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Slot Machine Odds, Probabilities and Payback Percentages

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One of the most misunderstood concepts for slot players is the odds of a slot machine. Slot machine odds, and casino house edge will either make or break any casino player. In this article we focus on how to find the odds on a slot machine, slots with the best odds and what the payout percentage really means.

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Slot machines are well known for its popularity as the ultimate game of chance. Whether you are playing in a traditional casino hall or online, still there is no difference. Many people play slots because of the entertainment this game brings and of course a very promising jackpot prize. However, a lot of gamblers does not pay attention to the payback percentage of slots. Understanding slot mechanics could be a really big help in increasing your chances of winning. For a noteworthy game, it is essential to understand what are the basics.

Payout percentage is the term used to determine the percentage of payout of a slot machine based on the total amount collected by the machine. Payback percentage relates to the total net winnings of the game or also called the house edge. For instance, a slot machine has a 94% of payback percentages then the house edge would be 6%. the house edge is well publicized in most online casino. Table games such as blackjack also publishes the house edge of the game.

However, there is a little difference in how the payback percentage of slot machine apply to the expected winnings of the player as compared to the house edge of blackjack or other table games. For instance, when you play the 5-c slots in which the initial bankroll is $50 and as the game ends you have a credit of 60 in the machine. The payback percentage for this session is 60/50 which is equivalent to 120%. Then you continue playing with your credit which is $60 and then after 60 spins your bankroll ended up to $38. Starting from the point where you began playing, the machine has already taken ($60+$50) and the payback is ($38+60), this is equivalent to 99/110 which is 90%. As you keep playing with your balance of $39 and later end up with a bankroll of $35, the payback will then be calculated as (35+39+60)/(39+60+50) which equates to 134/149 which yields to an equivalent of 90%.

The example stated above is very realistic in a slot machine. Unfortunately, for a slot machine game, the more that you keep on playing, your payback percentage gets lesser and so as your bankroll. So, the best advice for slot players is to stop playing once you've already hit the jackpot and always have self-control. Only gamble the money that you can afford to loose.

For starters, it is more than just your winnings; you will notice percentage (%) values.

Lets say the casino you are playing at displays an overall casino payout of 95%. Contrary to what many people think, it does not mean you will win 95% of the time. It means that out of a $100 wagered on the game – for a specific range of time, or the game’s life-span (like with slot machines) – a player will be paid out $95. As you can see, it could be any player, and in a very long time range.As a rule of thumb, any casino below 90% is not trust-worthy, or at least not worthy of your money and time.

Along with the overall percentage, there is also a payout for each game. The higher the percentage, the higher the payout for the player, and of course, the lower the earnings for the casino (the House).

Be careful though… just because a specific game has a high percent, it does not mean you should go crazy on it playing all your money for a hopeful win. One thing to keep in mind is that even though the best odds slots payout more, the odds might still be high; it also means that the game is a higher limit game in which you will have to gamble higher amounts of money, equating to a faster loss of chips, and probably less of a fun time.

The best recommendation is always to stay within budget, play smart, and have fun.

Playing smart does help… if you play within the game’s strategy, you should be able to alter the payout, and get better odds for you – such is done with card counting. Slot players should understand that there is no winning slots strategy. It's basic common sense that a slot machine is random, therefor you can't beat the system even if the slot machine payout percentage is high.

Ticket and electronic games (keno and slots) have lower payout percentages, as they are lower limits. They also have higher jackpots to win, and for the most part rely on luck. Table games on the other hand usually have higher payout percentages as they are higher limit games, and have a greater probability of providing more profits to the casino in shorter times.

Why would players play higher limit games? Well, the fact is, they are known as skill games too, since the players can learn more about the game, the odds, mathematical equations and so forwards, altering the odds on their favor to win.

Referring to our topic, online casinos usually have a higher payout percentage. If you consider this fact, along with the convenience of staying home, playing at your own pace, and doing everything online from e-cash to entertainment, then you can definitely see why it is so much better to be playing at online casinos most of the time.

Their payout percentages are usually displayed with each game – or the casino will gladly inform you if you cannot locate them. These are also usually set by the casino software developer, who before posting the games up, will test them out with millions of play for fun money in order to see the games percent. You could do the same, but make sure you have millions of money or time to burn. If you are worried about their accuracy and reliability, then all you have to do is check for their certificates at the bottom of the page. These certificates are issues by companies whose main job is to make sure these online casinos follow the norms of randomization, fair play, and so forwards.

Offline casinos on the other hand set their own payouts, but still need to request approval from the Gaming commission (specific to United States casinos). One point to consider is that offline casinos will generally put the higher payout slot machines upfront – closer to the entrance of the door, so the sound of jackpots on these games will attract pedestrians near by.

Offline casinos will also have their dealers rush the games, and hence, making you lose more and faster, obviously decreasing your winning odds, and lowering your entertainment experience.

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