All slot machines are not created equal, just as Canadian casinos do not all represent the same payout percentages on their slots. However, the inner mechanisms that make a slot machine tick are comparably orchestrated, in the same way that Canada’s gambling facilities all abide by the same regulatory framework.
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Confused yet? You probably answered yes, and that’s exactly what most gambling venues would prefer. The less their patrons know about what makes slot machines tick, the more likely the casino is to make more money off of their clientele.
- When playing the slot, you will get a certain percentage of the winnings. The percentage of payout is the average amount the casino will refund you in terms of winnings compared to what you wagered. Thus, you can increase your chance of winning by looking for a slot game that offers a higher return to player percentage.
- Every slot machine has a predetermined payout percentage. When you hear things like 'our slots pay back 98.3%' this means that over the long-term for every dollar inserted in the machine, it will return 98.3 cents.
- Summary of Massachusetts Slot Machine Casino Gambling in 2020. Massachusetts slot machine casino gambling consists of two casino resorts, a slots parlor, and a cruise ship offering an onboard casino when traveling to international destinations. The minimum theoretical payout for slot machines is 80%. Monthly actual return statistics are publicly available for each casino.
- A payout percentage is simply the percentage of the total amount of money that the slot will take in over a typical amount of time, that it will pay out back to players in the form of winnings. That percentage can range from as little as 75 percent up to around 98 percent. In essence, that is what payout percentage is.
The payback percentage—also known as the payout percentage or return to player—is the amount of money deposited into a slot machine that is eventually paid back to the customer. This percentage is not determined in weeks or months, but rather over the life of the machine.
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Most slots players walk onto the gaming floor with the predisposed notion that the games are based entirely on luck, which would effectively eliminate the need to wisely choose a particular casino or slot machine to play. That’s not exactly the case. In fact, we’re going to dispel a few myths here, and reveal just what goes on within the mechanizations of slot machines.
Who Determines the Payout Percentage?
There are three parties that weigh in on the payout percentage of any Canadian casino’s slot machines.
First, the respective provincial government sets a minimal payout standard. In Ontario, for example, the OLG requires a minimum 85% payout on all slot machines. All manufacturers and casinos in the region must maintain a percentage at or above that level.
Next is the game’s developer, who sets the percentage requested by the casino installing the device.
Third is the casino itself. While it’s not normal practice for a casino to adjust the payout percentage of its slot machines, it can be accomplished by altering the EPROM chip. However, a casino must request and receive permission to do so from regulators, with approved adjustments performed by a licensed slots technician under the direct supervision of a regulatory agent.
Can Casinos Control a Slot’s Precise Payouts?
No. A random number generator (RNG) decides with each spin of the reels what will occur, and how much will be paid out. Casinos can only choose the long-term payout percentage, but cannot regulate when the payouts will occur. Thus there is no better time (day or night) to play slot machines, and no predicting when a progressive jackpot will strike.
The actual weekly and monthly payout percentages may be higher or lower than a machine is set to pay, but in the long-term, the exact chosen percentage will be achieved. The RNG integrates genuine unpredictability into every slot machine. For this reason, a progressive could strike only once in a 10 year span, or three times in a single week.
Do Payout Percentages Apply to Individual or Collective Slots?
Every slot machine in a casino must be individually set to comply with the region’s payout standard. You will not find one slot machine set to pay 70%, with its neighbor set at 105% to offset the difference. All slots must meet the minimum 85% or higher payout percentages.
What Slot Machines have the Highest Payouts?
Beau rivage free play. Slots that require higher coin denominations generally have higher payouts, even compared to cheaper slots with a max-coin multiplier.
For example, a $0.05 slot might take up to 3 coins, paying 1,000x for a jackpot on a 1-coin bet, 2,000 for a 2-coing bet, and 4,000x for a max 3-coin bet. On this type of machine, the 3-coin, $0.15 bet has the best payout percentage. However, a $1 slot machine that requires a minimum $1 bet per coin is likely to have a higher payout percentage for a single-coin bet than wagering the max 3 coins on a nickel slot.
What about Tribal Casinos?
All casinos in Canada, whether run by their respective provincial government or by a tribal organization, must abide by the same slot machine laws of their province, and that of the national standard. There’s no reason to expect the slots at a tribal casino or Canadian-run casino to be any higher or lower than the next.
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If you are a keen slots player then you will know that one of the most useful pieces of information about a slot that you can discover is the payout percentage for the game.
Unfortunately, the term is ripe for misunderstanding and novice slot players often misunderstand what the term actually means, which can lead to them having totally unrealistic expectations of how much they can expect to win on a slot from any given session.
This can then lead to them feeling frustrated, cheated even and less inclined to play the slot again, which is a shame as it is their misunderstanding that is the issue, not the slot or casino in question.
The problem often stems from misunderstanding what the term 'payout percentage' actually means and how it is applied on the slot.
