There are many theories and myths about the nature of slot machines and whether a person can actually make a make money from them. With the growing awareness of gambling addiction, the slot machine is obtaining a bad name. The actual simple truth is that in January 2009 a written report was released by the Ontario Problem Gambling Research Centre stating that problem gamblers comprise only 3.2% of the whole gambling population in Canada. In August 2010, Stats Canada released its discovering that the full total Canadian gambling revenue was estimated at $13.75 billion in 2009. When one considers the full total Canadian revenue from gambling, the 3.2% of problem gamblers is relatively small when compared with the spending as a whole.
Slots have been with us since 1891 where the most effective poker hand was rewarded with beer and cigars. The first conception of the 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 undeniable fact that Fey’s machine had three reels and five symbols with the biggest jackpot paying out ten nickels. Fey’s creation provided for 1000 number combinations before a jackpot combination was struck. This obviously was difficult to accomplish, thus players often lost a fortune trying to get the combination. From the difficulty in actually obtaining a jackpot the public called the device 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 already been a well liked of several gamblers throughout history, although slot machines were also viewed as the poor man’s gamble in several bars across North America. Slot machines have risen in popularity because the creation of Microgaming and Random Number Generation Technology (RNG). RNG predicts the next symbols to seem on the slot machine window, dictating the total amount of money to be won, as opposed to weights that may be added to any given reel in support of the casino, as opposed to the player. RNG has evened the playing field for the player to truly win money and spend less. The casino still reaps a profitable sum with time as new players put their money in and then leave to visit another machine.
Slot machines today are known to possess payout percentages of 80 – 98% and are pre-programmed with Microgaming because of their payout rates. Casinos are able to change the payout rate of the machines; however most choose to not due to the complex task and large expense of getting a chip replaced. Most slot machines with wagering levels of a cent to a quarter have lower payout rates than one dollar and higher machines. It’s noted that five dollar machines routinely 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’s employed in slot machines. Using simple tips and strategies, it’s very possible to build a slow but steady income stream from slot machines. An error that many slot players make is continuing to put large sums of money in to a slot with the hope of a large jackpot. If a player is using low risk betting strategies and understands RNG, the odds of building an amazing and consistent income stream is far more possible compared to the one-off large jackpot.
So the next time you hit the land or online casinos, consider RNG and not chilling out for the large jackpot. Take your small wins and move to another location machine to start it throughout again. Wise money management is a very important factor in winning at the slots. If you enjoyed this information and would like more comprehensive information regarding slot machine technology please feel free to get hold of me through email.