There are several theories and myths about the character of slot machines and whether a person can create a profit from them. With the growing awareness of gambling addiction, the slot machine is obtaining a bad name. The specific fact is that in January 2009 a report was released by the Ontario Problem Gambling Research Centre stating that problem gamblers comprise only 3.2% of the complete gambling population in Canada. In August 2010, Stats Canada released its finding that the sum total Canadian gambling revenue was estimated at $13.75 billion in 2009. When one considers the sum total Canadian revenue from gambling, the 3.2% of problem gamblers is relatively small in comparison to the spending as a whole.
Slots have been with us since 1891 where the very best poker hand was rewarded with beer and cigars. The initial conception of the gambling phenomena was introduced in Brooklyn slot joker, New York by two men, Sittman and Pitt. Soon after in 1895 the infamous Charles Fey developed the first commercial machine which became coined “The One Arm Bandit” ;.The understanding behind the coined phrase was because of the proven fact that Fey’s machine had three reels and five symbols with the greatest jackpot paying out ten nickels. Fey’s creation provided for 1000 number combinations before a jackpot combination was struck. This of course was difficult to achieve, thus players often lost a lot of money looking to get the combination. From the problem in actually obtaining a jackpot the public called the device a Bandit for stealing their money. Fey’s creation became so popular he could not match public demand. By 1964 the first fully electronic slot machine was created and called the Money Honey.
Slots have already been a favorite of several gamblers throughout history, although slot machines were also viewed as the poor man’s gamble in many bars across North America. Slot machines have risen in popularity considering that the creation of Microgaming and Random Number Generation Technology (RNG). RNG predicts the next symbols to appear on the slot machine window, dictating the total amount of money to be won, rather than weights that can be positioned on any given reel in support of the casino, rather than the player. RNG has evened the playing field for the ball player to actually win money and spend less. The casino still reaps a profitable sum over time as new players put their profit and then leave to attend another machine.
Slot machines today are known to have payout percentages of 80 – 98% and are pre-programmed with Microgaming due to their payout rates. Casinos can change the payout rate of their machines; however most choose never to because of the complex task and large expense of experiencing a chip replaced. Most slot machines with wagering levels of a penny to a fraction have lower payout rates than one dollar and higher machines. It is noted that five dollar machines typically have a payout rate of 98%.
Is it possible to win at slot machines today with the governing combination being chip technology? Absolutely! One needs to understand the RNG technology and how it’s employed in slot machines. Using simple tips and strategies, it’s very possible to create a slow but steady income stream from slot machines. An error that numerous slot players make is continuing to place large sums of money right into a slot with the hope of a large jackpot. If a player is using low risk betting strategies and understands RNG, the chances of building a substantial and consistent income stream is a lot more possible compared to the one-off large jackpot.
So next time you hit the land or online casinos, consider RNG and not chilling out for the large jackpot. Take your small wins and move to the next machine to begin it around again. Wise money management is an essential aspect in winning at the slots. If you enjoyed this short article and would really like more comprehensive information regarding slot machine technology please feel free to make contact with me through email.