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Chances Of Winning On A Slot Machine

Here are some great ways to increase your chances at winning at the slot machines in a casino, or just about anywhere that you encounter a slot machine! Luck plays a huge role in successfully winning at slot machines, but there are some slot machine strategies that can maximize your chances to win. The probability of winning a significant amount of money on slot machines is slim to none. Casinos do not ordinarily disclose the odds of winning at their slot machines, so the slot players cannot be informed of their chances of winning. Believe me… the chances of winning big money on the slots are very low. However, most people do love to play the slots, and you can still increase your chances of winning some money with a few tips as follows.

  1. Odds Of Winning On A Penny Slot Machine
  2. How To Pick A Winning Slot Machine

Some video slot machines have a fixed maximum payout while other machines have progressive jackpots, which means they have a meter which increases the jackpot with every play where there is no return. The more people play these slot machines… the higher the jackpot becomes.

Progressive slots might seem to be the most attractive, due to the supposed high return, however the huge disadvantage of the progressive slots is that in most online casinos they are all linked together. Because of the number of people all playing for that huge jackpot amount, your odds of winning on a progressive slot machine are much lower. That lower probability of winning not only applies to the jackpot amounts, but also for the overall odds of winning smaller amounts. So it is more profitable to stick to the machines with a fixed maximum payout and limit your play on the progressive ones with the huge jackpots.

To have the very best chances of winning, at least in the short term, you should choose the slots that offer the smallest jackpots. These smaller jackpots are easier to win, which will increase your chances of walking away a winner. The bigger the jackpot, the harder it is to actually hit, and it is more likely that you might lose. It takes a lot of playing hours to create the huge jackpots which is why your chances of winning them are much lower. Games that are novelty themed with enormous jackpots have the worst odds of all, so you really should stick to the machines with the smaller prizes.

This is an amazing book, which everyone should have, if they play slot machines regularly!

Chances Of Winning On A Slot Machine

Slots are almost entirely down to chance, meaning there is very little strategy involved, and every player has the same odds of winning. You simply spin the reels and hope to match symbols along. The odds of winning any casino jackpot vary from one game to another, on different coin values for the different bets you place, and in some cases on a slot machine game with the same denomination but playing on different machines.

You won’t find it in a library or bookstore, but you can click on the photo and find a site where they sell it at a bargain price! Some online retailers charged $29.95 or $19.95 for the very same booklet!

If your favorite casino offers some sort of slots-specific promotions, or even a Player’s Club, where you get an ID Card and can insert it into a machine before beginning to play, it is definitely worth your time to take full advantage of these promotions. You might earn some points which can get you free food or merchandise, there might also be daily or nightly drawings where you can win prizes. Even a few free spins on a slot machine can possibly have the potential to earn you some massive prizes, and there’s really no cost to you to take advantage of these free offers from the casino.

I recently read an article where someone asked for advice on changing your bet size while playing slots. The idea was, when you get ahead, you raise your bets to try to hit a bigger win.

Over the years, I’ve also seen questions about betting more when you’re losing to try to make up for past losses when you hit a win.

These look like two different questions, but they’re actually the same question. And the answer should be the same to both questions.

In the article I just read, the answer was decent, but it didn’t cover the real reasons in enough depth. Anyone asking either of these questions doesn’t understand how slot machines work. They also don’t really understand how expected value and long term expectation works.

I’m going to explain why changing the size of your bet while playing slots doesn’t matter. The fact is that the more you bet, the more you lose. These two things might not seem to go together, but after you learn how slots work, you’re going to see why both statements are true.

Slots and Expected Value

Every slot machine in existence, whether located in a casino or online, has a built in house edge. The house edge is how the casinos make money, and it’s impossible to legally overcome the house edge on a slot machine in total. What I mean by “in total” is that slot machines make money collectively.

A few players win more than they lose in the short term, and a few lucky players win a big enough progressive jackpot to come out ahead. But overall, the slot machine industry is wildly profitable.

Expected value is a term often used in gambling that is a way to express the value of a betting decision. It’s used most often in poker to determine the best way to play a hand in a certain situation. You can also use it in games like blackjack to determine the best way to play a hand.

In games like poker and blackjack, you can make strategy decisions based on expected value. Bets on slot machines also have an expected value, but they’re all negative. A negative expected value means that, on average, you’re going to lose money.

Here’s an example of expected value on a slot machine.

If a slot machine has a house edge of 5% and you bet $1 on every spin, the expected value is -.05 per spin. On an individual spin, you might lose your entire $1 or win something, but the expected value is the amount you expect to lose on average over thousands of spins.

