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Slot Machine Odds
What are the true odds ask?
What are the true odds you ask? An interesting phenomenon with slots is that the odds do change, depending on the denomination of the bet. Playing at a higher wager lever in any other game (such as blackjack, craps, or roulette) makes no difference to the odds, but it does at slots! It is a fact that $1 machines payout more than the 25¢ ones. Dollar slots pay more than the 25¢ machines, and the $5 machines have even higher payout rates. In general this rule is more applicable to land-based casinos as opposed to virtual casinos. Management is well aware of this and they are not plotting against you or shifting the odds in the houses favor. Since every machine takes up the same amount of floor space and they all require the service of a mechanic and a change person, each machine costs the same amount to operate. Online casinos differ because they are virtual and require no servicing or maintenance so they can offer better odds then land based casinos and still stay in business on a 2% margin if the slots payout percentage at the online casino is say 98%.
Land-based casino slot machine fact: If the casino takes in more money on the dollar machine than on the 5¢ machine they can afford to be more generous with their payoffs. And they are. Research shows that the higher the denomination, the higher the payout.
The Real Land Based Casino Payout's:
In the state of Nevada, the Gaming Commission requires that slot machines pay out a minimum of 75 percent. The New Jersey Casino Control Commission directs Atlantic City casino slots to payout out at least 83 percent. However, the actual payback percentage for those particular states is much higher. In New Jersey it's about 91 percent, and in Nevada it's on the order of 95 percent. This means that, on average, for every $1 you play at the slots in Atlantic City, You'll lose 9¢; in Las Vegas you'll lose 5¢ on ever dollar. Other states and countries set their own standards for machine payouts.
Virtual Casino Payout's:
The payout benefit to playing online in general is a couple points above what you'd find even at the highest payout Las Vegas Casino. Online casinos do publish this information and make it available to the public usually via a link directly off the homepage of their site. Although most virtual casinos are operated off-shore and don't have the benefit of being audited by the gaming commissions, like land-based casinos do, they are audited by large accounting firms such as, PriceWaterHouseCoopers, who ensure the payout's are accurate. Most online casinos payout between 96 - 99%, depending on the casino.
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