Payout Percentages for Slot Machines Explained
Have you ever wondered how ‘loose’ or ‘tight’ online casino games are compared to land based casinos. If you recall, at many Las Vegas casinos you’ll find signage that displays payout percentages for their slots.
It may indicate the entire casino pays outs those percentages on average. It may also indicate that only certain ‘banks’ or groupings of slot machines pay out that percentage.
You should also be cognizant of the fact that those signs are out there only as a means of enticing you play. Also, in general, you won’t find those payout figures in any native American indian casinos due to their incredibly bad rates.
Slot machines are designed to be fair and honest. However, did you know that casino owners can and do set the payout percentages to what ever level they want! Those slot machine payout percentages are not random events. They are pre-programmed by casino owners.
However, do not confuse that with “hot” or “cold” slots. A particular slot machine may be set to payout 95% on average. But that machine may appear to be really “hot” and payout 150% for a short period or be “cold” and payout 50% for a short period. It all comes down to averages.
This can be easily understood by two examples. One person walk up to a slot machine, puts in $1 and wins $950 – that is obviously “hot” at that time for him/her. Later that day, a second person sits down at that same machine and plays for two hours and comes out with a loss of $1,000 – that is obviously “cold” for him/her.
If those two players represented the casino owners slot machine payout percentage for that machine you can easily see that it is 95%.
Tags: cold slots, hot slots, loose slots, Payout Percentages, Slot Machines, tight slots
