Ever since the 1980s, casinos have discovered that they make more profits off their slot machines than they do from their table games. This is just as true of online casinos as it is of land-based gambling halls. In Las Vegas, where free drinks and loyalty rewards have long been used as inducements for slot play, the latest promotional craze is bragging about payback rates. Where are the biggest jackpots being hit? Who can offer the best slot machine odds?
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Well, I'm a local. I always frequent the casinos off the strip, and I've won $10,000 (on a penny slot). $2800 (on another penny slot). And $5600 (again, a penny slot). Slots located along Boulder Highway paid out exactly the same year on year; they include the machines of such popular casinos as Sam's Town, Arizona Charlie's, and Boulder Station, to name a few. Odds by Slot Type. The Gaming Control Board statistics also indicate which slots pay out the best. Winning At Slots - What Are My Odds? First of all you should know that slot machines, as with many casino games, are a type of game for which there is no 'winning strategy' - technically speaking they. They also frequently host slot machine tournaments. A lot of people think of the Bellagio as the best place on the Las Vegas Strip to play poker, and they are right about this, of course. But Bellagio is also one of the best spots on the Vegas Strip to find slot machine tournaments and a wide variety of slots games to choose from.
Slots are the most diverse type of game in Las Vegas, meaning they can offer a wide variety of odds to players. Some are more rewarding than others, as their house edge starts at 3% and goes up to 20%. Needless to say, when choosing the best possible slot, it's best that you go for ones that have a lower house edge.
If you listen to Las Vegas locals, they say never play the slots at casinos that line Las Vegas Boulevard. 'Strictly for tourists,' they will tell you. Then, they'll point downtown where many of the city's oldest casinos are grouped within easy walking distance from one another and add, 'The best payouts are along Fremont Street.'
But what do the actual numbers say? Is Vegas street wisdom to be believed? And what to make of claims made by casinos themselves? Who really has the loosest slots in town?
Downtown vs. the Strip
Overall, slots generate nearly 60% of Nevada's annual gaming revenues and almost twice as much as table games. The Nevada Gaming Control Board breaks down its Las Vegas slot statistics in two major tourist areas: downtown and the Strip. Additionally, there is a large locals market, which reports of gaming revenue classify as the Boulder Strip and North Las Vegas areas.
In the full fiscal year between July 1, 2011 and June 30, 2012, the payback percentages for all slots in Clark County were 93.51%. By area, the downtown paid back 93.47% and the Strip returned 92.62%, so there is a certain ring of truth to the locals' claim. However, what goes unsaid is that North Las Vegas slots returned 93.91% and the Boulder Strip slots paid back 94.76%, so the best advice is to avoid the tourist areas and play where the locals play.
Compared to fiscal 2011, all of the areas except the Boulder Strip showed a slight reduction in paybacks in 2012. Slots located along Boulder Highway paid out exactly the same year on year; they include the machines of such popular casinos as Sam's Town, Arizona Charlie's, and Boulder Station, to name a few.
Odds by Slot Type
The Gaming Control Board statistics also indicate which slots pay out the best in order of the denomination of credit played. In fiscal 2012, Megabucks progressive slots showed the worst payback percentage overall, just 87.16%. However, the appeal of a massive jackpot obviously outweighs the poor odds during hard economic times, as Megabucks revenues rose 59% versus fiscal 2011—the biggest gain among all types of slots.
At the other end of the spectrum, the very best payback percentages came from high roller slots. Those accepting denominations of $5, $25 and $100 returned 94.67%, 96.52% and 96.30%, respectively—proving once again that it takes money to make money.
For those whose champagne tastes come with beer budgets, the most fruitful games are on the nickel and quarter slots, which also include video poker machines of those denominations. Fully 94.48% of all 25¢ wagers were returned in fiscal 2012. Coming in right behind were nickel slots, paying back 94.40%.
Many slot players enjoy multi-denomination slots, which were a reasonably good bet in 2012 with a 94.65% payback rate. Meanwhile, dollar machines were not bad performers, yielding a 94.42% return of the cash invested. Much less favorable to players were penny machines, returning just 89.33%—the worst bet other than Megabucks.
What About Other Games
If slots aren't your cup of tea, and you much prefer real money blackjack, then visit our dedicated page to online blackjack. United States Blackjack typically affords better odds than the slots, especially if players are willing to learn card counting. Bet your real money wisely with the tips you garner from reading legitimatecasino.com.
Who's Really #1?
For those looking for a specific casino to frequent or a certain machine offering the very best slot odds, it is hard to separate the hoopla from the reality. The Gaming Control Board statistics do not reveal the results casino by casino or machine by machine. And the claims made by the casinos themselves have to be taken with a grain of salt.
For example, in 2010 the Palms Casino Resort launched a massive advertising campaign based upon the results of an 'independent survey by the Las Vegas Advisor (that) indicates Palms' slots and video poker returns are better than the average payback percentages in Nevada.' Their claim was that Palms' slots were '28.278 percent looser than Clark County and 36.856 percent looser than the Strip.'
