There are numerous theories and myths about the type of slot machines and whether an individual can make a make money from them. With the growing awareness of gambling addiction, the slot machine is getting a bad name. The particular truth is that in January 2009 a written report premiered 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 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 existed since 1891 where the most effective poker hand was rewarded with beer and cigars. The very first conception of the gambling phenomena was introduced in Brooklyn slot joker, New York by two men, Sittman and Pitt. Shortly after in 1895 the infamous Charles Fey developed the first 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 needless to say was difficult to accomplish, thus players often lost a fortune looking to get the combination. From the difficulty in actually getting a jackpot the general public called the machine a Bandit for stealing their money. Fey’s creation became so popular he could not maintain public demand. By 1964 the first fully electronic slot machine was created and called the Money Honey.
Slots have now been a popular of several gamblers throughout history, although slot machines were also viewed as the indegent man’s gamble in many bars across North America. Slot machines have risen in popularity considering that the creation of Microgaming and Random Number Generation Technology (RNG). RNG predicts the next symbols to appear on the slot machine window, dictating the quantity of money to be won, as opposed to weights that may be placed on any given reel in favor 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 profit and then leave to attend another machine.
Slot machines today are known to possess payout percentages of 80 – 98% and are pre-programmed with Microgaming for his or her payout rates. Casinos can change the payout rate of these machines; however most choose not to due to the complex task and large expense of having a chip replaced. Most slot machines with wagering amounts of a cent to a quarter have lower payout rates than one dollar and higher machines. It is 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 know the RNG technology and how it’s employed in slot machines. Using simple tips and strategies, it’s very possible to create a slow but steady income stream from slot machines. A blunder that many slot players make is continuing to place large sums of money in to a slot with the hope of a big jackpot. If a person is using low risk betting strategies and understands RNG, the likelihood of building an amazing and consistent income stream is much more possible compared to the 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 all over again. Wise money management is an essential element in winning at the slots. If you enjoyed this article and want more comprehensive information regarding slot machine technology please feel free to contact me through email.