Virtually anyone who visits a casino, even for the first time, is familiar with a slot machine and how it runs: just put in your cash , spin the reels and wait a few seconds to see if you win. It is not intimidating like blackjack 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 slot machines in the modern American casino.
The biggest money-maker for casinos is the slot machine 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 amount won by all of the states gaming hall was a little more than $7.8 billion. Of that amount, slightly more than $5 billion, or about 64 percent, was from slots.
With this in mind, you must ask yourself, can I really win money by playing slot machines? The answer is a resounding yes...and no. First the no part: to make a long story short 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 minimum amount to be returned is regulated. In Nevada the minimum is 75 percent and in New Jersey it is 83 percent. However, if you look at the percentage of slot payback for those particular states in this book you will see that the actual average payback percentages are much higher. In Atlantic City it is about 91 percent and in Nevada it is about 95 percent. Even though the actual paybacks 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 slot machine in Vegas you will lose 5?. It does not take a rocket scientist 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, your money will go farther in Sin City rather than Atlantic City, but the outcome will turn out the same way: you will leave with less than you came. You can get big bucks on slot machines by using a little smarts, practicing some money management and, mostly, having a lucky streak. First, the knowledge part. You need to know what kind of bettor you are and how much risk you are willing to bet. Do you want to go for the giant progressive jackpot that could make you a millionaire in an instant or would you be content going home just a few dollars ahead? by Steve Bourie
No comments:
Post a Comment