Slot machines are the biggest money bringers for casinos. In fact, some 50-80% of casino profits come from slots. Their ease of use, the promise of large jackpots, and the lack of skill required to play make slots extremely attractive.
Slots are games of pure chance. This means that it is luck that determines the winner. Whereas table games such as blackjack or craps require added skill to play, skill is absent with slot machines. The one-armed bandits, as they are commonly known, are excellent pure luck-based games.
The first time a gambler enters a casino, they are quick to see the one-armed bandits at work. Dispensing coins to winners and taking money or credit from the interested gamers.
Casinos will do their best to keep people playing. In fact, they often dim the lights on the gaming floor. And close the curtains. There are no windows in gambling venues and no clocks. The longer people spend at games, the more money the gambling venues make. Hence it is in their best interest to keep people playing!
Common myths regarding slots
Slot players often believe in myths regarding the machines. Many of those myths are simply illusions. And some of them are due to a lack of understanding of the mechanics behind slots.
Some common myths include:
- Slot machines being either loosened or tightened by the casino during gameplay
- A particular slot device is due for a big jackpot
- After a machine pays out a jackpot, it will be long due for the next one
- Hot machines are placed on the aisles or near the exit
- The bigger the crowd at the venue, the tighter will be the machines
- If a machine has not paid out for a long time, it is due to hit soon
- A player has just left a slot machine. And the jackpot has just been paid out to somebody else. They lost the jackpot.
It is important to avoid as many of these myths as possible. How slot machines work will be discussed below.
The payout ratio
To play slot machines well it is important to remember that they are games of chance. Hence luck is the determining factor in winning. Not skill. In fact, to win at slots a gambler needs to have fate on their side.
Out of all the casino games offered, slots need the highest amount of luck to win. They are 100% chance-based games. The chances of winning in slots are programmed into the machine. They take the form of probabilities ranging from 0 to 1.
- A slot unit with a 0% probability of winning will never return any winnings to the bettor
- A slot unit with a 100% probability of winning will return every penny to the bettor
- Most slot machines have a probability ratio of 80%-98%. Depending on the machine
The higher the probability of winning, the better are the betting odds. Gamblers should remember that.
Tight and loose machines
These winning probabilities are also known as the Return to Player (RTP). Slots with a high RTP ratio are also known as loose. And slots with a low RTP ratio are also known as tight. Picking the machine with a good RTP is the first step towards winning.
The RTP ratio is directly related to the chances of winning real money from the machine. The looser the slot machine, the higher are the odds of winning. The tighter the slot machine, the lower are the odds of winning.
Punters should make sure to check the RTP ratio on the different machines offered at the casino. To start playing, picking a loose machine is the first necessary step.
Variance is defined as the degree of volatility of payouts from a single machine. Machines with high variance will often have fewer payouts for the player. But will feature a progressive jackpot in the millions.
While machines with low variance will often reward the gamblers with small winnings. But not feature any large jackpots. The higher the variance in slots, the bigger will be the spread of the payouts. Low variance machines are better for short-term play. High variance for long-run gaming.
- Slot variance can also be defined as the inherent risk present in each machine.
- The higher the variance, the bigger the risk a gambler is taking.
- Machines with low variance are also low risk. Looser and with a bigger RTP.
- Machines with higher variance are high risk. Tighter, lower RTP, but bigger jackpots.
Remember that picking the right slot machine will require research and due diligence from the player!
The randomness of inbuilt numbers
Slots are games of pure chance. Whether or not the machine will payout real money is governed by laws of probability. All slot machines have inbuilt random number generators (RNGs). These are silicon computer chips that produce a series of completely random numbers.
The sequence of numbers produced by the RNG is what determines the win. RNGs will typically generate around 1,000 random numbers each second. Each type a bettor pulls a lever, a corresponding sequence of random numbers is attached to that pull.
The RNG generates a new series of numbers each millisecond. So pulling the lever even one-thousandth of a second later will result in different random numbers being attached to that pull. The numbers generated by the computer chip are completely random.
In fact, the RNGs on slot machines undergo verification by the state and federal gambling regulatory authorities. This ensures the randomness of the chips. For both casinos and gamblers alike. The machines are programmed to return a certain amount of money to the players.
Gamblers need to know that it is impossible to take advantage of a slot machine. Or tilt the odds of winning in your own favor. As each second a thousand random numbers are produced by the RNG, it is simply laws of chance that govern the payouts.
Gamblers should remember that when playing slots, it is the RNG chip inside the machine that decides the winner. And there is no way to tweak it in one's favor!
The economics of slot machines
Gambles should beware of the poor economics of slots. In fact, the one-armed bandits can very much work against the average gamer. It is ordinary for the demand for a product to fall when the price rises. The more expensive something is, the fewer people will want to buy it.
