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Being a winning slot machine player is impossible. All slot machines are created in order to provide the house a long term edge, so the house will invariably come out ahead if you play long enough. The only real way to counteract the house edge on slot machine games is to play a game with a really big jackpot, bet the max every time you play, and hope that you hit the jackpot. Then whenever you do hit the really big jackpot, guess what you need to do next? Stop playing that game.
Don’t get me wrong. I’m not stating that you should not play slot machines. The truth is, I think slot games, particularly the really good ones, are a lot of fun. But you want to keep in the forefront of your brain that mathematically, what you’re doing when you’re playing a slot machine on a long term basis is paying for entertainment. You can calculate simply how much you are paying for that entertainment recent post by Ucsd multiplying the house edge times your average bet times your number of spins each hour.
By way of example, in case you are playing a slot game with a payout of 95%, then the home edge is 5%. (The casino keeps 5% of every bet you make long-term.) And for anybody who is average bet is $3, then you’re going to pay a typical of 15 cents per spin to the home. (5% times $3.) Assuming you’re making 500 spins hourly, that game costs you $75/hour to play, which may or may not be a reasonable price for you entertainment. That depends upon your bankroll.
Another thing to factor into your calculation is simply how much the perks and bonuses you’re getting back from the casino are worth. In case you are playing in a land-based casino where you are getting free drinks while you play, then you can subtract the price of those drinks from you are hourly cost. (Or you can add the cost of those drinks to the value of the entertainment you are receiving–it’s just a matter of perspective.) My recommendation is to drink top-shelf liquor and premium beers so that you can maximize the entertainment value you are receiving. A Heineken can cost $4 a bottle in a nice restaurant. Drink two Heinekens an hour, and you’ve just lowered what it costs you to play each hour from $75 to $68.
Slot clubs also give back a share of your losses each hour, so definitely be sure you join the casino’s slot club and ALWAYS use your card to track your play. There is absolutely no reason not to do this. Casinos also reward their larger slot players with comps like meals, show tickets, and free rooms, which all add up to reduce the total amount of money you’re spending each hour that you’re playing on their machine.
Now how to be a winning slot machine player? I’d sum it up by saying know how much it’s costing you to play each spin and each hour, take advantage of all of the comps and the perks, and go for the big progressive jackpot.
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