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***SLOTS ARTICLES*** |
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What you should know about slot machines
[Thursday, September 14, 2006]
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How often have you read something about slot machines that really helps you to improve your chances of winning? Here's one.
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Let's start with the casinos pocket. Online and offline casinos get most of their profits (over 60%) from 'electronic machine winnings' which in most cases are slots. These machines give the casinos a generous house advantage over you, the player. Thats why you see slot machines everywhere.
No doubt you're familiar with the classic slots player, armed with a pile of coins, who almost mechanically feeds the machine like a junkie. Insert coin, pull handle, spin reels, win or lose, insert another coin. There's no skill required it's just a question of luck which is why so many people like to play slots. But we say "at least play smart!"
There are two main things you can do: understand how long it will take you to lose, and what may help you to win.
Will you lose quickly or slowly?
The reason that slot machines make money for their owners is that they always pay out less money than they collect. If you check out the slots payback percentages in several casinos, you may well find a variance of 92-95%. But that leaves 5-8% for the casino. Imagine a bucket with a small leak. Eventually it loses all its original content of water. In the same way, if you keep feeding the machine with money, you will eventually lose it all.
The other piece of the puzzle has to do with the Random Number Generator (RNG). This is a computer chip, inserted into the slot machine (or code included in online software) that controls the payback percentage. If you play Austin Powers slots, you may find that it has a payback ranging from 88% to 98%. Why? This is because the casino can choose what payback to give each machine and game. Twenty different slot games in a casino can have any one of ten different RNG chips in them, each one programmed to deliver a different payback percentage.
Does it matter if you play with nickels or dollars?
Sure it does. When you play a machine with a higher denomination (say $5 per game) you will get a higher payback percentage than with small change machines (25 cents a game). How can you find what these percentages are? You need to research various gaming publications first. In other words check things out before you start throwing your cash around.
Techniques that can help you win
Imagine a triangle with the word 'slots' in the middle and 'knowledge', 'money management' and 'luck' marking the three points. You need to apply all three in order to win at slots.
Knowledge: Do you know, for example, that wide-area progressive slots games have lower payback percentages than non-progressive machines accepting the same denomination payments? A game accepting $1 units may provide 89% payback for Progressives as opposed to 95% for a Regular game. So use only a small part of your bankroll to chase the big jackpot. Check out whether the 'big payout' comes to you in one lump sum, or is paid to you over many years
If you have a two-coin machine (offline), check its payment schedule to see whether using a double coin bet is to your advantage. The maximum single payout may be 500 coins for 1 coin. If it is 1200 coins for two coins, you have a 200 coin advantage. But if a two-coin bet can give you just 1000 coins back, theres no reason to double your risk.
Whenever you can, join a 'slots club', which can give you complimentary points whenever you play. Online, these comps will count towards extra gambling dollars. Offline, they can be worth cash, food, entertainment or even hotel rooms. However, dont get carried away with comps, because casinos pay you for the amount of money you spend. The largest losers get the largest comps.
Money management: Slots is all about luck, but you still have an element of control. You are the one who decides when to stop playing. Try to develop the discipline that when you win, you DON'T feed your winnings back into the slots machine. You can determine a winning goal of 25% of your bankroll. If you start with $500, you should stop when you have won $125. After you win, take a break and do something that is 'not gambling'. If you decide to return to the slots machine, risk only half of your winnings. Also, shift down to a smaller denomination machine. From $5 a game, move down to $1 a game. From $1, go down to quarters.
Luck: As we said earlier, some casinos give higher paybacks and some games are also programmed for large percentage paybacks. These are the places where you want to play. At least in this way, you will slow down the rate at which you lose. There are a few ways to determine whether you are on a 'good and generous' game or a 'bad and stingy' one.
Firstly, keep a record of exactly what you pay in and what you get back. Divide your money into equal piles so your 100 coins will be organized in five piles of 20. After playing 20 coins, see how many coins you have. If you have more than 20 coins, keep playing. If you have fewer coins, move to a different machine or game.
Secondly, count how many times you lose. If you have lost three times in a row, then move onto another machine, because it is in 'losing mode'. At some point you will find a machine that is in 'winning mode'.
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