Slots: House Advantage
by Wilson of Predictem.com
The house advantage in a casino is simply the casinos profit from the players bet or wager. Casinos count on the house advantage to keep them in the game. If casinos did not hold an advantage over their games there would be no Las Vegas, Atlantic City, or any casinos for that matter. Its just like any other business in the world; if you want succeed and get paid you have to inflate cost. I used to work for a major auto parts company and I was shocked at how high they raised their prices. They would sell a car battery for $120 to the average Joe off the street but I could buy the same battery at cost for around $40! Talk about inflation! Lets take a look at how slot machines figure into the casinos edge.
The old school way to figure out slot machine odds, or in other words, the house advantage was to count the number of reels and the amount of symbols on each reel for a particular machine. For example, a slot machine with three reels which had fifteen symbols on each reel would allow the player a 1 in 3375 chance in hitting the jackpot. You do a little math here by multiplying (15x15x15) which equals 3375 thus giving you the potential number of possibilities or combinations of winning.
Now days nearly all slot machines are computer driven. They are not mechanical and therefore are not set to hit on certain combinations. Todays slot machines are run by the RNGs (random number generator). The RNG is a computer chip that decides what combinations will come up.
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If you play online slot machines you will likely have a better chance of winning as there tends to be higher payouts. Computer software has made the world of slot play incredibly accessible especially for online implementation. In fact some sites have been known to hit 100% payback for a given month.
Of course the longer you play the more likely you will hit the house edge as time is against you when you gamble on anything.
There is really no way of knowing what your odds of winning are with the new modern slots which are run by the RNGs. But you should always look for the highest payback offer and hope to get in quickly and win then exit just as quickly.
Basically the house advantage is the difference or whats leftover after the advertised payout. For example, if a casino has a row of slots or an online casino is offering 99% return on every dollar played this means for every dollar you play you will (overtime) get .99 cents back. However, this could be an hour or a week it depends on the luck of the spins! Remember that you are never guaranteed your money back as casinos would not survive if they gave everyone their cash back!
On average most casinos online will be your best odds for slot machine play. But land based casinos offer similar odds but less variety. The big paydays are the progressive slots while the consistent blue collar payouts will come on the non-progressive slots. Luck to ya.