This is the first part of a two part series on Using Probability in Slot Machines.
Is this even real? Yes it is; you can use probability as part of your slot winning strategy, which can be demonstrated with a perfect example. In the National Lampoon’s Vegas Vacation movie, do you recall Clark Griswold (Chevy Chase) having a gambling run? If you have seen the movie you would as it is the highlight. He’s on a horrible losing streak but his son (Ruth) on the other hand has won 4 cars from playing slots. Clark should have done a better job had he known a thing or two about probability.
Probability is an essential part of slot machines and can help you develop strategies that can guarantee sustained, if not great, payouts over a period of time. Here I will help you use probability in slot machines to improve your chances of winning!
When a casino is advertising that it has a payout of 90% on average on its slot machines, in the fine prints, you can clearly read that you will lose 10 cents for every dollar you use to play slots overtime. In terms of probability, this means that whatever your expected winnings are, they will be 10 cents less for each dollar you spend on playing slots. For instance, if you’re starting with $100 and you bet $1 each time you play, your average will be $90, since you’re losing 10% of your money to the machine regardless. Now if you use $100 in 81 plays, you will have $72.90 (i.e. 0.90 * 81). Now unless you are blessed with the divine hands of god, you will end up losing all your money on an average of 44 rounds.
Pulls and Probability
Following the above mentioned example, determine the number of pulls that you can play with $100. Well, since each consecutive time you play, you will have less money to play with, which means you will have fewer pulls left with each consecutive play. Now if you play with $1, you can get 972 pulls (44 rounds) with average payouts. However, you should remember that casinos alter the slot machines to spin faster as you continue playing. Some machines even use digital readouts. Hence, faster machines allow you to play 25 spins an hour. So if you do some math, 972 pulls by 25 spins an hour will result in 38.8 minutes. In other words, you won’t have as long as you thought to play your $100!
You will hear a lot of stories about what is better, playing with nickels or quarters or dollars. Well to be fair this is not one of those guides because here we will teach you to get the most out of whatever amount you’re playing slot machines with. So basically, your slot machine strategy outline should be:
- Knowing the Rules
- Winning Probability
- Expected Payouts
- Quit When Financially Healthy
Exclude everything else from your slot strategies if you have ever made one. Continue to the second part because we’re almost there!