Slot machines have come a long way from being just a woman’s game. Today slot machines earn casinos more than 80% of their revenue. So how do slot machines generate so much revenue for casinos?
People put a lot of money into slot machines. In the beginning, slot machines were considered a timepass for women because it was not considered a big win situation. However, over the years with the introduction of video slots and much higher odds, slots became quite popular among men as well.
Modern slot machines are quite simple to understand and play. They involve the player inserting money, deciding on the bet, spinning the wheel and hoping for the best. There are several types of slot machines, some having physical reels and levers that you can pull or video slots that have virtual reels and levers. Either way, the work in similar ways and the games are totally played by chance. Video book is slightly different where the players are supposed to know a little bit about poker before playing it.
The algorithm of the slot machine is the main reason why it generates so much revenue. If you have five reels and each has five symbols, the chance of getting a jackpot is one in one hundred and twenty-five. However, most slot machines have at least ten symbols, and it multiplies the chance of not getting the jackpot exponentially.
So if it is basic probability, is it possible to get an edge over the casino by learning it? Actually, not really. This is because each slot machine has its own set house edge. And this makes it difficult to determine if the slot machine you are playing on has a house edge of 5 or 45 per cent. The odds are calculated by a computer and therefore will always favour the casino.
Maybe if you win in the first round itself, you may have the edge over the house. However, if you continue playing, the house edge will catch up to you, and you will find yourself losing more than you put in.
Another reason why slot machines generate so much revenue is because of the opaque odds of the game. This is why the math works so perfectly, as a person playing this does not know what the house edge is and therefore continues playing. So be careful while playing the slots because even if you get lucky, in the long-run, the casino becomes luckier.