There are a number of different things to consider when playing slot machines. The theme of the machine is important, as is the type of the machine if you want to have the best time possible. Of all the things that people think about when it comes to slot machines, the odds are usually somewhere near the bottom. People play slot machines to have fun and try to strike it big, not to finagle odds slightly in their favor. However, this can be helpful if you do it properly and the information you need to know about slot machine odds to get that done is available below.
Determining Odds
The odds of a slot machine are determined through basic statistics, much in the same way that many other casino-based gaming odds are computed. In these statistical analyses, the two things to consider are the payouts and the probabilities. It does not matter if you are playing at Liberty Slots or Bovada Casino as they use software to compute their odds. Both Casinos are fair and their payout odds are certified.
The payouts are the amounts that you get for the particular combinations of slot machine symbols and they are usually expressed in coins. The reason that they are expressed in coins is that most slot machines allow you to spend variable amounts of money per coin and that in turn also means that the payouts will be different as well, making dollar definitions somewhat inaccurate. If a particular jackpot is 5000 coins and you wish to play for $1 a coin, hitting that jackpot would land you $5000.
In addition to the payouts, the probabilities are also relatively easy to calculate. The probability of a certain event is defined as the amount of times that particular event would appear in 100 spins. Decimals are allowed, so if you have a jackpot occurring once in 10,000 spins, the probability of that jackpot event would be 0.01.
The actual odds and the house edge are calculated by comparing the payouts to the probabilities. Since the payout on the jackpot in the above example is 5000:1 and the overall ratio of the jackpot occurring is 10,000:1, this is not a particularly good bet.
Payout Percentages
The above work requires a lot of math to complete and it is really not that fun to do. Luckily, you don't have to do the work since most Liberty Slots Casino machines are independently audited and already have this information available. The information is usually available in the form of payout percentages, which are equivalent to the amount of money paid out as a percentage of the amount of money taken in. This means that is a particular slot machine has a 95% payout percentage, $95 would be paid out for every $100 that was put into the slot machine. It also means that the house edge on that particular slot machine is 5%.
In the online casino industry, the payout percentage of a slot machine can vary greatly depending on the number of coins used per spin, the presence of a progressive jackpot and the particular slot machine in question. The average payout percentage of all slot machines online is believed to be in the low 90s. The vast majority of online slot machines offer payout percentages between 88% and 98%.
