The Grand History of Slot Machines
Don’t get me wrong. I’m not saying that you shouldn’t play slot machines. In fact,
I think slot games, especially the really good ones, are a lot of fun. But you want to keep in the forefront of your mind that mathematically, what you’re doing when you’re playing a slot machine on a long term basis is paying for entertainment. You can calculate how much you’re paying for that entertainment by multiplying the house edge times your average bet times your number of spins per hour.
For example, if you’re playing a slot game with a payout of 95%, then the house edge is 5%. (The casino keeps 5% of every bet you make long term.) And if you’re average bet is $3, then you’re going to pay an average of 15 cents per spin to the house. (5% times $3.) Assuming you’re making 500 spins per hour, that game costs you $75/hour to play, which may or may not be a reasonable price for you entertainment. That depends on your bankroll.
Something else to factor into your calculation is how much gameslot the perks and bonuses you’re getting back from the casino are worth. If you’re playing in a land-based casino where you’re getting free drinks while you play, then you can subtract the cost of those drinks from you’re hourly cost. (Or you can add the cost of those drinks to the value of the entertainment you’re receiving–it’s just a matter of perspective.) My recommendation is to drink top-shelf liquor and premium beers in order to maximize the entertainment value you’re receiving. A Heineken can cost $4 a bottle in a nice restaurant. Drink two Heinekens an hour, and you’ve just lowered what it costs you to play each hour from $75 to $68.
Slot clubs also give back a percentage of your losses each hour, so definitely be sure you join the casino’s slot club and ALWAYS use your card to track your play. There’s absolutely no reason not to do this. Casinos also reward their larger slot players with comps like meals, show tickets, and free rooms, which all add up to reduce the amount of money you’re spending each hour that you’re playing on their machine.
So how to be a winning slot machine player? I’d sum it up by saying know how much it’s costing you to play each spin and each hour, take advantage of all the comps and the perks, and go for the big progressive jackpot.
Don’t get me wrong. I’m not saying that you shouldn’t play slot machines. In fact, I think slot games, especially the really good ones, are a lot of fun. But you want to keep in the forefront of your mind that mathematically, what you’re doing when you’re playing a slot machine on a long term basis is paying for entertainment. You can calculate how much you’re paying for that entertainment by multiplying the house edge times your average bet times your number of spins per hour.
For example, if you’re playing a slot game with a payout of 95%, then the house edge is 5%. (The casino keeps 5% of every bet you make long term.) And if you’re average bet is $3, then you’re going to pay an average of 15 cents per spin to the house. (5% times $3.) Assuming you’re making 500 spins per hour, that game costs you $75/hour to play, which may or may not be a reasonable price for you entertainment. That depends on your bankroll.
Something else to factor into your calculation is how much the perks and bonuses you’re getting back from the casino are worth. If you’re playing in a land-based casino where you’re getting free drinks while you play, then you can subtract the cost of those drinks from you’re hourly cost. (Or you can add the cost of those drinks to the value of the entertainment you’re receiving–it’s just a matter of perspective.) My recommendation is to drink top-shelf liquor and premium beers in order to maximize the entertainment value you’re receiving. A Heineken can cost $4 a bottle in a nice restaurant. Drink two Heinekens an hour, and you’ve just lowered what it costs you to play each hour from $75 to $68.
Slot clubs also give back a percentage of your losses each hour, so definitely be sure you join the casino’s slot club and ALWAYS use your card to track your play. There’s absolutely no reason not to do this. Casinos also reward their larger slot players with comps like meals, show tickets, and free rooms, which all add up to reduce the amount of money you’re spending each hour that you’re playing on their machine.
So how to be a winning slot machine player? I’d sum it up by saying know how much it’s costing you to play each spin and each hour, take advantage of all the comps and the perks, and go for the big progressive jackpot.…
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