Losing odds

The glitzy atmosphere of the casino or the sound of coins being paid out in the slot parlour can often give the impression that a player is fairly likely to win on a slot machine, but you must constantly bear in mind that the odds are stacked against such a victory – whether you play online or in the real-world.

Payout signs may claim to have a 85% payout rate but don’t be foolish enough to be sucked in by the terminology. It is referring not to return on investment but return of investment. And of course, they are not necessarily referring to your investment.

They are in effect, simply saying that the casino is retaining a smaller percentage of what you pay when playing a machine with 88% payouts than where the stated payout is only 84% or where no payout claim is made. In brief, the casino is saying that “you may lose less at this spot than in another area of the casino” without fear of contradiction. These cryptic yet technically true statements are not meant to be understood for their real meaning.

Remember that in the vast majority of slots plays, the only true winner is the casino. Casino owners and marketers know that the smart money is always bet on greed, irrationality and general human fallibility. The only difference for them is that they are betting on a sure thing.

The only way to turn the tables is to apply common sense and discipline in equally strict measures. It is possible to leave the casino with both your bankroll and your winnings. It’s not always easy, and if you expect to do it every time then you are headed for a fall, but it can be done.