How To Read Slot Machine Stats

The only difference is that in electrical slot machines the system for money handling is more sophisticated, as for me - I prefer real slot machines. After the reels have stopped spinning the slot machine would have to read whether or not the player has won any money. Knowing how slot machines work is the first step to learn the best slots secrets and tips to improve your chances to win. Despite the popularity of these games, slots are not easy to beat both when you play them on the best online casinos and at land-based slots rooms. However, in making this assumption, they fail to see a lot of valuable information to help determine if they should play a particular slot machine. Surprisingly perhaps, machines aren't all the same. The best way to separate one from another is to learn how to “read” a machine by looking at the payout schedule on the front. In this sample the Hit Frequency is 10% (total combinations = 60 and prize combinations = 6). Most of people use excel to calculate this stuff, however, you may find some good tools for making slot math. Proper keywords for Google: PAR-sheet, 'slot math can be fun' book. For sweepstakes or Class-2 machines you can't use this stuff.

Slot Machine Patterns

When playing a slot machine, any slot machine, you will experience a what seems to be a random “pattern” of wins and losses. It is often difficult to spot a pattern but the more you play the better your ability becomes in recognizing these patterns. In fact, the more you play, the easier it is to teach yourself to recognize and learn each slot machine pattern. The quicker you see a pattern, the better your ability is to either bet down, or even walk away when a machine is in a losing cycle, (or down cycle) and/or bet up when on a wining cycle, (or up cycle).

Since each spin of a slot machine is different from every other, some people attribute these cycles to nothing more than luck. Therefore, some players will say that when a machine loses a few hands, it is not neccesarily in a down cycle nor winning a few hands means it is in an up cycle. Due to the Random Number Generator in every slot machine, which makes every spin different from every other, there is no real way to predict any future spin from any past. Therefore, it is often a matter of luck when you lose 20 hands in a row and then hit the jack-pot on the very next spin. This is why you will see experienced players hanging back watching a machine. They are waiting for the person playing it to hit a down cycle, cash out and move to another machine, while they swoop in and hope to catch the up cycle patterns.

These cycles suggest to some players that a slot machine may be either programmed or simply fall in intervals which lead to higher slot pay-outs. The more a machine takes in on a down cycle, the better the return is on an up cycle. So if you see someone quickly go thru say $100.00 on a slot machine, with no real hand, that might very well be the machine to jump on in hopes to catch its profitable up cycle. I too have tried this very system time and again, on several different slot machines, but the payoffs always lead to the question, is this a sound system or is it simply luck or coincidence if or when that machine hits shortly after the “down cycle”? It is very hard to judge, as it really is a hit or miss with the Random Number Generator at work.

The notion is that there is one ongoing list of numbers called “the computer selection table” that the random number generator selects from, which is a list that sometimes contains more losing numbers at one point and more winning numbers at others. Determining which part of the computer selection table is the real point of this slots strategy. However, keep in mind, the Random Number Generator selects from hundreds of number combinations every second, so when you hit “spin” the Random Number Generator collects the last number it generated and matches it with a corresponding reel placement. This determines if you win or not. Since you are seeing the results of significantly less than one percent of all the number combinations generated. Therefore, it's very hard, if not impossible, to determine whether you are just missing the jackpot or that you are in one of its down cycles.

Although it remains a matter of opinion, anyone who sits in front of a slot machine long enough to plot up and down cycles will tell you, if you are losing consistently, that’s usually a sign to cash out and try your luck at a different slot machine as it does you no good losing your bank roll waiting for an up cycle to bring home a jackpot...

The gaming industry is big business in the U.S., contributing an estimated US$240 billion to the economy each year, while generating $38 billion in tax revenues and supporting 17 million jobs.

What people may not realize is that slot machines, video poker machines and other electronic gaming devices make up the bulk of all that economic activity. At casinos in Iowa and South Dakota, for example, such devices have contributed up to 89 percent of annual gaming revenue.

Spinning-reel slots in particular are profit juggernauts for most casinos, outperforming table games like blackjack, video poker machines and other forms of gambling.

What about slot machines makes them such reliable money makers? In part, it has something to do with casinos’ ability to hide their true price from even the savviest of gamblers.

The price of a slot

An important economic theory holds that when the price of something goes up, demand for it tends to fall.

