There are many theories and myths about the nature of slot machines and whether a person can actually make a benefit from them. With the growing awareness of gambling addiction, the slot machine is obtaining a bad name. The specific simple truth is that in January 2009 a written report was released by the Ontario Problem Gambling Research Centre stating that problem gamblers comprise a mere 3.2% of the whole gambling population in Canada. In August 2010, Stats Canada released its finding that the sum total Canadian gambling revenue was estimated at $13.75 billion in 2009. When one considers the sum total Canadian revenue from gambling, the 3.2% of problem gamblers is relatively small in comparison to the spending as a whole.
Slots have been with us since 1891 where the best poker hand was rewarded with beer and cigars. The first conception of this gambling phenomena was introduced in Brooklyn slot joker, New York by two men, Sittman and Pitt. Right after in 1895 the infamous Charles Fey developed the initial commercial machine which became coined “The One Arm Bandit” ;.The understanding behind the coined phrase was due to the proven fact that Fey’s machine had three reels and five symbols with the greatest jackpot paying out ten nickels. Fey’s creation provided for 1000 number combinations before a jackpot combination was struck. This obviously was difficult to achieve, thus players often lost a lot of money looking to get the combination. From the problem in actually obtaining a jackpot the public called the equipment a Bandit for stealing their money. Fey’s creation became so popular he could not match public demand. By 1964 the initial fully electronic slot machine was created and called the Money Honey.
Slots have now been a well liked of several gamblers throughout history, although slot machines were also viewed as the indegent man’s gamble in several bars across North America. Slot machines have risen in popularity considering that the creation of Microgaming and Random Number Generation Technology (RNG). RNG predicts another symbols to seem on the slot machine window, dictating the amount of money to be won, as opposed to weights that may be positioned on any given reel and only the casino, rather than the player. RNG has evened the playing field for the player to actually win money and spend less. The casino still reaps a profitable sum with time as new players put their profit and then leave to visit another machine.
Slot machines today are known to have payout percentages of 80 – 98% and are pre-programmed with Microgaming for their payout rates. Casinos are able to change the payout rate of their machines; however most choose to not due to the complex task and large expense of having a chip replaced. Most slot machines with wagering levels of a dime to a fraction have lower payout rates than one dollar and higher machines. It’s noted that five dollar machines normally have a payout rate of 98%.
Is it possible to win at slot machines today with the governing combination being chip technology? Absolutely! One needs to comprehend the RNG technology and how it is employed in slot machines. Using simple tips and strategies, it is very possible to build a slow but steady income stream from slot machines. An error that lots of slot players make is continuing to place large sums of money in to a slot with the hope of a sizable jackpot. If a new player is using low risk betting strategies and understands RNG, the likelihood of building an amazing and consistent income stream is a lot more possible compared to one-off large jackpot.
So the next time you hit the land or online casinos, consider RNG and not hanging out for the large jackpot. Take your small wins and move to another machine to begin it throughout again. Wise money management is a very important element in winning at the slots. In the event that you enjoyed this article and would really like more comprehensive information regarding slot machine technology please feel free to contact me through email.