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For the better part of the last century, slot machines were simple enough. They consisted of a metal box that housed spinning, mechanical reels with symbols on each reel. If the symbols lined up and matched, then the player won a jackpot.

Over the last three decades, computer and video game technology have caused big changes in how slot machines are played. Gamblers still see spinning reels, but the mechanism is now powered by a microcomputer called a random number generator.

Additional features have become commonplace, and dozens of different types of slot machines have become available. This page lists and categorizes the major types of slot machines available in casinos throughout the world.

Bonus Slots

One of the most common types of slots games now available are bonus slots, which offer bonus games when certain symbols or combinations of symbols appear on the payline. One of the most popular examples of this type of game is the ubiquitous Wheel of Fortune slot machine game, which features a replica of the wheel from the eponymous game show above the machine. When you hit certain symbols, you get to spin the wheel and get a bonus payout.

Banking Games

A banking game is a game in which coins are accumulated until they’re won. Piggy Bankin’ is one of the most popular examples of this kind of game, which has been around for a long time. Banking games should not be confused with progressive slots, which are covered later on this page.

Multiple Reels and Paylines

Early slot machines featured three reels and a single payline, but modern slot machines have a lot more possibilities. Why is this? Computers.

Three reel slot machines often now have multiple paylines, and five reel slot machines have an even greater number of paylines.

These changes have increased the potential size of the jackpots available on these games. It’s not hard to understand the math of why this is possible. If you have three reels with ten symbols on each, the hardest combination to hit has a 1 in 1000 chance of hitting. Any jackpot larger than 1000 to 1 would result in a loss for the casino.

Compare that with a five reel game with 256 different symbols on each reel. This kind of machine would be impossibly large if the reels were actual metal strips, but computers use imaginary reels, with results determined by a random number generator inside. With these kinds of odds, astronomical jackpot amounts can be offered, and the machine will remain profitable.

The number of paylines has increased dramatically, too. Early slot machines had a single payline, but now, common slot machine games offer the following numbers of paylines:

• 2
• 3
• 5
• 9
• 20
• 25

A new type of Australian slot machine game does away with paylines altogether, and these games offer 243 different ways to win. Basically, any combination of winning symbols from left to right results in payouts. These games are hugely popular, and even though the concept sounds a little confusing, it actually become intuitive very quickly during gameplay. In fact, 243 ways slots are wicked addictive fun.

Types of Progressive Slots – Standalone, Local, and Wide Area

Progressive slot machines offer constantly growing jackpots. These jackpots begin with a seed amount from the casino or network, and as each player plays, a tiny percentage of her bet is added to the progressive jackpot.

These jackpost can become astronomically high. The odds of actually winning such a jackpot are also astronomical. These types of games are comparable to the lottery.

Multiple versions of progressive slots are available. For example, a standalone progressive jackpot has a jackpot that’s tied to an individual machine. These types of progressive jackpots are generally in the $1000s of dollars range, and only play from that specific game count toward the progressive. In fact, standalone progressives are similar to banking slot machines.

Local progressive jackpots, on the other hand, feature linked jackpots within a single casino. These jackpots can grow larger faster because every bet on every machine in the network counts toward the growing jackpot. It’s not uncommon for these jackpots to reach into the $10,000s and even the $100,000s at larger casinos.

But the big jackpots are the wide area progressive games. These games link together slot machines from multiple casinos, and their jackpots are life-changing. These are the jackpots which get into the millions of dollars.

The most popular wide area progressive network in the world is called Megabucks, which was launched in 1986 by IGT, the largest and most successful slot machine manufacturer in the world.

Types of Online Slots

All of the above types of slot machines are available in online versions as well as traditional brick and mortar casinos. In fact, in jurisdictions where online gambling is legal but regulated, you can find exact duplicates of the games available at Vegas casinos.

Most of these games are made available via Wagerworks, which was purchased by IGT in 2005 for $90 million. Examples of these branded and popular slots games now available online include:

• Elvis
• Family Guy
• Jeopardy
• Judge Judy
• Lobstermania
• Star Trek
• Wheel of Fortune

Other online slot machine games are exclusively available online. Examples of these include games from Realtime Gaming and Microgaming, the latter of which offers some of the largest progressive jackpots on the Internet.

Games available in most casinos are commonly called casino games. In a casino game, the players gamble cash or casino chips on various possible random outcomes or combinations of outcomes. Casino games are also available in online casinos, where permitted by law. Casino games can also be played outside casinos for entertainment purposes like in parties or in school competitions, some on machines that simulate gambling.

Categories[edit]

There are three general categories of casino games: gaming machines, table games, and random number games. Gaming machines, such as slot machines and pachinko, are usually played by one player at a time and do not require the involvement of casino employees to play. Tables games, such as blackjack or craps, involve one or more players who are competing against the house (the casino itself) rather than each other. Table games are usually conducted by casino employees known as croupiers or dealers. Random number games are based upon the selection of random numbers, either from a computerized random number generator or from other gaming equipment. Random number games may be played at a table or through the purchase of paper tickets or cards, such as keno or bingo.

Some casino games combine multiple of the above aspects; for example, roulette is a table game conducted by a dealer, which involves random numbers. Casinos may also offer other type of gaming, such as hosting poker games or tournaments, where players compete against each other.

