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I always thought it would be interesting to look at when to bet big on a game that’s as close to the opposite of blackjack as I could think of. When should you bet big on slot machines?
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Quite frankly, I have several opinions and lines of thinking related to how much you should risk when playing slot machines. And the conclusions I’ve come to are about as different as the conclusions I came to when discussing blackjack as you could ever imagine.
It' s long been said that the players who get the best deal on the offline and online slots are those who bet bigger. Casinos generally put higher payback percentages on slot machines with higher coin denominations, and at least on three-reel games, payback percentages usually are highest with maximum bets. Bet Free Pokies Free Casino Games for Fun Slot machines are the most played casino games, which is why it is not surprising that playing online casinos is rampant. Of course, people want to be able to enjoy their favorite free slots without having to travel and just do it from their home or mobile device.
You Should NEVER Bet Big on Slot Machines
Compared to other casino games, real money slots have the ability drain your bankroll fast. Not only do slot machine games have the highest house edge in the casino, but they also practically force you to put more money into action per hour than any other game.
Betting big on slot machines basically guarantees that you’ll lose a lot of money.
The average slot machine in a competitive casino destination probably has a house edge of around 7%. It could be higher than that depending on the machine. You’re not able to determine how big the house edge, is though.
That’s because the payback percentage is based on the probability of winning multiplied by the amount you stand to win. You do this for all the possible combinations, and you have the payback percentage for the game. Subtract that from 100%, and you have the house edge for the game.
How the Payback Percentage for Slot Machines Works
Let’s look at a simplified slot machine game, slots probabilities, and how the payback percentage for the game is calculated. Let’s suppose the pay table looks like this:
- Three fruit symbols result in a 200 for 1 payout.
- Any two fruit symbols plus any other one symbol results in a 25 for 1 payout.
- Any one fruit symbol plus any other two symbols results in a 5 for 1 payout.
- Any combination without a fruit symbol but with a bar symbol results in a 1 for 1 payout.
Now, let’s say that there are 2,500 possible combinations, and you can achieve the following combinations in the following number of ways:
- You have eight ways to get three fruit symbols.
- You have 16 ways to get two fruit symbols plus any other symbol.
- You have 32 ways to get any one fruit symbol plus any other two symbols.
- You have 128 ways to get a bar without any fruit symbols.
- Every other possible combination results in no payout.
What are the probabilities of achieving each result?
You determine that by dividing the number of ways of getting that result by the total number of possible results:
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- Getting three fruit symbols is a probability of 8/2500, or 0.0032.
- Getting two fruit symbols plus any other symbol is a probability of 16/2500, or 0.0064.
- Getting one fruit symbol plus any other two symbols is a probability of 32/2500, or 0.0128.
- And the probability of getting a bar with no fruit symbols is 128/2500, or 0.0512.
To get the expected value for each combination, you just multiply the probability by the payout:
- Three fruit symbols is worth 0.0032 X 200, or 0.64.
- Two fruit symbols play any other symbol is worth 0.0064 X 25, or 0.16.
- Getting one fruit symbol plus any other two symbols is worth 0.0128 X 5, or 0.064.
- Getting a bar with no fruit symbols is worth 0.0512 X 1, or 0.0512.
Add all those together, and you get an overall expected return of 0.9152, or 91.52%.
This means the hypothetical slot machine I described has a house edge of 100%, 91.52%, or 8.48%.
But What Does the Casino House Edge Really Mean?
The casino house edge is a statistical prediction of how much you’re going to lose on the action that you place. For example, if you bet $100 on a game with a house edge of 8.48%, you’re expected to lose an average of $8.48.
But this is a statistical average. As you can see in the example above, you can’t lose $8.48 on a $100 bet on this machine. You can lose $100. Or you can win an amount of between $100 and $20,000.
It’s a long-term expected average per bet, what you can expect after thousands of repetitions. This is what the Law of Large Numbers is all about. In the short term, with anything that’s random, you never know what’s going to happen. You might win a lot or lose a lot. On a single spin, you’re looking at the ultimate example of the short term.
But the closer you get to an infinite number of repetitions, the closer your average results will get to the statistical expectation.
At 10 slot machine spins, you’ll almost certainly get closer to that 8.48% expected loss rate. At 100 slot machine spins, the probability of getting close to the statistical expectation goes up even more. And so on at 1,000 spins and 10,000 spins.
