SEARCH NEWS:

 

Shift in Slot Machine Mix Boosts Iowa Casinos' Odds

``State Racing and Gaming Commission records show the floating casinos have tipped the odds in the favor by 7.7 percent since 1999, adding $62.3 million in revenue. That coincides with the addition of more multicoin slot machines, which give players the worst overall odds, but allow them to bet as much or more than machines with better odds.

``...There was no plan to make the odds worse for players, Scott County riverboat casino representatives said.

``Rather, the worse odds reflect player demand for new, multi-coin nickel slot machines, even though players are less likely to win.

``The players have voted with every pull on the arm or push of a button on nickel slots, said Michael Hirsch, the general manager of Isle of Capri Casino in Bettendorf.

``...The odds for slot machines are controlled by computer chips inside the machine. The chips set the machines to only release a certain percentage of coins played as winnings. The rest are held back for the casino

``For example, a machine with a "hold" of 10 percent will, over time, return $90 of every $100 played to the player and keep $10 for the casino.

``That percentage has increased from 6.17 percent in 1999 to 6.65 percent in 2002.

``...Iowa's number of nickel slot machines has steadily increased by 152 percent, from 1,392 in 1999 to 3,503 in 2002..."

< Gaming News