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Slot Machine Odds
Trying to pinpoint exactly what the odds are for slot machines
is a daunting task. With such a variety of machines and games
available, the odds can vary a great deal. Generally slots odds
are expressed in the form of a payback percentage. The closer
to 100%, the better. Some machines even pay back at percentages
greater than 100%, giving the lucky players who find them a positive
expectation for winning. These "loose slots" are frequently
mixed into the sea of machines on a casino gaming floor. For a
while, casino operators placed the highest paying machines in
high traffic areas like entrances, bars, and near lines for buffets
or shows - basically any place a crowd of people was likely to
be. The strategy behind the prominent placement of higher paying
machines was that since they produced winners more frequently,
they would also generate more excitement from passers-by, making
other players more likely to play at average or low-paying machines.
It didn't take long for avid slots players to figure out this simple strategy, so managers shuffled things up a bit. Reverse strategies were employed, putting low-paying machines in high traffic areas, and vice versa. These days, there really is no standard procedure except that the machines, themselves, still offer a mix of payout percentages with some high and most being low to average. However, a few rules of thumb will hold true regardless of where you play.
Average Slots Payout at Land Casinos
Denomination Average Payout
5¢ 92.5%
25¢ 94.1%
$1 95.9%
$5 98.4%
When playing at land casinos, you will likely have the option
of playing at slot machines that offer nickel, quarter, dollar,
five-dollar, and hundred-dollar betting denominations. Which ones
offer the best return rates? The highest denomination ones of
course! Casinos make money by getting a large monetary turnover.
Operators know that less money will go in and out of any give
nickel slot during the course of a day, than will in a dollar
machine. Because more money turns over in the higher-denomination
machines, casinos can afford to offer higher return rates for
players. Your bankroll may not be able to support playing a five-dollar
coin slot for several hours a day, but with a 98.4% payout, it
offers significantly better odds than a quarter slot. To take
it a step farther, although you'd really have to be a high roller,
the hundred dollar slots offer a near-100% return rate. Even though
the machines don't see nearly as much action as the quarter and
dollar slots, so much is at stake on a single pull that allows
the casino to offer a near even money return.
So how much bankroll do you need to play each denomination of slot machine? Based on a three-coin maximum bet averaging ten spins minute, and matched against the according payout rates, to play for an hour you would need:
$6.75 to play the nickel slots
$26.75 to play the quarter slots
$74.00 to play the dollar slots
$145.00 to play the five dollar slots
Keep in mind that these bankroll figures are only estimates, based on the average payout across all slots. While playing, your actual return should vary a good bit from these numbers. To be conservative, I would suggest doubling the amounts listed above to ensure one hour's worth of play. Who knows? Lots of people have won huge jackpots with much less. In late 2001, an Arizona businessman on vacation at Harrah's Las Vegas won the multi-million dollar Megabucks jackpot after investing a mere $22.00! The simplicity of the game, and the high win potential is a big part of what fuels the popularity of slot machines.
Average Slots Payout at Online Casinos
Like their land-based counterparts, online casinos are capable of producing large slots wins. Not only have the number of slots choices found in online casinos matched the variety found in traditional casinos, but their payout rates tend to be even higher. Online casinos can occaisionally even break 100% in payout rates for a given month. All of these casinos slots games are tested against rigorous accounting standards to ensure fairness for players, and that the casinos are providing a consistently high rate of return.
777 Dragon Payout %
If you decide to try your luck playing the slots at online casinos, be sure to try out the progressive jackpots games. These offer some of the highest lump sum payouts to date. A new record win of $1.5 million was set in late May 2002.
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