FINDING THE BEST SLOT MACHINE. Since 18% of the slot's overall payback is represented by this jackpot, in simple terms, by not hitting the jackpot, our return will be reduced by 18%, a large percentage of the expected payback. We discussed locations of slots in a general way in the previous chapter.
Slots are the easiest games in the casino to play -- spin the reels and take your chances. Players have no control over what combinations will show up or when a jackpot will hit. There is no way to tell when a machine will be hot or cold. Still, there are some pitfalls. It's important to read the glass and learn what type of machine it is. The three major types of reel-spinning slots are the multiplier, the buy-a-pay, and the progressive.
The multiplier. On a multiplier, payoffs are proportionate for each coin played--except, usually, for the top jackpot. If the machine accepts up to three coins at a time, and if you play one coin, three bars pay back ten. Three bars will pay back 20 for two coins and 30 for three coins. However, three sevens might pay 500 for one coin and 1,000 for two, but jump to 10,000 when all three coins are played. Read the glass to find out if that's the case before playing less than the maximum coins on this type of machine.
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The buy-a-pay. Never play less than the maximum on a buy-a-pay, on which each coin 'buys' a set of symbols or a payout line. The first coin in might allow the player to win only on cherry combination, while the second coin activates the bar payouts, and the third coin activates the sevens. Woe is the player who hits three jackpot symbols on a buy-a-pay with only one coin played--the player gets nothing back. A variation is the machine with multiple payout lines, each activated by a separate coin. All symbols are active with each coin, but if a winning combination lines up on the third-coin payout line with only one or two coins played, the payoff is zero.
The progressive. You also have no reason to play less than maximum coins on a progressive machine. A player who eventually lines up the jackpot symbols gets a percentage of each coin played. The first progressive machines were self-contained--the jackpot was determined by how much that particular machine had been played since the last big hit. Today most progressives are linked electronically to other machines, with all coins played in the linked machines adding to a common jackpot.
These jackpots can be enormous -- the record is $39,710,826.26, a $1 progressive at a Las Vegas casino. The tradeoff is that frequency and size of other payouts are usually smaller. And you can't win the big jackpot without playing maximum coins.
If you must play fewer than maximum coins, look for a multiplier in which the final-coin jump in the top jackpot is fairly small. Better yet, choose a machine that allows you to stay within your budget while playing maximum coins. If your budget won't allow you to play maximum coins on a $1 machine, move to a quarter machine. If you're not comfortable playing three quarters at a time, move to a two-quarter machine. If you can't play two quarters at a time, play a nickel machine.
With so many paylines and the possibility of betting multiple coins per line, video slots are different. Some penny slots with 20 paylines take up to 25 coins per line. That's a $5 maximum bet -- a pretty penny indeed! Most players bet less than the max on video slots but are sure to cover all the paylines, even if betting only one coin per line. You want to be sure to be eligible for the bonus rounds that give video slots most of their fun. Some progressive jackpots require max coins bets, and some don't. If a max-coins bet is required to be eligible for the jackpot and you're not prepared to roll that high, find a different machine.
Money Management
Managing your money wisely is the most important part of playing any casino game, and also the most difficult part of playing the slots. Even on quarter machines, the amount of money involved runs up quickly. A dedicated slot player on a machine that plays off credits can easily get in 600 pulls an hour. At two quarters at a time, that means wagering $300 per hour -- the same amount a $5 blackjack player risks at an average table speed of 60 hands per hour.
Most of that money is recycled from smaller payouts--at a casino returning 93 percent on quarter slots, the expected average loss for $300 in play is $21. Still, you will come out ahead more often if you pocket some of those smaller payouts and don't continually put everything you get back into the machine.
One method for managing money is to divide your slot bankroll for the day into smaller-session bankrolls. If, for example, you've taken $100 on a two-and-a-half-hour riverboat cruise, allot $20 for each half-hour. Select a quarter machine -- dollar machines could devastate a $100 bankroll in minutes -- and play the $20 through once. If you've received more than $20 in payouts, pocket the excess and play with the original $20. At the end of one half-hour, pocket whatever is left and start a new session with the next $20.
If at any point the original $20 for that session is depleted, that session is over. Finish that half-hour with a walk, or a snack, or a drink until it is time for a new session. Do not dip back into money you've already pocketed.
That may seem rigid, but players who do not use a money management technique all too frequently keep pumping money into the machine until they've lost their entire bankroll. The percentages guarantee that the casino will be the winner in the long run, but lock up a portion of the money as you go along, and you'll walk out of the casino with cash on hand more frequently.
That is changing in new server-based slots that have started to appear in casinos. Operators will be able to change payback percentages at the click of a mouse, but they still must have regulatory approval to do so.
