What Is An Automatic Loss On Slot Machines

We help you understand the odds and point you to the best paying slots in Las Vegas. Pay the Max, Win the Max. If you’re not already familiar with slot machines, they usually work by the player activating the game with a lever or button or pulling the arm to spins a set of reels with different symbols on them. Slot Machines of the Future The lifespan of slot games has changed in the video slot age. Because the popularity of video games can peak and decline within a matter of months, casino operators who wanted to offer their customers the latest video slots had to spend a lot. Modern slot machines develop an unbreakable hold on many players—some of whom wind up losing their jobs, their families, and even, as in the case of Scott Stevens, their lives. Found money in casino do i have to give it back legally? I found a $970 slot machine voucher in pennsylvania and cashed it in and went back home in ohio, later a deputy called and asked me to send it back to the casino because they had me on surveillance, legally, do i have to return the money or not?

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.

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!

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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!

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Mike: Hi, I'm Mike Shackleford with the wizardofodds.com website. And I'm here with Angela Wyman. And Angela, I believe you have some questions about slot machines for me.

Angela: I do, I have several questions about slot machines for you.

Mike: I'm all yours.

Question 1 - [00:18]

Angela: All right. So as a newcomer to the slot machines, what is the first thing you can tell me about, how I go about finding a good machine, where would I go? Do I look on the strip, do I look downtown? Where are the best slot machines to start with?

Mike: As a rule of thumb, the nicer the casino, the stingier the slots. So, I'm sure you want to play in a nice casino. But you have to recognize that there's a price for that. And generally, they set their slot machines tighter. If you want the better odds, as a rule of thumb, the further away you get from the strip, the better your chances get. I also want to say that while you can't look at the slot machine and tell if it's stingy or loose, I believe that – if a casino sets their video poker loose, they're probably going to have loose slots as well. And video poker is quantifiable, you can look at the pay tables and see if what they expected return is, if you use a website like mine for example, 9/6 Jacks or Better is 99.54%. Show me a casino that has lots of 9/6 Jacks and I'll show you a casino that has lots of, of loose slots as well.

Question 2 - [01:43]

Angela: Wow. Are you allowed to name names and give me any suggestions of what casinos are generally doing that have looser slots?

Mike: Well, in 2001, I surveyed the whole city of Las Vegas for who had the loosest slots. And I use PAR sheets to do this. And by looking for certain patterns in the machine, I was able to identify what return the machines were set to. And the loosest casino in Las Vegas at the time was the Palms. And there we have a casino that's off the strip. And they had great video poker as well. Now this was ten years old, I've never repeated the survey, the casinos under new management. So, I make no promises about what they're doing now.

But now you asked about downtown earlier, downtown, it used to be a great place for odds, not so much anymore. I think that if you go to any casino off of the strip and off of downtown, you're probably going to get pretty loose slots. Namely all the Coast Casinos, Station Casinos, Fiesta Casinos, the South Point, the M. These casinos are all very competitive for the locals’ market. And they know the locals are picky about the odds and returns. So, they tend to set their machines looser than the strip where they don't get such a loyal clientele.

Question 3 - [03:18]

Angela: Okay. Well, once I've identified the casino I want to play and definitely off strip and getting to a local clientele, how do I go about picking a machine?

Mike: That's a good question. I would say, you should stay away from a machine that has big fancy signage, like enormous screens, a lot of fancy sounds and chairs that move, all that stuff, ultimately cost money and it ultimately- they get it by tightening the odds. But sometimes when I play that, say that, people say, “But Mike, those games are so much more fun.” That's a good point. If you're willing to pay more for the additional experience, go ahead, it's supposed to be for entertainment anyway. But if you don't really care what particular machine you're playing, you just want the best odds play just a simple machine with no fancy sign or graphics, just keep it simple.

Question 4 - [04:23]

Angela: So, if I picked a nice simple machine to go play, no bells and whistles, at a casino that's friendly to me, should I sign up for that casino's Players Rewards Card, is that help me or hurt me?

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Mike: Absolutely, it helps you. No ifs, ands or buts. If you're going to play anything in the casino, including the table games, definitely go to the player club, sign up for a card and use it. When you put it into that machine, it's going to track all your play, it's going to give you points. And every casino in town as far as I know, you can use those points for free play, for casino purchases, some places will give you cash directly. And not only that, they will send you offers. And casinos love slot players, that the best, they are treated like royalty compared to all other players. A $1 slot player will get treated better than a $100 blackjack player.

So, if the more money you run through it, the better your offers will be. And I'm not saying to play the machines hard for that reason. I'm just saying that if you're going to play anyway, you may as well get rewarded for it. So always use your player card. And always when you sit down, it should be a habit. Make sure you put it in, there have been times where I forgot to put my card in and played for five minutes without being tracked. And I just wanted to kick myself because it was just like wasted play because the casinos, they will reward you so well for a slot machine play.

Angela: Getting those biggest rewards is a huge part of the Vegas experience, people want the free buffets and the free show tickets and a cost that come with it.

Mike: Absolutely.

Question 5 - [06:06]

Angela: So now you're saying the money you run through with it, is directly tied to that. How does that comping work? How do you know what to expect and where do you go to find out what the casino is going to give you? Is there someone you ask, is there a desk?

Mike: Absolutely, you can ask any question you want at the player club desk and every casino has one. It doesn't mean that they're going to answer your question correctly or at all. If you ask them a tough question like, how do you earn points playing bingo. Maybe they're not going to know. And some casinos have very complicated programs like, there is Total Reward Program is extremely complicated. But it never hurts to ask whatever question you may have.

