- What Slot Machines Have The Best Payouts
- Payout Percentages Of Slot Machines At Different Casinos Real Money
- To maximize slot machines payouts, make sure you're eligible for the bonuses offered. Some newer games avoid the issue by eliminating the option to play fewer paylines than available. A 40-line game might have buttons labeled 'Bet 40,' 'Bet 80,' 'Bet 120,' 'Bet 160,' and 'Bet 200,' giving you options to bet one, two, three.
- The State of Florida requires casinos to provide a minimum 85% payout percentage and the casinos also must publish averages that include all of their gambling machines. Depending on the area, averages range from 90.91% all the way up to 93.55%.
Casinos are not able to change slot payouts, slot machines come with an already set payout percentage, when a casino places an order for a slot it specifies the long-term payout percentage it wants. Although, depending on the jurisdiction the casino may or may not be able to change the payback percentages at a later stage. Casino at Harrah's Cherokee, Cherokee: 'What is the payout percentage of the slot.' Check out 11 answers, plus see 3,928 reviews, articles, and 348 photos of Casino at Harrah's Cherokee, ranked No.8 on Tripadvisor among 53 attractions in Cherokee.
I always thought it would be interesting to look at when to bet big on a game that's as close to the opposite of blackjack as I could think of. When should you bet big on slot machines?
Quite frankly, I have several opinions and lines of thinking related to how much you should risk when playing slot machines. And the conclusions I've come to are about as different as the conclusions I came to when discussing blackjack as you could ever imagine.
You Should NEVER Bet Big on Slot Machines
Compared to other casino games, real money slots have the ability drain your bankroll fast. Not only do slot machine games have the highest house edge in the casino, but they also practically force you to put more money into action per hour than any other game.
Betting big on slot machines basically guarantees that you'll lose a lot of money.
The average slot machine in a competitive casino destination probably has a house edge of around 7%. It could be higher than that depending on the machine. You're not able to determine how big the house edge, is though.
That's because the payback percentage is based on the probability of winning multiplied by the amount you stand to win. You do this for all the possible combinations, and you have the payback percentage for the game. Subtract that from 100%, and you have the house edge for the game.
How the Payback Percentage for Slot Machines Works
Let's look at a simplified slot machine game, slots probabilities, and how the payback percentage for the game is calculated. Let's suppose the pay table looks like this:
- Three fruit symbols result in a 200 for 1 payout.
- Any two fruit symbols plus any other one symbol results in a 25 for 1 payout.
- Any one fruit symbol plus any other two symbols results in a 5 for 1 payout.
- Any combination without a fruit symbol but with a bar symbol results in a 1 for 1 payout.
Now, let's say that there are 2,500 possible combinations, and you can achieve the following combinations in the following number of ways:
- You have eight ways to get three fruit symbols.
- You have 16 ways to get two fruit symbols plus any other symbol.
- You have 32 ways to get any one fruit symbol plus any other two symbols.
- You have 128 ways to get a bar without any fruit symbols.
- Every other possible combination results in no payout.
What are the probabilities of achieving each result?
You determine that by dividing the number of ways of getting that result by the total number of possible results:
- Getting three fruit symbols is a probability of 8/2500, or 0.0032.
- Getting two fruit symbols plus any other symbol is a probability of 16/2500, or 0.0064.
- Getting one fruit symbol plus any other two symbols is a probability of 32/2500, or 0.0128.
- And the probability of getting a bar with no fruit symbols is 128/2500, or 0.0512.
To get the expected value for each combination, you just multiply the probability by the payout:
- Three fruit symbols is worth 0.0032 X 200, or 0.64.
- Two fruit symbols play any other symbol is worth 0.0064 X 25, or 0.16.
- Getting one fruit symbol plus any other two symbols is worth 0.0128 X 5, or 0.064.
- Getting a bar with no fruit symbols is worth 0.0512 X 1, or 0.0512.
Play free casino slot games for fun. Add all those together, and you get an overall expected return of 0.9152, or 91.52%.
- You have eight ways to get three fruit symbols.
- You have 16 ways to get two fruit symbols plus any other symbol.
- You have 32 ways to get any one fruit symbol plus any other two symbols.
- You have 128 ways to get a bar without any fruit symbols.
- Every other possible combination results in no payout.
What are the probabilities of achieving each result?
You determine that by dividing the number of ways of getting that result by the total number of possible results:
- Getting three fruit symbols is a probability of 8/2500, or 0.0032.
- Getting two fruit symbols plus any other symbol is a probability of 16/2500, or 0.0064.
- Getting one fruit symbol plus any other two symbols is a probability of 32/2500, or 0.0128.
