So who pays for those Volcanic eruptions? Pirate Battles? Carnival Parades? and Glittering Showrooms? Slot Machines. 60-65% of casino revenue is generated by those bell-ringing one armed bandits that seem to multiply on casino floors like rabbits. So how does the average player gain an advantage and possibly win? Well... aside from cheating (which we really don't suggest you get involved in) the only way to gain some sort of advantage is to choose your slots with utmost care and discrimination.

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How to Win at Slots – Tricks to Improve Your Odds. Some players have been known to walk away with hundreds of dollars from a penny slot machine. They’re certainly worth a try if you’re on. A slot machine house edge is known by casino managers as the “hold”, and hold percentages vary a great deal, and do tend to be smaller at more expensive slots, frequently found to be around 1- 3% at the five dollar slots. Its odds of winning would have had to have been so high that, by itself, it raised the odds of 25 other $25 slot machines to be over 100% for months at a time. Or, maybe it was a group of $25 slot machines. What’s the advantage play under this scenario? Well, that’s easy. Go to the Wendover casinos, find the $25 slot machines, and ask around. Again, if you choose to play free slots for fun, you don’t have to worry about slot machine odds. For nickel slots games, the average payback percentage in a live casino is 92.5 percent. The quarter machines pay back an average of 94.1 percent, the dollar machines 95.9 percent, and the high-stakes $5 games pay back 98.4 percent.

Slot machines in Las Vegas are required by law to payout 75% of the money that goes into them, actual payout in Las Vegas is approximately 95%. Will you be the one that takes the money instead of gives it? That is up to luck, but with a little investigation one can easily learn to identify which machines are more favorable to the player than others. Slot machines are all about the payout... Red White and Blue, Double Diamond, Dick Fucking Clark, Cherry whatever. At the end of the day what every slot player needs to do is look at the pay schedule on the machine they want to play. Very often the same machine one row over will pay 5,000 credits on 3rd credit jackpot while you're playing on a 2,000 3rd credit machine. Plain and simple you're cheating yourself.

Slot Spotlights

A few notable slot machines we here at VT have found more playable, or more interesting, than the other nonsense out there like Leprachaun's Gold or Tabasco Slots or whatever.

We like machines that have the best payouts on the lowest winning spins. These will keep you going longer between larger wins and not enact the ATM-In-Reverse principle seen at many of the larger joints (Venetian being the worst we've experienced).

100 or Nothing
Red, White and Blue
Slot Machine Jackpots Photo Gallery
Wheel of Fortune
Wild Cherry

Slot Machine Payback Percentages

Below are the slot payback percentages for Nevada's fiscal year beginning July 1, 2002 and ending June 30, 2003:

5¢ Slot Machines
The Strip - 90.32%
Downtown - 91.50%
Boulder Strip - 93.03%
N. Las Vegas - 92.97%
25¢ Slot Machines
The Strip - 92.59%
Downtown - 94.83%
Boulder Strip - 96.47%
N. Las Vegas - 96.63%
$1 Slot Machines
The Strip - 94.67%
Downtown - 95.35%
Boulder Strip - 96.48%
N. Las Vegas - 97.21%

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$1 Megabucks Machines
The Strip - 89.12%
Downtown - 88.55%
Boulder Strip - 87.76%
N. Las Vegas - 89.41%
$5 Slot Machines
The Strip - 95.33%
Downtown - 95.61%
Boulder Strip - 96.53%
N. Las Vegas - 96.50%
All Slot Machines
The Strip - 93.85%
Downtown - 94.32%
Boulder Strip - 95.34%
N. Las Vegas - 95.32%

The Math of Casino Slot Machines

For every dollar you wager in a slot machine, you will lose 100% - Payback% of that dollar. For example, you're at Bellagio playing the $1 Double Diamond slot, wagering Two Credits ($2) per spin. According to the table, for every $2 spin you will lose 5.33% of that bet... just shy of 11¢. Granted these 11 cents don't get extracted instantly... this is computed over time. So if your bank roll limit is $10 it will take you, on average 52 spins before your bankroll is toast (under $1) and you are out of credits.

How was this number derived:

STAKE x (Payback Percentages) = STAKE x (Payback Percentages) = STAKE x (Payback Percentages) = ...
Repeat calculation until the number gets below the minimum bet - if you play long enough, you're gonna go broke. THAT is a FACT. Slot machines are entertaining, relaxing, require little thought beyond pressing a button. IF you want to truly GAMBLE, you might want to look into Video Poker, and eventually Blackjack as other options.

Granted, sometime in there you just might hit that $500 win on the Wheel of Fortune, or The Elvis progressive might shake rattle and roll $1000 your way... but the math inside the machine determines that you will in fact lose a certain percentage of your wager on each spin, and the more you spin... the more you will lose despite short runs of successful jackpots. If you find you are UP... leave. Every spin of a slot machine generates a random number that has NOTHING to do with previous numbers. SLOT MACHINES do NOT run in streaks (even if you might wish to think they do). Don't expect to get any of the money you put into a machine out of it unless you learn to press the CASH OUT button.

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Gamblers Library

VT fully recommends the following books to help you decrease the house advantage on casino card games.

Buy used from Amazon.com and save big bucks!

When Connecticut's two casinos opened in the early 90s, they did so by reaching an agreement with the State of Connecticut to pay the state 25 percent of their monthly slot revenues.

As a result, both Mohegan Sun and Foxwoods must report their total slot earnings to the state each month. In December 2010, Foxwoods earned $45 million on its slot machines, an increase of 1.2 percent over December 2009.

Mohegan Sun took in $53.5 million dollars in December slot revenue. That's a 6 percent decline over December 2009, according to The Day of New London.

In reporting its numbers, Mohegan Sun actually revealed some interesting information some gamblers might want to pay attention to.

Overall in December, $673,412,991 went through Mohegan's slot machines. It's a staggering number, referred to as the handle, by casinos. But Mohegan Sun only kept 7.94 percent of that total amount. That means more than 92 percent went back to gamblers.

What may be even more valuable information to the millions of people who drop dollars into those ringing, buzzing and screeching machines is that Mohegan Sun also breaks down which machines actually give gamblers the best odds at winning.

The casino has 6,404 slot machines scattered throughout it's sprawling gaming floors, and as most gamblers know, you can toss your money into those machines in many different denominations. But what the casino's December numbers show is that some of the 'cheapest' slot machines, actually have the worst odds for patrons.

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For example, Mohegan Sun kept 11 percent of all of the money that went into its penny slot machines, with 89 percent returned to the players. That must be why the casino has more penny slots, 2,532 machines, than any other type. Not surprisingly, the majority of Mohegan Sun's slot revenue comes from these penny slots. Nickel slot machines took 12 percent, and give back 88 percent in December.

On the other side of the scale, the casino's $2 slots kept just 2.03 percent of the money that went in, giving back just under 98 percent to gamblers. The best deal for players, if you can afford it, was the casino's $10 slot machines, which kept a minuscule 1.77 percent of the money put into them, returning 99.23 percent to those spending their hard-earned cash.

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In the middle were the casino's quarter slots, which returned more than 91 percent of the money put in back to patrons, and the $1 machines gave back more than 93 percent to gamblers.

But for those who want to play those machines, their best bet may be to play Mohegan Sun's multi-denomination slots. Those are machines on which a player can choose to bet in different amounts. In December, they returned 95 percent of the money that went into them. So gamblers had better odds dumping quarters into a multi-denomination machine, than playing those same coins on the quarter slots.