The variations of this question as multi-denomination machines have proliferated has been picking up steam. Let’s take on this new version of a question we’ve tackled before:
A slot machine is a 50 line penny machine with a $1,$2,$3,$4,$5 bet options, OR a 25 Line dime machine with the same bet amounts per bet, OR a 5 line quarter machine with $2.50 or $5 bet. The $5 bet (at any denom) has the same progressives. Which one do you bet and why?
Paul H.
Well, since you focused on the progressive, let’s start there. For that same progressive across all denominations, and the same bet across all denominations, your chances of hitting said progressive are identical.
Progressive chances are based on your total bet amount, and denomination doesn’t play a role in it. The higher your bet, the higher your chances of winning that progressive, so ultimately if the bet options are the same on each denomination, so are your odds if you bet the same amount across each denomination.
What might not be the same is the machine’s set payback percentage for each denomination. In general, slots let casinos set the payback percentage by denomination. Some slots have presets that build the payback by denomination automatically, but most offer a set of choices by denomination.
Casinos don’t have to set higher denominations as higher payback, but certainly some do. The idea is the average expected bet on that quarter denomination that starts at $2.50 will be higher than the penny denomination that starts at $1. So many casinos will give you a bit more back, over time, for your stepping up.
This may not be evident in a session or two – the variance is broad enough that you can get a handpay or lose your butt on a machine with the same settings – but over time, you’ll do a little bit better, and that will add up in the form of smaller losses in the long run (because all games are designed to make money for the casino in the long run).
So while your odds to win that progressive may not change, how well you do if you play enough will diverge enough to make sense to attack that higher denomination.
Just keep in mind the volatility will also be higher, because you’ll have 5 lines, not 50, to make line hits happen. So if a rough ride is not your thing, the 50 line option, even if it pays you a bit less over time, may be better for a smoother ride. At that point it’s really your call.
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