Just like a slot machine’s payout rate is calculated over the course of its lifetime, so is the amount returned to gamblers. A slot’s 85% payout means I’ll get back $85 of every $100 I spend. Because each machine has a random number generator, over the millions of spins made during the machine’s lifespan, the Law of Probability means many players will win, but many more will lose. slots pay out 92% of all money wagered, but that’s based on the life of a machine, NOT a single playing session. Truth is, a slot machine is just as likely to have back-to-back wins and big payouts as it is to have a losing streak.
Some slots are ‘hot’ and ‘due’ for a big jackpot. When BCLC recently looked at gambling myths and misconceptions in the province, five topped the list for many British Columbians: Truth is, both are examples of commonly held myths around gambling. We’ve all heard the chatter – a slot machine is due for a big payout, or maybe that the longer you play, the better your chances of winning.
