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Slot machines are easy to play, but you shouldn't do so blindly - read our
slot machines primer.
Although they are the most popular form of gambling in the world, most people
ignore the inner workings of the slot machines in favor of simply enjoying them.
Experts agree however, that your pocketbook will benefit if you learn at least a
little about payback percentages and slot machines.
It is important to understand the concept of payout percentages when playing
the slots. In one way, it's very easy to visualize the payout percentage of a
machine as being the compliment of the house edge. Slot machines with a posted
95% payback could be called machines with a 5% house edge. A 90% slot machine
has a 10% house edge.
There is a difference though between how a slot machines payout percentage
applies to your play, and how the house edge applies to a table game's play.
Imagine you are playing a $1 slot machine, starting with $100. Playing this
money through you might end up with 120 credits on the machine. For this segment
of your play the payback percentage is 120/100, or 120%. If lets say you now
play that $120 through the machine, and you only end up with $78 after 120
tries. The machine, since you started playing initially has taken in ($100 +
$120) and given up ($120 + $78) for a payback percentage of 198/220 or 90%. You
continue to play and put your remaining $78 dollars through; this time you have
$70 remaining. The machine still calculates (120 + 78 + 70) / (100 + 120 + 78) =
268/298 = 90%.
The above example is not very unrealistic, just because, in real life, slot
machines exhibit a more volatile payout percentage than this. The unfortunate
thing about slots is that you can continue to play according to the above
example and experience a low payout percentage. Over time, this will slowly eat
away at your bankroll. However, hitting a pocket of money from a single spin
part way through your play can bring the payback percentage for your session
back up to well above 100%, and this is generally the point that you stop
spinning. The more tries you take, the better your chances of hitting a bell
ringer and winning much more than you started with. To maximize your advantage
over the house, try and stop playing after a bell ringer and keep the payout
percentage over 100%.
The volatility of the payout percentage is what makes slot machines popular,
because they ensure that some lucky players can score big. But remember,
increasing volatility reduces the effective payback percentage over typical
playing periods, so you can't always expect to win. Some sessions will run
through your bankroll without the bells. Most slot players won't stop with a
moderate win. Instead, they will keep going, hoping for a nice big hit. If this
is your playing style, maximize your chances by getting the most play from your
bankroll. Weigh the value you place on the possibility of hitting a larger
jackpot by playing with maximum coins against how long you want to stretch your
entertainment dollars.
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