Payouts

Payout percentages on slot machines are set by the manufactures and casino owners may choose the machine whose software has desired percentage.

Payout Percentage

Slots manufacturers do program their machines to pay out according to certain ratios. At the time of purchase casinos may have to choose slot machine whose pay out percentages conform to the requirements of the regulating licensing authority and their own specifications. There are different pay out percentages for different jurisdictions and it is upon the casinos to ensure that they install machines that are compliant or else their businesses may be shut. A casino may choose to order similar slot machines with varying payout percentages for different reasons. It may order one slot machine with a payout percentage of 86.7% while another one may be 89.5%.

It is widely believed that casinos find it strategic to put slot machine games with higher pay back ratios in certain places and those with lower ratios inside the casino hall. This is basically for marketing to make those who their luck on such machines win more and decide to take more time inside with the hope of winning more prizes. Casinos in more competitive locations can not afford to fix machines lower pay back ratios than their competitors' since that would be an obvious disadvantage.

The general practice however is to set lower pay back ratios for low denomination machines and higher pay back ratios for high denomination machines. Even in the same machines one finds that low denomination pay lines have lower pay back percentages compared to high denomination pay lines.

Payback Variations

Payback variations follow different patterns. But one common determinant is competition. States where slots results are published are more competitive and offer higher pay back percentages. Online slot also face stiff competition and do offer generally higher pay back ratios than many land based casinos. It is argued that it is only in Las Vegas where the land based casinos offer higher ratios than the online versions due to stiff competition there.

States like Nevada, New Jersey, Mississippi, Colorado, Connecticut, Indiana and Iowa have higher pay back percentages than states like Michigan and Ontario which do not even publish slots results.

It is necessary to understand that when a slot machine is programmed to back at a rate of 90% it does not mean that it will pay back $90 on every $100 wagered. The machine works on some long term averages which means that within a specified duration say a month the machine shall have made a certain reasonable number of spins and in the process awarded the pay back through some distribution patter determined by the random number generator. But the higher the pay back ratio the more likely it is to win on that machine.

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