How To Minimize Your Losses Slot Machines
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- How To Minimize Your Losses Slot Machines On Mac
If you have already gambled in an online casino, then you know that even the simplest slot machine requires the knowledge of all ins and outs of the game. Of course, you can simply spin it hoping for the winning combination. But if you develop your own strategy, you can seriously increase your prize and minimize your losses. Apr 24, 2019 Slot machines come in different denominations, like penny slots, 5-cent slots, dollar slots, etc. Dollar slots have bigger payouts, but more risk and you might hit your loss limit faster. Penny slots won’t bankrupt you, but you won’t win big, either. However, you can spend a lot of entertaining time playing. To minimize your losses, you need to stick to your plan. Keep your bets at a level that you’re comfortable with. If you must make a change, move to a different machine or a different table, but not one with a higher bet. Better yet, take a break. Walk outside, get something to eat, or have a drink. Then return with a clear head and see what happens. The thrill of trying to win a big jackpot is enough to make many people keep spending, even if they haven't won any of their money back. Although you won't win with every spin, there are some ways to increase your chances of winning and potentially minimize losses when playing slot machines.
New slot machine players are going to find a lot of advice for beating the slots. Have a healthy skepticism when a slots expert tells you they know how to beat the slot machines. Among the games in a casino, video slots (in general) have a high house edge. Besides finding gaming machines with high jackpots and a low house edge, no skill or strategy is required to play slots. That means you can’t expect to increase your odds of winning in most situations.
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Read through the advice below to optimize your chances of winning at slots. None of the advice assures winning sessions. Instead, it helps you stretch your bankroll, so you enjoy playing the slots longer. Also, the longer your bankroll lasts, the more chances you’ll have of hitting the big jackpot every slots player wants.
Use a Slots Card
Upon entering a live casino, sign up for a slots card. This provides comps and cashback, which automatically lowers the house edge by a bit. Never play a spin without using your slots card. In an online casino, accept the highest slots bonus and play according to the terms and conditions until you meet the wagering requirement. Once again, this lowers the house edge on online slots.
Make Max Bets
Look at the payout chart on a slot machine to determine how jackpots are paid. On many slot machines, the 5-coin bet pays out a higher percentage on the top fixed jackpot. For instance, a 1-coin bet might pay $200, a 2-coin bet might pay $400, a 3-coin bet might pay $600, and a 4-coin bet might pay $800. You might expect the 5-coin bet to pay $1000, but many slot machines pay out $1200 or $1500 in that case, trying to convince bettors to make the max bet.
If the jackpot increases a bigger percentage with a maximum coin wager, then it makes sense to make the max bet on a slot machine. If the bet size is too high for your tastes, then lower the coin denomination and make a max bet at that level. Of course, if there is no additional jump between the 4-coin and 5-coin bet, then you can wager a single coin and max out the coin denomination to the bet size you like.
Read the RTP Information
If an online casino or land-based casino publishes its return-to-player information, read through the RTP percentages to find the video slots with the best RTPs. Return-to-player or expected return is the percentage of a theoretical $100 you expect to see returned to you. It is a theoretical percentage based on probability, so an RTP of 95% does not assure you’ll be paid $95 for every $100 you put in the machine. You might lose $50 or you might win $150, or you might win a progressive jackpot and go home rich.
The point of the RTP percentage is to give a player an idea of their expected return. If two slot machines sit next to one another and one has an RTP of 93% and the other an RTP of 95% (and both have similar jackpots), then it pays to play the game with the higher percentage. Over time, this leads to you maintaining a higher percentage of your bankroll.
Money Management Techniques
Read about bankroll management techniques. “Money management” or “bankroll management” is a series of steps you take to lock on winnings when good luck happens and limit your losses when a bad streak occurs. These do not assure that you’ll win, but it optimizes your bankroll.