But that depends on price transparency, which exists for most of the day-to-day purchases we make. That is, other than visits to the doctor’s office and possibly the auto mechanic, we know the price of most products and services before we decide to pay for them.

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Slots may be even worse than the doctor’s office, in that most of us will never know the true price of our wagers. Which means the law of supply and demand breaks down.

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Casino operators usually think of price in terms of what is known as the average or expected house advantage on each bet placed by players. Basically, it’s the long-term edge that is built into the game. For an individual player, his or her limited interaction with the game will result in a “price” that looks a lot different.

For example, consider a game with a 10 percent house advantage – which is fairly typical. This means that over the long run, the game will return 10 percent of all wagers it accepts to the casino that owns it. So if it accepts $1 million in wagers over 2 million spins, it would be expected to pay out $900,000, resulting in a casino gain of $100,000. Thus from the management’s perspective, the “price” it charges is the 10 percent it expects to collect from gamblers over time.

Individual players, however, will likely define price as the cost of the spin. For example, if a player bets $1, spins the reels and receives no payout, that’ll be the price – not 10 cents.

So who is correct? Both, in a way. While the game has certainly collected $1 from the player, management knows that eventually 90 cents of that will be dispensed to other players.

A player could never know this, however, given he will only be playing for an hour or two, during which he may hope a large payout will make up for his many losses and then some. And at this rate of play it could take years of playing a single slot machine for the casino’s long-term advantage to become evident.

Short-term vs. long-term

This difference in price perspective is rooted in the gap between the short-term view of the players and the long-term view of management. This is one of the lessons I’ve learned in my more than three decades in the gambling industry analyzing the performance of casino games and as a researcher studying them.

Let’s consider George, who just got his paycheck and heads to the casino with $80 to spend over an hour on a Tuesday night. There are basically three outcomes: He loses everything, hits a considerable jackpot and wins big, or makes or loses a little but manages to walk away before the odds turn decidedly against him.

Of course, the first outcome is far more common than the other two – it has to be for the casino to maintain its house advantage. The funds to pay big jackpots come from frequent losers (who get wiped out). Without all these losers, there can be no big winners – which is why so many people play in the first place.

Specifically, the sum of all the individual losses is used to fund the big jackpots. Therefore, to provide enticing jackpots, many players must lose all of their Tuesday night bankroll.

What is less obvious to many is that the long-term experience rarely occurs at the player level. That is, players rarely lose their $80 in a uniform manner (that is, a rate of 10 percent per spin). If this were the typical slot experience, it would be predictably disappointing. But it would make it very easy for a player to identify the price he’s paying.

Raising the price

Ultimately, the casino is selling excitement, which is comprised of hope and variance. Even though a slot may have a modest house advantage from management’s perspective, such as 4 percent, it can and often does win all of George’s Tuesday night bankroll in short order.

This is primarily due to the variance in the slot machine’s pay table – which lists all the winning symbol combinations and the number of credits awarded for each one. While the pay table is visible to the player, the probability of producing each winning symbol combination remains hidden. Of course, these probabilities are a critical determinant of the house advantage – that is, the long-term price of the wager.

This rare ability to hide the price of a good or service offers an opportunity for casino management to raise the price without notifying the players – if they can get away with it.

Casino managers are under tremendous pressure to maximize their all-important slot revenue, but they do not want to kill the golden goose by raising the “price” too much. If players are able to detect these concealed price increases simply by playing the games, then they may choose to play at another casino.

This terrifies casino operators, as it is difficult and expensive to recover from perceptions of a high-priced slot product.

Getting away with it

Consequently, many operators resist increasing the house advantages of their slot machines, believing that players can detect these price shocks.

Our new research, however, has found that increases in the casino advantage have produced significant gains in revenue with no signs of detection even by savvy players. In multiple comparisons of two otherwise identical reel games, the high-priced games produced significantly greater revenue for the casino. These findings were confirmed in a second study.

Further analysis revealed no evidence of play migration from the high-priced games, despite the fact their low-priced counterparts were located a mere 3 feet away.

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Importantly, these results occurred in spite of the egregious economic disincentive to play the high-priced games. That is, the visible pay tables were identical on both the high- and low-priced games, within each of the two-game pairings. The only difference was the concealed probabilities of each payout.

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Armed with this knowledge, management may be more willing to increase prices. And for price-sensitive gamblers, reel slot machines may become something to avoid.