Slot Machines and Bankroll

The dreaded House Advantage, or House Edge – it’s what keeps the house (casino) alive. These days, entertainment, luxurious restaurants and non-gambling amenities also help they flow of money from your pocket to the house’s pocket. At the end of the day, it’s your bankroll, or what’s left of it, that often is the scale of success. How much money do you need to help beat the house on slot machines? Let’s take a closer look at Slot Machines and Bankroll.

 Related Post – “What Is Expected Value or “EV?”

Any Bet Is A Single Event in Time

It’s important to realize that any bet is a single event. Previous or future events do not depend on that event. There are very few exceptions to this. If anything, this is one of the greatest guidelines to understand about casino gambling.

Human beings are wired to look for patterns to predict the future. Casinos understand that all too well. The big sign at the roulette table telling you the history of the past 10 or so numbers and colors is proof of that. This sign is meaningless. Remember, any bet is a single event.

Slots dominate the vast first floor casino at Twin River Hotel Casino in Lincoln, Rhode Island

What Should My Bankroll Be?Slot Machines and Bankroll

In the long-term, the casino wins. However, anything can happen in the short-term play. So, without the correct bankroll, a short-play usually means a short stay. Short stay also usually means fewer comps.

Related Posts: Comps and Your Daily Theoretical

Brace yourself for the following suggestion.

  • If you want to spend about 3 hours playing slots, your bankroll should be 200X or 300X the size of your average bet.
  • Most recreational players bring 10X. This means, if you’re playing $1 slots with a 3-coin max bet, you’re betting $3 per spin. You should have between $600 and $900 to play with for that session. With a $30 bankroll, you won’t be playing long at all. 
  • Playing slots with an average wager between $.88 and $1.20?…….$200 to $300 hundred is a good start. 
  • Bankroll differs with your denomination of the machine. Penny or nickel slots should stick with the 200X to 300X your bet for your bankroll.
  • If you play quarter slots or dollar slots, you might only need 150X to 200X the size of your average bet.
  • And for the serious slot player, five-dollar slots or higher 50X to 100X the size of your average bet will work.

Slot Machines and Progressive Jackpots

We all want to find that magic slot machine. You know, the kind that wins and wins. Slot players usually push the button to win and have fun doing it. Easier said than done on both.

The fact is, you need to know the slot machine you’re playing. The simpler the game, the better the odds – at that denomination. The more bells and wishes, the higher the house edge.

Progressive jackpots on slot machines usually lower the payout percentage. But there is one truth that every slot player knows – progressive jackpots are very elusive and payout less, depending on the type of progressive jackpot. This doesn’t mean that casino slot players need to avoid progressive jackpots. There’s no harm in playing the game if your expectations are realistic.

Three Kinds of Progressive Slot Machine Jackpots

Progressive jackpots have three types – Stand Alone Progressive, In-House or Proprietary Progressive, and Wide Area Progressive.

Quick Hit Slot Machine with stand alone progressives listed.
  1. The Stand-Alone Progressive machine is a slot machine that is not linked or connected to other slot machines. Usually, these slot machines’ payback is equal to other slot machines of that type of denomination.
  2. The In-House or Proprietary Progressive machines are a group of machines that are linked together. These machines are owned and operated by the casino—usually lower payout percentage with higher jackpots.
  3. The Wide Area Progressive machines include life-changing progressive jackpots. These machines are linked to other casinos. However, the casino only gets a share from a percentage of the winnings. The progressive jackpot is so massive, and the chance of getting it is tiny. Enjoy the fun of playing these, but the time spent does not increase your chance of winning the big jackpot. Remember, any bet is a single event.
The old favorite wide-area progressive

A smart thing to do for slot players is to set aside a specific percentage of the slot bankroll for progressive jackpots. Never spend your whole slot bankroll in them. It will increase your road to ruin exponentially.

Other Tips

  • Usually, the higher the denomination, the better the odds.  But in some jurisdictions, such as New England, the difference between a penny and $1 could be a minuscule 1-2%. 
  • Casinos love celebrity or themed slots, and so do players. However, leasing these games are expensive and are usually short-lived. Celebrity slots are an example of this. So, who do you think pays part of the bill with a lower payout percentage, huh?
  • Always use your player’s card.  Remember, earning rewards points helps diminish the high EV on slots. When not using your card is a benefit, they are based on your need for anonymity, not anything to do with the card’s influence on the machine.

Final Word On Slot Machines and Bankroll

Keep in mind this is to play for approximately 3 hours. But the most important rule for any gambler is Only gamble with money you can afford to lose.

That’s all for now.

Binbin


Binbin and NETimeGambling.com

Robin T. Aubin (AKA Binbin at NETimeGambling) has been a guest on Cousin Vito’s Casino Podcast, The Bettor Life Podcast, The Art in the Game Podcast featuring all that is Springfield, Massachusetts. as well as ZorkCast with Michael Trager. As the founder of NETimeGambling.com, he has tried to provide a resource for recreational gamblers featuring New England’s expanding casino market events, gambling promotions, and entertainment. As a professional musician for over 50 years, he has performed in some of New England’s best venues, namely Mohegan Sun’s Wolf Den, Foxwoods’ Atrium Lounge, and Twin River’s Lighthouse Bar & Lounge.

The goal of NETimeGambling is to provide a service and resource for any recreational gambler visiting New England’s expanding casino market and interested in gambling tips, news, advice, and the latest in events, gambling promotions, and entertainment.

Follow us on Twitter at @NETimeGambling, and on Facebook at NETimegambling. Join the New England Casinos Facebook Group and chat about experiences at our New England Casinos.