Players should know three core bankroll management methods: percentage betting, win goals, and loss limits. Learn to calculate your bankroll and divide this into percentages. Then bet between 1% and 5% of your bankroll on any given hand, depending on your capacity for risk. This limits the amount of your stake you lose on any given session, keeping you playing for longer throughout your vacation. It is a given that people go to the ATM machine or credit card when they lose their whole bankroll — which means you spend more than you intended. The point of percentage betting is to assure your bankroll last through your whole trip, so you never have to replenish.
What Is a Bankroll?
“Bankroll” is not defined as your entire bank account. It isn’t defined as your discretionary spending budget or the money you have earmarked for entertainment expenses. Instead, it is a part of your discretionary spending cash and entertainment budget which is set aside specifically for gambling. In this case, a bankroll is less than your entertainment budget.
Once you have your bankroll figured, divide this into easy to understand percentage. If you have a bankroll of $1000, then divide this into percentages. These are simple calculations, but you should have an understanding of 1%, 2%, 5%, 10%, and 20% of your bankroll. In the earlier example, 1% would be $10, while 2% would be $20. 5% would be $50, 10% would be $100, and 20% would be $200.
Slot machines in Ontario are set to pay back at 85 per cent or higher, so the casino can hold onto as much as 15 per cent of the money wagered on a slot machine. Not all machines are set at this rate, however, and different versions of the same game may have payback percentages ranging from 85 per cent to 98 per cent. Oct 22, 2010 Gambling addiction is brutal and highly destructive. It can lead to dire consequences that run the gamut from bankruptcy, job loss, depression, anxiety, loss of friends and family, and even suicide. It is so important for the addict to stop gambling sooner rather than later. This addiction. Aug 20, 2018 Slot machines are the crack cocaine of gambling. Slot machines are powerful revenue-generating forces designed to keep the player spending more money. The innocence of the slot machine attracts the gambler as he walks through the casino but the slot machine addiction has been described as the crack cocaine of gambling. Nov 29, 2013 I am so grateful to find this site just in the nix of time I have been gambling for about 4 years on slot machines. Losing and still returning, with every dime I get. I work so hard only to spend it on machines. When you stop gambling, your life will improve permanently, and you will reclaim your life that you once had before. How to stop slot machine gambling.
Now that you have these, decide whether to bet 1% to 5% of your bankroll. Most experts suggest betting no more than 1% to 2% in order to maintain your bankroll throughout your casino trip or online slots session.
Setting a Win Goal
Next, set your win goal. This is the amount of winnings you set as your goal for any given slots session. If you have a win goal of 10%, then your win goal would be $100 for any given slot machine sessions. As soon as you hit that goal, you walk away from the slot machine — no matter what. A win goal is a hard-and-fast rule, because it locks in winnings. One of the biggest mistakes players make is losing back their winnings, because they think they’re on a hot streak.
Setting a Loss Limit
Even more dangerous is trying to win back cash you just loss. To protect against this tendency, set a loss limit. Once again, make this your hard-and-fast rule. Typical loss limits can be 5%, 10%, 15%, or 20% — though 20% means you could lose the entire bankroll in 5 slots session. 10% to 15% is a good middle ground. Once you’ve lost that amount, walk away from the slot machine under all circumstances. The slots game is not “due” to pay out, so step away from the machine and clear your mind.
Win goals and loss limits guard against gambler’s fallacy. Gambler’s fallacy is the idea that the law of averages assures or weight the odds in your favor. Slots use random number generators and every spin is entirely separate from the previous spin. Losing the last spin does not make it more likely you’ll win the next spin. The odds stay the same, no matter how many wins or losses in a row you’ve had.
Avoid Progressive Betting
For that reason, avoid progressive betting systems like the Martingale system, D’Alembert system, Fibonacci system, and so on. Betting experts have used computer simulations to track the progressive betting methods against flat betting (same bet each spin). Flat betting beats all of the progressive betting schemes over 1 billion spins.
