

Only play slots on high-payback machines

6:33 PM, May 13, 2013  |  Comments
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QUESTION: My luck with slots has gone kaput. I am to a point where I feel slots don't pay at all. What is an old-time slots player to do? - Ted Y.

ANSWER: I can tell you, Ted, with 100% certainty that all slot machines dependably pay. They pay the casino's mortgage, those neon light bills and all the employees' salaries. They also pay millions in profits to the casino owners and stockholders. Unfortunately, being an old-time slot player, you just happen to be at the bottom end of that food chain.

I feel your pain. Nowadays, you insert a coin, pull the handle and then reach into your wallet for more money. You should come to expect that result when the house has such an enormous built-in edge on slots compared with other games.

The only slots you should be playing are at casinos that advertise machines that have a 98%-plus payback. It's tough to find these high-payback machines. The payback percentage probably won't be posted on the machine itself, and the high-payback models can be limited to a single bank of machines within the casino. To find them, you need to ask a slot employee or a supervisor.

I don't play slots because it goes against my creed: "Only make bets that have less than a 2% house edge." I do know that in gaming jurisdictions, locals typically don't play dog machines and instead opt for machines with the most cluck for the buck. When searching for high-payback machines, ask a few employees where the locals find the best slot value.

My other recommendation is this: How about playing video poker instead? Even poor play on a video poker machine will have a better payback than most slot machines.

Q: Where I play on the weekends, they bump up the minimum table limits at blackjack to $10 and sometimes even $25. The table maximum on some of these same games is $500. I know that I am not getting the better of it with these high-table minimums, but is restricting my play to a $500 maximum wager to my advantage or the casino's? - Chuck D.

A: All the advantages of high table minimums and a low table maximum go to the casino. Here's why: Casinos win for two reasons. They have a statistical edge on every game, and they have a bigger bankroll than you do.

The latter involves a simple concept called gambler's ruin. Essentially, it's how long it will take you - with your limited finances - to lose everything to a casino, which has an infinite wad of cash. Even a short-term winning streak against the house is no match against a casino with an infinite stake. The casino can, and will, outlast you.

Another problem with playing the high minimums and low maximums is that it eliminates low-stakes betting. In addition, the ability to parlay your winnings by increasing your bets is removed because of the low maximums. When you play under these conditions and you happen to be a low roller, you can be tapped out in mere minutes.

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