Odds On High Limit Slots

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gambler

I have read that dollar slots normally have about a 3% house edge, quarter slots about an 8% house edge and nickle slots about a 15% house edge. (Please correct me if these above numbers are wrong).
What is the house edge for the high limit slots? Would the $25 machines, the $100 machines and the $500 machines have a smaller house edge? If so, what would you guess them to be?

boymimbo

Your numbers are essentially close. The higher the denomination, generally, the lower the house advantage. About 10 years ago, I did a reporting gig for a gambling institution and was able to learn their slot house advantages; it was about 8.5% for nickels, 5% for quarters, and about 2.5% for dollars (they didn't have penny slots back then).

----- You want the truth! You can't handle the truth!

DJTeddyBear

Yeah, the higher the denomination, the lower the edge.
But don't let that fool you into thinking the casinos are more generous simply because it's a higher denomination.
If you multiply the house edge by the typical coin-in per spin, you'll get a higher amount retained by the house with the higher denominations. So the casino makes more, even though it is taking a smaller cut.
Of course, that begs a question: Does that theory hold true all the way to the highest denominations?

The $100 and particularly $500 machines don't get much play. So do the casinos still take such a small slice, or do they start to think about how much it costs to keep the machine on the floor when they set it's edge?

Superstitions are silly, childish, irrational rituals, born out of fear of the unknown. But how much does it cost to knock on wood? 😁 Note that the same could be said for Religion. I.E. Religion is nothing more than organized superstition. 🤗

Mosca

Hmmmm. I spend most of my slot time going between .25 and $1 machines, and I don't find a whole lot of difference between them. I do notice that the $5 machines are more likely to hit, but the bank required to play them is such that they are not worth it, considering that with that bankroll I could play craps or BJ. I wouldn't walk up to a $5 slot with less than $500 to put in it, and figuring how quickly that could get funneled through, I would think that a session bankroll for an evening of $5 slots would be about $2500.
But I do notice a difference between a .01 machine played at a penny per line (20 cent bet) and played at .10 per line ($2 bet); crank it up and watch it start to hit.
My guess is that this effect is based on a very small sample and not really the case; as humans, we try to make everything have a narrative, and the narrative would be 'I wasn't hitting, then I upped my bet and got 3 diamonds and played the bonus game!' When the truth is that I played out the $100 in about the same amount of time I would have anyhow.

cclub79

The HA of 2.5% on Dollar Slots is a myth. I Put $100 in a $1 slot and spun it 100x, and I NEVER ended up with $97.50. This math is probably from 3000 year old slot machines when people thought the earth was flat.

DJTeddyBear