Expanding this example, if you make 500 bets in an hour, you’re expected value is -$25. In other words, you can expect to lose $25 an hour playing this slot machine. Once again, this is an average, so in any single hour, you can lose more or win.

The expected value is tied directly to the house edge. If you bet more than $1 per spin, it doesn’t change the house edge. You’re still going to have an expected value of -5% on every dollar you bet.

The house edge is the same whether you bet $1 or $100 per spin. It’s also the same if you lost the last three spins or won the last three spins. The house edge doesn’t change, so changing your bet sizes doesn’t help you win more often.

Slots Long Term Expectation

This is going to sound similar to what you learned in the last section because it’s closely related. The mistake many slots players make, like the ones asking the two questions in the opening section, is thinking past results in some way change future results.

But, if nothing you can do changes the house edge, how can you believe that you should raise your bets after a losing streak or after a winning streak?

The belief is that because the long term results must come very close to equaling the expected results that there must be a correction one way or another after a winning or losing streak. But the problem with this is that the house edge and expectation are based on a large number of outcomes.

Instead of it being based on 10 or 100 spins like many players act, it’s based on hundreds of thousands or millions of spins. Even if you win 10 spins in a row, it doesn’t change the odds of what’s going to happen on the next spin because the machines are based on such a large number of spins.

I’m trying to show you why without getting into complicated mathematical principles, but you can run the math on the effect of short streaks in large pools of results to prove what I’m saying is true.

The belief many players have about short term streaks is made worse when they guess correctly about the next result after a streak. This reinforces what they want to believe, even though the math shows it isn’t true.

If you win 10 spins in a row, what do you think is most likely to happen on the next spin? Some players say a loss, because the machine is due for a loss. Other players say a win, because the machine is hot. How can both opinions be true?

The fact is that neither opinion is true based on why they think they’re correct. The true chance of a win or loss is 100% based on how often the machine is programmed to produce a winning spin.

Is It Ever Correct to Alter Your Slots’ Bet Size?

When I play slots, I operate in what I call the “jackpot or bust” mode. I set aside a bankroll to chase a jackpot and keep playing until I either hit a jackpot or run out of money. Most of the time, I run out of money, but every once in a while, I get lucky and hit a small jackpot.

I know that, in the long run, I’m going to lose unless I hit a big slots jackpot. I’m okay with this, just like I’m okay with buying a lottery ticket chasing a big prize. Online casino win real money no deposit. The odds of winning are low, but I’m willing to risk a set amount for the chase.

I always bet the minimum amount on my chosen slot machine that allows me to qualify for a jackpot. I tend to look for machines that have a low bet threshold to unlock the jackpot, because I want to take as many spins as possible.

If you buy a lottery ticket, do you ever spend more money than the ticket costs? Do you give the store clerk $5 for a $3 ticket and not expect to get your $2 in change?

This is how I feel about betting more than I need to while playing slots. This is why I never bet more than the minimum to qualify for a jackpot while playing slots.

The question of changing your bet size while playing slots has two answers. The first answer is if you’re betting more than the minimum, then you should bet less. The second answer is that it doesn’t matter if you change the size of your bet for any other reason. As long as you understand that the more you bet the more you lose, you can do whatever you want. It’s your money, and you can play any way you like.

But if you want to know the best way to play, it’s simply to bet the smallest amount you can while still having a chance to win a jackpot.

Conclusion

You’re welcome to change the size of your bet while playing slots any time you like. It doesn’t matter if you’re winning or losing, changing the size of your bet isn’t going to alter your chances to win. The only thing that matters is the house edge you’re working against and the average bet size of your wagers.

When you bet more after a win, you’re just going to lose more in the long run. When you bet more when you lose, you’re just going to lose more in the long run. The only way to lose less money playing slots in the long run is to bet less.

Odds Of Winning On A Penny Slot Machine

The best way to lose less playing slots is to stop playing. But that’s not much fun, and you’re never going to hit a jackpot if you don’t play. I don’t recommend that you stop playing. But use smart money management so your bankroll lasts as long as possible and you have the best chance to hit a jackpot before you run out of money.

How To Pick A Winning Slot Machine

The only way you can possibly come out ahead in the long run playing slots is to win a jackpot big enough to cover all of your previous losses. This doesn’t happen often. The best chance to do this is to make the minimum bet that unlocks the chance at the jackpot and hope for the best. Changing your bet size isn’t going to help in the long run.