There is a lot more to slot machines than meets the eye. But if you learn the ins and outs of playing them, you can use some strategies that just might help you hit the jackpot.
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Remember the movie National Lampoon’s Vegas Vacation, when gambling fever consumes Chevy Chase’s character, Clark W. Griswold? He goes on a losing streak to beat all losing streaks while his son, Rusty, wins four cars by playing the slot machines. Maybe Clark would have done better if he had read Probability For Dummies! In this article, you discover the basic ideas behind slot machines and how they work, so that you can get past the myths and develop a strategy based on sound probability.
Best Way To Pick A Winning Slot Machine
Understanding average payout
When casinos advertise that their slot machines pay out an average of 90 percent, the fine print they don’t want you to read says that you lose 10 cents from each dollar you put into the machines in the long term. (In probability terms, this advertisement means that your expected winnings are minus 10 cents on every dollar you spend every time the money goes through the machines.)
Suppose you start with $100 and bet a dollar at a time, for example. After inserting all $100 into the slot, 100 pulls later you’ll end up on average with $90, because you lose 10 percent of your money. If you run the $90 back through the machine, you’ll end up with 90 percent of it back, which is 0.90 x 90 = $81. If you run that amount through in 81 pulls, you’ll have $72.90 afterward (0.90 x 81 = 72.90). If you keep going for 44 rounds, on average, the money will be gone, unless you have the luck of Rusty Griswold!
How many pulls on the machine does your $100 give you at this rate? Each time you have less money to run through the machine, so you have fewer pulls left. If you insert $1 at a time, you can expect 972 total pulls in the long term with these average payouts (that’s the total pulls in 44 rounds). But keep in mind that casinos are designing slot machines to go faster and faster between spins. Some are even doing away with the handles and tokens by using digital readouts on gaming cards that you put into the machines. The faster machines can play up to 25 spins per hour, and 972 spins divided by 25 spins per minute is 38.88 minutes. You don’t have a very long time to enjoy your $100 before it’s gone!
The worst part? Casinos often advertise that their “average payouts” are even as high as 95 percent. But beware: That number applies only to certain machines, and the casinos don’t rush to tell you which ones. You really need to read or ask about the fine print before playing. You can also try to check the information on the machine to see if it lists its payouts. (Don’t expect this information to be front and center.)
Implementing a simple strategy for slots
Advice varies regarding whether you should play nickel, quarter, or dollar slot machines and whether you should max out the number of coins you bet or not (you usually get to choose between one and five coins to bet on a standard slot machine). In this section, you’ll find a few tips for getting the most bang for your buck (or nickel) when playing slot machines.
Basically, when it comes to slot machines, strategy boils down to this: Know the rules, your probability of winning, and the expected payouts; dispel any myths; and quit while you’re ahead. If you win $100, cash out $50 and play with the rest, for example. After you lose a certain amount (determined by you in advance), don’t hesitate to quit. Go to the all-you-can-eat buffet and try your luck with the casino food; odds are it’s pretty good!
Choosing among nickel, quarter, and dollar machines
The machines that have the higher denominations usually give the best payouts. So, between the nickel and quarter slots, for example, the quarter slots generally give better payouts. However, you run the risk of getting in way over your head in a hurry, so don’t bet more than you can afford to lose. The bottom line: Always choose a level that you have fun playing at and that allows you to play for your full set time limit.
Deciding how many coins to play at a time
When deciding on the number of coins you should play per spin, keep in mind that more is sometimes better. If the slot machine gives you more than two times the payout when you put in two times the number of coins, for example, you should max it out instead of playing single coins because you increase your chances of winning a bigger pot, and the expected value is higher. If the machine just gives you k times the payout for k coins, it doesn’t matter if you use the maximum number of coins. You may as well play one at a time until you can make some money and leave so your money lasts a little longer.
For example, say a quarter machine pays 10 credits for the outcome 777 when you play only a single quarter, but if you play two quarters, it gives you 25 credits for the same outcome. And if you play the maximum number of quarters (say, four), a 777 results in 1,000 credits. You can see that playing four quarters at a time gives you a better chance of winning a bigger pot in the long run (if you win, that is) compared to playing a single quarter at a time for four consecutive tries.
The latest slot machine sweeping the nation is the so-called “penny slot machine.” Although it professes to require only a penny for a spin, you get this rate only if you want to bet one penny at a time. The machines entice you to bet way more than one penny at a time; in fact, on some machines, you can bet more than 1,000 coins (called lines) on each spin — $10 a shot here, folks. Because these machines take any denomination of paper bill, as well as credit cards, your money can go faster on penny machines than on dollar machines because you can quickly lose track of your spendings. Pinching pennies may not be worth it after all!