Although slots are the most popular gambling game, most people do not study how these machines work, preferring to just play them. However, experts agree that learning at least a little about slot machines and their payout percentages can help players increase their winnings.
To play slots, it is important to understand the concept of payout percentages. It's very easy to visualize a machine's payout percentage as a complement to the House edge. Machines that show a payout percentage of 95% are considered to give a 5% House edge. A machine with 90% payouts gives the House a 10% edge.
Before starting to bet, create some rules for yourself. Betting money is always betting money, beyond any entertainment. Like you, you would not spend the money for your rent on a cruise trip, you should not use it to bet. Use only the money you have separated for entertainment and do not bet on money that cannot be luxurious.
However, there is a difference between the way a slot machine's payout percentage is applied to your game, and how the House edge is applied at the table. Imagine that you are playing a $1 slot machine and you have $100 to play. Playing with this money you could end up depositing 120 credits into the machine.
For this game session, your payout percentage is 120/100, or 120%. Let's say, for example, that you now deposit $120 into the machine but end up with $78 after 120 spins. So, since you started playing, the machine has taken $220 ($100 + $120) and given you $198 ($120 + $78).
Your payout percentage is then 90% (198/220). Now let's say that you continue to play with the remaining $78 and end up with $70. The payout percentage is still 90%, since (120 + 78 + 70) / (100 + 120 + 78) = 268/298 = 90%.
This example may actually be very realistic, as in practice slot machines see an even more volatile payout percentage than this. Unfortunately, you could take the same example, keep playing, and see an even lower payout percentage. Over time, the game will deplete your money reserves.
However, if during your session you hit the jackpot in just one try, then your payout percentage will go well beyond 100%, and that's usually where you'll end up playing.
The more attempts you make, the better your chances of hitting the jackpot and winning much more than you started with. To maximize your house edge, try to finish playing after you've caused the machine to award you a win that makes your payout percentage greater than 100%.
The volatility of the payout percentage is what makes these machines so popular, allowing some lucky players to win big. Keep in mind, however, that increasing volatility reduces the payout percentage during typical gaming sessions, so you can't expect to win every time.
Some sessions will run out of your entire bankroll without you hitting the big prize. Many players simply won't settle for a moderate win. Rather they will continue playing, hoping to win the big prize. The important thing is that you are aware of what you are looking for when playing slots.
Decide in advance between playing by depositing a lot of coins per turn hoping to win the big prize, or playing with a few coins at a time hoping to maximize your number of turns.
