- How Often Do Slot Machines Pay Out Jackpots Against
- How Often Do Slot Machines Pay Out Jackpots Money
- Slot Machine Jackpot Videos
Since jackpots online and offline have been in existence, people have asked themselves the eternal question, how often do slot machines hit the jackpots?
We often get asked how to cheat a slot machine with a magnet. He worked out the computer chips inside the machines could be re-programmed to be manipulated to pay out jackpots on tap.
It’s been a question inviting both hope and trouble. We’re here to discuss the odds of slot wins and look under the hood of how big slot wins online and offline work, and more importantly, how often they occur. There’re several key aspects of the experience to consider before you can make an informed decision. The main things you should be looking into when it comes to playing slots are:
- The Return to Player (RTP) rates of the game
- The slot volatility, i.e. frequency of payout
- The actual probabilities of landing a big slot win
Before we delve into the essence of how often slot machines payout, we must be perfectly honest with each other; we can’t distil the nature of slot payouts to a pristine formula and no matter how good we are at understanding the why behind these games, there will be a substantial part that will depend on pure luck alone, even if you play at the best paying slots sites around.
Slot Machines: The Basics
Each slot machine comes with a randomised outcome thanks to the technology in the very crux of it – the Random Number Generator (RNG). RNGs are cutting-edge algorithms that guarantee the “complete randomness” at a casino. The RNG is needed to help computers create randomness, as they are programmed to predict an outcome and don’t understand “random” the same way you and we do.
When it comes to actual casino play, there is absolutely no way of knowing when a jackpot will arrive. The average pay cycle for each game will vary. It’s worth logging your spin outcomes as it can help you determine when the jackpot window has a more probable chance of being open. However, the complete randomness of the RNG makes it impossible for anyone, be that a supercomputer or a mathematical wiz, to determine the outcome or be able to call the exact time a big jackpot will actually hit.
Tempted by the idea of imminent big slot wins, many players have been persistent in their determination to spot the patterns.
Progressive Jackpot Patterns in Slots
It’s worth spending more time observing rather than playing yourself. In 2016, the win cycles for Mega Moolah happened every 70 days, give or take, but it’s worth noting that there were only four payouts the entire year.
The payouts started early in April and continued through late November. In 2019, we’ve already witnessed slightly more hectic results that haven’t followed a particular pattern so far. The first win came on January 30th, 2019, followed by another one on March 5th and then another one on March 6. If the wide-spread trend repeats itself, we can expect the next jackpot to hit 33 days from March 6th, around April 8th or before that.
This would be a fair observation. In 2017, the space of each was at least a month, but not exceeding two months. There were 13 wins in total, the game’s largest number on record.
Does capturing historical statistical data help determine when a mega jackpot is likely to payout?
The answer is – not really. While there is some evidence to suggest that payout cycles happen in a window of one or two months, we have no way of knowing how many slots wins there are going to be on any given specific year.
There is a reason why certain games never manage to amass a multi-million jackpots, this has to do with the return to player (RTP) rates and the volatility.
Consider the RTPs in Slots Online
Just because an outcome is random, doesn’t mean we can’t pick the games statistically more likely to payout. Whether it’s a progressive jackpot or a fixed jackpot, the Return to Player (RTP) will tell you a little something about what to expect.
Now, here’s the thing about RTPs. They are accurate, but in order to get them right, you will need to play around 10,000 spins. Anything below that, and you may end up with deviations. Playing less than 10,000 RTPs can still turn out accurate, it’s just for the most accurate results, you will have to play through towards that figure.
It’s like flipping a coin 10 times vs flipping it 1000 times, you can certainly expect that 50-50 outcome to be more accurate after 1000 times than 10 times when a freak outcome of 80-20 is more probable. RTPs don’t factor the bonus amount, so when considering them you must keep that in mind and regard them as something that will help you extend your stay at a casino and keep a healthy budget.
If you do avoid the progressive games, you can guarantee yourself a slightly more controlled type of play and less risk in exchange for more frequent returns.
Slot Volatility: Pay Attention
‘Volatility’ in slots and other casino games refers to the payout frequency a slot has and how much is paid. Again, this is more applicable to your regular slots wins rather than the big slot wins you want to get by landing a mega jackpot. And yet, volatility will help you plan your bankroll just a little bit better.
Playing high volatility games means that the payouts will be bigger, but you will also have more cold streaks when the spins won’t get you any return. With low volatility, you will enjoy frequent payouts, but not really big winnings.
There are trade-offs and depending on your budget, you will find both slots applicable. When it comes to jackpots, Mega Moolah, which we used as an example here, is definitely on the high-end of the volatility spectrum. So don’t be too disappointing if you have a run of 10 or 20 spins with no payouts at all, that’s just the nature of a high volatility slot game.
If you are looking for low-volatility jackpot games, you can opt for a game such as Dead or Alive by NetEnt. The standard jackpots payout around 200-1000 coins a payout, making this game a perfect pick for those of you who enjoy slot machine jackpots but don’t have a larger bankroll than you need to play through for the mega jackpots.
