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Slots

(return to complete list of casino games)

Every time the papers announce another million-dollar slot jackpot, it lights the fires of slot players everywhere. Characteristically similar to the lottery (unintimidating, easily accessible, possibility of large payoffs), slot machines are the number-one revenue producers in Las Vegas casinos, earning more than 60% of the win. How? Simple. Slots beat players regularly. Still, casino data and surveys show that gamblers love slots. They love the clanking of the coins, the trance-like state that play induces, and the brilliantly conceived Pavlovian reinforcement that the machines are programmed to dispense.

Hints

If you must play slot machines, here are a few tips to assist you.

• The casino edge is lower when you play the larger-denomination-coin machines, but you also have a greater expected loss. This is a difficult concept to grasp. Extrapolating from Nevada's most recent monthly revenue statistics, we find that 1¢ slots win about 12% of the money played through them, 5¢ slots win 9%, 25¢ slots win 7.5%, and $1 slots win 4.5%. If maximizing your chances of leaving a winner is your top priority, then higher denomination machines are your best bet. But again, you stand to lose more money at the higher limits.

• The casino edge is (usually) lower when you play maximum coins, but to what degree is not as easily definable as it is in video poker. The only advice I feel comfortable giving here is for you to let your personality and bankroll objectives guide you. If you're prepared to lose your whole gambling allotment for a shot at the big money, then you should certainly do all you can to lower the casino advantage, which means play maximum coins.

• Machines do not become 'due.' Don't waste hours staking out a machine so you can pounce when you feel it's ready to pay.

• Machines with very large jackpots have a greater drain, which is the expected loss when you don't hit the top prize.

•Machines with lower jackpots pay back small amounts more frequently. Though the long-term return equals that of the large jackpot machines, you usually get more play for your money when the top jackpot is smaller.

• Join casino slot clubs when you play. A portion of the money you lose can be recouped through club benefits.