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Originally posted by: CowboyKell
I believe you are right about the small sample.
What we all have to remember is that our experience with any machine or machines is very, very short. The payout percentage is averaged over the life of the machine.
I believe my next question to the owner/operator of this large international gaming machine manufacturer will be about "retiring" the machines early if they are not on "average", that is if their lifetime average at the time they remove them is less than advertised.
I also wonder about video black jack games. These are still considered slots so they must pay out to the advertised "payback". So, what if no one ever plays correctly and always bust', will this give someone who plays correctly a better advantage??
Originally posted by: CowboyKell
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Originally posted by: bigdawg
Interesting Cowboy. I realize slots are normally a losing proposition. But, with $170 in FSP I thought I would be able to play for several hours at least and keep my head above water. Such as jacki99 wrote. I have been a member here and read enough gambling books to know that VP paybacks are based on the stated paybacks for various hands on the machine and realize that 4 oak's, straight flushes and royals are a large percentage of that figure. Btw I have lost quickly before but the last two times for these events were very ugly. I realize that is a small sample , but I didn't see anyone winning.
I believe you are right about the small sample.
What we all have to remember is that our experience with any machine or machines is very, very short. The payout percentage is averaged over the life of the machine.
I believe my next question to the owner/operator of this large international gaming machine manufacturer will be about "retiring" the machines early if they are not on "average", that is if their lifetime average at the time they remove them is less than advertised.
I also wonder about video black jack games. These are still considered slots so they must pay out to the advertised "payback". So, what if no one ever plays correctly and always bust', will this give someone who plays correctly a better advantage??
It's wrong to think that the percentage is averaged over the life of the machine. It's just not the right thought process. The math is the math. Take roulette. 38 numbers. Probability to hit one is 1/38. There is no "over the life of the roulette wheel" caveat. Same thing with VP and slots. Just because the probability is determined by an electronic chip doesn't mean it some how knows its lifetime. Due to the nature of VP, the variation has large swings and this means that a larger number of hands is required for the sample average to approach the mean.
An individual machine's results will follow a normal distribution. Some will pay out more than average, some will pay out less average. As a whole they will pay out what they are set to pay out.
VP do not have to payback at a set %. They payback according to their paytables. That is it. The RNG is not adjusted to compensate for poor or perfect play or how well the machine has paid in the paid.
A better question to the gaming executive might be to ask what type of quality checks and monitoring they do to assure the machines operateas intended.