Slot Machines — Can you really Win?

There are many theories and myths about the nature of slot machines and whether an individual can make a benefit from them. With the growing awareness of gambling addiction, the slot machine is getting a bad name. The actual fact is that in January 2009 a written report premiered by the Ontario Problem Gambling Research Centre stating that problem gamblers comprise merely a 3.2% of the entire gambling population in Canada. In August 2010, Stats Canada released its discovering that the full total Canadian gambling revenue was estimated at $13.75 billion in 2009. When one considers the full total Canadian revenue from gambling, the 3.2% of problem gamblers is relatively small in comparison to the spending as a whole.

Slots have been around since 1891 where the best poker hand was rewarded with beer and cigars. The first conception of the gambling phenomena was introduced in Brooklyn slot joker, New York by two men, Sittman and Pitt. Shortly after in 1895 the infamous Charles Fey developed the initial commercial machine which became coined “The One Arm Bandit” ;.The understanding behind the coined phrase was due to the undeniable fact that Fey’s machine had three reels and five symbols with the largest jackpot paying out ten nickels. Fey’s creation provided for 1000 number combinations before a jackpot combination was struck. This obviously was difficult to accomplish, thus players often lost a fortune trying to get the combination. From the issue in actually getting a jackpot the public called the equipment a Bandit for stealing their money. Fey’s creation became so popular he couldn’t keep up with public demand. By 1964 the initial fully electronic slot machine was created and called the Money Honey.

Slots have been a popular of several gamblers throughout history, although slot machines were also viewed as poor people man’s gamble in many bars across North America. Slot machines have risen in popularity because the creation of Microgaming and Random Number Generation Technology (RNG). RNG predicts another symbols to look on the slot machine window, dictating the quantity of money to be won, as opposed to weights that may be added to any given reel in favor of the casino, as opposed to the player. RNG has evened the playing field for the gamer to truly win money and spend less. The casino still reaps a profitable sum as time passes as new players put their money in and then leave to visit another machine.

Slot machines today are known to possess payout percentages of 80 – 98% and are pre-programmed with Microgaming because of their payout rates. Casinos can change the payout rate of the machines; however most choose not to due to the complex task and large expense of having a chip replaced. Most slot machines with wagering levels of a cent to a fraction have lower payout rates than one dollar and higher machines. It’s noted that five dollar machines routinely have a payout rate of 98%.

Is it possible to win at slot machines today with the governing combination being chip technology? Absolutely! One needs to understand the RNG technology and how it is employed in slot machines. Using simple tips and strategies, it is very possible to create a slow but steady income stream from slot machines. A mistake that many slot players make is continuing to place large sums of money into a slot with the hope of a large jackpot. If a player is using low risk betting strategies and understands RNG, the odds of building a substantial and consistent income stream is far more possible compared to one-off large jackpot.

So the next time you hit the land or online casinos, consider RNG and not chilling out for the large jackpot. Take your small wins and move to the next machine to start it around again. Wise money management is a very important aspect in winning at the slots. In the event that you enjoyed this article and would really like more comprehensive information regarding slot machine technology please feel free to get hold of me through email.