Slot Machines: How to Play Smart and Win

As a former slot host, I've heard this line a thousand times: "Receiving a winning spin on the slots is a totally random event." It makes it sound almost fair, doesn't it? If you win, it was your good luck. If you lose, it was the casino's good luck. It's as simple as that - totally random - you can't blame the casino if you're the unluckiest sod that ever walked through the front door. Don't you believe it! Slot machines are the cash cows of the casino because the house has absolute control over when and how much a slot machine (or a bank of machines) will pay out over a period of time. The point of this article is not to explain the art and technology of how this is done. The point is that casinos are working hard to maximize their profits and making it harder than ever for the slot player to go home with money in their pocket. It's an absolute fact that scant few people win a lot of money on slot machines. A small few will win a fairly large sum and a few more will break even. The vast majority, however, will lose all or most of their gambling stake. If you don't want to be among that majority, you'll need to play smart. That means employing the simple strategy of slot gamblers who consistently win - play the right machine, manage your bankroll, and know when it's time to walk away.

PLAY THE RIGHT MACHINE

Winning slot players avoid the machines with the potential for a huge jackpot payout, like the in-house and wide-area network progressives. These machines generally will NOT give frequent low-payouts (returning all or a portion your bet) so that you can keep playing while you wait for a sizeable win. Instead, they look for a small bank of 4-6 machines with a modest jackpot (under $5,000) and a wider variety of possible winning combinations with low to moderate payouts. These slots generally allow them to get more spins for the money, which means more opportunity to hit a good winning combination. Besides reading the pay table, they can often spot machines that have a good low-payout hit frequency just by observing which ones are getting the most attention from other slot players. The tight machines get fewer players and they don't play very long before they cash out and move on in search of greener pastures. In the current casino environment, they look for the "right machine" among the multi-line, multi-coin slot machines (like King's Quest, American Reels, Fairy's Fortune, etc).

MANAGE YOUR BANKROLL:

On the multi-line, multi-coin machines your odds of getting a winning spin are exactly the same at the minimum bet as they are for the maximum bet. The only difference is in the pay-off -- the more you risk, the more you'll win when you do hit a winning combination. However, there is often a difference in hit frequency between minimum and maximum bets. Extra coins wagered on these slots will buy increased hit frequency, too. Theoretically, the more coins wagered per line, the more often you receive paybacks on your spins. But beware. Those paybacks may or may not return your original wager and in the long run, you may still lose at a more rapid pace. Betting maximum credits is no guarantee of maximum returns. Winning slot players always bet maximum pay-lines and bet multiple coins only up to an amount that will allow 10 or 11 spins without exhausting their budget for a single machine.

These savvy slot players set a money limit for each machine. They know it's the best way to preserve gains and limit losses. The majority of slot players lose their entire bankroll because of two common mistakes. They stay too long on a machine that gave them a few small wins and they end up giving all those wins right back. Or, they stay too long with a losing machine, afraid that they'll walk away just before it starts paying off. In order to avoid those mistakes, set a per-machine budget. On penny slots, for example, wagering 100 coins per spin, set a machine budget of $10. This will buy you 10 spins - more if you get a few small paybacks. If you lose the $10, go find a more promising machine. If you win $10 or more on a bonus round, either cash out and take your winnings or set another $10 limit and play a bit longer. Never put your winnings back into that machine.

KNOW WHEN TO WALK AWAY

The winning slot players stick to the per-machine budget strategy outlined above and know when it's time to walk away. It takes discipline to leave a slot machine that's given a few nice wins, but you'll fare better in the long run if you can learn to walk away a winner - albeit a small winner. In addition, set a firm budget for your entire gaming session. If you lose it all, call it a night. Likewise, set a sensible winning limit, for example, doubling your money. Don't get greedy. Remember that the casino is counting on you to overstay your run of luck and put your winnings (and more) back into the machines. Cash out a winner and go home with a smile knowing that when you return to play next time you'll be playing with the casino's money.

Be smart. Play the right slot machines. Manage your bankroll. And, know when it's time to walk away. It's a proven strategy for winning more and losing less.