Online slots: Understanding payout schedules

 

An online casino slot machine payout schedule is a list of each possible return and its associated probability.  A straight online slots machine will have a payout schedule for the number of coins bet. For example the maximum payout for a one coin bet may be eight hundred coins, while a two coin bet will pay 1,600 coins and a three coin bet may pay a jackpot of 2,400 coins. Depending on the coins value, the actual payout will vary.  For the examples payout schedule, if the coin size were twenty five cents, a three coin bet would pay $600 and a $1 coin size would pay $2,400 for a three coin bet.  This example is from a balanced payout schedule.  More often you will see payout schedules that pay higher amounts when the maximum coins are played.

Slot machines are set up to encourage players to play more coins.  It is clear to see the more coins one bets, the better the odds and the payouts are. Most online slot machines allow you to select the value of the coin that you will play with.  When the payout schedule pays at a higher rate for more coins, you are better off playing smaller denominations and maximum coins.  This concept seems simple, but many jackpots have been lost by careless play.

If a slot machine has been paying off regularly it is said to be loose.  A slot machine that has not hit in a while is thought to be due.  These are myths and need to be understood as such.  Remember that past performance in no way effects future games.  Slot machines are completely random.  They use a random number generator to select winners. Each pull of a slot machine, or game, is completely separate than the previous game.  Luck is a larger factor in slots than in table games.  The key to slot machines is that they are set up with different payback percentages and hit frequencies.  Table game odds do not change much from casino to casino because the rules of these games are consistent.  Since there is very little skill involved in playing slots, you need to take advantage of every opportunity that you can.

If your goal is to play as long as possible you should look at the lower winning symbol combinations.  Choose a machine that offers the most winnings for the lower and medium symbol combos, because these are the ones you will be hitting most often, which will keep you playing longer.  Do not play a slot machine simply because it has a high maximum payout. The chances of winning a large jackpot are very small.  The odds of actually hitting the top combination do not change even when the payout rate is higher.  Machines that have balanced payout schedules and high payout rates will be your best bet if you are looking to play for a long time without spending a lot of money.  Play slot machines that have pay rates in line with your goals.