Canadian Slot Machine Payouts
For most casino table games, a straightforward calculation will reveal the House edge—i.e., the amount the casino can be expected to retain out of every dollar played. That advantage ranges from a low of less than one percent on blackjack (when played with the optimum strategy) to 1.41% on Pass/Come bets at the craps table and 5.26% for American roulette.
Slot machines, however, are an enigma. Without knowing the number of “stops” (resting positions) associated with each symbol on the reel, no such calculations can be made. Even then, the payouts are complicated by the number and frequency of bonus games and multipliers built into the pay tables for maximum bets. Therefore, the most accurate indicator of how much of every wagered dollar the casino expects to keep can only be found in “slots payback percentages.”
The payback percentage of any given slot machine is the total amount of cash it has paid out divided by the total amount of cash accepted by that machine over a specified period of time, i.e. The ratio of winnings to wagers. If a player bets $1 on each spin for 100 spins and ends up with $97, then the payout is 97:100 or 97%. The random number generator on a machine remains constant — the return is determined by what the program does with the random numbers. Do higher slot machines offer better payouts? In general the higher the coinage, the better the rate of return. Do casinos change the percentage on slot machines? They do, but not often.
- High-End Software
- eChecks for Canadians
- Massive Promotions
- Game Variety
- www.royalvegas.com
- 100%
- Not Accepted
- Yes
- 2000
Payback Is Predetermined
The payback percentage of any given slot machine is the total amount of cash it has paid out divided by the total amount of cash accepted by that machine over a specified period of time, i.e. the ratio of winnings to wagers. If a player bets $1 on each spin for 100 spins and ends up with $97, then the payout is 97:100 or 97%. That’s equivalent to a House edge of 3.0%, which is referred to in slots play as the “hold percentage.”
For each machine, the payback percentage will vary somewhat from hour to hour or day to day, but over the lifetime of the machine it will approach a specific number that was incorporated into its programming at the factory. In fact, casinos select the targeted payback/hold percentages when they order the units from the manufacturer, so the numbers are by no means arbitrary.
Nor do the casinos and manufacturers have unlimited freedom to choose any payback percentage they like. To protect consumers, a minimum threshold is fixed by law. The percentage may not fall below whatever standards have been set by the local regulatory authority. In some jurisdictions, the minimum may be as low as 75%. Typically, there is no maximum limit, but in order for the slot operator to make a profit, the targeted percentage must obviously be less than 100%.
Legal payback percentages are not based on averages, either. Most jurisdictions are like Nevada, where the Gaming Control Board requires that each and every machine in the state must meet minimum payback percentages. The payouts are monitored so that any noncompliant machines can be removed from play and recalibrated. This serves two purposes: protecting players from an unfair House edge and ensuring that the casino earns a predictable income.
Playing by the Percentages
Most slot operators realize that it is to their advantage to offer slots with payout ratios well above the minimum required by law. Market economics is the key determinant. With a payback percentage close to 99%, the casino’s margin is tiny, but volume will be high because players will risk and bet much more money. Conversely, when the payback percentage is low, the profit per wager may be higher, but the volume of play will drop as soon as players figure out how difficult it is to win. They will start taking their business elsewhere.
That means the challenge faced by every casino is how to set the slot payback percentages for optimum profitability. The point of equilibrium may be very elastic—anywhere between 80% and 95%, as a rule. The problem for players, of course, is that the casinos do not make this information readily available. At best, they publish a monthly “average,” including the payback rates of all machines in a single figure. Customers have to discover on their own which slots are “loose” (high payback percentages) and which ones are “tight” (low percentages).
It is worth noting that online slots typically offer higher payback percentages than those found in land-based casinos. That’s because they have less overhead and more competition. Also, slots located in rather isolated areas, such as on Native American Indian reservations, may have much lower payback percentages, owing to the lack of local competition. It certainly pays to shop around and seek out the loosest games available.
Time Limited Offer For Canadian Players -$1200 Free Play-through Bonus (not a typo)
Royal Vegas is going crazy with their promos this month if you are a Canadian based player. They are a serious operator and accept a host of easy deposit options such as eCheck. Quick payouts, and highly recommended.
Related posts:
- Nickel Machines Nickel slots are designed for those fruit machine players who can’t get excited about penny-ante slot machine designs, but don’t want the wild swings of fortune that come with higher...
- Penny Machines Penny slots are a boon to the budget gambler who doesn’t want to go broke playing the one-armed bandits. Players new to fruit machine gaming should know that most penny...
- Casino Slots vs. Internet Slots Slot machines are far and away my favorite games in any casino, online or land-based. I’ve played my fair share of blackjack and roulette at casinos in Canada and at...
- Leaving Las Vegas: Why Canadian Casinos are the Better Choice One of the major reasons informed gamblers take their business to land-based casinos in highly regulated areas is because they know the government mandates a specific payout ratio. If that...
- Online Slots Strategy If you know anything about slot machines, you know they’re considered games of chance. That means that the outcome of the game is based entirely on luck. Modern slot machines,...
