Slot Machine Payout Percentages
SlotsGeek has been receiving quite a few searches in google for players who are looking for slot payout percentages or how to calculate slot machine percentage payouts. As such we thought we would explain how the payout percentage works in relation to a table game and along with an explanation of what the slot payout percentage really is.
Nearly everything you read which relates to a table game uses a percentage to show you the house edge which is normally a very low number (or at least it should be). Slot machines are the opposite – the higher the number, the higher the expected return should be. With slot machines we don’t talk about the house edge, we use the term slot machine payout percentage. This is why you’ll find a machine saying it offers a slot payout usually 97% or more.
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Understand the Slots Payback Rate
This payout percentage is an estimate of what that particular machine is expected to payout. That said most players assume that a 97% slot payout means they can expect a 97% return on their investment. This assumption is wrong and if you continue to think this way, odds are you will be that person leaving the casino broke.
The expected payout percentage is based on the lifespan of that slot machine. If a slot machine life expectancy was five years, it’s expected that the slot machine would payout 97% over the five year span.
What Is The Slot Machine Hold Percentage?
The slot machine hold percentage is similar to the casino house edge. If a machine has a 98% slot percentage payout, the hold percentage would equal 2% which means the casino would receive $2 on every $100 wagered. If the life span on a machine was 2 years with 100,000 spins per year at $1 a spin, the slot machine hold percentage would bring an expected return of $4000.
Slot Machine Payouts and Payout Percentages
Most slot machines vary when it comes to the payout percentage. Online slots typically range from 96% to 98.5%, although please remember these numbers represent the payout percentage across the total lifespan of that particular game. Typically the high limit slots provide above average winnings and a higher payout percentage than those which accept a smaller denomination. Does this mean you should be playing the high limit slots? Not all. Regardless of whether the machine has a higher payout percentage or not does not mean you should increase your betting limits. Although the payouts on the higher denomination slots are enticing, these games will definitely cost you more over the long haul, especially if you can’t afford to play them. Besides, do you really want to go broke on three spins or would you rather be able to enjoy yourself over a few hours of entertainment.
Can The Casinos Legally Alter The Slot Payout Percentage?
The answer is no. In the United States every single slot machine has a payback percentage set by the casino and approved by the State Gaming Commission. If a slot machine offers a 97.5% payback the casino cannot legally re-set the machine to 95% unless they submit a proposal to the State Gaming Commission requesting the change. And even then it has to be approved.
Will High Paying Slot Machines Guarantee A Win?
Again the answer is no. Every slot machine is random and although the machine can offer a high payback percentage it does not guarantee that a player will win. In fact the slot machine could advertise a 99.99% payout percentage and you could and most likely will lose. The chances of you winning differ from one machine to the next depending on the number of winning combinations.
As an example Slot Machine A has 1000 combinations and only one winning combination which pays out 950 coins. Slot Machine B also has 1000 combinations with 950 winning combinations each paying one coin. Both machines offer you a 95% payback rate however Slot Machine B provides you with more chances of winning than Slot Machine A.
What does this mean? Although two machines can offer the same payback rate you can still lose a considerable amount of money on one over the other. Ridiculously high payout rates guarantee nothing. There are way too many variables to take into consideration such as the number of stops on a machine, the number of winning combinations, payouts on each winning combination, among other factors.
The absolute best advice we can offer a player who wants to find the best payout percentages on slot machines is to play smart. Stay within your budget and enjoy the game for what it is...luck :)
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