- And the probability of getting a bar with no fruit symbols is 128/2500, or 0.0512.
To get the expected value for each combination, you just multiply the probability by the payout:
- Three fruit symbols is worth 0.0032 X 200, or 0.64.
- Two fruit symbols play any other symbol is worth 0.0064 X 25, or 0.16.
- Getting one fruit symbol plus any other two symbols is worth 0.0128 X 5, or 0.064.
- Getting a bar with no fruit symbols is worth 0.0512 X 1, or 0.0512.
Play free casino slot games for fun. Add all those together, and you get an overall expected return of 0.9152, or 91.52%.
This means the hypothetical slot machine I described has a house edge of 100%, 91.52%, or 8.48%.
But What Does the Casino House Edge Really Mean?
The casino house edge is a statistical prediction of how much you're going to lose on the action that you place. For example, if you bet $100 on a game with a house edge of 8.48%, you're expected to lose an average of $8.48.
But this is a statistical average. As you can see in the example above, you can't lose $8.48 on a $100 bet on this machine. You can lose $100. Or you can win an amount of between $100 and $20,000.
It's a long-term expected average per bet, what you can expect after thousands of repetitions. This is what the Law of Large Numbers is all about. In the short term, with anything that's random, you never know what's going to happen. You might win a lot or lose a lot. On a single spin, you're looking at the ultimate example of the short term.
But the closer you get to an infinite number of repetitions, the closer your average results will get to the statistical expectation.
At 10 slot machine spins, you'll almost certainly get closer to that 8.48% expected loss rate. At 100 slot machine spins, the probability of getting close to the statistical expectation goes up even more. And so on at 1,000 spins and 10,000 spins.
How Long Does It Take to Get Into the Long Run With a Slot Machine?
The average slot machine player makes 500 spins per hour. That's the same thing as 500 bets. Contrast this with the average number of bets per hour at various casino games:
- Blackjack might result in 60 bets per hour depending on the number of players at the table.
- Craps might result in 100 rolls per hour, but depending on your betting strategy, you might not be placing a new bet on every roll. If you base it on decisions per hour, you might be looking at just 30 bets per hour.
- Roulette might result in 60 spins per hour, and if you're only placing one bet per spin, you're only looking at 60 bets per hour.
If you notice, the number of bets per hour at a slot machine is greater than the number of bets per hour on any table game by a huge margin. The fastest of these table games is craps, but you'd need to be placing a new bet on every roll of the dice just to make 1/5 of the number of bets you'd make on a slot machine.
What Does This Mean to the Amount of Money You're Expected to Lose on Slot Machines?
The casinos calculate a game's predicted win for the casino by multiplying the average hourly action by the game's house edge. The hourly action is just the product of the average bet size multiplied by the average number of bets you make per hour.
But suppose you're betting $3 per spin on a slot machine. That means you're putting $1500 into action per hour. And if you assume a 6% house edge, you're looking at a predicted $90 per hour loss rate.
That's a huge difference.
What Happens to Your Average Hourly Loss Rate on Slot Machines When You Start Making 'Big' Bets?
Okay, so suppose you decide to cash out your 401k and play the high roller slots at your local casino. Let's say these games have a max bet of $100. How much money are you expected to lose for an hour of this kind of action?
What Slot Machines Have The Best Payouts
$100 X 500 spins is $50,000 in action.
With a 6% house edge, your expected loss in an hour of play at this rate is $3000. That's a lot of money to lose on just an hour of entertainment. Sure, you could get lucky and have a big winning session. But the longer you play, the more likely you are to lose, and the more money you stand to lose during that losing session.
It's Okay to 'Take a Shot'
One of my professional poker mentors explained to me that it's okay to occasionally ignore strict bankroll management requirements in poker if you want to 'take a shot.' The idea is that you're willing to risk a relatively large amount of money on a big gamble.
This doesn't mean buying into the World Series of Poker every week for $10,000, if that were even possible. It does mean that it's okay to save $1,000 a month for a year to be able to take a shot at the final table next year. Roulette odds strategy.
It's okay to place a single big bet on a slot machine on the outside chance you might get a win.
Most people, though, treat slot machines like Lay's potato chips. They can't eat just one potato chip, and they can't just make one slot machine spin.
Conclusion
When should you bet big on a slot machine game? The short answer is, almost never. The house edge is too high, and the number of bets you'll make per hour multiply that amount exponentially. And the more bets you make, the likelier you are to see the statistically expected results.
If you want to bet big on a slot machine, limit yourself to a single big bet. If you're really aggressive, set some arbitrary number of spins as your target.
