The Slot machine is the only casino game where the odds are determined by your bet. It is generally know that the bigger the denomination the bigger the potential payback, so this is one of the main ways on how to win on slot machines.
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Even so, returns vary from one casino to another, so the actual amount of paybacks (such as 95 percent for $5 machine and 90 percent for nickel machines) can be quite different based on where you play. If a casino informs that its slot machines pay back 98 percent, for example, it frequently means, it pays up to 98 percent on a few machines. The qualification makes a huge difference because many casinos only have a few machines with the loosest odds. The average in all the dollar machines is usually much less (usually around 94 percent), and you will find no chance to find out which special machines are designed to pay out at the highest payback rate (98 percent). Although a $5 slot machine may have a payback of 95 percent and a nickel slot machine only 90 percent, you will still lose less cash with the nickels in the end because you risk less cash in each spin. On the flip side the winnings for the $5 machines will be higher.
Here is the calculation with five coins for each spin: $5 slot machine costs you 25¢ for each pull ($5 times the casino edge of five percent), and nickel machine costs you less than 3¢ for each pull (25¢ times the casino edge of ten percent). So although the casino edge is twice higher than the nickel slots (ten percent versus five percent), the nickel slots are essentially easier on your wallet (because, you only lose 2.5¢ per spin on the nickel slots compared to 25¢ for each spin on the dollar machine). Other likely budget-busters are the multi-payline, multi-bet video slot that are so hot nowadays – they may cost you a lot more compared to normal machine. A nickel machine can cost a mere 5¢ in a single coin spin; however, if you go with a maximum bet of 45 credits, the game in reality costs $2.25 per spin. A few machines allow up to ninety credits, meaning you would be betting $4.50 for each spin! Amazingly, even the maximum credit on the humble penny slots can be three hundred coins, or equal to $3.
Even at the minimal denomination, maximum betting can quickly drain your gambling budget, and you will soon find yourself feeding one more $20 bill into a ravenous penny slot machine – not exactly what you intended previously. When coin choices are sky-high, you are better off using a dollar slot machine for 1-2 coins instead of choosing a low-denomination maximum bet with lousy odds.