25 Apr How Casinos Use Math to Make Money When You Play The Slots
Casinos are famous for their lavish ambience, finesse, and the entertainment offered to attract customers. Little did we know that this attraction also veils some demerits to a gambler. How do they make profits every day, contribute money to the gamblers every day and still not go bankrupt? All the games on the floor are carefully examined so that they provide the highest cut to the house. It’s called ‘House Edge’. Slot machines are one such machine, which is built by considering the math carefully and curating the wins so that ‘house always wins’.
Slots are an asset to the casino business, as it is considered a money-making machine of many casinos in the US, where they contribute to about 65%-80% of their income to the casinos. Every day gamblers put in millions of dollars into these machines. Why? Because there is the math behind the money, which calculates the odds such that the house makes more money than the gambler ever will.
Slot Machine Claims
Like all other casino games, slot lovers have claimed strategies and prospects of winning a jackpot:
If you go on playing the slots, you will eventually land into a jackpot.
If you count the numbers appearing on the wheels, you will eventually figure out when you’ll hit the Jackpot.
Casino manipulates the machines to control the chances of winning.
Although not many of these theories have been put to the test or have been proved successful, people still think it’s worth a try.
Game of chance
Slot machines are loved by everyone, almost in all the casinos because it is a game of chance and does not require the player to memorize strategies and rules. The reels that display on the slots are generated randomly, without affecting the outcome of the previous outputs. However, there is math involved in every slot machine outcome.
For instance, there are 20 different symbols on each reel. Then the combination would be 20X20X20= 8000 combinations for each slot machine which increases with the increase in reels. And if the Jackpot is at 7 7 7, then it would be 1 in 8000 combinations. If you have to sit and calculate your odds at winning it, you should be a math genius.
Most slot machines announce their payouts in terms of percentages. For instance, 97.8% payout means for every dollar you put, the machines return 97 cents and keeps 2.2 cents. This only happens when you’re playing on the machine for a long time. It is generally misinterpreted that the payouts happen anyway in the long run. But this is false. The percentages can only be fantasized in theory, because in reality it only happens over long games.
Gamblers start with a smaller amount and then raise their bar according to their luck. The truth is, the slot machines make money on every penny you deposit into the machines. That is how they make money.
It is imperative to know that there is maths in every game you play in a casino, whether you like it or not! That is how the casino always wins. In many casinos in Vegas, particular accountants maintain the odds and increase their stakes. Although it is nearly impossible to decode the math, it is better to research it, to increase your chances.