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HOW TO WIN AT SLOTS. Slot machines are games with odds based in math, just like all other casino games. But few players understand just how those odds work, and whether they can do anything to improve their odds. The objective of this chapter is to introduce you to how slot machine odds work and what that means to your chance to win at slots.

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2. Can You Win Big On Slot Machines

Players who prefer slot machines to other casino games do not gamble simply for profit, but they also want to have a good time playing. So in order to play the game for longer and benefit from your favorite slot games we recommend you to follow some slots tips that have been developed by experienced players. They will help not to lose at slot machines or online slots of different types and become a real long-term winner regardless the size of the bankroll.

Quick Slot Tips

If you are going to visit a land or online casino to get the rush and thrill of slot machines do not forget to follow some basic slot recommendations. Even if you do not use any special slot machine strategies you can still end up a winner every time you gamble. So, below we explain some do's and don'ts when you play slots.

Advanced Slot Tips

Now let's consider all the slots tips in more detail. The following advanced recommendations from the real pros are not obligatory but are considered to be the most effective methods of winning when playing online and offline.

1. Manage your bankroll.
To built up a gaming strategy, the slot player must first of all decide on the bankroll and the size of bets. The smartest tips are to stretch the betting amount, pocket all the winnings, know when to stop and never try to win money back, because you can lose even more.

2. Set up betting limits.
Choose the slot machine according to your bankroll and betting limits. Remember, slots is a gambling game, therefore make sure you treat it wisely and choose a machine according to the amount of money you can afford to wager. Otherwise you risk to reach the 'quit point' very fast.

3. Bet Max at progressive slots.
When playing at the progressive slot machines, bet the maximum amount of coins and bet on all the paylines. It will be a pity if you have the best combination but don't win the jackpot because you haven't Bet Max.

4. Look for extra slot bonuses.
Choose a machine with extra bonuses and special offers such as bonus free spins or bonus rounds. Such games are not only fun but also provide more chances of winning cash.

5. Play only loose machines.
Not all slot machines are based on the same RNG, therefore always look for loose slot machines with the highest payback. Most casinos advertise the slots payback percentages. However, if you cannot figure out the payback statistics remember that as a rule $5 (or higher) slot machines provide the highest paybacks of up to 99%.

6. Practice slots for free.
Before playing for real money, practice a lot in order to know all the game options and learn how to win at slots. You can try our free slots or play slot games in fun mode at online casinos.

7. Check the paytable before the game.
Carefully study the slots paytable before you play to make sure that you know which combinations will win you money and to have an idea of what you are paid out for. Don't rush to play at the first machine you see but look for the slots with the highest payouts.

8. Don't believe in slots myths.
Do not believe in the widespread slots myths. Don't forget that there is no such thing as a hot or cold machine, therefore pick the one you like and enjoy the game. Remember also that there is no 100% effective system of beating slots and any strategies offered you for buying are useless.

9. Benefit from slots comps.
Most casinos provide casino comps for slot players in the form of free lunches and dinners, hotel rooms, tickets, bonuses, etc. In such way you can save money for playing rather than spend big sums on accommodation and meals.

10. Ask the professionals.
In case you have any questions about the rules, payouts, bonuses or other options, feel free to ask the casino support as they are there for you 24/7.

The gaming industry is big business in the U.S., contributing an estimated US$240 billion to the economy each year, while generating $38 billion in tax revenues and supporting 17 million jobs.

What people may not realize is that slot machines, video poker machines and other electronic gaming devices make up the bulk of all that economic activity. At casinos in Iowa and South Dakota, for example, such devices have contributed up to 89 percent of annual gaming revenue.

Spinning-reel slots in particular are profit juggernauts for most casinos, outperforming table games like blackjack, video poker machines and other forms of gambling.

What about slot machines makes them such reliable money makers? In part, it has something to do with casinos’ ability to hide their true price from even the savviest of gamblers.

The price of a slot

An important economic theory holds that when the price of something goes up, demand for it tends to fall.

But that depends on price transparency, which exists for most of the day-to-day purchases we make. That is, other than visits to the doctor’s office and possibly the auto mechanic, we know the price of most products and services before we decide to pay for them.

