Regulations
Slot machines that are located inside of casinos are directly regulated in the state of Nevada. These slot machines are required to pay out a certain percentage of money that is taken in. Any casino that is found bending the rules of these regulations can face stiff fines, and eventually even have their gaming license suspended (or worse).
Las Vegas stores are not required to follow the strict regulations when it comes out to the payout percentage that the Las Vegas casinos have to follow. Instead, they are essentially able to have any payout percentage that they want.
Explanation of Payout Percentage
The higher a slot machine's payout percentage, the more you have a chance of winning from that machine. If a slot machine has a payout percentage of 91% (the required amount for Las Vegas casinos), that means that the slot machine will pay out $0.91 for every $1 that is taken in.
Remember, Las Vegas casino slot machines are not required to have this as their constant payout percentage. A machine must have this percentage throughout the life of the machine. So the percentage might be higher or lower at different parts of the lifespan of the machine. It just needs to hold this average throughout the lifespan.
Las Vegas Stores and Slot Machine Payout Percentages
Since Las Vegas stores do not have to follow the same regulations as the casinos, a store might have a machine that pays out as low as 40% of the overall take. From my personal experience, I have spoken to Las Vegas store owners that have stated that the few slot machines in their stores make up for a large percentage of their overall business.
Psychology of Las Vegas Store Slot Machines
Las Vegas stores know that there might be a chance that someone in your group will not be interested in being in that store at that time. This person might wander over to a slot machine in the store to pass the time hoping that they might make a hit while your party is wasting precious gambling time.
There are also often cases in which a person sees something that he or she might want, but does not have enough money to purchase it. Maybe, by putting five dollars in the Las Vegas store's slot machine, the amount of money needed could be won so that the item could be bought.
Keep these issues in mind the next time that you see slot machines in Las Vegas stores. Chances are good that those machines are there to take advantage of you. Unlike the regulated slot machines inside of casinos, these slot machines can take more advantage of you than you might think.
Published by L. Vincent Poupard - Featured Contributor in Travel
L. Vincent Poupard is known for his insightful news commentaries and unique takes on the entertainment industry. Along with his career in writing, he works as a political/business consultant and has helped b... View profile
- Simple Ways to Increase Your Chances at Winning on Slot Machines Is it possible to win money at playing the slot machines at a casino or on an internet casino? Well, the answer is yes, it is possible. Read on...
-
Slot Machines and Random Number Generators
Lately, I've noticed a lot of strategy articles about how to win (or at least break even) playing slot machines. The truth is, there's no strategy to playing slots.
- A History of Slot Machines Slot machines are informally known as One Armed Bandits to many people. I do not know who originally coined the phrase but it is appropriate since these slot machines can and do rob a person penniless.
- Buying a Used Slot Machine? Tips to Consider Before Answering that For Sale Ad Why go to the casino, when you can own the casino?
- How to Avoid Becoming a Slot Machine Junkie Discusses ideas on ways people can keep their slot machine gambling under control.
- Top Ten Worst Slot Machines to Play in Las Vegas
- Why the Slot Machines Near Las Vegas Hotel Pools Are Among the Worst to Play
- MGM Grand in Las Vegas
- Great Western Road Trip: Free Fun in Las Vegas
- Things to Do and See at the Stratosphere Hotel and Casino in Las Vegas
- Find the Perfect Gift in One of These Five Great Souvenir Shops in Las Vegas
- Gambling in Miami: It's Official, Slot Machines Are Coming
|
|