Slot Machine Tournament Basics: Buy-ins & Prize Pools Slot Machine Tournament Buy-ins. Many slot machine tournaments require a buy-in. Most of the buy-in goes towards funding the prize pool. The remaining amount is a fee that goes to the house for running the tourney. Here’s an example of a slot machine tournament buy-in: The entry fee is $10.

The gaming industry is big business in the U.S., contributing an estimated US$240 billion to the economy each year, while generating $38 billion in tax revenues and supporting 17 million jobs.

What people may not realize is that slot machines, video poker machines and other electronic gaming devices make up the bulk of all that economic activity. At casinos in Iowa and South Dakota, for example, such devices have contributed up to 89 percent of annual gaming revenue.

Spinning-reel slots in particular are profit juggernauts for most casinos, outperforming table games like blackjack, video poker machines and other forms of gambling.

Casino Gambling Slot Machines

What about slot machines makes them such reliable money makers? In part, it has something to do with casinos’ ability to hide their true price from even the savviest of gamblers.

The price of a slot

An important economic theory holds that when the price of something goes up, demand for it tends to fall.

But that depends on price transparency, which exists for most of the day-to-day purchases we make. That is, other than visits to the doctor’s office and possibly the auto mechanic, we know the price of most products and services before we decide to pay for them.

Slots may be even worse than the doctor’s office, in that most of us will never know the true price of our wagers. Which means the law of supply and demand breaks down.

Casino operators usually think of price in terms of what is known as the average or expected house advantage on each bet placed by players. Basically, it’s the long-term edge that is built into the game. For an individual player, his or her limited interaction with the game will result in a “price” that looks a lot different.

For example, consider a game with a 10 percent house advantage – which is fairly typical. This means that over the long run, the game will return 10 percent of all wagers it accepts to the casino that owns it. So if it accepts $1 million in wagers over 2 million spins, it would be expected to pay out $900,000, resulting in a casino gain of $100,000. Thus from the management’s perspective, the “price” it charges is the 10 percent it expects to collect from gamblers over time.

Individual players, however, will likely define price as the cost of the spin. For example, if a player bets $1, spins the reels and receives no payout, that’ll be the price – not 10 cents.

So who is correct? Both, in a way. While the game has certainly collected $1 from the player, management knows that eventually 90 cents of that will be dispensed to other players.

A player could never know this, however, given he will only be playing for an hour or two, during which he may hope a large payout will make up for his many losses and then some. And at this rate of play it could take years of playing a single slot machine for the casino’s long-term advantage to become evident.

Short-term vs. long-term

This difference in price perspective is rooted in the gap between the short-term view of the players and the long-term view of management. This is one of the lessons I’ve learned in my more than three decades in the gambling industry analyzing the performance of casino games and as a researcher studying them.

Let’s consider George, who just got his paycheck and heads to the casino with $80 to spend over an hour on a Tuesday night. There are basically three outcomes: He loses everything, hits a considerable jackpot and wins big, or makes or loses a little but manages to walk away before the odds turn decidedly against him.

Of course, the first outcome is far more common than the other two – it has to be for the casino to maintain its house advantage. The funds to pay big jackpots come from frequent losers (who get wiped out). Without all these losers, there can be no big winners – which is why so many people play in the first place.

Specifically, the sum of all the individual losses is used to fund the big jackpots. Therefore, to provide enticing jackpots, many players must lose all of their Tuesday night bankroll.

What is less obvious to many is that the long-term experience rarely occurs at the player level. That is, players rarely lose their $80 in a uniform manner (that is, a rate of 10 percent per spin). If this were the typical slot experience, it would be predictably disappointing. But it would make it very easy for a player to identify the price he’s paying.

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Raising the price

Ultimately, the casino is selling excitement, which is comprised of hope and variance. Even though a slot may have a modest house advantage from management’s perspective, such as 4 percent, it can and often does win all of George’s Tuesday night bankroll in short order.

This is primarily due to the variance in the slot machine’s pay table – which lists all the winning symbol combinations and the number of credits awarded for each one. While the pay table is visible to the player, the probability of producing each winning symbol combination remains hidden. Of course, these probabilities are a critical determinant of the house advantage – that is, the long-term price of the wager.

This rare ability to hide the price of a good or service offers an opportunity for casino management to raise the price without notifying the players – if they can get away with it.

Casino managers are under tremendous pressure to maximize their all-important slot revenue, but they do not want to kill the golden goose by raising the “price” too much. If players are able to detect these concealed price increases simply by playing the games, then they may choose to play at another casino.

This terrifies casino operators, as it is difficult and expensive to recover from perceptions of a high-priced slot product.

Getting away with it

Consequently, many operators resist increasing the house advantages of their slot machines, believing that players can detect these price shocks.

Our new research, however, has found that increases in the casino advantage have produced significant gains in revenue with no signs of detection even by savvy players. In multiple comparisons of two otherwise identical reel games, the high-priced games produced significantly greater revenue for the casino. These findings were confirmed in a second study.

Further analysis revealed no evidence of play migration from the high-priced games, despite the fact their low-priced counterparts were located a mere 3 feet away.

