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The Truth about Playing Slots

Playing real money slots, either in a casino or online, provides entertainment and enjoyment for many. It also offers the instant thrill and adrenaline rush from winning, and the chance of getting your hands on a life-changing sum of money.

What a Slots Win Rate Really Means

Mobile Gambling

All casinos incorporate a house edge into their games. This can go under different names too, such as a win rate or return to player (RTP) percentage. If you see us quoting a 97% win rate for example, you will instantly know that, for every dollar bet, you can expect to win back 97 cents. The remaining three cents go to the casino and are key to their long-term profitability and survival. Without this edge, they simply couldn’t guarantee being able to pay their employees, while software providers would be unable to invest in new technology and create new games.

Simulating the Effect a Win Rate has

Much of the fun when playing slots comes from anticipating whether the next spin will win or lose you money. This unpredictability is called the variance. It creates a real possibility of short-term profit for the player, whilst still virtually guaranteeing long-term profit for the casino. While these outcomes may appear contradictory at first, we have run simulations to help demonstrate how both can be possible.

On each individual simulation, the player starts with $1. There is the possibility of doubling the money to $2, losing it all, or somewhere in between. A random number generator is used to decide each individual outcome, as would happen when playing a slot machine.

Chart 1

The orange, light blue and dark blue lines illustrate what could happen if this scenario was played through repeatedly, without applying a house edge. The red, yellow and green lines show the impact of adding a house edge, so that the win rate is reduced to 97%.

What we see from the first chart, where the simulation is run through 100 times, is that the yellow and green lines both end in positive territory, despite having a 97% win rate. This indicates it is very possible for a player to end up in profit in the short-term.

Chart 2

In our second chart, the situation is extended until it has been repeated 1,000 times.

There is still no real discernible difference between the simulations where a house edge is and isn’t applied though. This further demonstrates how it is perfectly possible to play a variety of casino games for relatively long periods of time, whilst keeping your bankroll largely intact.

Chart 3

Finally, we have run through the same situation with 10,000 repetitions. By this stage, it is immediately clear which scenarios have the win rate set to 97% (the red, yellow and green lines), and which have had no house edge applied.

It may be that you’re wondering what the above charts really mean for you. For example, is there an optimal amount of time to play slots? The truth is there’s no hard and fast answer to such questions, particularly given these charts don’t replicate a specific slot machine’s expected payout. However, they still provide a clear demonstration that the longer you play any real money online slots, the more likely you are to eventually lose money.

The Myths of Playing Online Slots

If you feel in control when playing slots online, both mentally and financially, you shouldn’t be concerned. There are some fallacies associated with slots machines that can give the wrong impression though. We’ll look at a few of these ideas in turn, and explain whether there is any truth in them.

Keeping your Online Slots hobby under control

Places like Las Vegas and Monte Carlo can provide wonderful, once-in-a-lifetime experiences. Indeed, many players all over the world are able to feel the same excitement and adrenaline rush when playing live casinos online, in the comfort of their own homes.

There are times when it can feel as though a fun hobby is getting out of hand. Here, we’ll provide a few suggestions and ideas to help you proactively ensure you’re playing for the right reasons.

  • Make plans for after you play, to stop yourself exceeding time limits

    Giving yourself a definitive end point can make a huge contribution to keeping your slots playing activities as the fun it was always meant to be. Plans for afterwards can be anything, from arranging a phone call or meal with friends, to going to the movies.
  • Set deposit limits and have a definite fund you won’t exceed

    Putting aside a set fund, and not exceeding it, can play a part in ensuring you have time for all the other activities you also enjoy.
  • Don’t set financial targets to reach

    Setting targets can result in the increasing urge for ‘one more spin’. Remember, there is no harm in dreaming of a big win, but the reality is very different.
  • Understand why you’re playing

    Try to figure out what it is about playing slots that makes you keep returning for more. If you simply find it entertaining, consider whether free play may be a better option. If it is the lure of changing your life, understand the reality of that actually happening is minimal.
  • Play when you want to

    Make sure that you’re only playing when you really want to. For example, if you find yourself opening your favorite casino’s app on your smartphone because you’re bored and couldn’t fight the urge, simply remove the app from your phone’s homepage.
  • Use the reality check and time-out tools available at online casino sites

    Regulations have been tightened significantly in recent years, so use this to your benefit. Online casinos in certain countries are now obliged to tell you when you’ve been playing for a certain period. They also give you the option to limit your deposits, take brief time-outs and even self-exclude for longer periods. Take advantage of these options if you believe any would help you.

The Experience of a Slots Player

A big win is the dream for many slots players, and there’s little wrong with imagining what you’d do with a life-changing jackpot. However the reality can be very different. Jodie Nealley experienced the thrill of winning on slots, but unfortunately it didn’t end well.

Having recovered from her darkest hour, and now working as the Intervention and Recovery Support Coordinator at the Massachusetts Council on Compulsive Gambling, she tells us her story and offers her own reality check.

Q&A with Jodie Nealley

Slots Reality Check Learnings and Conclusions

Hopefully, by this stage, you’ve developed a good grasp of the truth surrounding real money slots. Here are some of the main learnings you can take forward to enhance your enjoyment of the game.

  • There is nothing wrong with playing slots, as long as you enjoy doing so and remain firmly in control of your financial and emotional states.
  • The house edge that applies to all online slots games means you will invariably lose money in the long-term, even when it’s feasible to end an individual session in profit.
  • There is always the small possibility of winning a big jackpot, and employing strategies can be fun too. Turning over a regular, steady profit isn’t possible though.