Progressive betting seems like it’s working, because it leads to a lot of small winning sessions. The problem is that it also has a handful of huge losing sessions which wipe out all the wins — and then some. You can’t beat the house edge with the Martingale system, however it might look to the naked eye. The Fibonacci numbers are incredible, but they are not a magical way to beat the casino.
The reason progressive bets are bad is they increase the size of your bets (in some systems exponentially). If you start with $5 or $10 bets, a streak of bad luck has you betting hundreds of dollars on one spin. That’s busts your bankroll and leads to a “risk of ruin” — meaning you’ll lose your whole bankroll if you hit a bad luck streak. No matter what you read online, flat bets are better.
Take Breaks for Rest and Refreshments
Play when you are at your best physically and mentally. Don’t play when you’re tired or sleepy. Don’t play when you’re hungry or thirsty. Take frequent rest and restroom breaks. If you get bored, take a break and walk the casino. Play another game to change up the betting pattern.
When you are rested and engaged, you won’t have distractions that might lead to bad decisions. The idea is to have fun, so if anything is causing you to lose focus on the entertainment aspect of the game, walk away and save your bankroll.
Don’t Go on Tilt
Tilt is a concept in poker where a player makes decisions based on emotional responses instead of solid strategy. It can cost a player a lot of money if they make bets based on anything but rational decisions. While going on tilt is not a concept in slot machine gambling, every game of chance has a personal component.
In short, don’t play when you’re agitated. Take stock of your inner thoughts. If your ego or anger is causing you to make irrational decisions, take a deep breath and calm down. If that doesn’t work, walk away and clear your head. It stinks to lose a series of bets, but what stinks more is to lose a series of bigger bets when you’re trying to make up for lost bankroll.
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Slot machines are popular because they’re easy to play and they offer the chance to win a big prize for a small bet. You can judge how popular slots are by looking around in any casino to see how much floor space is filled with slot machines. The casinos dedicate the most floor space to popular games, and slots dominate most casinos.
The slots also happen to be one of the most profitable games the casinos offer, so the casinos are happy to offer as many machines as they can as long as players keep playing. The same is true for online casinos. They offer as many slot machines as possible, because they know that’s what players want.
Here are the three top mistakes slot machine players make. You can quickly make adjustments and correct all three of them starting today.
1 – You Play Too Many Spins Every Hour
The house edge is higher on slot machines than most other casino games. But this is only part of the problem with playing slots. Slot machine players fall into the trap of not realizing how much they’re risking over time because the amount they bet on a single spin is low.
Slot machines are designed so you can play them as fast as you want. You can hit the spin button as fast as you can and get as many as 600 spins in every hour. This is true whether you play online slots or play at a land based casino.
If you take 600 spins per hour, look at the following information to see how much you’re risking every hour based on the total amount of your bet.
Bet Size | Total Wagers Every Hour |
.25 | $150 |
.50 | $300 |
$1 | $600 |
$2 | $1,200 |
$5 | $3,000 |
$10 | $6,000 |
As you can see, even if you’re playing on a quarter machine, you’re running a lot of money through the machine every hour when you play fast. If you’re like me and like to chase progressive slots jackpots, many machines have a bet size of $1 or $2 to be eligible for the top jackpot. At this level, you’re really starting to rack up the amount you risk every hour.
With a high house edge, playing slot machines can drain your bankroll faster than most other casino games, even though the bet size is smaller. If you play a table game and bet $20 per hand but only play 50 hands per hour, your risk per hour is $1,000. Compare this to playing 600 spins on a slot machine at $2 a hand. You risk an extra $200 an hour playing slots at a much lower risk per decision.
Once you add in the difference in the house edge between slots and other games, you can see how slots are rougher on your bankroll than most games. Here are some examples for comparison.
