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For most casino table games, a straightforward calculation will reveal the House edge—i.e., the amount the casino can be expected to retain out of every dollar played. That advantage ranges from a low of less than one percent on blackjack (when played with the optimum strategy) to 1.41% on Pass/Come bets at the craps table and 5.26% for American roulette.
Slot machines, however, are an enigma. Without knowing the number of “stops” (resting positions) associated with each symbol on the reel, no such calculations can be made. Even then, the payouts are complicated by the number and frequency of bonus games and multipliers built into the pay tables for maximum bets. Therefore, the most accurate indicator of how much of every wagered dollar the casino expects to keep can only be found in “slots payback percentages.”
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Payback Is Predetermined
The payback percentage of any given slot machine is the total amount of cash it has paid out divided by the total amount of cash accepted by that machine over a specified period of time, i.e. the ratio of winnings to wagers. If a player bets $1 on each spin for 100 spins and ends up with $97, then the payout is 97:100 or 97%. That’s equivalent to a House edge of 3.0%, which is referred to in slots play as the “hold percentage.”
For each machine, the payback percentage will vary somewhat from hour to hour or day to day, but over the lifetime of the machine it will approach a specific number that was incorporated into its programming at the factory. In fact, casinos select the targeted payback/hold percentages when they order the units from the manufacturer, so the numbers are by no means arbitrary.
Nor do the casinos and manufacturers have unlimited freedom to choose any payback percentage they like. To protect consumers, a minimum threshold is fixed by law. The percentage may not fall below whatever standards have been set by the local regulatory authority. In some jurisdictions, the minimum may be as low as 75%. Typically, there is no maximum limit, but in order for the slot operator to make a profit, the targeted percentage must obviously be less than 100%.
Legal payback percentages are not based on averages, either. Most jurisdictions are like Nevada, where the Gaming Control Board requires that each and every machine in the state must meet minimum payback percentages. The payouts are monitored so that any noncompliant machines can be removed from play and recalibrated. This serves two purposes: protecting players from an unfair House edge and ensuring that the casino earns a predictable income.
Playing by the Percentages
Most slot operators realize that it is to their advantage to offer slots with payout ratios well above the minimum required by law. Market economics is the key determinant. With a payback percentage close to 99%, the casino’s margin is tiny, but volume will be high because players will risk and bet much more money. Conversely, when the payback percentage is low, the profit per wager may be higher, but the volume of play will drop as soon as players figure out how difficult it is to win. They will start taking their business elsewhere.
That means the challenge faced by every casino is how to set the slot payback percentages for optimum profitability. The point of equilibrium may be very elastic—anywhere between 80% and 95%, as a rule. The problem for players, of course, is that the casinos do not make this information readily available. At best, they publish a monthly “average,” including the payback rates of all machines in a single figure. Customers have to discover on their own which slots are “loose” (high payback percentages) and which ones are “tight” (low percentages).
It is worth noting that online slots typically offer higher payback percentages than those found in land-based casinos. That’s because they have less overhead and more competition. Also, slots located in rather isolated areas, such as on Native American Indian reservations, may have much lower payback percentages, owing to the lack of local competition. It certainly pays to shop around and seek out the loosest games available.
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Slot machine are great piece of gaming equipment that gets activated once a player inserts a coin. As soon as the coin is inserted, then you are ready to play. If you are fortunate to win a jackpot prize while playing slot games, the machine pays you your cash prize as soon as the game is over.
Knowing how to win big in slots is easy. The anticipation and anxiety that comes with hitting a jackpot makes playing slots in casinos Canada fun and entertaining. Of a truth, players have their different specific techniques and strategies used in order for them to win. However, the best ways to increase your chances of winning big in casino slots machine is selecting one in a perfect location.
Prior to playing slots, you should know the worst and best paying slot machine. This is very important when playing in a casino! Choosing the best paying slot machines, without doubt, increases your chances of winning. Keep away from the worst paying machines if you don’t want to lose all your money at a go.
Read also: Top rules for beginners when playing slots
Every gambler or slot player should know that the best ways to maximize winning is choosing the best paying slots, sometimes referred to as “Hot Slot”. Casino employees can help you choose a slot machine which has the best prizes. All you need do is ask politely.Upon identifying a “Hot Slot” machine, the next thing to do is to try it out. If after testing the slot machine, it gives a winning streak that’s higher than your bankroll then you are in the right place. On the other hand, you can switch to other slot machines when you discover that you are already losing about 20 to 30 percent of your initial bankroll.
Follow this tip is you are looking to win big in slot machines:
Once you’ve done a bankroll test using a specific slot machine and it keeps giving you more than half of your profit compared to your initial investments, it is wise to stop playing with the machine and switch to another immediately. Reason being that your profits keeps decreasing if you keep using that machine, thus making it a “Cold Slot”. However if the machine gives you the same amount of money to 49% profit, then stick to that machine and keep playing with it. Using this particular slot machine increases your chances of hitting a jackpot, as it may be the “Hot slot” you’ve been looking for. Let say, you started spinning for $200 and you earned profit of about $200 - $298, this shows that the slot machine offers the best payout.
As a professional slot machine player, you should know the right time to stop playing with a particular machine and switch to another. By so doing, your chances of winning big increase. If you are losing so much money while playing with a particular slot machine, you need no soothsayer to tell you it’s time to change machines. Observe the performance of your machine while playing slot.
Frequently Asked QuestionsWhere the game is played matters little. The conditions for winning are all the same.
Read the rules - Wheel of Fortune. It should be clear how you can win that way.
Same as any other game that you play at any gambling establishment. Play the game and get the winning conditions.
Is there an earning cap to earnings? How much am I able to win at a slot machine?
That depends entirely on the game that you are playing. Each one has their own different sets of payouts and values. You can see all of this well before putting any coins or bills into the machine as these are outlined in the rules.
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There are a number of great games out there and several have made a name for themselves. But to point to one specific one is difficult.