I once played a game for $100 per spin for just 10 spins. I won $6,000 that session, so it went okay.
Had I stayed at the machine for a couple of hours, though, I would have almost certainly have given all that back to the casino and then some.
Slot game payback or payout percentage is commonly called the slots Return to Player (RTP) and is the overall percentage that a casino slot machine or game will return to the player either during a playing session or over the life of the slot machine, whether it's a land casino slot or an online casino slot. Hold percentage is the amount kept by the casino or the casino profit. The RTP can be measured by the formula Amount Returned to Player / Amount Wagered by Player. Free slots gratis.
Payout Percentages Of Slot Machines At Different Casinos Real Money
When it comes to land casino slots, there are many factors that are taken into consideration before the slots hit the casino floor. In the USA location, competition, profit and state regulations can affect how and why a slot machine end ups with a certain payback percentage.
When land casinos purchase slot machines from the manufacturer, they order the slots with a set payback percentage. Similarly Online Casinos license the game software with a set payback percentage. Many Las Vegas casinos offer slot payback percentages in the 98% range while state operated and tribal casinos are in the 92% or lower range.
Today slots run on a network. Visit a land casino in the early morning hours and you can see banks of slot machines disabled while the slot techs swap out the cash boxes.
Years ago to change the RTP the slot would have to be opened and a new computer chip containing the RTP algorithm installed. However, back in 2006 some land casinos were experimenting with updating the slots payback percentage directly via a simple download from the network computer. Most likely that is how its done these days.
Many gamblers play online slots as they offer a higher slot pay back than most land casinos. Land-based casinos offer payout percentages in the range of 87% to 92% with some highly competitive areas like Las Vegas offer slots with a 98% payback.
Some of higher pay out slots are the video bonus slots available at Slots Village Casino and for classic or traditional slots Slotland Casino.
Many slot players believe it is the slot machines Random Number Generator (RNG) that determines the payback percentage, however this is incorrect, it is the reels or reel strips that determine payback percentage. The RNG just determines which combination of symbols the spin will stop on. Change the number of times a symbol appears on a reel and you've changed the slot machines payback percentage.
When a casino wants to change the payback percentage of a slot machine they change the reels or in the case of video bonus slots, the virtual reels.
Land slot machine manufacturers send their RNG algorithm to an independent lab for testing before releasing the machines to the casinos. Similarly the software makers of online casino games do as well.
The Random Number Generator (RNG) algorithm used in our recommended Real Time Gaming Casinos and recommended Playtech Casinos is tested for fairness and randomness by Technical Systems Testing. |
Technical Systems Testing (TST), is an internationally recognized accredited testing facility. Some of their clients include International Game Technology (IGT), Aristocrat, Mikohn and the Massachusetts, Michigan and Ontario Lotteries. In 2010 TST became part of Gaming Laboratories International (GLI).
Both online and land based casinos record every coin in, won and cashed out of a slot machine. Sometimes the casino floor technician needs to remove a jammed bill and the audit slip will print out. The audit slip shows the grand totals for the coins in, coins won and coins cashed out. By crunching these numbers you can get a good idea of the long-term payback percentage. However, this information is readily available if you know where to look for it.
Trusted online and land casinos hire or staff independent auditors to review this information monthly. For example Foxwoods Resort Casino publishes slot handle payback information in their array of Media Relations Press Releases and Mohegan Sun publishes Slot Machine Statistical Reports on their Investor Relations page.
Microgaming is one of the largest online casino game manufacturers and contracts the non-profit organization eCOGRA. (eCommerce and Online Gaming Regulation and Assurance) to review and certify their casino payback percentages. |
eCOGRA is the independent standards authority for the online gaming industry. eCOGRA helps players identify online casino and poker sites that are safe, fair and responsible. |
What does the eCOGRA Seal mean?The Play It Safe Seal is awarded to operators that fully comply with eCOGRA's strict standards for player protection, fair gaming and responsible operator conduct. Sites and their player policies are checked and rechecked on an ongoing basis to ensure their compliance with these standards, as well as your safety online. The Seal has become a homepage symbol of documented, objective, fair play. |
All our Recommended Microgaming Casinos display eCOGRA Seal of Approval on the bottom of their web sites. When you click on the icon you can see the certified monthly audit reports for their casino and individual game line up. |
Although playing a slot machine with the highest pay back percentage is recommended, it is not because you'll necessarily win more playing it, it is because it will eat through less of your bankroll, which in turn will give you more spins. By getting more spins out of a machine you'll increase the likelihood of hitting more winning combinations and perhaps walk away a winner.
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