Slot machines and how to Win big money

Nearly everyone who visits a casino, even for the first time, is familiar with a slot machine and how it works: just put in your money , pull the handle and wait a few seconds to see if you win. It is not intimidating like blackjack where you really need some knowledge of the rules before you play and it is this basic simplicity that accounts for much of the success of the one-armed bandit in US casinos today. The biggest money-maker for casinos is the slot machine with approximately 60 to 65 percent of the average casinos profits being generated by slot machine play.

As an example, in Nevadas fiscal year ending June 30, 1998 the total amount won by all of the states gaming hall was a little more than $7.8 billion. Of that amount, slightly more than $5 billion, or about 64 percent, was from slots. Keeping in mind, you must ask yourself, can I really win money by spinning the reels? The answer is a resounding yes.

and no. First the no part: in simplest terms a slot machine makes money for the casino by paying out less money than it takes in. In some states, such as Nevada and New Jersey, the lowest possible payout is regulated. In Nevada the minimum is 75 percent and in New Jersey it is 83 percent.

However, if you look at the average slot return for those particular states in this book you will see that the actual average payback percentages are much higher. In New Jersey it is about 91 percent and in Nevada it is about 95 percent. Even though the actual paybacks are higher than the law requires, you can still see that on average for every $1 you play in an Atlantic City slot machine you will lose 9? and in a slot machine in Vegas you will lose 5?. You do not have to be a genius to see that if you stand in front of a slot machine and continue to pump in your money, eventually, you will lose it all. On average, you will put in less money in Vegas rather than Jersey, but the result is still the same: you will lose your money. You can win lots on slot machines by using a little common sense, practicing some money management and, mostly, having lots of luck.

First, the knowledge part. You need to know what kind of slot player you are and how much risk you are willing to take. Do you want to go for the giant progressive jackpot that could make you a millionaire in an instant or would you be content walking out a little ahead?.

Steve Bourie writes about the world of Online Poker and Sportsbetting. You can read his articles about Bacarrat at www.americancasinoguide.com