Staying on Top of Your Bankroll
If you are keen on getting some decent slot wins, you needn’t necessarily go after the highest-risk games. It’s quite possible to build slot wins incrementally, indulging in games that have steadier, even if somewhat smaller payouts.
Jackpot hunting is a tough game and while quite a few people report big slot wins you will have to remind yourself that luck has no small part to play in the final outcome. Only after realising this can you use the other information you have learnt here to better your odds at securing a hefty prize.
Remember the movie National Lampoon’s Vegas Vacation, when gambling fever consumes Chevy Chase’s character, Clark W. Griswold? He goes on a losing streak to beat all losing streaks while his son, Rusty, wins four cars by playing the slot machines. Maybe Clark would have done better if he had read Probability For Dummies! In this article, you discover the basic ideas behind slot machines and how they work, so that you can get past the myths and develop a strategy based on sound probability.
Understanding average payout
When casinos advertise that their slot machines pay out an average of 90 percent, the fine print they don’t want you to read says that you lose 10 cents from each dollar you put into the machines in the long term. (In probability terms, this advertisement means that your expected winnings are minus 10 cents on every dollar you spend every time the money goes through the machines.)
Suppose you start with $100 and bet a dollar at a time, for example. After inserting all $100 into the slot, 100 pulls later you’ll end up on average with $90, because you lose 10 percent of your money. If you run the $90 back through the machine, you’ll end up with 90 percent of it back, which is 0.90 x 90 = $81. If you run that amount through in 81 pulls, you’ll have $72.90 afterward (0.90 x 81 = 72.90). If you keep going for 44 rounds, on average, the money will be gone, unless you have the luck of Rusty Griswold!
How many pulls on the machine does your $100 give you at this rate? Each time you have less money to run through the machine, so you have fewer pulls left. If you insert $1 at a time, you can expect 972 total pulls in the long term with these average payouts (that’s the total pulls in 44 rounds). But keep in mind that casinos are designing slot machines to go faster and faster between spins. Some are even doing away with the handles and tokens by using digital readouts on gaming cards that you put into the machines. The faster machines can play up to 25 spins per hour, and 972 spins divided by 25 spins per minute is 38.88 minutes. You don’t have a very long time to enjoy your $100 before it’s gone!
How Often Do Slot Machines Pay Out Jackpots Against
The worst part? Casinos often advertise that their “average payouts” are even as high as 95 percent. But beware: That number applies only to certain machines, and the casinos don’t rush to tell you which ones. You really need to read or ask about the fine print before playing. You can also try to check the information on the machine to see if it lists its payouts. (Don’t expect this information to be front and center.)
Implementing a simple strategy for slots
Advice varies regarding whether you should play nickel, quarter, or dollar slot machines and whether you should max out the number of coins you bet or not (you usually get to choose between one and five coins to bet on a standard slot machine). In this section, you’ll find a few tips for getting the most bang for your buck (or nickel) when playing slot machines.
Basically, when it comes to slot machines, strategy boils down to this: Know the rules, your probability of winning, and the expected payouts; dispel any myths; and quit while you’re ahead. If you win $100, cash out $50 and play with the rest, for example. After you lose a certain amount (determined by you in advance), don’t hesitate to quit. Go to the all-you-can-eat buffet and try your luck with the casino food; odds are it’s pretty good!
Choosing among nickel, quarter, and dollar machines
The machines that have the higher denominations usually give the best payouts. So, between the nickel and quarter slots, for example, the quarter slots generally give better payouts. However, you run the risk of getting in way over your head in a hurry, so don’t bet more than you can afford to lose. The bottom line: Always choose a level that you have fun playing at and that allows you to play for your full set time limit.
How Often Do Slot Machines Pay Out Jackpots Money
Deciding how many coins to play at a time
When deciding on the number of coins you should play per spin, keep in mind that more is sometimes better. If the slot machine gives you more than two times the payout when you put in two times the number of coins, for example, you should max it out instead of playing single coins because you increase your chances of winning a bigger pot, and the expected value is higher. If the machine just gives you k times the payout for k coins, it doesn’t matter if you use the maximum number of coins. You may as well play one at a time until you can make some money and leave so your money lasts a little longer.
For example, say a quarter machine pays 10 credits for the outcome 777 when you play only a single quarter, but if you play two quarters, it gives you 25 credits for the same outcome. And if you play the maximum number of quarters (say, four), a 777 results in 1,000 credits. You can see that playing four quarters at a time gives you a better chance of winning a bigger pot in the long run (if you win, that is) compared to playing a single quarter at a time for four consecutive tries.
Slot Machine Jackpot Videos
The latest slot machine sweeping the nation is the so-called “penny slot machine.” Although it professes to require only a penny for a spin, you get this rate only if you want to bet one penny at a time. The machines entice you to bet way more than one penny at a time; in fact, on some machines, you can bet more than 1,000 coins (called lines) on each spin — $10 a shot here, folks. Because these machines take any denomination of paper bill, as well as credit cards, your money can go faster on penny machines than on dollar machines because you can quickly lose track of your spendings. Pinching pennies may not be worth it after all!