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Slots house edge questions

Leeds England
Level Contributor
782 posts
4 reviews
1 helpful vote
Slots house edge questions

I read on another Vegas Board recently that the house edge on penny slots was 12.5%,$1 slots the edge is 6.6% and on $25 slots it comes right down to 3%.

First time I had seen this-normally you see printed the average slot house edge for the Strip,Downtown etc,which usually is around the 8/9% average mark (lower for Downtown).

So there I am this last May,quite happily putting my money in the penny slots (I know it's a leak-I go to Vegas to play poker but all gamblers have a weakness),thinking I am getting a 92% return when in fact it is 87.5%.Big difference,even on a dumb bet.

Added to this,I now find out from this board that Mlife points accrue at a lower rate for the themed penny slots I was enjoying playing-Star Wars,Airplane,Dean Martin etc due to licensing fees.

So makes them even worse value it appears.

So-are these percentages correct do you know?

Can you play penny themed slots at a higher denomination eg can you find $1 Hangover slots? Not talking about increasing the bet on a penny slot to $3 or the like as I know you can-but actually a different denomination.For example,do you see these themed video slots in the high stakes room?

If you do play a penny slot at max bet,is the house edge reduced from when you play at minimum bet ?

I am booked for Aria for a week next year,expect to end up putting around $3k to $4k coin in per day,so want to keep the house edge down as much as possible.I would be happy to play $5 slots if it kept the edge down to say 5/6%,but I thought they were all the older non video/themed slots.

Thanks

Harry

Philadelphia
Level Contributor
8,359 posts
1. Re: Slots house edge questions

All you can really do is use the varous reports from gaming control as a guide: http://gaming.nv.gov/gaming_revenue_rpt.htm

Kenosha, WI
Level Contributor
13,168 posts
16 reviews
7 helpful votes
2. Re: Slots house edge questions

Why not put that money down at a blackjack table where the house edge is even less? You may not accrue as many mLife points, but you may walk away with a lot more money.

Virginia
Level Contributor
1,580 posts
34 reviews
36 helpful votes
3. Re: Slots house edge questions

Looks like the biggest casinos on the strip take about

5% on $5 slots

6.5% on $1 slots

8% on $.25 slots

8.5% on $.05 slots

11.5% on .01 slots

Megabucks is almost 12%

1060 W Addison...
Level Contributor
10,156 posts
15 reviews
12 helpful votes
4. Re: Slots house edge questions

>> So-are these percentages correct do you know?

Nobody knows. Each and every slot of the floor can be set to just about whatever the casino wants (I believe there is a 75% minimum in Nevada.) One machine could be set to 80%, another to 99%.

The gaming reports show - ON AVERAGE - higher hold percentages on penny slots. However, those numbers are highly misleading in that what they call slots is really slots + VP. VP tends to have a lower hold percentage, and there isn't a lot of penny VP. So you are comparing penny slots with nickle/quarter/dollar slots+VP.

Even if you did somehow know the average for slots alone, there's no way to know what your actual machines is set for.

Note that the offical gaming reports include

Virginia
Level Contributor
1,580 posts
34 reviews
36 helpful votes
5. Re: Slots house edge questions

Zeke be right.

Thanks be to Zeke.

Even the banks of machines that say: "99% return!" Only a single machine in that bank needs to return 99%. The others can be set for whatever the casino chooses.

Wisconsin
Level Contributor
5,755 posts
11 reviews
18 helpful votes
6. Re: Slots house edge questions

There is no real way to know what the payback is on any individual machine. The reported numbers are just aggregate values reflecting the entire inventory in a casino. There may be a 98% machine right next to an 85% machine and you wouldn't know.

Variance is another issue. You might find a machine that pays out 100%, but if 90% of the return is a giant progressive jackpot, players could lose for years before one lucky player hits the jackpot.

Unless there is a bonus payout for playing max coins, the house edge remains consistent if you bet 1 coin per line or 5.

Most of the higher denomination slots are older style machines, but there are some newer "penny slot" style machines at quarters and even dollars.

But.... They keep the same number of lines and credits bet, so you go from playing 45 lines at a penny each to playing 45 lines at a dollar each. That can kill you bankroll in short order.

Leeds England
Level Contributor
782 posts
4 reviews
1 helpful vote
7. Re: Slots house edge questions

So I take it from this,that the house edge on a penny machine is set at the same percentage whether you are playing minimum or maximum bet?

Saint Joseph...
Level Contributor
2,792 posts
8. Re: Slots house edge questions

Pretty much an accepted premise that the house edge goes down as the denominations go up.

As for the "Always Play Max Bet" rule ...... my understanding was that in many games the pay tables and bonus awards reward max play ...... it does not affect the winning percentage.

Virginia
Level Contributor
1,580 posts
34 reviews
36 helpful votes
9. Re: Slots house edge questions

It may not affect the win percentage (i.e., the number of wins on a machine), but it probably does affect the house edge (i.e. the percentage of money the machine pays back).

Those two are very different.

Woodbury, Minnesota
Level Contributor
2,719 posts
21 reviews
19 helpful votes
10. Re: Slots house edge questions

In my opinion, the whole system should be changed with the new machines that are now in the casinos. On the older style machines, there was truly a difference between betting nickels, quarters, dollars, etc., because the machines only took 3 coins. Now we've got penny machines taking from 1 penny up to 400 or 500 pennies. Someone playing $4 a pop should not be playing at the same percentage as someone playing 15 pennies. The multi-denomination machines are even worse. Someone can play 1 penny on the same machine where someone can play 100 quarters.