers and operators to undergo testing and certification by independent auditing firms. These firms analyze the game's software and mechanics to ensure that the stated RTP is accurate and fair. Additionally, regulatory bodies may require operators to periodically report on the actual performance of their games to verify that they are meeting the stated RTP. This helps ensure transparency and fairness in the gambling industry.

So, I know these audits are done on "brick n mortar" casinos, but what about the online gambling sites?

If these audits are done on online gambling sites, why are this not published online for transparency? It does not even have to be detailed reports, just a summary report of their findings.