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- How To Win At Penny Slots
- Secrets To Slot Machine Winning
- Best Odds Of Winning Slots
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- Attempting to pinpoint the odds for slot machines is a daunting task. With such a variety of machines and games available, the odds can vary a great deal. Generally slots odds are expressed in the form of a payback percentage. The closer to 100%, the better for players.
How do odds work in slot machines? Unlike some other games, they’re fixed. However you play, the odds of winning do not go up or down, but always stay the same.
You can find slot machines in the airport, gas stations, and convenience stores. What is hard, though, is finding slot machines with the best payouts. After all, no one likes to go into a casino and lose $100 on the slots in 30 minutes. Slot machine: Megabucks slot machine. What’s better than winning a life-changing amount of money once? Well, winning it twice of course. That was the case for a 60-year-old woman who played on the Wheel of Fortune machine at Palace Station. She won $680,000 on her first win, before returning to play the slots titles in the same casino again.
Payout odds vary based on the machine. Two slot machines may look identical, yet may have different odds. So you can’t tell by the appearance of the machine.
The odds of hitting the top award vary greatly by machine, and may be as low as one in 17,000,000 spins – comparable to winning Lotto 6/49.
Tip
Over the long run, the machine is guaranteed to make money.
Slot Payouts
When playing slots, knowing the payback or payout percentage of various machines can help you understand your chances of winning.
- Every slot machine arrives from the manufacturer with a computer chip capable of pre-determining how much of the overall player spend the machine will pay back to players over its lifetime. Machines are set by the casino, also known as the house, to payback a certain percentage of coins played, including paying out the jackpot
- The pre-programmed amount that the house keeps is called the hold
The payback percentage, regulated by the Alcohol and Gaming Commission of Ontario (AGCO), is: Minimum: 85%
The payback percentage is meant to be representative of the machine’s entire lifecycle, which can be many millions of spins. When the payback percentage is 85%, this doesn’t mean that you can expect to win back $85 if you gamble $100 on that individual session.
The payback percentage doesn’t affect the short-term. Because of randomness, anything can happen when you play.
Compared to other casino games, slots favour the house more.
Payouts of different machines
It's easy to think the higher the “denomination”, the more a machine pays out - for example, that a dollar machine will pay more than quarter machines. In Ontario, this isn't always the case. Always check the paytable to know what a machine pays out.
OLG doesn’t have complete control over the payouts of slot machines. This is regulated by the Alcohol and Gaming Commission of Ontario (AGCO).
Casinos are not allowed to change a machine’s payout while someone is playing or winning on them, nor can they adjust machines during weekends.
How To Win At Penny Slots
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Ever since the 1980s, casinos have discovered that they make more profits off their slot machines than they do from their table games. This is just as true of online casinos as it is of land-based gambling halls. In Las Vegas, where free drinks and loyalty rewards have long been used as inducements for slot play, the latest promotional craze is bragging about payback rates. Where are the biggest jackpots being hit? Who can offer the best slot machine odds?
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If you listen to Las Vegas locals, they say never play the slots at casinos that line Las Vegas Boulevard. “Strictly for tourists,” they will tell you. Then, they’ll point downtown where many of the city’s oldest casinos are grouped within easy walking distance from one another and add, “The best payouts are along Fremont Street.”
But what do the actual numbers say? Is Vegas street wisdom to be believed? And what to make of claims made by casinos themselves? Who really has the loosest slots in town?
Downtown vs. the Strip
Overall, slots generate nearly 60% of Nevada’s annual gaming revenues and almost twice as much as table games. The Nevada Gaming Control Board breaks down its Las Vegas slot statistics in two major tourist areas: downtown and the Strip. Additionally, there is a large locals market, which reports of gaming revenue classify as the Boulder Strip and North Las Vegas areas.
In the full fiscal year between July 1, 2011 and June 30, 2012, the payback percentages for all slots in Clark County were 93.51%. By area, the downtown paid back 93.47% and the Strip returned 92.62%, so there is a certain ring of truth to the locals’ claim. However, what goes unsaid is that North Las Vegas slots returned 93.91% and the Boulder Strip slots paid back 94.76%, so the best advice is to avoid the tourist areas and play where the locals play.
Compared to fiscal 2011, all of the areas except the Boulder Strip showed a slight reduction in paybacks in 2012. Slots located along Boulder Highway paid out exactly the same year on year; they include the machines of such popular casinos as Sam’s Town, Arizona Charlie’s, and Boulder Station, to name a few.
Odds by Slot Type
The Gaming Control Board statistics also indicate which slots pay out the best in order of the denomination of credit played. In fiscal 2012, Megabucks progressive slots showed the worst payback percentage overall, just 87.16%. However, the appeal of a massive jackpot obviously outweighs the poor odds during hard economic times, as Megabucks revenues rose 59% versus fiscal 2011—the biggest gain among all types of slots.
At the other end of the spectrum, the very best payback percentages came from high roller slots. Those accepting denominations of $5, $25 and $100 returned 94.67%, 96.52% and 96.30%, respectively—proving once again that it takes money to make money.
For those whose champagne tastes come with beer budgets, the most fruitful games are on the nickel and quarter slots, which also include video poker machines of those denominations. Fully 94.48% of all 25¢ wagers were returned in fiscal 2012. Coming in right behind were nickel slots, paying back 94.40%.
Many slot players enjoy multi-denomination slots, which were a reasonably good bet in 2012 with a 94.65% payback rate. Meanwhile, dollar machines were not bad performers, yielding a 94.42% return of the cash invested. Much less favorable to players were penny machines, returning just 89.33%—the worst bet other than Megabucks.
What About Other Games
Secrets To Slot Machine Winning
If slots aren’t your cup of tea, and you much prefer real money blackjack, then visit our dedicated page to online blackjack. United States Blackjack typically affords better odds than the slots, especially if players are willing to learn card counting. Bet your real money wisely with the tips you garner from reading legitimatecasino.com.
Who’s Really #1?
For those looking for a specific casino to frequent or a certain machine offering the very best slot odds, it is hard to separate the hoopla from the reality. The Gaming Control Board statistics do not reveal the results casino by casino or machine by machine. And the claims made by the casinos themselves have to be taken with a grain of salt.
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For example, in 2010 the Palms Casino Resort launched a massive advertising campaign based upon the results of an “independent survey by the Las Vegas Advisor (that) indicates Palms’ slots and video poker returns are better than the average payback percentages in Nevada.” Their claim was that Palms’ slots were “28.278 percent looser than Clark County and 36.856 percent looser than the Strip.”
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Not to be outdone, in 2011 the downtown’s El Cortez Casino shot back with advertising claiming that their slots were “39% looser than the Strip,” implying looser than the Palms’ slots by inference. Most lists of “hot slots” in Las Vegas mention the two properties as #1 and #2, but with three Megabucks jackpots awarded since 2004, perhaps the Palms deserves a slight edge. The El Cortez has paid no Megabucks winners to date.