David Matthews' Gambling in Space: Wynn Progressive Slots

This is a bank of progressive slots at the Wynn. There are six machines. Five range from $1,100 to $2,000 on the progressive jackpot. This machine in the middle is at $7,500!

Looks like a good play, doesn't it? Well I lost a bit trying to hit it and gave up.

Having said that, one thing I find very humorous is when I am playing the machines, an identical machine with a $1,100 jackpot is sitting next to one with a $2,000 jackpot. The $1,100 was on the end. The $2,000 was next to it (one in from the end). Guess which machine everyone walked up and put their money in and played? You guessed it ... the $1,100 machine.

This is why casinos stay in business.

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Comments

Well, playing smart usually wins out over greed...
the lower jackpots usually pay out more regularly.

# Posted By GREGRIO | 3/17/08 4:08 PM

Slots are not VP, of course, so the pay percentages are not known.

I think David is just saying, on a slot (negative EV), one might as well

take the long shot on a 6-7 times higher possible payout.

The ploppies, bless 'em, find Deal or No Deal similar to differential

equations in difficulty.

Please keep them in your prayers.

# Posted By mad dog | 3/19/08 6:35 AM

Hate to play the devil's advocate but maybe it was obviously hitting more often so it could have been "hotter" or even hitting at a higher percentage. Some say the end machines are set to hit more often so that more people see them when they hit.

Corollary argument would be the 7216.74 is set at the lowest rate to hit.

New to the site but love it by the way.

# Posted By Big Show | 4/2/08 12:18 AM

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