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Importantly, these results occurred in spite of the egregious economic disincentive to play the high-priced games. That is, the visible pay tables were identical on both the high- and low-priced games, within each of the two-game pairings. The only difference was the concealed probabilities of each payout.

Armed with this knowledge, management may be more willing to increase prices. And for price-sensitive gamblers, reel slot machines may become something to avoid.

For the purposes of organizing our detailed reviews of various slots games, we’ve organized this section of our site according to which companies design and manufacture which games. Slot machineproviders like IGT have been around for decades and serve both the land-based and online casino markets. Others, like Realtime Gaming, have been around for less than a decade and only serve theInternet market.

Clicking on the links to the providers’ pages will take you to the information page on that company. That page will include a list of the games that company provides. On this page, we providebrief overviews of each company, including a couple of examples of well-known games that each company produces.

We’ve done our best to make this section as comprehensive as possible, but there are literally thousands of slots games available. If we’ve left out a provider or a game that you feel is worthyof conclusion here, please use the information on our “contact us” page to let us know.

Ainsworth Game Technology is an Australian company that’s been in business for 20+ years. The company is named after its founder, Len Ainsworth. The company is publicly listed under the codeAGI on the Australian stock market. They have headquarters in Newington, Sydney, Australia. We offer detailed reviews of their most famous games, including Dragon Lines, Eaglebucks, and GrandDragon.

Amatic Industries is an international designer and manufacturer of slot machines games found in casinos all over the world. They’ve been in business since 1993. They offer more than just slots,though—they’re also one of the leading designers of electronic roulette games. The company has won multiple industry awards, including “Most Stylish Gaming Machine” at the Irish Gaming Show andthe Golden Dice Award at ICE. We offer comprehensive reviews of some of their best-love titles, including Admiral Nelson, Cool Diamonds, Eye of Ra, Lucky Coin and Wolf Moon.

Amaya Gaming is best-known as the Internet juggernaut which bought PokerStars, making them the largest online poker provider in the world. It also catapulted them into the leading position oflargest publicly traded gambling company in the world. They do work in partnership with other companies—for example, their partnership with Aristocrat enables players to play some of the mostfamous Australian poker machines (pokies) online. Some of their more popular slot machine games include Casinomeister, Forrest Gump, Jenga, Superman, and The Flash.

Reddit Slot Machine Gambling Games

Aristocrat Gaming Technology is another publicly traded company based out of Australia. (What can we say? Slot machines are really popular in that country, even if they call them “pokies”instead of “slots”.) The company was founded in 1953. They have licenses to operate in 240 different jurisdictions in 90 different countries throughout the world. Some of their better-knowngames include 50 Lions, Zorro, Sons of Anarchy, The Walking Dead, and Dumb and Dumber, among many others.

Ash Gaming has been in business since 2002 and focuses on providing specific games to specific clients, especially those in the sports betting industry who want to expand their offerings totheir player base. They also focus primarily on the Internet market. They don’t have the most extensive list of games in the industry, but some of their games are popular, including Alice inWonderland, Life of Brian, Nostradamus, and Who Wants to Be a Millionaire.

Bally Technologies is one of the oldest and best-known companies on this list. They’ve been in business since 1968, and they offer a huge range of games. If the name sounds familiar, it’sbecause the company is large enough to be involved in multiple aspects of the business. At one time, they were also popular providers of regular video games and pinball machines. They also havea casino in Las Vegas. They have a number of lucrative licensing deals, and they design and manufacture some of the following slot machines: Betty Boop, Double Dragon, Ducky Dynasty, Grease,Pawn Stars, Titanic, and ZZ Top.

Barcrest Gaming is a UK company that’s been providing gambling machines to businesses since 1968. They were acquired by IGT in the late 1990s but were then sold to Scientific Games in 2011.Both IGT and Scientific Games saw the wisdom in letting the brand continue under its own name, which it still does. You’ll find pages on our site providing complete game details for thefollowing games: Crown Gems, Rainbow Riches, Thai Flower, and Wipeout.

Internet Slot Machine Gambling

Betsoft Gaming is famous for their innovative and impressive 3D gaming products available on the Internet. We try to be as objective as possible when writing about any company on this site.Spend some time here, and you’ll see that we rarely “toot a company’s horn”, as it were. But the games from this provider are so much more impressive than anything else on the market that it’shard to not brag on them at least a little bit. They focus more on Internet gaming than land-based casino games. Some of the games from Betsoft Gaming that we especially enjoy include: AfterNight Falls, A Night in Paris, Dr. Jekyll and Mr. Hyde, Good Girl Bad Girl, and Greedy Goblins. You’ll find more of their games listed on our page devoted exclusively to their company.

Reddit Slot Machine Gambling Machines

Reddit Slot Machine Gambling Machine

Blueprint Gaming is a provider of gaming machines to the UK market, but they’re actually owned by a German company, the Gauselmann Group. They focus on creating games for Internet and mobilegamblers. They have multiple unusual licenses, including slots with the following themes: Austin Powers, Bejeweled, Chuzzle, Peggle, Plants vs Zombies, and Zuma. You can read about any of thoseindividual games here on our site, as well as find more details about Blueprint Gaming on their corporate profile page here.