Some of these games have a higher payback and better odds. These slot machines are considered loose because a player could expect to see a better ROI than if they were to play low paying slots. If a sign says there is a 98% payback, you know it is a loose slot machine. This doesn't mean that if you play $50 that you will win $48. Now that you understand how much you intend on putting at stake and you have sat down, logged in, made you deposit and picked out a new game to try you should think about what is the volatility or variance of the slot. Variance is the average chance the wins will be a lot of small ones, or a few larger ones. Again, in the old days, you pulled the lever and either won or you lost — and when people lost, they'd walk away. Today's multi-line slot machines are far more elaborate.
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Casinos are designed for a single purpose: to separate you from your money. And they’re good at it. Commercial casinos in the U.S. made nearly $35 billion in revenue last year, up a percent from 2009.
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While they represent just a fraction of that revenue, slot machines are the casino gateway drug for the least savvy gamblers. It’s why they’re by the door. More than any other casino game, slots condition people to keep playing through positive reinforcement (bells and whistles). And the odds have gotten worse as technology has improved.
Though today’s sophisticated multi-line machines have a higher “win-rate,” the amount won is negligible, and often less than what was originally gambled. A recent study by researchers at the University of Waterloo in Ontario, finds that these multi-line machines are more effective than their single-line predecessors at taking money from the gambler by disguising losses as wins.
Casino slots today are dominated by multi-line machines, which allow you to bet on a multitude of combinations: up, down, diagonal, rather than just hoping for the three 7’s to line up across the middle on an old-school single-line machine. While that may seem like an advantage, it’s harder for the average person to accurately calculate the odds of multi-line machines.
The table below shows how losses are disguised as wins based on the number of lines the user has bet on:
Though you may win more, the pay out is often lower than what you’ve already put into the machine to begin with. So you get the bells and whistles, but it’s really just a fancy loss.
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