However, with slots, economics does not always work that way. Research has demonstrated that as the price of a slot machine rises, demand for it does not decline. Here the price of slots can be defined as the RTP ratio.
Pricier machines are going to be tight, with a low RTP. While the cheaper machine will be loose, with a higher RTP. What researchers have discovered is that when the price of a slot machine increases, the demand for it stays constant.
This is believed to be due to the probability of winning on each unit being somewhat concealed from the average player. When making a bet on slots, the RTP ratio is not always clear. And many bettors fail to differentiate between tight and loose machines on the casino floor.
Expensive slots will generate far higher revenues for the casinos. And offer far lower chances of winning for the customers. Therefore casinos have an incentive to tighten up as many slot machines as they can!
In fact, about 80% of casino visitors play slots as their first game. And the venues make a lion's share of their profits from the one-armed bandits. Casinos are businesses. The goal of every business is to maximize profit. Slot gamers should remember that the tighter the machines, the more money the venue will make. At the expense of the player's losses.
Checking the payout ratio on Google
Punters should always make sure to check the payout ratio for the slot machines before beginning to put money into them. This both ensures higher chances of winning real money and cuts the potential losses immensely.
The RTP ratio can be checked in Google. The slot games with the highest RTP include Ugga Bugga, Mega Joker, and Ooh Aah Dracula. Here the ratio is in excess of 99%. The slot games with the lowest RTP include Sassy Bingo and X-Men 50 lines.
To start playing at the Las Vegas machines and take advantage of the opportunity, gamblers should remember the following:
- The many myths regarding slots are just lore. Not fact.
- Each machine has a particular payout ratio. Also known as the return to player.
- Slots are games of pure chance only. No skill is required.
- The random number generator ensures the randomness of each play or spin
- Slots have very poor economics. Casinos have an incentive to buy tighter machines
- RTP for slot games can be checked on Google
Some info on casinos and gambling
Casinos attract players in order to make a profit. The more money gamblers lose, the higher are the revenues of the establishment. Bettors should remember that casinos are in business because of them. It is in their interest to keep people playing and losing money!
How casinos generate a profit
To win real money from casino games requires exposing oneself to the house edge. The bigger the house edge, the higher are the casino's long-term profits. And the more losses will an individual incur.
The house edge is the statistical advantage that a casino has over the player.
It can be as low as 1% or as high as 25% on games such as keno.
Tight slots will often have a 15-25% house edge embedded in them. Therefore for every dollar wagered, the player is expected to receive back only 75-85 cents. Loose slots will have a smaller house edge. Somewhere between 2-5%. Here a 1 dollar bet on average will return 95-98 cents. A much better deal!
How people become addicted to gambling
Slots provide a small chance to win a jackpot in return for a series of below-even money bets. The one-armed bandits take advantage of the reward-punishment system inside the gambler's brain. The neocortex will reward an individual with dopamine even upon small winnings. And punish the individual upon losing.
However, the rewards tend to be far stronger than the punishments. So a player will feel an ecstatic urge to keep gambling, even after having lost a large amount of money. Players should keep in mind this principle.
Casinos often take advantage of this reward-punishment system to keep gamblers playing the games. Making even small winnings from games greatly rewards the individual. Enough to make up for all the previous losses. And keep the person playing. Every slot player should remain aware of this!
Why slot paybacks vary
In the United States, the payback percentage of the slots is regulated by the state and federal gambling authorities. A casino is required to have all of its machines be checked and verified to ensure the fairness of each game.
While slots can be very fun to play, hitting a top jackpot is highly unlikely. The payback percentages vary for each machine, but the higher is the possible jackpot, the lower will be the payback percentage. Players should keep in mind this fact.
When playing slot machines, gamblers should remember to always check the pay table first. This will let them know the odds of winning in the different games provided. Whether at an online casino or in a brick-and-mortar establishment.
How do you pick a winning slot machine?
Picking the right slot machine can be difficult. Slots are games of pure luck and hence it is impossible to think long term here. In fact, thinking short-term is the right strategy for playing slots. Constraining time spent gaming and keeping the bets under tight control are necessary.
Luck is the determining factor in these casino games. The biggest jackpot ever paid out from slots was a staggering $39,713,982.25 from a progressive machine at a casino located in the Las Vegas strip. Remember that the odds against scoring that big are 100,000,000:1 or less!
Types of slot machines
There are three main types of slot machines that can be found in a casino. When playing slots at either brick-and-mortar or online casinos, remember to pick the correct machine Some will provide a gambler with a small chance to win big but at the expense of the RTP!