Game | Approximate House Edge | Risk Every Hour | Expected Hourly Loss |
Slots | 5% | 600 X $2 = $1,200 | $60 |
Blackjack | 1% | $20 X 60 = $1,200 | $12 |
Craps | 1.5% | $20 X 50 = $1,000 | $15 |
Roulette | 2.5% | $20 X 50 = $1,000 | $25 |
One of the reasons players like to play slots is because they can get lucky and win a big jackpot. The other games on this list generally don’t offer as much upside like slots can. Overall, you lose more playing slots, but you’re never going to win a $100,000 jackpot playing craps or roulette.
One thing you can do to minimize your losses while playing slot machines is to play fewer spins every hour. In other words; slot down when you’re playing slots. You can cut your expected losses in half by playing 300 spins every hour instead of 600. This tactic works for both land based slot machines and when you play online slots.
2 – You Don’t Activate the Bonus Pay Lines
When slot machines started becoming popular, they were much simpler than they are now. They didn’t have as many reels and they only had a few pay lines. Now, with video based slot machines, you can find games with many reels, hundreds of pay lines, special bonus games and games within games, and all kinds of other special features.
Slot machines that offer bonuses, jackpots, and progressive opportunities seem to be available everywhere you can play slots.
Reading the rules is important, especially if the slot machine has any special features like bonus rounds and jackpots. Some slot machines require extra bets beyond the base game wagers in order to activate the pay lines that unlock bonus rounds, bonus games, and jackpots. If you don’t know the rules, you can play a machine and hit what would be a huge jackpot, but miss out because you didn’t have the correct pay line activated.
The easiest way to avoid making a mistake that costs you a big win is to always activate all of the available pay lines. If this makes the bet size too high for your bankroll, find a machine offering a lower maximum bet.
The good news is that many video slot machines are either designed so you can only make one size bet, which activates all of the pay lines, or are designed so you can hit a single button that automatically makes the max bet.
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3 – You Play Online Slots Without a Bonus
I prefer playing most forms of gambling live. I’d rather play poker and blackjack live than play online. But one of the few games that are better online is slot machines. You don’t have to wait for a seat to open up at your favorite slot machines, and you don’t have to worry about anyone sitting down beside you and bothering you.
You also don’t have to load up the card and drive to your local casino or the airport for a trip to Las Vegas or somewhere else. Playing slots online saves you time and money, and you have access to a wider variety of slots games than you have in most casinos.
All of the reasons listed above are good reasons to play online slots, but I haven’t even shared the best one yet. When you play slots online you can get all kinds of deposit and reload bonuses that let you play longer.
When you start looking for bonuses when you play other casino games, it can be difficult because many bonuses aren’t for other casino games. But almost every single online casino bonus you can find is designed for slots play.
I’ve seen slots bonuses of $10,000 and higher, and I’ve never had trouble finding a deposit or reload bonus when I wanted to play online slots. If the casino where I’m playing doesn’t offer one, they usually give me one if I ask, but I can play at dozens of other online casinos that do offer bonuses.
To have the best chance to win a big jackpot, you need to be able to take as many spins as you can. This is where a big bonus fits perfectly.
If you’re playing a progressive jackpot slot machine that has a $2 per spin cost, you can take twice as many spins with a $1,000 bankroll as you can with a $500 bankroll. And when you get a 100% matching deposit bonus, you’re doubling your bankroll. Some casinos even offer more than 100% bonus on your deposit.
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I never play online slots without a bonus, and I don’t suggest you do so either. Just remember to read the terms and conditions of the slots bonus so you know exactly what you have to do to cash out if you get lucky and hit a huge jackpot.
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Conclusion
After reading this list of mistakes that slot players make, you might think that playing slots is a bad idea. While I usually suggest new gamblers start with a game with a lower house edge than slots, the slot machines do have some advantages. The minimum bet is small on most slot machines, and few games in the casino give you a chance to win a progressive jackpot like some slot machines.
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If you’re a slots player, use the information in this article to avoid making three big mistakes that almost every slots player makes. Don’t take so many spins per hour, make sure you always have all of the pay lines activated, and never play online slots without a big bonus.