Not to be outdone, in 2011 the downtown's El Cortez Casino shot back with advertising claiming that their slots were '39% looser than the Strip,' implying looser than the Palms' slots by inference. Most lists of 'hot slots' in Las Vegas mention the two properties as #1 and #2, but with three Megabucks jackpots awarded since 2004, perhaps the Palms deserves a slight edge. The El Cortez has paid no Megabucks winners to date.
Las Vegas Casino Odds — What to Play and What to Avoid?
If you want to go to the Entertainment Capital of the World, you should definitely check the best and the worst Las Vegas casino odds first. The thing about odds is that they are not actually connected to casinos, but rather individual games.
In other words, you won't find the best odds in Vegas by playing in a specific casino, but by playing specific games. However, before we proceed to talk about those games, let's dwell on the notion of 'odds' for a bit.
How Are Odds Determined?
Odds are a term that we usually use in sports betting. In the casino industry, we talk about the 'house edge.' Therefore, speaking of Las Vegas casino odds means exploring which games have the lowest house edge in general.
But what exactly is the house edge? Simply put, it's the amount of money that casino earns from players playing a game. Games with the best odds in Vegas usually have the lowest house edge.
For example, if the house edge of a casino game is set to 5%, the casino should win overall $5 for every $100 that players bet in it. The remaining $95 return to players via prizes in those games. Therefore, it's only logical that we seek those games that have the smallest house edge.
Without further ado, let's take a look at the games that offer the best odds in Vegas.
Blackjack — 1% House Edge
Blackjack is probably the only game that has the lowest house edge of all, according to the majority of experienced casino players. Although it is essentially a game of chance, many players are able to insert the element of skill in it. How so?
If you play blackjack with just basic knowledge, the house edge can be quite high. However, this card game is so popular that blackjack professionals came up with a unique strategy that helps players alway play the best possible hand. That way, the house edge is lowered to as little as 1%.
In other words, if you manage to stick to the strategy, you will be able to get some of the best Las Vegas casino odds in this game.
One cannot speak of blackjack without mentioning the infamous card counting. This technique could lower the house edge even more. However, it's something that is not really allowed in casinos. Although it is technically legal to count cards, casinos reserve the right to ask you to leave if they think you're applying this strategy to blackjack.
Craps – 1.4% House Edge
Although much more complicated than blackjack, craps is very similar to it when it comes to the house edge. Since there are so many bets in this game, you need to be very specific if you want to make craps have one of the best odds in Vegas. Just like blackjack, you need to adhere to a specific play strategy so as to get the most out of this game.
European Roulette – 2.8% House Edge
Roulette is definitely one of the most popular games in casinos all over the world. There's something special about that wheel that makes many players fall in love with this game. Las Vegas casino odds for roulette may differ depending on the type you choose to play.
At the moment, the two most popular variants of roulette are European and American. The only major difference between the two is that American roulette has two zero fields on the wheel, whereas the European variation has only one.
It turns out that zeros make all the difference in roulette. Once you start making 50/50 bets such as red/black, 1-18/19-36, odd/even and more, you will realize that the chances of winning are not 50%. Simply put, if the ball lands on 0, you lose either way. But when there are two zeroes, the possibility to lose even bets is even higher. The zero field is the house edge.
If you follow roulette betting strategies and manage your bankroll properly, you will be able to achieve a house edge of 2.8% in European roulette. The lowest possible edge in American variants is 5.2%.
Las Vegas Slot Machine Odds
Therefore, players who want to go for the best Las Vegas casino odds shouldn't take European roulette out of the equation.
Let's take a look at the games with the worst odds.
What Las Vegas Casino Odds Are the Worst?
Odds At Slot Machines
Blackjack, roulette, and craps have the best odds in Las Vegas. This list should also include games such as baccarat and Pai Gow poker, as they can also be very rewarding if your luck is backed by sufficient skill.
However, some games don't have a house edge that is as low as in blackjack.
Slot Machines
Slots are the most diverse type of game in Las Vegas, meaning they can offer a wide variety of odds to players. Some are more rewarding than others, as their house edge starts at 3% and goes up to 20%. Needless to say, when choosing the best possible slot, it's best that you go for ones that have a lower house edge.
Keno
Keno is a super-entertaining game, but it definitely doesn't have the best odds in Vegas. On the contrary, many consider keno to be the worst in terms of the house edge, as it varies from 20% to 40%. Therefore, unless you really like keno, you should be careful when playing this casino game.
Conclusion: Fun Comes First
Las Vegas casino odds are not as important as entertainment. After all, if you're not lucky, the odds cannot help you that much, even if you apply the best possible strategy.
Most of the games in Sin City are games of chance. That fact alone plays a huge role in the industry and brings casinos in Vegas millions of dollars in annual revenue. Unless you cheat, it's impossible to gain the edge over casinos. Therefore, it's important that you have fun, test your luck, and know when to stop. Once these three are taken into account, you are ready for your Vegas journey!
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06 Feb 2020 | Adam Shaw | 1 Comments
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