what is the difference between payout and pays?
e.g.
betting on roulette red has a payout of 2 and pays 1?
Quote: bumblingfoolis payout the gross win and pays the net win or vice versa or something else?
e.g.
betting on roulette red has a payout of 2 and pays 1?
For what you're referring too: Payout = total amount back, Pays = Odds of the bet.
In your example the "pays" refers to the odds... Red/Black is a 1-1 bet, so it "pays" 1 time on your money.
Another example would be betting a third of the board in roulette. It PAYS 2-1. So if you bet $10 and hit, it pays you 2-1 (two times on your money) on your 10, and your total PAYOUT (including your initial wager) would be $30.
Payouts I would generally think are associated with jackpots, etc, because that's the total lump sum win. Pays generally regards to the odds you're getting on the bet. I hope I'm not mixing things up, just attempting to answer the specific question you appear to be asking.
Quote: RomesFor what you're referring too: Payout = total amount back, Pays = Odds of the bet.
In your example the "pays" refers to the odds... Red/Black is a 1-1 bet, so it "pays" 1 time on your money.
Another example would be betting a third of the board in roulette. It PAYS 2-1. So if you bet $10 and hit, it pays you 2-1 (two times on your money) on your 10, and your total PAYOUT (including your initial wager) would be $30.
Payouts I would generally think are associated with jackpots, etc, because that's the total lump sum win. Pays generally regards to the odds you're getting on the bet. I hope I'm not mixing things up, just attempting to answer the specific question you appear to be asking.
Thanks.
Is this standard across the industry?
payout = gross
pays = net
Quote: rdw4potusAre you seeing those terms somewhere in particular?
Seems there is no convention. People use pays, payout, payoff and switch the meaning of them.
Pays=net
Pays=gross
