Prefered Slot Machines

Slot Payout Percentage: the Facts

A lot of gambling myths stem from the lack of proper information, and slot machines are no exception. In this case, a majority arises from false beliefs about the payout percentage.

A lot of new slot machine players -and even seasoned gamblers- make the mistaken notion that the slot payout percentage is how the casino manages to turn a machine hot or cold. As the facts are laid bare, you will realize that is not the case at all.

In layman's terms, the slot payout percentage determines the amount that the machine will pay to the players and the casino over a predetermined amount of time, and is expressed in percentages. For example, a payout percentage of 94% means that in the long term, 6% of the money earned goes to the casino, while the remaining 94% is for the players.

This equation can easily be expressed in slot spins. Per one million spins, 940,000 will pay out to the players, and 60,000 to the house. In the gambling industry this is known as the par, and the percentage returnable to the players are variable.

The legal jurisdiction covering slot licenses vary from state to state. In Las Vegas the minimum slot payout percentage is 75%, although almost all casinos there offer it at levels well into the 90% range. With other countries, the rates also differ, but very few fall below the 90% level.

Contrary to popular belief, the payout percentage cannot be altered by the casino at any point they wish. Inside the slot is a computer software that determines this level. Residing in the slot's memory system, it is a complex piece of equipment that cannot be changed instantaneously.

To change the slot payout percentage the machine must be brought back to the factory and a new chip installed. In addition, this change can only be conducted under the auspices of gaming officials. Slots in casinos are also routinely and randomly inspected.

Online slots operate in virtually the same way; a computer chip is installed to determine a payout percentage, and this cannot be altered during game play. To change the setting, one has to reconfigure the machine, just like its land based counterparts.

As these facts relate, the claims about hot and cold machines are totally false, and the fact is that the spins in these machines are all random. With this in mind, you will be able to dispel any myths concerning slots.