Slot machines have been captivating people since the 18th century, evolving significantly with themes, fancy electronics, and flashing lights. In this article, we will explore some fascinating facts about slot machines that you may not know.
Slot machines pay out 90% of the funds they collect
Contrary to popular belief, there is no such thing as hot or cold machines. Slot machines pay out 90% of the funds they collect, making them responsible for 80% of a casino’s revenue. However, this does not mean that nine out of ten people will walk away from the casino with enough money to buy a Rolex. Initially, players receive small amounts of money, and as time goes on, the rest is accumulated into a jackpot that can be won.
Japan has more slot machines than the USA
You might be surprised to learn that Japan has more slot machines than the United States. Studies have shown that there is a slot machine for every 27 people in Japan, while in the United States, there is one machine for every 350 people.
The first slot games had five reels
When slot machines were first invented in the 18th century, they were inspired by poker and had five reels. However, at some point along the way, the design was simplified to only three.
The first slot machine was similar to video poker
Developed in the 19th century, the first poker machine was based on a simple mechanical design. The famous inventor Charles Fey adapted the poker machine and added a “hold” feature. As a result, he named the game “Skill Draw.”
Fruit symbols appeared after slot machines were banned in the USA
Herbert Mills developed an American slot machine sufficiently different to receive a separate patent from Charles Fey’s monopoly on American slot machines. Besides the mechanical differences, he used fruit symbols on the reels instead of the then-customary numbers and suits.
RTP percentage is higher in online casinos
Online slots tend to offer a return to player (RTP) percentage between 94% and 98%, while land-based slot machines have a return to player percentage between the mid-80s and the low 90s.
No strategy can be used in slots
While many claim to have strategies to win at slot machines, they are all equally worthless. The reels only show the results, as the real results are determined by the random number generator inside the machine.
Slot players are not the only ones addicted to gambling
Since the early 1990s, there has been a significant increase in slot players attending Gamblers Anonymous meetings and seeking similar help for their gambling addiction.
More than 80% of casino revenue comes from slots
Only a decade has passed since slot machines started generating twice as much revenue per year as all the table games combined in the industry.
Slots are a game of luck
You can win at slot games in several ways, but luck will always play a significant part. There is no solid strategy to be followed to win prizes consistently.
Slot machines have different names around the world
The names range from cute terms like “puggies” to downright puzzling phrases like “liberty bells.”
In conclusion, slot machines have come a long way since their inception. They have different names around the world, and Japan has more slot machines than the USA. Despite their evolution, slot machines remain a game of luck, and no strategy can be used to win. Whether we love them or hate them, we hate to love them. Slot machines are one of a kind, and their popularity has not diminished over the past two hundred years.