How Long Does It Take to Get Into the Long Run With a Slot Machine?
The average slot machine player makes 500 spins per hour. That’s the same thing as 500 bets. Contrast this with the average number of bets per hour at various casino games:
- Blackjack might result in 60 bets per hour depending on the number of players at the table.
- Craps might result in 100 rolls per hour, but depending on your betting strategy, you might not be placing a new bet on every roll. If you base it on decisions per hour, you might be looking at just 30 bets per hour.
- Roulette might result in 60 spins per hour, and if you’re only placing one bet per spin, you’re only looking at 60 bets per hour.
If you notice, the number of bets per hour at a slot machine is greater than the number of bets per hour on any table game by a huge margin. The fastest of these table games is craps, but you’d need to be placing a new bet on every roll of the dice just to make 1/5 of the number of bets you’d make on a slot machine.
What Does This Mean to the Amount of Money You’re Expected to Lose on Slot Machines?
The casinos calculate a game’s predicted win for the casino by multiplying the average hourly action by the game’s house edge. The hourly action is just the product of the average bet size multiplied by the average number of bets you make per hour.
But suppose you’re betting $3 per spin on a slot machine. That means you’re putting $1500 into action per hour. And if you assume a 6% house edge, you’re looking at a predicted $90 per hour loss rate.
That’s a huge difference.
What Happens to Your Average Hourly Loss Rate on Slot Machines When You Start Making “Big” Bets?
Okay, so suppose you decide to cash out your 401k and play the high roller slots at your local casino. Let’s say these games have a max bet of $100. How much money are you expected to lose for an hour of this kind of action?
$100 X 500 spins is $50,000 in action.
With a 6% house edge, your expected loss in an hour of play at this rate is $3000. That’s a lot of money to lose on just an hour of entertainment. Sure, you could get lucky and have a big winning session. But the longer you play, the more likely you are to lose, and the more money you stand to lose during that losing session.
It’s Okay to “Take a Shot”
One of my professional poker mentors explained to me that it’s okay to occasionally ignore strict bankroll management requirements in poker if you want to “take a shot.” The idea is that you’re willing to risk a relatively large amount of money on a big gamble.
This doesn’t mean buying into the World Series of Poker every week for $10,000, if that were even possible. It does mean that it’s okay to save $1,000 a month for a year to be able to take a shot at the final table next year.
It’s okay to place a single big bet on a slot machine on the outside chance you might get a win.
Most people, though, treat slot machines like Lay’s potato chips. They can’t eat just one potato chip, and they can’t just make one slot machine spin.
Conclusion
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When should you bet big on a slot machine game? The short answer is, almost never. The house edge is too high, and the number of bets you’ll make per hour multiply that amount exponentially. And the more bets you make, the likelier you are to see the statistically expected results.
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If you want to bet big on a slot machine, limit yourself to a single big bet. If you’re really aggressive, set some arbitrary number of spins as your target.
I once played a game for $100 per spin for just 10 spins. I won $6,000 that session, so it went okay.
Had I stayed at the machine for a couple of hours, though, I would have almost certainly have given all that back to the casino and then some.
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Online slots are relatively straightforward games composed of spinning reels, a variety of symbols and a number of paylines. Players set their bet, spin the reels and hope for the right combination of symbols. If a set of identical symbols form a winning line, the player is normally granted a monetary reward. Around for nearly 130 years, slots have maintained their core mechanisms up until this very day. How was the first slot game created? What types of slots are offered by today's online casinos? Read to discover top slots available at LV BET Online Casino.
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How to play casino slots ??
Register an account with an online casino, make a deposit, select your preferred game, place a bet, choose its value and click the Spin button. Many slots even feature an automatic spin mode.
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If you're still new to online slots, choose an online casino which enables you to play with virtual currency in demo mode. It’s a great way to start getting familiar with slot machines and test their unique features. Professional gamblers affirm that having good slot knowledge is necessary if you want to increase your winning chances. Although online slots are not very complicated to understand, you should still go through the information section of each slot, check out the paytable and read all the terms and conditions.
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What makes online slots so popular? Players can expect to win cash at some point in time, and it is of no surprise that many try their luck, considering the value of particular rewards. Other attractive features include their simplicity and the dynamic entertainment they offer.
Across the years, many game developers have been releasing new titles of popular hits.
