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Gaming Guru
The Power of Slots II10 October 2023
Let us take a simple machine; the traditional one with three symbols that pays us if they hit. You can prorate the new machines you might play to the three-symbol winners that allow you to put in much more money / credits than the traditional three. The newer machines can take a lot more money from you, as can the progressive machines which have high house edges. Your comps should be more if you play the newer machines. The average house edge on the 25 cents machines is about 10 percent. A player might face 12 decisions an hour. That’s 75 cents (full coin) that comes to $9. That’s almost as much as the $10 table game wagers. The house edge on table games is usually well under 10 percent – more like a high of 2 to 5 percent. (The exceptions would be some bets on craps which can go sky high, even higher than the 75 cents slot-machine take.) A six-hour slot player at the traditional machine will put through $540 per hour and $3,240 in six hours. That player will be expected over time to lose $340 per day. Table-game players can expect to receive approximately 30 to 50 percent of their expected losses in the form of comps. Now, spend Friday, Saturday and Sunday in the casino and that $3,240 rises to $9720. The expected loss would be $1,020. [Please note: You can make this any three days. You can make this as many days as you go to the casinos in a month or year. It’s the total amount of expected losses that the casino needs to figure out what you are worth to them. Midweek players are worth more to the casino than weekend players. I am not exactly sure what the percentages are in this case.] Let us take 30 to 50 percent of the expected losses. The 30 percent return would be $306, while the 50 percent return would be $510. Midweek casinos will often give even low-level slot players free or greatly reduced rooms and restaurant reservations (you can get very, very fat at the buffets!). Yes, many casinos will offer gifts. Some players have so many steak knives that they would have to buy a ranch to use them all. Some casinos give them bottles of free wine. Where are you? If you are a dollar player or a five-dollar player just figure what the casino should give you as a reward for your expected losses. And get a host. Sometimes hosts will get you more! All the best in and out of the casinos! Frank Scoblete’s web site is www.frankscoblete.com. His books are available from Amazon.com, Barnes and Noble, Kindle, e-books, libraries and bookstores. This article is provided by the Frank Scoblete Network. Melissa A. Kaplan is the network's managing editor. If you would like to use this article on your website, please contact Casino City Press, the exclusive web syndication outlet for the Frank Scoblete Network. To contact Frank, please e-mail him at fscobe@optonline.net. Recent Articles
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