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Payout percentage 1

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Slot machines are typically programmed to pay out as winnings 82% to 98% of the money that is wagered by players. This is known as the "theoretical payout percentage" or RTP, "return to player". The minimum theoretical payout percentage varies among jurisdictions and is typically established by law or regulation. For example, the minimum payout in Nevada is 75%, in New Jersey, 83%, and in Mississippi 80%. The winning patterns on slot machines – the amounts they pay and the frequencies of those payouts – are carefully selected to yield a certain fraction of the money played to the "house" (the operator of the slot machine), while returning the rest to the players during play. Suppose that a certain slot machine costs $1 per spin and has a return to player (RTP) of 95%. It can be calculated that over a sufficiently long period, such as 1,000,000 spins, that the machine will return an average of $950,000 to its players, who have inserted $1,000,000 during that time. In this (simplified) example, the slot machine is said to pay out 95%. The operator keeps the remaining $50,000. Within some EGM development organizations this concept is referred to simply as "par". "Par" also manifests itself to gamblers as promotional techniques: "Our 'Loose Slots' have a 93% payback! Play now!"

A slot machine's theoretical payout percentage is set at the factory when the software is written. Changing the payout percentage after a slot machine has been placed on the gaming floor requires a physical swap of the software or firmware, which is usually stored on an EPROM but may be loaded onto non-volatile random access memory (NVRAM) or even stored on CD-ROM or DVD, depending on the capabilities of the machine and the applicable regulations. Based on current technology, this is a time-consuming process and as such is done infrequently. In certain jurisdictions, such as New Jersey, the EPROM has a tamper-evident seal and can only be changed in the presence of Gaming Control Board officials. Other jurisdictions, including Nevada, randomly audit slot machines to ensure that they contain only approved software.

Historically, many casinos, both online and offline, have been unwilling to publish individual game RTP figures, making it impossible for the player to know whether they are playing a "loose" or a "tight" game. Since the turn of the century some information regarding these figures has started to come into the public domain either through various casinos releasing them—primarily this applies to online casinos—or through studies by independent gambling authorities.

The return to player is not the only statistic that is of interest. The probabilities of every payout on the pay table is also critical. For example, consider a hypothetical slot machine with a dozen different values on the pay table. However, the probabilities of getting all the payouts are zero except the largest one. If the payout is 4,000 times the input amount, and it happens every 4,000 times on average, the return to player is exactly 100%, but the game would be dull to play. Also, most people would not win anything, and having entries on the paytable that have a return of zero would be deceptive. As these individual probabilities are closely guarded secrets, it is possible that the advertised machines with high return to player simply increase the probabilities of these jackpots. The casino could legally place machines of a similar style payout and advertise that some machines have 100% return to player. The added advantage is that these large jackpots increase the excitement of the other players.

wikipedia.org

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