When we review data from various sources on slot machine payback, a common theme is that as the denomination increases, so does the payback of a slot. Usually each step up in denomination increases payouts by a percentage point or two. The difference between a penny denomination machine and a $1 denomination machine can be significant, but part of that is a long term result – your short term results can vary.
Armed with that knowledge, it can potentially encourage some players to take their smaller budgets to the high limit room or at least bigger bets, thinking they’ll have a better chance of winning.
But multiple things come into play. We loved this comment left recently by a reader who had this to say about betting:
I do think a lot of people bet higher than they can afford, thinking that that’s going to up their chances of winning money. When I sit down at a machine and I look at my budget, I don’t look at it in terms of money that I have, I look at it in terms of how many spins I have and whether those spins are gonna be spent efficiently. It’s also why I implement a win and pull process. If I went over a certain amount, I pull my ticket and put $20 in. It keeps a much better control of both my budget and my betting. I don’t think that slots are tighter. I think people have smaller budgets overall these days and aren’t adjusting their bets to accommodate that budget. RTP is still RTP.
Joshua K.
We agree slots aren’t tighter, but they are getting more volatile. So another part of the calculation is how many spins it is going to take, on average, to get a bonus, for instance. That average has been rising over the years, and a new slot can easily be 2-3x more difficult to get a bonus than one from 10-20 years ago.
But you’re raising smart notes – thinking about how much you’re betting vs. your budget, and managing your bankroll by cashing out when ahead.
The other thing we’ve shared in the past is you can low roll in higher limit settings. Old school three reel machines might have 75 cent bets at quarter denomination, or $3 bets at $1 denomination. Even the new school Double Top Dollar machines can appear in one line versions that can be just two or three credits at a denomination.
Video slots can still sometimes be accessible too, such as the 1 gold symbol 80 cent bet on dime denomination Dancing Drums. So it doesn’t have to be the three reel machines either.
Our colleague John Mehaffey will sometimes frame table game conversations about the expected loss per hour, based on both the rules of the game and the size of the bet.
A similar consideration can be had about slots as well, but the biggest differentiator is the swings can be much more extreme, and the expected loss per hour can be higher even on smaller bets because you’re placing a lot more wagers per hour than you are on table games.
For instance, you can play 100 hands per hour on a table game, but more than 500 spins per hour on a slot. With more wagers and a higher house edge, it’s not unusual for slot players to lose money faster, especially when on a bad run, vs. a table games player. This scenario is one reason why slot players are often comped at a higher rate, even when betting less per spin than a table game player per hand – they’re expected to lose more money in a similar timeframe.
So we like Joshua’s advice here – think about your bet sizes against both your budget and the bet level of the machine, lock in profits, and factor in what the likelihood of fun is on a given game with those two things in mind. It will help ensure your casino visit is more enjoyable, and improve your chances of leaving with some money in your pocket.