The main types of slots are listed below:
The multiplier machine. The payout here is directly proportional to the number of coins put inside the unit. With one coin, the payback can be ten credits. With two coins, twenty credits. And with three coins, thirty credits.
The buy-a-pay machine. Here each coin will buy a new set of symbols or a payout line. Each additional coin inserted into the device activates new payouts. The more coins are inserted, the greater are the chances of winning.
The progressive slot machine. This unit returns a part of all the coins previously inserted when hitting a jackpot. The longer the machine has been played by others, the higher will be the final jackpot. To win, playing maximum coins is required.
The buy-a-pay and progressive machines usually require the gambler to play maximum coins. In the first case, this boosts the odds of winning. The second case, allows the bettor to hit a big jackpot.
Picking the type of slot machine
If a gambler is looking for a large prize, slots featuring progressive jackpots should be played. Should a player hit the jackpot, the machine will reward them heavily. However, never play a progressive slot machine without making the maximum bet!
Progressive machines often feature jackpots in the millions of dollars. Links are commonly made between several machines at a casino. This increases the player payouts in the long run. On a progressive, only playing maximum coins will award the jackpot.
The buy-a-pay machines can be great if the gambler is willing to play maximum coins. The more coins a player inserts, the higher will be their chance of winning. The number of winning combinations on these machines raises proportionally to the number of coins inserted.
Multiplier machines can be great for frugal gamblers that want to only insert one coin at a type. They are both fun to play with and have lower money requirements from bettors. Multipliers will often charge players per spin of the reels. Allowing the gambler to play only one or two coins at a time.
There are three-reel and five reels slot machines. The greater the number of reels, the more chance there is to hit a single winning combination. Even if the payout will be small. The odds of breaking even are, however, still determined by the preset RTP ratio and the RNG chip inside the device.
Gamblers should remember that to win a progressive jackpot requires selecting a tight machine with very high variance. In fact, progressive slots can be much pricier than multiplier machines. Hence only play with the money that you can afford to lose!
Selecting the correct denomination
There are several denomination slots that are available at every casino. To begin to spin the reels on a machine, coins of the following denominations are often used:
- Penny, or 1 cent
- Nickel, or 5 cents
- Dime, or 10 cents
- Quarter, or 25 cents
- Dollar, or 100 cents
Penny slots can be relatively more expensive than dime slots. Although they appear cheaper at first, penny slots can be much tighter. With a lower RTP and a higher house edge. While the quarter or dollar machines will be much looser. Featuring a high RTP and a lower house edge.
However, to play progressive slots it is best to always bet maximum coins. The jackpot will only be paid out if the gambler has played maximum coins. To win real money on a progressive machine and fit within a budget, choosing a lower denomination is required.
The number of payout lines can differ on each device. Ranging from one to several. The more coins are inserted into the device, the more payout lines can the bettor select. This increases the probability to win per spin.
Make sure to find the correct balance between the denomination and the chance to win when selecting a slot machine!
Sometimes choosing penny slots can the correct choice. Although on a progressive, the total money needed can quickly rise. This is because some games will feature up to 20 pay lines, with a 25 coin price for each of them. The total amount bet, in this case, will be $5!
People who want to play video slot machines need to specify the number of pay lines. The more coins are inserted at once into the device, the more pay lines can be chosen. The higher will be the chances to win.
Video slots often feature bonus rounds that increase the odds of winning. These bonus rounds will often give a gambler free spins on the game. To the delight of the players. Free spins often allow the bettor to win money without making any sacrifices.
Further, video slots do not require the same degree of skill and aptitude as video poker. Certain analysts say that video slot machines will replace traditional reel-based games in the future!
Many online casinos will also offer slots to their clients. Featuring a wide selection of games to play, online slots can be both fun and rewarding. However, the same principles and criteria need to be applied when selecting slot games at online casinos.
To win a progressive jackpot on an online slot machine will require a huge degree of luck. And although the denominations of online slots can be lower, they can be much more addictive. Online slot providers will often offer bonus rounds to their customers.
Upon signing up for an online casino, free spins are usually given to each player as a welcome bonus. Although gamblers should beware of the RTP set in their favor on online slots when playing free spins. To give the players a taste of winning. And have them spend more money later!
Choosing a good online slots provider
To play online slots and win, picking a good internet casino is necessary. Bettors should make sure that the provider has an official license from a recognized jurisdiction! For example, from Malta or Isle of Man.
This way gamblers can feel safe that online slots have not been tweaked against them. To play slots on the web and win a safe website should be chosen. The RTP on some online slots can be as high as 99%. And the supervisory bodies will ensure the fairness of games played.
The top-rated online casinos provide both fair and fun games for gamblers to play. Featuring bonus rounds and free spins. To play slots on the internet, picking a legitimate website and sticking to it will guarantee the quality of the games.
