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Why You Should Use Probability When You Hit the Slot Machines

9 August, 2017 Gaming


Do you remember the movie called National Lampoon's Vegas Vacation, when the gaming fever consumed Chevy Chase's impersonation of Clark W. Griswold? He went on a losing streak, to defeat all losing streaks and in the meantime, his son Rusty won four cars by playing on slot machines. Perhaps Clark might have done better if he had read this article. Here, you will discover the fundamental ideas behind slots and how they work. This will let you get past all the myths and create a strategy that is entirely based on probability.


Understand the Average Payout


When operators advertise that their slots payout an average of 90%, the fine print they do not want you to read states that you lose 10 cents for every dollar you place in the machines. In terms of probability, this endorsement means that your expected wins are minus 10 cents on each dollar that you spend.


Suppose that you start with $100 and wager one dollar at a time. After you insert $100 into the slot machine, 100 pulls later you will end up with $90 on average since you lose 10% of your funds.


If you run the $90 back into the machine, you will end up with 90% of it back. Or in other words 0.90x 90 = $81. Moreover, if you run that through, you will have approximately $72.90. If you do not stop for about 44 rounds more, all your money will be gone, unless you have Rusty's luck.


So, how many pulls at this rate do your $100 give you? Each time you will have less money to play through, so you will have less pulls left. For instance, if you play $1 at a time, you can expect approximately 972 pulls with the average payouts. This is the total pulls in about 44 rounds. However, you should keep in mind that operators are designing slots to go faster between spins. Some of them are even doing away with the tokens and handles by using digital readouts on the cards that you place in the slots. The faster machines can play about 25 spins per hour, and if you have money for 972 spins, you will have 38.88 minutes. Thus, you will not have a long time to enjoy your $100 before it is gone. So, what is the worst part here? Casinos often boast that their average payouts are as high as 95%. However, this number only applies to specific machines, and the casinos will not tell you which ones. So, you need to ask or read the fine print before you rush into playing. Another thing you can do is check the information on the slot to see if it lists its payouts.


You're probably wondering if the same works for online slots. The answer is yes. However, the percentages are usually higher, since sites have less expenses than land based operators. That is why every day, gamblers all around the world are discovering new slot websites where they can play the popular game.


How to Implement a Simple Strategy for Slots?


Advice varies regarding if you play nickel, quarter or dollar slots and if you should max the number of coins you wager or not. In this section, we will give you several tips on getting the most bang for your money.


When it comes to slots, strategy boils down to knowing your probability of winning, the expected payouts, and the rules, quitting while you are ahead and dispelling any myths.
If you win $100, you should cash out half and play with the rest. After you lose a particular amount, you should not hesitate to quit. You should go to the all you can eat buffet and try your luck with the food, the odds are that it is good.


How Many Coins Should You Play at a Time?


When you are determining the number of coins you should bet per spin, you should scrutinize that more can be better. If the slot gives you more than 2x the payout when you place in 2x the coins, you should max out instead of playing only one coin. This way you will enhance your chances of winning a larger pot, and the expected value will be higher. If the machine just gives you n times the payout for n coins, it will not matter if you use the max number of coins or not. You might as well play 1 at a time until you can make money and leave so your money lasts longer.


For example, if a quarter machine pays you 10 credits for the 777 outcome when you place one quarter. However, if you play 2 quarters, it will give you 25 credits. And if you play the max number of quarters, for example four, the same outcome will result in 1,000 credits. You can see how playing four quarters at once will give you a greater chance of winning a larger pot in the long run compared to a single one at a time for four tries in a row.

 


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