There are several theories and myths about the type of slot machines and whether an individual can in fact produce a make money from them. With the growing awareness of gambling addiction, the slot machine is obtaining a bad name. The actual fact is that in January 2009 a written report was published by the Ontario Problem Gambling Research Centre stating that problem gamblers comprise a mere 3.2% of the complete gambling population in Canada. In August 2010, Stats Canada released its finding 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 compared to the spending as a whole.
Slots have been around since 1891 where the very best 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. Right after in 1895 the infamous Charles Fey developed the very 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 attain, thus players often lost a lot of money hoping to get the combination. From the difficulty in actually obtaining a jackpot the public called the equipment a Bandit for stealing their money. Fey’s creation became so popular he could not maintain public demand. By 1964 the very first fully electronic slot machine was created and called the Money Honey.
Slots have already been a well liked of several 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 considering that the creation of Microgaming and Random Number Generation Technology (RNG). RNG predicts the following symbols to appear on the slot machine window, dictating the total amount of money to be won, as opposed to weights which can be added to any given reel in favor of the casino, rather than the player. RNG has evened the playing field for the gamer to really win money and spend less. The casino still reaps a profitable sum as time passes as new players put their money in and then leave to go to another machine.
Slot machines today are known to have payout percentages of 80 – 98% and are pre-programmed with Microgaming for his or her payout rates. Casinos can change the payout rate of the machines; however most choose to not due to the complex task and large expense of getting a chip replaced. Most slot machines with wagering amounts of a dollar 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%.
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 build a slow but steady income stream from slot machines. An error that many slot players make is continuing to place large sums of money in to a slot with the hope of a sizable jackpot. If a new player is using low risk betting strategies and understands RNG, the chances of building an amazing and consistent income stream is much more possible than the one-off large jackpot.
So 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 the next machine to begin it throughout again. Wise money management is an essential element in winning at the slots. If you enjoyed this short article and would really like more comprehensive information regarding slot machine technology please feel free to make contact with me through email.