How do you play slots for beginners?
To play slots is easy. The game requires practically no gambling skills and is of pure luck. Slots nowadays all have currency acceptors. So all a player needs to do is pick a slot unit they want to play on and slide in a currency bill. A corresponding number of credits will be displayed on the screen.
The higher the denomination of the unit, the fewer credits will a player receive on an identical bill. To start playing, simply pull a lever or press a button. This will spin the reels and start the game. Slots often present gamblers with three choices:
- To play a single credit
- To play multiple credits
- To play maximum credits
On progressive machines, to win a jackpot requires a gambler to select max credits. While this can be pricey, it guarantees a big possible win. Multiplier slots will reward a player for each additional credit they play. Here a single credit play can give a 10x win, double credit can give a 20x win, and a triple credit can give a 30x win.
In modern establishments, special cards are often used that can be filled up with credits at the cage. This card can be used for both depositing money with slot machines or withdrawing the winnings. No need to collect the coins disbursed by a machine. Simply have the winnings transferred to the gaming card instead!
Safety and bankroll management
When making a bet, it is important to value the risks versus rewards. Every casino game has been designed to keep people playing. This is how casinos make their money. Whether online or at a brick-and-mortar establishment.
Therefore good bankroll management is important. Upon depleting the bankroll, gamblers are advised to stop playing immediately. Sound management practices also require bettors to only play with the money they can afford to lose.
Whether choosing an online slot provider or playing at a casino, keeping careful track of the time spent gaming is pivotal. Slots can be addictive and a gambler can spend much more money on play than initially planned.
How do casino slot machines work?
Every slot machine has a unique microprocessor inside. This RNG chip will generate a series of random numbers each millisecond. Each time a lever is pulled or a button is pressed, a random digit is picked at the very millisecond of the action. Should this number correspond to a winning combination on the slot machine, a payout occurs. Else a loss is registered.
When making a bet, the gambler is actually expected to receive a loss. The RTP ratio determines how much money will be returned to the player from each bet made. It typically hovers in the range between 80%-98%. Tighter machines will return less for each dollar bet. While looser units will return more for each dollar bet.
A casino will make a profit from slots by averaging out all the losses and winnings. Over a decade of use, each slot unit will return a profit. This profit will equal to:
(1-RTP) * money wagered on each slot machine over ten years
The higher the RTP, the less profit for each dollar wagered will the casino receive. Each dollar bet will return the casino the (1-RTP) dollars in revenue. Players are advised to check the paytables of each game to ensure a fair RTP for themselves.
The higher the reward, the bigger the risk
Progressive slots have the highest risk embedded in them. With a low RTP and high variance of payouts, they can be extremely expensive to play. In fact, progressives often require players to play maximum credits to win the jackpot. And can be the tightest machines at the casino.
Multiplier quarter slots can have a high RTP with a low variance of payouts. These machines can be cheap to play at and be very loose. With a high RTP and low variance, during a single session of play at the casino, a gambler can win multiple times. But only small amounts of money.
In general, slots that promise high jackpots and big winnings can be very tight and pricey to play. While slots without astronomically high possible payouts can be much cheaper. A frugal gambler should always consult the paytable on the slot machine to ensure to get the best deal.
How do you know when a slot machine will hit?
In fact, it is impossible to know. The nature of randomness is that a single slot unit can hit big in one second. And hit big immediately in the next. Or go for years without payout the jackpot to anybody. The RNG in each unit ensures that games played are subject to the laws of random digits. Each play is entirely independent of each previous play.
Independent events have no connection to any other events happening. Whether prior in time or at a different location. Such as tossing a coin.
Dependent events are when the outcome of one event is dependent on the outcome of another. Like picking marbles out of a bag.
Winning at slots is an independent event. There is no connection to the previous games played on the same unit. A particular slot unit may have never returned a sizeable jackpot over its whole duration of service, but it is just about to hit. While another slot unit can payout a lot of winnings over a short period of time, but will never hit again!
It is impossible to predict when slots will hit
There is no correct way to predict when slots will hit. It can be now or never. Just like tossing a coin. Each coin toss is independent of each previous coin toss. Heads can come up ten times, and on the eleventh toss, it can still come up heads.
Slots are extremely popular at gambling establishments as they provide games of pure chance to players. There is no skill needed to use a slot device.
There are a lot of rumors and legends among the betting community regarding slots. Some of them have been described at the start of this article. However, all the myths have been refuted by science. The microprocessors inside each slot unit ensure that no real patterns emerge during play.
The nature of randomness and independence of each game makes predicting when a slot unit will hit impossible. Slot gamers should remember this before visiting their favorite casino.