Slot machines dominate the gambling industry. Casinos look for ways to make the machines more entertaining for gamers because the devices are responsible for most of a casino’s revenue. Here are 15 exciting facts about slots, and gambling, that you may not know.
Some Facts and Stats
1. A slot machine is most profitable when players spend more time on the device. Manufacturers are always seeking new ways to get a gamer hooked on playing the slots. The more time spent on the machine means more money in the pockets of casino owners.
2. Regulations make casinos adhere to specific rules. The slot games can’t mislead a player in any way. The symbol placements have to meet particular requirements. Payout returns are independently audited for each machine.
3. Las Vegas has so many slot machines that there is one per every eight residents in the city. There are more than 200000 slots in Vegas.
4. Slot machines give the house a higher edge than other casino games. Random number generator technology makes it impossible to determine how much of an advantage the house has over each player. For example, one machine could have a 25 percent edge, while the game next to it has a four percent edge.
5. In 2003, a 25-year-old won $39 million playing a slot machine in Las Vegas. It’s undoubtedly the most money ever won on a slot game. He risked only $100. In 2001, a player won $1 million, the biggest payout at that time. Another player won $65000 in 1973. He held the record till the 2001 win.
Money Making Slots
6. Slot machines take in 85 percent of total casino revenue. In the 80s, craps and blackjacks brought in the most money. Today, slots are the most popular game. This is why casino owners put stools in front of the machine. They want the players comfortable while the money is rolling in.
7. A machine is never “due” to pay out. That’s a myth. Slots are continually generating random codes, even internet slot games. Whether online or in the casino, the slot’s results are code created. There is nothing gamers can do to influence the results of the slot machine’s spin. Both casino and online slot games results are random.
8. Some stand-alone slots have a jackpot that is equal to lottery winnings. A prize from a progressive slot machine continues to grow until someone wins. One called “Megabucks” starts at $10 million. Players have more chance of winning on these slot machines than winning the lottery.
9. The inventor of the original slot machine, Charles Fey, wouldn’t even recognize the components of the modern version. Slot machine technology has changed over the years. Manufacturers have gone from installing levers and reels to engineering random number technology and touchscreens.
10. During the recession, a few state governments legalized gambling to make money without raising taxes. Today, forty-one states have legalized slot gambling. Agencies regulate most machines, but some unregistered machines operate in unusual places like gas stations and restaurants.
11. From outer space, the lights of Las Vegas look brighter than any other spot on earth. However, with more than five million machines, Japan has more slots than any other country. The United States is second with more than 800000 slot games.
12. Las Vegas is a top vacation destination with 40 million tourists visiting yearly, spending an average of $1000 each. The city makes $40 billion in revenue from tourists.
13. Close to 80 percent of locals that gamble in Las Vegas prefers slots to other casino games. About two-thirds of Las Vegas’ more than two million residents gamble. Local gamers drive the casino economy.
14. Most of Gamblers Anonymous attendees are slot machine gamers. Problem gamblers make up 30 to 60 percent of gambling revenue. Slot machine players are four times more likely to become addicted to gambling. Manufacturers design slot machines to entice players to continue to play.
15. Themed slots associate the game with something the gambler can relate to, such as television shows, movies, game shows, and famous musicians.
New generations of gamers are spending more time playing slots. Some players hit the jackpot, but the odds are the with the house.