Slots may be even worse than the doctor’s office, in that most of us will never know the true price of our wagers. Which means the law of supply and demand breaks down.

Casino operators usually think of price in terms of what is known as the average or expected house advantage on each bet placed by players. Basically, it’s the long-term edge that is built into the game. For an individual player, his or her limited interaction with the game will result in a “price” that looks a lot different.

For example, consider a game with a 10 percent house advantage – which is fairly typical. This means that over the long run, the game will return 10 percent of all wagers it accepts to the casino that owns it. So if it accepts $1 million in wagers over 2 million spins, it would be expected to pay out $900,000, resulting in a casino gain of $100,000. Thus from the management’s perspective, the “price” it charges is the 10 percent it expects to collect from gamblers over time.

Individual players, however, will likely define price as the cost of the spin. For example, if a player bets $1, spins the reels and receives no payout, that’ll be the price – not 10 cents.

So who is correct? Both, in a way. While the game has certainly collected $1 from the player, management knows that eventually 90 cents of that will be dispensed to other players.

A player could never know this, however, given he will only be playing for an hour or two, during which he may hope a large payout will make up for his many losses and then some. And at this rate of play it could take years of playing a single slot machine for the casino’s long-term advantage to become evident.

Short-term vs. long-term

This difference in price perspective is rooted in the gap between the short-term view of the players and the long-term view of management. This is one of the lessons I’ve learned in my more than three decades in the gambling industry analyzing the performance of casino games and as a researcher studying them.

Let’s consider George, who just got his paycheck and heads to the casino with $80 to spend over an hour on a Tuesday night. There are basically three outcomes: He loses everything, hits a considerable jackpot and wins big, or makes or loses a little but manages to walk away before the odds turn decidedly against him.

Of course, the first outcome is far more common than the other two – it has to be for the casino to maintain its house advantage. The funds to pay big jackpots come from frequent losers (who get wiped out). Without all these losers, there can be no big winners – which is why so many people play in the first place.

Specifically, the sum of all the individual losses is used to fund the big jackpots. Therefore, to provide enticing jackpots, many players must lose all of their Tuesday night bankroll.

What is less obvious to many is that the long-term experience rarely occurs at the player level. That is, players rarely lose their $80 in a uniform manner (that is, a rate of 10 percent per spin). If this were the typical slot experience, it would be predictably disappointing. But it would make it very easy for a player to identify the price he’s paying.

Raising the price

Ultimately, the casino is selling excitement, which is comprised of hope and variance. Even though a slot may have a modest house advantage from management’s perspective, such as 4 percent, it can and often does win all of George’s Tuesday night bankroll in short order.

This is primarily due to the variance in the slot machine’s pay table – which lists all the winning symbol combinations and the number of credits awarded for each one. While the pay table is visible to the player, the probability of producing each winning symbol combination remains hidden. Of course, these probabilities are a critical determinant of the house advantage – that is, the long-term price of the wager.

This rare ability to hide the price of a good or service offers an opportunity for casino management to raise the price without notifying the players – if they can get away with it.

Casino managers are under tremendous pressure to maximize their all-important slot revenue, but they do not want to kill the golden goose by raising the “price” too much. If players are able to detect these concealed price increases simply by playing the games, then they may choose to play at another casino.

This terrifies casino operators, as it is difficult and expensive to recover from perceptions of a high-priced slot product.

Getting away with it

Consequently, many operators resist increasing the house advantages of their slot machines, believing that players can detect these price shocks.

Our new research, however, has found that increases in the casino advantage have produced significant gains in revenue with no signs of detection even by savvy players. In multiple comparisons of two otherwise identical reel games, the high-priced games produced significantly greater revenue for the casino. These findings were confirmed in a second study.

Further analysis revealed no evidence of play migration from the high-priced games, despite the fact their low-priced counterparts were located a mere 3 feet away.

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Importantly, these results occurred in spite of the egregious economic disincentive to play the high-priced games. That is, the visible pay tables were identical on both the high- and low-priced games, within each of the two-game pairings. The only difference was the concealed probabilities of each payout.

Can You Win Big On Slot Machines

Armed with this knowledge, management may be more willing to increase prices. And for price-sensitive gamblers, reel slot machines may become something to avoid.