Free Online Slots - Understanding Slot Payouts

  Wednesday, March 2, 2011

One of the best kept secrets within casinos is that the casino will effectively tax each and every player, each and every time they decide to make a wager and this applies irrespective of the outcome of their wager. This happens with live slots and at all online casinos such as Sky Vegas, Virgin Casino and even online bingo sites such as Sky Bingo. If the player wins, the casino profits. If the player loses, the casino profits. If the player manages to just about break even, the casino profits. Ever heard the expression “the house always wins?” This is precisely why.

One of the great dangers with slot machines is that people will get sucked into a repetitive cycle of placing “just one more bet” which quickly becomes another ten, hundred or thousand as the case maybe. The reason that this is a concern is due to the fact that, as was pointed out in the initial paragraph, the player will always be stung for the average hold rate no matter what the outcome.

The fact that the player has their bankroll steadily diminishing each and every time they place a wager also harms their chances of winning as well and the reason for this is that they are not able to place any more bets. For example, if you have a 10% chance of winning, then this means that for every ten wagers you submit, the odds are that one of them will be a winner. However, you may find that you have already wagered nine times already with no success, and the tenth wager maybe the bet that finally nets you the prize and allows you to be ahead.

Ever noticed how different slot machines will require different amounts of money from the player? Some will ask for a dollar, others a mere nickel, and others charge a kings ransom of five dollars per wager.

Based solely on these numbers alone, the average player may succumb to the fallacy that a five dollar slot machine is a riskier and more costly choice of slot machine as opposed to the one dollar slot machine because it requires more money per wager.

However, before you make any such sweeping generalisations, it is essential that you actually take the time to carefully determine and then compare the different average hold rates for the different machines so that you can determine on average, how much money you will lose at the end of each hour.

For example, if you were to rely upon a dollar slot machine, and so placed $2 per every 10 seconds then this means that after a period of an hour, you have churned $720 dollars through the machine. Given that the average hold rate for these types of machines are 5.37%, this would mean the player has lost $38.66 for the sake of using that machine.

Compare that to a nickel slot machine which has an average hold rate of 9.81%. If the player were to wager $1.35 per ten seconds, then this would mean at the end of an hour, the player would have churned $486 through the machine. Given that the average hold rate will kick in, the amount of the bankroll of the player which is forfeited to the machine is $47.68.