Frank Scoblete (Casino Gambling Expert & Bestselling Author) gives expert video advice on: How do slot machines work?; What are the odds of winning on a slot machine?; What are the odds of winning on a progressive slot machine? and more...
How do slot machines work?
The modern day slot-machine is nothing like the slot-machine of a hundred years ago, which relied on levers, pulleys and various mechanical devices. Today's slot-machine operates on a computer chip; and the actual symbols that show up on a reel come from something called an RNG, or Random Number Generator. This "Random Number Generator" selects a sequence of numbers that correspond to the various symbols on a reel. Even when the machine is not being played, this "Random Number Generator" is constantly selecting symbols.
When were slot machines invented?
Slot-machines were invented in San Francisco, by Charles Faye. In fact, the most famous slot-machine of all time is called the "Liberty Bell", and that's the machine that Faye, himself, invented.
Are slot machines the game most favorable to the casino?
There would not be a casino "explosion" in America without the slot-machines, and casinos would not have spread throughout the country without the slot-machines. The "house edge" on the slot-machines will range from about 4 percent to about 17 percent, and the speed of a slot machine is staggering. In fact, a twenty-five cent slot player will lose more money than a one hundred dollar Baccarat player in a single hour.
What is a "progressive slot" machine?
There are two types of slot machines. One is called a standalone machine. It's not connected to any other machines, whatever's on the panel is what you win. Then there's a second type of machine called a progressive slot machine. And that means the jackpot keeps going up and up and up as long as no one hits it. Many of these progressive slot machines are interlinked, and even interlinked between casinos, like Megabucks and Quarter Mania. So on the progressive slot machine, you have a jackpot that gets bigger and bigger, very similar to a state lottery.
What are the odds of winning on a slot machine?
Slot machines have interesting odds, and there's something called a "hit frequency", which determines how often something will be returned to you. This "hit" doesn't necessarily mean a win; if you put three coins in a had one returned, for example, that's a "hit". Slot machine odds can go anywhere from a machine that hits about 8% of the time to a machine that hits around 23% of the time. The odds on a slot machine are not figured the same way as the odds at a table game, they are based around a percentage of the money invested in that machine.
What are the odds of winning on a progressive slot machine?
I'm going to give you a very sad piece of advice: if you play "Mega Bucks", your chances of winning are fifty million-to-one, if you play the New York State Lotto, the odds of winning are thirty-five-million-to-one. Progressive machines are based on the idea of incredibly high payouts, but extremely slim odds.
What is a "loose" slot machine?
A "loose" slot machine is a slot machine that keeps less of your money, a "tight" slot machine does the opposite; it's easier to win on a "loose" machine.