Slot Machines
Around the turn of the century, Charlie Fey built the first mechanical slot in his San Francisco basement. Slot-machine technology has exploded in the past 20 years, and now there are hundreds of different models, which accept everything from pennies to specially minted $500 tokens. The major advance in the game, however, is the progressive jackpot. Banks of slots within a particular casino are connected by computer, and the jackpottotal is displayed on a digital meter above the machines. Generally, the total increases by 5% of the wager. If you're playing a dollar machine, each time you pull the handle (or press the spin button), a nickel is added to the jackpot.
How to Play:
To play, insert your penny, nickel, quarter, silver dollar, or dollar token into the slot at the far right edge of the machine. Pull the handle or press the spin button, then wait for the reels to spin and stop one by one, and for the machine to determine whether you're a winner (occasionally) or a loser (the rest of the time). It's pretty simple - but because there are so many different types of machines nowadays, be sure you know exactly how the one you're playing operates.
Slot-Machine Strategy:
The house advantage on slots varies widely from machine to machine, between 3% and 25%. Casinos that advertise a 97% payback are telling you that at least one of their slot machines has a house advantage of 3%. Which one? There's really no way of knowing. Generally, $1 machines pay back at a higher percentage than quarter or nickel machines. On the other hand, machines with smaller jackpots pay back more money more frequently, meaning that you'll be playing with more of your winnings.
One of the all-time great myths about slot machines is that they're "due" for a jackpot. Slots, like roulette, craps, keno, and Big Six, are subject to the Law of Independent Trials, which means the odds are permanently and unalterably fixed. If the odds of lining up three sevens on a 25¢ slot machine have been set by the casino at 1 in 10,000, then those odds remain 1 in 10,000 whether the three 7s have been hit three times in a row or not hit for 90,000 plays. Don't waste a lot of time playing a machine that you suspect is "ready," and don'tthink if someone hits a jackpot on a particular machine only minutes after you've finished playing on it that it was "yours."