- The Nerdiest Slots If a slots manufacturer wanted to design a machine that would appeal to the nerds of the world, it would have to incorporate some whiz-bang features that might put normal...
For most casino table games, a straightforward calculation will reveal the House edge—i.e., the amount the casino can be expected to retain out of every dollar played. That advantage ranges from a low of less than one percent on blackjack (when played with the optimum strategy) to 1.41% on Pass/Come bets at the craps table and 5.26% for American roulette.
Slot machines, however, are an enigma. Without knowing the number of “stops” (resting positions) associated with each symbol on the reel, no such calculations can be made. Even then, the payouts are complicated by the number and frequency of bonus games and multipliers built into the pay tables for maximum bets. Therefore, the most accurate indicator of how much of every wagered dollar the casino expects to keep can only be found in “slots payback percentages.”
- High-End Software
- eChecks for Canadians
- Massive Promotions
- Game Variety
- www.royalvegas.com
- 100%
- Not Accepted
- Yes
- 2000
Payback Is Predetermined
The payback percentage of any given slot machine is the total amount of cash it has paid out divided by the total amount of cash accepted by that machine over a specified period of time, i.e. the ratio of winnings to wagers. If a player bets $1 on each spin for 100 spins and ends up with $97, then the payout is 97:100 or 97%. That’s equivalent to a House edge of 3.0%, which is referred to in slots play as the “hold percentage.”
For each machine, the payback percentage will vary somewhat from hour to hour or day to day, but over the lifetime of the machine it will approach a specific number that was incorporated into its programming at the factory. In fact, casinos select the targeted payback/hold percentages when they order the units from the manufacturer, so the numbers are by no means arbitrary.
Nor do the casinos and manufacturers have unlimited freedom to choose any payback percentage they like. To protect consumers, a minimum threshold is fixed by law. The percentage may not fall below whatever standards have been set by the local regulatory authority. In some jurisdictions, the minimum may be as low as 75%. Typically, there is no maximum limit, but in order for the slot operator to make a profit, the targeted percentage must obviously be less than 100%.
Legal payback percentages are not based on averages, either. Most jurisdictions are like Nevada, where the Gaming Control Board requires that each and every machine in the state must meet minimum payback percentages. The payouts are monitored so that any noncompliant machines can be removed from play and recalibrated. This serves two purposes: protecting players from an unfair House edge and ensuring that the casino earns a predictable income.
Canadian Slot Machine Payouts Odds
Playing by the Percentages
Canadian Slot Machine Payouts Jackpot
Most slot operators realize that it is to their advantage to offer slots with payout ratios well above the minimum required by law. Market economics is the key determinant. With a payback percentage close to 99%, the casino’s margin is tiny, but volume will be high because players will risk and bet much more money. Conversely, when the payback percentage is low, the profit per wager may be higher, but the volume of play will drop as soon as players figure out how difficult it is to win. They will start taking their business elsewhere.
That means the challenge faced by every casino is how to set the slot payback percentages for optimum profitability. The point of equilibrium may be very elastic—anywhere between 80% and 95%, as a rule. The problem for players, of course, is that the casinos do not make this information readily available. At best, they publish a monthly “average,” including the payback rates of all machines in a single figure. Customers have to discover on their own which slots are “loose” (high payback percentages) and which ones are “tight” (low percentages).
It is worth noting that online slots typically offer higher payback percentages than those found in land-based casinos. That’s because they have less overhead and more competition. Also, slots located in rather isolated areas, such as on Native American Indian reservations, may have much lower payback percentages, owing to the lack of local competition. It certainly pays to shop around and seek out the loosest games available.
Time Limited Offer For Canadian Players -$1200 Free Play-through Bonus (not a typo)
Royal Vegas is going crazy with their promos this month if you are a Canadian based player. They are a serious operator and accept a host of easy deposit options such as eCheck. Quick payouts, and highly recommended.
Related posts:
- Nickel Machines Nickel slots are designed for those fruit machine players who can’t get excited about penny-ante slot machine designs, but don’t want the wild swings of fortune that come with higher...
- Penny Machines Penny slots are a boon to the budget gambler who doesn’t want to go broke playing the one-armed bandits. Players new to fruit machine gaming should know that most penny...
- Casino Slots vs. Internet Slots Slot machines are far and away my favorite games in any casino, online or land-based. I’ve played my fair share of blackjack and roulette at casinos in Canada and at...
- Leaving Las Vegas: Why Canadian Casinos are the Better Choice One of the major reasons informed gamblers take their business to land-based casinos in highly regulated areas is because they know the government mandates a specific payout ratio. If that...
- Online Slots Strategy If you know anything about slot machines, you know they’re considered games of chance. That means that the outcome of the game is based entirely on luck. Modern slot machines,...
- The Nerdiest Slots If a slots manufacturer wanted to design a machine that would appeal to the nerds of the world, it would have to incorporate some whiz-bang features that might put normal...