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 finding a bad name. The actual simple truth is that in January 2009 a written report was launched by the Ontario Problem Gambling Research Centre stating that problem gamblers comprise a mere 3.2% of the entire gambling population in Canada. In August 2010, Stats Canada released its finding 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 in comparison to the spending as a whole.
Slots have existed since 1891 where the best poker hand was rewarded with beer and cigars. The very first conception of this 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 initial commercial machine which became coined “The One Arm Bandit” ;.The understanding behind the coined phrase was as a result of undeniable 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 reach, thus players often lost a bundle hoping to get the combination. From the problem in actually finding a jackpot people called the equipment a Bandit for stealing their money. Fey’s creation became so popular he couldn’t keep up with public demand. By 1964 the initial fully electronic slot machine was created and called the Money Honey.
Slots have been a well liked of many gamblers throughout history, although slot machines were also viewed as poor people man’s gamble in several bars across North America. Slot machines have risen in popularity since the creation of Microgaming and Random Number Generation Technology (RNG). RNG predicts the next symbols to appear on the slot machine window, dictating the total amount of money to be won, as opposed to weights that can be positioned on any given reel in favor of the casino, rather than the player. RNG has evened the playing field for the gamer to actually win money and spend less. The casino still reaps a profitable sum over time as new players put their money in and then leave to attend another machine.
Slot machines today are known to own 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 their machines; however most choose to not as a result of 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 typically have a payout rate of 98%.
How 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 create a slow but steady income stream from slot machines. An error that numerous slot players make is continuing to put large sums of money in to a slot with the hope of a large jackpot. If a person is using low risk betting strategies and understands RNG, the chances of building a considerable and consistent income stream is far more possible compared to one-off large jackpot.
So 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 around again. Wise money management is a very important element in winning at the slots. In the event that you enjoyed this information and want more comprehensive information regarding slot machine technology please feel free to get hold of me through email.