Question 6 - [06:53]

Angela: All right. Well, I want to go back, more specifically to the slot machines. And a few more things that I've heard about them that maybe you can clarify for me. So, I'm trying to earn all these points and get my comps, I've heard and tell me, if this is urban myth or not. But that the casinos can actually tighten or loosen slot machines remotely. One is that true, and if so, can they do while I'm actually playing?

Mike: That's a good question. What you were referring to is a technology called Server Side Gaming. And it used to be and the way it still is right now 99% of the time in Vegas, that if the casino manager wants to be the loosen or tighten the game, he has to open it up and change what's called an EPROM Card. That stands for Erasable Programmable Read Only Memory.

So, take out the loose card, put in the tight one. He has to actually- basically unlock the machine and make a change. And he also has to fax in a form to the Gaming Control Board because the gaming police here in Nevada, have a right to know what every single machine in town is set to. And they do spot inspection random, inspections to make sure that the casinos are giving them the right information.

Now there is a new technology that saves the casino time. No longer do they have to actually find the key, open up the machine and change the return manually, now it can be done remotely, say at the computer of the Slot Director's desk. Now you may wonder, maybe he doesn't like me, maybe I'm wearing a polka dotted hat and he hates it and he's going to changed- tighten the odds while I'm sitting there playing. Is he allowed to do that? No.

I don't know the exact specifics but I believe that the machine has to have been unplayed for a certain period of time like 15 minutes before they're allowed to change it. So, if it's actively being played, the casino is not able to change the return of that game.

Question 7 - [09:06]

Angela: Well, can the machines change it themselves, so that's about someone from the casino, the human element changing it. But I've heard a lot of the machines, they start out very loose to suck you in and then they tighten up and that will be something actually in the program, is that true?

Mike: That is basically an urban myth. The way it usually goes, is that the machine goes through loosen, tighten modes to play on your psychology. Usually people believe, that when you first sit down, the machine is going to be loose for a few minutes to give you a good experience and then tighten up once you're already comfortable and like the game. It's not true.

If a slot machine is set to say, pay 94%, that's what it's going to theoretically pay all the time. Now of course that doesn't mean that every single hour or day, it pays back 94% of all money bet, it's just a theoretical long-term average. There is no loose and tight modes to a game to it, it's the odds are always the same, unless, they physically change or not physically. But they either change the EPROM Card or change the return from a computer. It's not preprogrammed to go through these cycles.

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Question 8 - [10:29]

Angela: So, you're telling me there's no truth to the myth that the machines run hot or run cold or it's been running cold for so long, it's due to hit, that's not true either?

Mike: That's exactly what I'm saying. A machine is never over due to hit. It's commonly believed that I've been feeding money into this game all day long and it's taken all my money but it's due to hit. No. I'm sorry, slot machine is never over due to hit, your odds of hitting a high pay are just as good, if it has- if you haven't hit anything all day long, as if the jackpot was just hit the last min.

Angela: Well, that's kind of disappointing, [chuckles] I was hoping I could go find that cold machine out when someone walked away from it. [laughs]

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Mike: No. And what you say is true, is you see these vultures roaming around the casino, looking to take over a machine that where somebody has been playing and ran out of money, thinking that, oh, it's overdue to pay off. Sorry, it's not true. And another thing that you often see happening is a player will play at a particular machine all day long, ask a slot attendant or lean the chair against the machine to try to save it because they need to eat lunch, go to the bathroom or something. And then somebody else plays it and hits the jackpot and then they sue the casino. Saying, that jackpot should have been mine and it's their fault that they let somebody else play it. Sorry, it wasn't overdue that player just happened to play it at just the right moment and they got it. It's not like the jackpot was sitting there waiting to happen. Not that you asked but the way a slot machine determines what happens, is that the moment you press that spin button, the game chooses random numbers, it assigns those random numbers to positions on the reels and then stops the reels on, according to those random numbers and then pays you according to how according to the symbols on the reels. So, what determines what you win is exactly that moment that you press the button.

Question 9 - [13:02]

What Is An Automatic Loss On Slot Machines Machine

Angela: I want to go back to something you mentioned in that answer. And you brought up slot attendance. And I know more and more of the casinos now you see, the automatic machines but in places where they still have actual human beings walking around taking care of that. What's the proper tipping etiquette?

Mike: That is a good and a very controversial question. Now, this town runs on tips. Practically anybody you're supposed to tip. Now with slot machines, it's the law that any jackpot of $1200 or more requires a-- it's a necessity that somebody come out, pay you on cash, ask for your Social Security number and they're going to give you what's called a W-2G Form, so you can declare the win on your taxes. So as long as somebody is coming and paying you the money, they'll sit there and counting out the bills. And let's say that you won $2000, I can almost guarantee that they're going to give you 1900 in hundreds and the last hundred is going to be 20s and maybe 10s. And of course, they're doing that to shake you down for a tip. And you should tip.

Every time this comes up in the forums, there's always a big debate about it but in my opinion, 1% is a good number. And if you hit something really big, like say a 100,000, where 1% would be a 1000, then even less than 1%, maybe half a percent.

Angela: Okay. That all seems to make sense. [giggles] Now I feel I have a better understanding of how to go about playing the slots and not totally getting taken. [laughs]

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Mike: Well, I really appreciate your questions.

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Angela: Well, thank you very much, Mike.