Slots
Payouts
Slots
machine payout percentages are set at the
factory. The manufacturer will offer a certain
type of slots in various denominations in
with a variety of payout percentages. For
example, a casino might order 25 cent "Blazing
7's" slots with an 86.7% payback. Or
it might order the same slots with an 89.5%
payback percentage. The casino bases the
payback percentage on several factors. In
super competitive environments like Atlantic
City or Las Vegas, where results are published
frequently, a casino cannot afford to lag
too far behind its competition. Therefore,
it has to set its machines close to the
level set by nearby competitors.
In
general, lower denomination slots machines
payout percentages are lower than the higher
denomination machines. In other words, dollar
machines are generally set to pay back a
higher percentage than quarter and nickel
machines.
Competitive
gambling states like Nevada, New Jersey,
and Mississippi pay back more than most
other jurisdictions. In general, states
where slots results are published, (for example:
New Jersey, Nevada, Mississippi, Colorado,
Connecticut, Indiana, Iowa, Louisiana, Missouri,
and Quebec) invariably offer a higher payback
to the player. The reverse is also true.
Michigan and Ontario, for example, do not
publish slots payback percentages. The only
conclusion that can be reached is that these
jurisdictions do not want to suffer an unfair
comparison to Nevada and New Jersey. You
can safely assume that states that do not
publish payback percentages run paybacks
between 75% and 85%.
Payout
percentages vary from casino to casino and
even from slots to slots within a particular
casino. You will often see signs posted
regarding the percentage of payout particularly
at the dollar carousels. You might see as
high as 98.2% payback, this does not mean
that for every $100 you play you will get
a return of $98.20. What it does mean is
that over time (200,000 to 300,000 pulls),
the machine will pay back the posted percentage.
Calculated in all of this are the small
wins and the jackpot wins. A player could
put $500 into a dollar slots machine and
get very little back, perhaps a hundred
or two and even less. This does not mean
the percentage payout is incorrect. It simply
means that you have not experienced the
98.2% payback. The next player coming along
may feed a few dollars into the slots machine
and win a jackpot. In his case the payback
far exceeded 98.2% posted on the carousel.
Over a long period of time it all averages
out to the posted percentage. Variations
in payout percentage from casino to casino
can vary widely. Generally speaking, penny
and nickel slots have a lower payback percentage
than quarter and dollar machines. The higher
denomination slots pay back a higher percentage
to the player.
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