A question that customers that go into casinos often ask usually goes along the lines of, “Which slot machine will hit the most wins?” It may sound like a simple question but the answer to it is unknown as slot machines do not have the probability of winnings that many people think it does. Going to online casinos, however, offer you a chance at free spins with no deposit needed.
The Director of the Center of Gaming Research, David G. Schwartz, at the University of Nevada, Las Vegas, explains that slot machines have a mathematical calculation of the payout. Here are some things he said that you should know about how slot machines work and why are there so many people who love playing them.
Casinos in the United States earn most of their money with their slot machines. Slots make up about 65 to 80 percent of the revenue for casinos in many states. This percentage goes to about 50 to 88 percent in Las Vegas from the high rollers that bet tens of thousands of dollars at the Las Vegas Strip to casinos catered to the locals respectively. Many players fork out millions of dollars to play slot machines and there is a reason why.
It is easy to play modern slot machines. All the players have to do is insert currency, decide on their wager, press spin, and let the machine do the work. Slot machines have evolved and there is now a huge variety of them. From physical spinning reels also known as “steppers” to replicate the spinning reels to a digital video screen, these slot machines all play out the same way regardless. Similar to the video slot machine, there is also video poker where players require some skills to hold the most beneficial cards. No matter the branding, every other slot machines are luck-based.
People feel attracted to the chance aspect that slot machines have. As long as you have the cash to put into the slots, you are a button away from having a chance at winning a jackpot. Your chances could even be as good as someone who had been playing for many years because, at the end of it, it is all about luck. Who does not feel a little lucky at times?
How Slot Machines Work
The first step is inserting either cash or a ticket into the machine. After the currency is inserted into the machine, a player can choose the denomination that they would like to bet in.
The second step is to select their bets. Most machines have you bet multiple “lines” per spin.The third step is done once the player has finished selecting. They will press the spin button and the slot machines’ software will interpret numbers to determine combinations to show on the screen. Slots with physical reels have the software that stops the wheels themselves. Each round, a player has the option to cash out if they still have money in the machine. A ticket will be given and a player can either use it to play other machines or redeem the money inside at a booth or kiosk.
Casinos use a lot of slot machines as they are a stable income, as long as there is a market for them. They are reliable to casinos as explained with the words of Bob Ambrose, a gaming consultant and casino management instructor who broke into the casino industry during the 1980s, “It is all about the game math.”
The number that casinos look at for how the slot machine is doing, is the drop. The drop is how much cash the players have deposited into the machines. They would also look at the handle, a number that tells of the total amount that a player has bet. An example to illustrate this if someone puts in $100 and wins a $50 jackpot. They keep playing until they have used up all their money including the $50 that they had won previously. The drop would be $100 and the handle would show $150.
After the slot machine pays out the jackpots to the players, the casino gains revenue from the remaining amount.
Ambrose continues explaining that the slots’ payouts are calculated statistically. Once the player plays a spin, the machine uses an algorithm called the random number generator to determine if the spin is a win or loss for the player. If the generator chooses a win, it also picks how big the win is. Every game has a determined hold percentage and a paytable that on how frequent and how much the game will pay back the player.
Low volatility games will pay the player more often but in lower values like video poker. High volatility games have very few hits with a much bigger amount won like the Megabucks progressive. Therefore, a high volatility game could have a higher payoff, playing low volatility games could be more profitable for your time.
The casinos have a statistical advantage using these slot machines. It is a mathematical calculation that helps casinos create more revenue for themselves to gain a profit in the industry. That means that players do not have an edge on slots that are all about chances.
That is not to say slot machines never payout. If the slots payout nothing, players would stop using the machines and casinos lose their money-making business. Most laws have stated that slots must return about 85 percent as the minimum amount to players. Most machines have returned more than that percentage. Even if you find yourself losing your last credit, there is still a chance that you will be winning a part of the 85 percent of returns.
These are the appeal of slot machines that both casinos and players are drawn to. The players will have a realistic chance at winning at slot machines but they are designed to still lean towards the casinos’ favor in the long run. For the slot machine players out there, even though you may feel lucky enough to win the next big jackpot, the casinos are always going to be luckier.