Slots and How to Hit the Jackpot

Posted: 14/05/2008 |Comments: 0 | Views: 179 |

Virtually anyone who goes to a casino, even for the first time, can play the slots and how it runs: just put in your money , give it a whirl and wait a few seconds to see if you win. It is not intimidating like table games where you really need some know how of the rules before you play and it is this basic simplicity that accounts for much of the success of the one-armed bandit in US casinos today.

The one-armed bandit makes most of the money for the casino with approximately 60 to 65 percent of the average casinos profits being generated by slot machine play. As an example, in Nevadas fiscal year ending June 30, 1998 the total win by all of the states gambling palaces was a little more than $7.8 billion. Of that amount, slightly more than $5 billion, or about 64 percent, was from one-armed bandits.

With this in mind, you must ask yourself, can I really win money by spinning the reels? The answer is a resounding yes...and no. First the no part: to put it simply a slot machine makes money for the casino by paying out less money than it takes in. In some states, such as Nevada and New Jersey, the lowest possible payout is regulated. In Nevada the minimum is 75 percent and in New Jersey it is 83 percent. However, if you look at the amount of slot returns for those particular states in this book you will see that the actual average payback percentages are much higher. In Jersey it is about 91 percent and in Nevada it is about 95 percent. Even though the monies you win are higher than the law requires, you can still see that on average for every $1 you play in an Atlantic City slot machine you will lose 9? and in a Vegas slot you will lose 5?. You do not have to be a genius to see that if you stand in front of a slot machine and continue to pump in your money, eventually, you will lose it all. On average, it will take you longer to lose it in Vegas Slot Heaven rather than Atlantic City, but the outcome will turn out the same way: losing money will happen.
You can get cash on slot machines by using a little know-how, practicing some money management and, mostly, having a lucky streak. First, the knowledge part. You need to know what kind of gambler you are and how much risk you are willing to take. Do you want to go for the multi-million dollar jackpot that could make you a millionaire in an instant or would you be content walking away with a few more bucks in your pocket?

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