Throwing knives are a part of many cultures around the world and over the time it has evolved in shape and form and people have developed new tactics for them. The impact a knife has on its subject depends on its weight and the speed at which you throw it. A lighter one can be thrown with ease but fail to penetrate the subject whereas the added momentum of a heavier one increases the impact it has on its subject.
The impact that it has also depends on the strength with which you throw it. Mostly the wielders of these products are skilled people and receive good amount of training on wielding sharp objects. They are well versed in their craft and have good knowledge of the properties of their knives such as its center of gravity and the spin of it as it flies. However if you are not sure of your expertise at wielding them you should stay away from it as the effects could be deadly.
There are two particular kinds, which depend on their center of gravity, balanced and unbalanced. The center of gravity in a balanced knife is at the middle of it and in an unbalanced one it is off center. A balanced one therefore flies in a circular trajectory and you can predict its path. With the center of gravity being off center as in unbalanced ones, it is difficult to predict the trajectory and depends on the weight of the handle and whether you throw it by gripping the lighter or the heavier end. Some have adjustable weights too which slide over the span of them and can be balanced for use.