Common Misconceptions About Casino Slots
There are a number of misconceptions surrounding casino slot machines. No matter how many times these myths are dispelled, they continue to circulate, partly attributed to closed-minded individuals who don’t adhere to logic, but also attributed to those who would endeavor to profit from the gullibility of others.
We’ll start by defining the Random Number Generator, or RNG, that are the core of all slot machines, both in land-based and online casinos. We will then discuss the preset payout percentage and how it affects payouts in the short and long term. Understanding how RNGs and payout percentages work is enough to dispel just about any myth you may come across concerning slot machines.
Random Number Generator (RNG)
The RNG is a computer program that randomly generates a number between 1 and as high as the billions each time a single reel is spun. The resulting number will determine what symbol each reel stops on. Because of its ingenious design, there is literally no way to predict any arbitrary outcome of any spin over any period of time. It’s like flipping a coin. The chance of heads or tails is always 50/50. You can flip a coin 10 times and it lands on heads every time, but that does not increase the chance that the 11th toss will result in tails; it is still 50/50 with each new flip.
Payout Percentages
Every slot machine has a predetermined payout percentage programmed into the software. This does not guarantee that a machine will or will not payout that amount in the short term, but over the long term, it will payout that exact percentage. The designer of the slot will set the payout percentage and the length of time in which it will payout, such as 25 years. If the payout percentage is 95% over 25 years, then for every $100 that machine takes in over the next 25 years, it will pay out $95. This includes jackpot winnings.
Effect of RNG & Payout% Combined
Because of the RNG factor, the payouts are completely random. A machine could hit 3 jackpots in the same week, or no jackpots in 5-10 years. It is utterly random, absolutely unpredictable and cannot be systematically beat by any player in any fashion.
Casino Slots Fallacies
Below is a list of common fallacies revolving around slots machines. If you hear them, or if someone tries to sell you a system that will beat the slots, do not buy into it.
Myth #1: Slot machines that have not paid out in a while are due to win. Wrong! (See above, Effect of RNG & Payout% Combined)
Myth #2: Payout percentages will affect my winnings. Wrong! You would have to play a slot machine non-stop for many years in order for this to be true.
Myth #3: Slots have hot and cold streaks. Wrong! Though it may seem like this happens, a slot that wins a few times in a short period of time, or a machine that hasn’t won in a while, has no more chance of winning or losing in the near future.
Myth #4: Casino slots are rigged to lose. Casinos do not change the RNG or payout percentage of a slot machine once they are installed. They have no control over when a jackpot will hit. However, the payout percentage is set so that in the long term, the casino will profit, so there is a little merit to this belief.
LOL, another casino post promising thrills that end in disappointment! Fed up with it!