Myth Of Gold Slot Machine Biggest Payout

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First of all, not all slot machines pay out at the same rate. Slots can have a payout rate as low as 85% or as high as 98%. You always have a chance of winning regardless of the payout rate,but the higher the rate the higher your overall return is likely to be in the long run. Book of Myth is an online slot created by Spade Gaming. This classic ‘Book of’ slot has a 5x3 grid and 10 paylines. This classic ‘Book of’ slot has a 5x3 grid and 10 paylines. Features in this medium-high volatility game include wild/scatters, free spins with expanding symbols, and the Buy Feature.

No other segment of the gaming industry has benefited more from the technology revolution than the slot machine. Once considered the ugly stepdaughter placed on the gaming floor to appease the spouses of table players, the slot machine has been transformed into the fairy princess of the gaming world. With her, she has brought a dowry of riches no one would have imagined for the casino and a few lucky players as well. Over twenty years ago the slot machine accounted for 30 percent of the casinos' profits. Today it accounts for about 70 percent. Computer technology and the ability to play with little to no gambling knowledge makes it possible to offer life-changing jackpots big enough to turn a pauper into a king.

However, the fact that it doesn't take much gambling knowledge to play means that most people don't understand the inner working of the slots -- which makes it easy to explain a loss or a win with some false logic. Like any other 'wives tales' these are passed from person to person until they become gospel. Most of these myths and misconceptions are harmless but they can add to your frustration and take away some of the enjoyment of your casino visit. Let’s take a look at a few of the most popular myths and the truth behind them.

Myth #1

Myth

Someone hit a jackpot on the machine you just left -- so you would have won that jackpot if you kept playing.
This is probably one of the most common notions about slot machine gambling -- but it's patently false. The slot machines have a computer chip inside that runs the Random Number Generator (RNG). The RNG is continuously cycling through numbers even when the machine is not being played. These numbers correspond to the stops on the wheel that display the winning or losing symbols that you see when the reels stop. When you hit the spin button or pull the handle, the RNG picks the combination at that given microsecond. If you had stayed at the machine, it is highly unlikely that you would have stopped the RNG at the exact nano-second to display that same combination of numbers. In the time it takes to talk with a friend or sip your drink the RNG has cycled through thousands of combinations.

Myth #2

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You can tell the odds of winning by counting the symbols on each wheel.
Actually, you can't. The RNG generates a number for each spin. There can be hundreds of virtual stops on each wheel even though you only see a few symbols. For example, you may see 20 symbols on each wheel of a three-reel machine. You figure 20 x 20 x 20 = 8,000 combinations and your chance of hitting the jackpot is 1 in 8000. In reality, the computer chip may program 256 stops for each wheel which makes the odds 256 x 256 x 256 =16,777,216 combinations. Being able to generate millions of combinations is the reason that slots can offer large paybacks.

Myth #3

Casinos can loosen or tighten the slot machines with the flip of a switch.
In actuality, the slot machines have a computer chip in them that determines the payback percentage. These are preset at the factory. In order for a casino to change the payback, they would have to change the chip. In most jurisdictions, there is paperwork that has to be filled and submitted to the Casino Control Commission for each machine if the chip is changed. It's time-consuming and the chips are very expensive. For this reason, it is more economical to decide on the payback percentages before purchasing the machines and having the factory ship them with the proper chip.

Myth #4

A machine that has not been paying out is due to hit.
There is no way to determine if a machine is due to hit. Each spin is a random occurrence and has no bearing on what has happened previously. Don't ever play more than you should because of this misconception -- it will be devastating to your bankroll if you do.

Myth #5

The temperature of the coins played will affect the way a machine pays.
Unfortunately, the machine is not affected by temperature. It doesn't matter if you play hot, cold, old or new coins. The coin slot is a mechanical device and has no feeling.

Myth #6

If you use your slot club card the machine will pay back less.
This may well be the most damaging myth of them all. There is no link between the card reader and the RNG, but by not using your player's card you are denying yourself valuable comps and sometimes cash back from the casino.

  • Slot machines are programmed to have “hot streaks” and “cold streaks”.
  • Slot machines are programmed so each individual spin is random.

Slot machines can go on hot streaks and pay out consistently for a period of time, and also cold streaks where they barely pay out at all. However, they are not programmed thisway.

Each spin is entirely random, and such streaks are simply a result of a short-term deviation from what is statistically likely. Anything can happen in the short term, just as you may see a runof 10 blacks in a row at a roulette table, but in the long run the results will always equate roughly to the expected payout rate.

  • Slot machines that haven’t paid out for a while are due to pay out soon.
  • The chances of winning for each individual spin are always the same.

Myth Of Gold Slot Machine Biggest Payout History

This is really just an extension of the previous myth. A slot machine will always pay out eventually, but there is no way of telling when that will happen because of their random nature.

Again, it is important to recognize that each individual spin is entirely random. There is no point at which a machine suddenly becomes “due” to spin a winning combination.

  • A machine that has just paid out a jackpot won’t pay out again for ages.
Myth Of Gold Slot Machine Biggest Payout

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  • The chances of winning for each individual spin are not connected to previous spins.

You can probably see a theme developing here, and it will continue throughout the whole article. Many slot machine myths are related to some kind of theory that the chances of winning aresomehow influenced by things that actually have no effect whatsoever.

We’ll say it again – every single spin of a slot machine is a random event. There is actually no reason at all why a slot machine wouldn’t pay out another big win withinminutes of paying a jackpot.

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  • You can’t do anything to improve your chances of winning when playing slot games.
  • You can improve your chances of winning at slot games.

This might seem to somehow contradict what we’ve already said about slot machines being random. However, while it’s true that you can’t do anything at all to affect the outcome of any givenspin of a machine, there are a couple of things you can do to improve your overall chances of winning when playing slots.

First of all, not all slot machines pay out at the same rate. Slots can have a payout rate as low as 85% or as high as 98%. You always have a chance of winning regardless of the payout rate,but the higher the rate the higher your overall return is likely to be in the long run.

Therefore, you can technically improve your chances of winning by carefully choosing which slots to play.

Secondly, you can increase the overall value you get from your slots play by using a player’s card at land-based casinos and by taking advantage of the bonuses and rewards available at onlinecasinos.

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This won’t directly affect your chances of any given spin being a winner, but it can effectively give you extra money to play with. This extra money then gives you additional chances to get awinning spin.