In the 9/2003 issue of “FMH”, the owner of the Palms casino, George Maloof Jr., says
What’s he talking about? How would you use perfect strategy on a slot machine to make $50-80/hr?
If this is an accurate quote by FHM, then I suppose it could mean that if there was someone who played a lot of slots and who memorised the order of symbols, and there was a feature on the machine that allowed the player to advance a reel, then that person could win money.
But since all slot machines are manufactured to keep around 10-20% of the money put in them, I am sure there is a mistake somewhere.
Sounds like bull to me. First of all, what sort of strategy is there in slots? Pulling the lever seems pretty simple.
In any case, Casinos are set up to make money, not give it away. He’s probably just talking to reel in a few more fish.
elfoldo
You have a cite for that? Also, it seems such a quote would constitute fraud.
The slots that they are talking about are probably video poker machines. These are considered slot machines, and depending on the odds posted on them, it is sometimes possible to make money on them if playing a perfect strategy.
It’s the September issue of “FHM” magazine, page 136. I don’t have an online link. The full question/answer was:
There are two ways to beat machines. The first is to find video poker machines with a 6-9 payout, and play them with perfect strategy. These games are rare, and always low-limit machines. When you find them, you might eak out slightly better than minimum wage, although with some big swings in bankroll.
The other way you can beat slot machines is to find ‘progressive’ slots and only play them when the progressive payout is high enough that playing is profitable. The odds of winning are still random, and there is no way to predict when these machines will hit a jackpot. But you can work the odds. For instance, if a jackpot combination is programmed to come up 1 time in 100,000 pulls, and the progressive jackpot is 50,000, then each pull has an expectation of 50 cents on the progressive jackpot alone. If the other, small payouts typically pay 65 cents, and it costs $1/pull to play the machine, then you have a positive expectation of 15 cents per pull. If you could pull the handle 400 times per hour, then theoretically you can make $60/hr.
In reality, I don’t know of any slot machines were the progressive grows to that kind of value, largely because there ARE professional slot players around, and they scout the casinos looking for these opportunities. There are even ‘slot teams’ that will move in and take over every machine in the progressive bank, thereby ensuring that one of them will eventually hit the jackpot.
The problem with this strategy is that typically it’s low profit, and the variance is HUGE. After all, just because a jackpot comes up on average once ever 100,000 hands doesn’t mean it will. You could have to wait for 200,000. In the meantime, those other payouts are only paying you back 65 cents on each dollar. So be prepared to lose a ton of money before you hit that jackpot.
Because of this, the best machines are the ones that have low-odds jackpots. Rather than going for the 50 million dollar super jackpot that only pays out once every 100 million pulls, you’re better off looking for a $5,000 progressive that pays out every 10,000 pulls.
Also, the other problem with this is that the actual odds of hitting the paying combinations is not necessarily known.
I think it’s safe to say that $60/80 per hour slot machines are more than a little bit of an exaggeration. The true amounts that can be won are probably about 1/10 that amount.
Just because something is quoted online does not make it true, people. Most of the internet is shit.
I think the casino owner was scamming the public,
[quote]
here, editor/reporter, have a grand in chips…[/quote
REMEMBER, Vegas, Bingos, and bookies wouldn’t be there if they weren’t making money off of it.
Just because something is quoted online does not make it true, people. Most of the internet is shit.
I think the casino owner was scamming the public,
REMEMBER, Vegas, Bingos, and bookies wouldn’t be there if they weren’t making money off of it.
Just because something is quoted online does not make it true, people. Most of the internet is shit.
I think the casino owner was scamming the public,
REMEMBER, Vegas, Bingos, and bookies wouldn’t be there if they weren’t making money off of it.
thans for the clarificatiions. 
Simple. Buy said machine, install it on your premises and offer free drinks to people who come and play it. Then add a zero to the above figures, I imagine.
thanks for the clarifications.
(only 2 posts, I promise)