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- Wild – Its function resembles that of the Joker card in card games. It can fill in for any symbol and, in turn, form a winning combination. Many games include a win multiplier when the sequence has a Wild symbol.
- Scatter – This is the only symbol which doesn't need to fall on a payline. Most games require at least three scatter symbols on the reels, and when this occurs, the win is either multiplied, or a bonus round is triggered if they land on a payline. This bonus round may include free spins and an exciting bonus game.
- Bonus – Many games include a bonus symbol which can activate a mini-game, e.g. the wheel of fortune or a treasure box. This symbol enables you to win additional money or free spins.The advantage of most complex gambling games is the fact that special symbols can be assigned additional features which we’ll discuss next. These features make slot games more interesting for the gambler, both in terms of the fun they'll enjoy and the wins they might gain.
- Free spins – Free spins can provide real cash without the need to bet your funds. You can either obtain them as part of an online casino's special offer or through a game bonus
- Win multiplier – The advantage of many online slots is the activation of win multipliers, such as when a winning combination has a Wild symbol. Wins achieved during bonus rounds, would, in turn, be much higher
- Progressive jackpot – This progressive jackpot feature is a grand payout which increases until it's eventually won. It's estimated that the highest jackpot prize was won in Mega Fortune and it totalled about 50 million dollars! However, luck must indeed be in your favour for anyone to win this kind of prize.
- Jackpot slots – Players are highly interested in slots games equipped with a progressive jackpot feature. In such slots, the daily jackpot grows every time a game is played, but not won. Thus, the more it's played, the higher the prize will become. Most casinos provide a couple of these slots, enabling players to win big if they're lucky. Mega Fortune is regarded as the top progressive slot as its jackpot is often in the millions.
- Bonus Wild – Apart from filling in for other symbols, the Wild symbol also offers additional bonuses in many games. An Expanding Wild stretches across the entire reel, automatically increasing the likelihood of a winning line. The Sticky Wild remains fixed in the reels for one or more spins, depending on the game. Some games also provide bonuses whenever a winning combination with a Wild symbol occurs.
- Re-spin function – Similar to free spins, this feature is usually linked to the Sticky Wild. When activating this feature, the slot offers a free re-spin, which may result in extra wins.
- Gamble – This is one of the most popular bonus features in online slots. Every time a spin is successful, a player can decide to participate in the unique bonus game, which very often involves guessing the colour of the card (red or black). Guessing the correct colour doubles your winning amount, while a wrong guess will make you lose the win achieved from the last spin. Participation in this Gamble feature is totally up to the player.
- No Deposit Bonus – Casinos may grant this bonus after players register an account, before even making the first deposit, to enable players to check out the site's game portfolio with the offered funds.
- Welcome Bonus – This bonus grants extra cash to players upon completing their first deposit, and is generally dependent on the deposit amount you place. Sometimes, you can even get free spins as part of the Welcome Bonus
- Bonus Reload – Functioning like the Welcome Bonus, you can claim this bonus after making further deposits
- Bonus Cashback – This enables players to receive back a percentage of the cash they've used in online slots
- Tournaments and special events – Casinos frequently host competitive tournaments, where players can compete for the top of the leaderboard and win extra prizes
- Loyalty program – Casinos reward points to active gamblers, which can be exchanged for cash, non-cash prizes or free spins
Slots are supposed to generate fun and provide winning opportunities. However, you need to keep in mind that entertainment should remain your primary aim when playing.
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More and more players seem to prefer playing video slots on mobile applications. Thus, online casinos have been focusing on the design and optimisation of mobile apps, and today most modern online slots are fully adapted to smartphones. All you need to do is download the application, configure the account, and make a deposit. Mobile apps frequently allow players to win extra cash, thanks to many special offers and mobile bonuses.
Special symbols
In an endeavour to make video slots more exciting, renowned game developers often integrate special symbols. Their role is to help players form winning combinations and to enable higher wins. Popular video slots offer three kinds of special symbols:
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Gambling on video slots is an entertaining activity, and even the most complex games can lead to big wins if you're lucky! To further entertain players, game developers sometimes equip slots with a series of special bonus features:
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New online casino players can gain additional cash which they can use to enjoy more video slots. What kind of special offers and bonuses are provided by online casinos?
Online casino bonuses are much-anticipated by all players. Together with these bonuses, special features such as win multipliers and Wilds make video slots more attractive.