Slot Machine Odds and Payouts

Most people believe the odds on a slot machine have something to do with the number of each kind of symbol on each reel, but in modern slot machines this is not the case. Modern slot machines are computerized, so that the odds are whatever the casino programs them to be within the guidelines of the regulatory agency. Modern slot machines use a Random Number Generator to determine the positions the reels will stop on and payouts are also pre-determined.

The payout percentages in slot machines in casinos are regulated by law in the casinos gaming jurisdiction and closely monitored. Slot machines are usually programmed to pay out as winnings 82?€“98% of the money that is wagered by players and each jurisdiction sets a minimum payout. For example, the minimum payout in Nevada is 75%, and in New Jersey, 83%. If a slot machine is set at 95% payout, this means that over the course of players putting 1 million dollars into the machine, 950,000 dollars will go back to the players as winnings and 50,000 dollars will go to the house. Typically casinos will advertise something like “95% PAYOUT FROM OUR HIGH PAYING SLOTS.” However, there may be only a few of these 95% payout machines in a bank of 100’s of machines and it is up to the player to find them.

A major factor in making slot machines so profitable for the house is that the player has no control over what kind of payout they will be playing for after they pull the lever or press the button. In other Casino games like Craps the player knows what a wager will offer and what that wager will pay in advance and may pick and choose which wagers to make. As of the current time, slot machines do not offer the player the same betting options as other casino games and this puts the odds strongly in the houses’ favor.

Typical slot machine payouts are preset and depend on the number of coins bet. On a regular slot machine, one coin bet may payout 30 coins, two coins bet may payout 60 coins and 3 coins bet may payout 90 coins. The variety of payouts is so great that it is advised the player look over the machines in a casino and pick one that offers the game play and payout they find most appealing.

Another popular type of slot machine that offers the chance for huge payouts is Progressive Slot Machine. Progressive slot machine are a group of slot machines, sometimes even in different casinos, that have been networked or linked together. The Jackpot is pooled between all the machines until the winning combination is played and some progressive jackpots have been as high as 35 million dollars or more. One can win the jackpot on any of the machines in the network of machines. Imagine being able to win a million dollars for a 25 cent bet and you will begin to understand the amazing popularity of progressive slots.

Video Slot Machines

Video Poker is a variation of the Reel based Slot Machine usually based on 5-card draw poker. Video Poker is played at a machine with an electronic display. Video Poker is a single player form of poker and is found by many to be more fun and less intimidating than playing poker at a table with a group of other players. As in regular poker, in video poker, the machine deals the player a five card hand. The player then may keep or discard and replace his cards. After the draw, winning hands are payed out on a pre-determined schedule.

On some machines a special hand, like a royal flush will offer a very high payout or may offer a progressive jackpot until that hand is hit. Video Poker has become very popular in Online Casinos and among Classic slot machine players in live casinos. It should be noted that as with Classic Slot machines, in video poker, betting the maximum credits will give the maximum payout.

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