So in this article, we'll attempt to explain clearly what this means.
What is a payout percentage?
A payout percentage is simply the percentage of the total amount of money that the slot will take in over a typical amount of time, that it will pay out back to players in the form of winnings.
That percentage can range from as little as 75 percent up to around 98 percent.
In essence, that is what payout percentage is. There is nothing more to it, but unfortunately, many people choose to think that this means that out of all the money they spend, they will expect to receive back between 75 and 98 percent back in winnings.
That is indubitably not the case and this misunderstanding occurs because people do not understand how the payout percentage is worked out, nor how the winnings used to calculate that amount, are paid out to players.
Wheel of fortune slots tips. Suffice to say that a payout percentage is absolutely NOT a statement of how much of your wagering money you can expect to receive back in payouts on average.
Here's why:
Payout percentage - The number of spins
The first thing to note is that when an organisation such as eCOGRA tests the veracity of the claim that a slot has a payout percentage of X per cent, then they run a series of tests to authenticate that claim.
This involves spinning the reels of the slot millions of times in order to generate what the actual payout percentage is of the slot.
It is only when the reels of the slot are spun a huge amount of times that the payout percentage shows any meaning. As such, it is a statistic which is only meaningful for the casino, rather than the player who is unlikely to have the funds or time to spin a slot the many hundreds of thousands of times needed in order to generate payouts of the percentage levels of the slot.
On fewer spins, numbering 10,000, 1,000 or less, there can be a huge difference to the stated payout percentage. A slot may seem to run 'hot' and payout considerably more than the payout percentage (even run at a loss over that period of spins), whereas at other times it may seem to run 'cold' and pay out considerably less than the stated payout percentage.
The key thing to note here is that for a player, the number of spins they play is usually so small, that payout percentage is almost irrelevant. The more spins you play the more relevant the payout percentage becomes, but only if you spin the reels thousands of times over a sustained period.
Even then the payout percentage is still only an average mark. Sometimes the slot will pay out more over one million spins than the stated percentage, other times less, but usually these measures will average out to give a mean percentage level.
Therefore, it is best to view the payout percentage as simply a measure of how much the machine pays out over millions of spins and not really relevant to your chances of success.
Payout percentage - Structure of payouts
The other key aspect to the payout percentage to understand is how the payouts of a machine are structured and that this is equally important to understanding why you are not likely to earn back 75 to 98 percent of what you spend.
The best way to do this is via a hypothetical example. So let's say I developed a slots machine that has a payout percentage of 95% and let's say that in a typical month, this machine generates 1,000,000 in revenue from players playing 1,000,000 spins in that period.
If my hypothetical machine then followed the payout percentages exactly, then 5 percent of that 1,000,000 (50,000) is the casino's operating profit from the machine. That leaves 950,000 to be shared between all the players.
However, slot machines are designed to offer a range of awards, paying out smaller rewards more often and the big jackpot prizes less frequently. Let's say that my machine has paid out one large jackpot prize of 500,000 in the last month, plus three other smaller jackpot prizes of 100,000 apiece.
That means just four lucky players have accounted for 800,000 of the payout percentage. Out of 1,000,000 spins, that means just 0.0004 percent of players have accounted for 84.2 percent of the total payout percentage.
That means the remaining 99.9996 percent of players have just 150,000 in winnings to share amongst them from 9,999,996 spins. You don't need to be a mathematics genius to realise that therefore the vast majority of players of this hypothetical slot would receive a payout that is nowhere near the stated payout percentage.
However, four lucky players have receive a payout well in excess of the payout percentage! Sounds a bit like a lottery, right?
The structure of how your slot pays out is key to understanding that payout percentage is not a figure of how much you will win on average, but simply how much the machine pays out on average over a massive number of spins. Furthermore, how often a machine pays out top prizes, will also mean that the vast majority of players will not experience a payout percentage anywhere near what is stated.
That isn't an error, or misleading, simply a fact that over small sample sizes, the averages stated in the payout percentage are irrelevant.
So while payout percentages may not be useful in letting a player understand how much of their stakes they'll win back, where they are useful to punters is in giving them a comparative measure to judge which machines are most likely to offer them a return.
In theory, you are more likely to win playing a slot with a 95 percent payout percentage than you are a slot with a 75 percent payout percentage.
Slot Machine Payouts Per State
However, once again, because the number of spins you play will be so small, the chances of you noticing a difference between the slots is negligible. It is entirely plausible that you will play the 75 percent pay out slot and win more than the 95 percent payout percentage slot.
So the key lesson to learn about payout percentages is not to think they are stating how much you will win back on average in your session, but that they are a simple, general tool to assess how profitable the machine is for the casino.
Playing games of chance, which includes lotto, keno, scratch cards, slots, and many other games, can bring massive wins for the lucky. Take these games for what they are. And remember, there's no harm in trying your luck!
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