Common casino games[edit]

Notable games that are commonly found at casinos include:

House advantage[edit]

Casino games typically provide a predictable long-term advantage to the casino, or 'house', while offering the players the possibility of a short-term gain that in some cases can be large. Some casino games have a skill element, where the players' decisions have an impact on the results. Players possessing sufficient skills to eliminate the inherent long-term disadvantage (the house edge or vigorish) in a casino game are referred to as advantage players.

The players' disadvantage is a result of the casino not paying winning wagers according to the game's 'true odds', which are the payouts that would be expected considering the odds of a wager either winning or losing. For example, if a game is played by wagering on the number that would result from the roll of one die, true odds would be 5 times the amount wagered since there is a 1 in 6 chance of any single number appearing, assuming that the player gets the original amount wagered back. However, the casino may only pay 4 times the amount wagered for a winning wager.

The house edge or vigorish is defined as the casino profit expressed as the percentage of the player's original bet. (In games such as blackjack or Spanish 21, the final bet may be several times the original bet, if the player double and splits.)

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In American roulette, there are two 'zeroes' (0, 00) and 36 non-zero numbers (18 red and 18 black). This leads to a higher house edge compared to European roulette. The chances of a player, who bets 1 unit on red, winning is 18/38 and his chances of losing 1 unit is 20/38. The player's expected value is EV = (18/38 × 1) + (20/38 × (−1)) = 18/38 − 20/38 = −2/38 = −5.26%. Therefore, the house edge is 5.26%. After 10 spins, betting 1 unit per spin, the average house profit will be 10 × 1 × 5.26% = 0.53 units. European roulette wheels have only one 'zero' and therefore the house advantage (ignoring the en prison rule) is equal to 1/37 = 2.7%.

The house edge of casino games varies greatly with the game, with some games having an edge as low as 0.3%. Keno can have house edges up to 25%, slot machines having up to 15%.

The calculation of the roulette house edge was a trivial exercise; for other games, this is not usually the case. Combinatorial analysis and/or computer simulation is necessary to complete the task.

In games which have a skill element, such as blackjack or Spanish 21, the house edge is defined as the house advantage from optimal play (without the use of advanced techniques such as card counting), on the first hand of the shoe (the container that holds the cards). The set of the optimal plays for all possible hands is known as 'basic strategy' and is highly dependent on the specific rules and even the number of decks used. Good blackjack and Spanish 21 games have house edges below 0.5%.

Traditionally, the majority of casinos have refused to reveal the house edge information for their slots games and due to the unknown number of symbols and weightings of the reels, in most cases it is much more difficult to calculate the house edge than that in other casino games. However, due to some online properties revealing this information and some independent research conducted by Michael Shackleford in the offline sector, this pattern is slowly changing.^[1]

In games where players are not competing against the house, such as poker, the casino usually earns money via a commission, known as a 'rake'.

Standard deviation[edit]

The luck factor in a casino game is quantified using standard deviations (SD).^[2] The standard deviation of a simple game like roulette can be calculated using the binomial distribution. In the binomial distribution, SD = √npq, where n = number of rounds played, p = probability of winning, and q = probability of losing. The binomial distribution assumes a result of 1 unit for a win, and 0 units for a loss, rather than −1 units for a loss, which doubles the range of possible outcomes. Furthermore, if we flat bet at 10 units per round instead of 1 unit, the range of possible outcomes increases 10 fold.^[3]

SD (roulette, even-money bet) = 2b√npq, where b = flat bet per round, n = number of rounds, p = 18/38, and q = 20/38.

For example, after 10 rounds at 1 unit per round, the standard deviation will be 2 × 1 × √10 × 18/38 × 20/38 = 3.16 units. After 10 rounds, the expected loss will be 10 × 1 × 5.26% = 0.53. As you can see, standard deviation is many times the magnitude of the expected loss.^[4]

The standard deviation for pai gow poker is the lowest out of all common casino games. Many casino games, particularly slot machines, have extremely high standard deviations. The bigger size of the potential payouts, the more the standard deviation may increase.

As the number of rounds increases, eventually, the expected loss will exceed the standard deviation, many times over. From the formula, we can see the standard deviation is proportional to the square root of the number of rounds played, while the expected loss is proportional to the number of rounds played. As the number of rounds increases, the expected loss increases at a much faster rate. This is why it is impossible for a gambler to win in the long term. It is the high ratio of short-term standard deviation to expected loss that fools gamblers into thinking that they can win.

It is important for a casino to know both the house edge and variance for all of their games. The house edge tells them what kind of profit they will make as percentage of turnover, and the variance tells them how much they need in the way of cash reserves. The mathematicians and computer programmers that do this kind of work are called gaming mathematicians and gaming analysts. Casinos do not have in-house expertise in this field, so outsource their requirements to experts in the gaming analysis field.

See also[edit]

References[edit]

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1. ^'Michael Shackleford is the wizard of odds'. Observer. Retrieved 13 October 2015.
2. ^Hagan, general editor, Julian Harris, Harris (2012). Gaming law : jurisdictional comparisons (1st ed.). London: European Lawyer Reference Series/Thomson Reuters. ISBN978-0414024861.
3. ^Gao, J.Z.; Fong, D.; Liu, X. (April 2011). 'Mathematical analyses of casino rebate systems for VIP gambling'. International Gambling Studies. 11 (1): 93–106. doi:10.1080/14459795.2011.552575. S2CID144540412.
4. ^Andrew, Siegel (2011). Practical Business Statistics. Academic Press. ISBN978-0123877178. Retrieved 13 October 2015.

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