Slots Hero

Did you know that not all winnings from slots games are claimed?

I am not talking about the big wins, everyone makes sure to claim those. However, the smaller wins that go onto slots player’s slot machine tickets are not always claimed, and casinos in Nevada got to keep those unclaimed winnings. This allowed them to pull in millions in a year just from unclaimed wins on slots tickets. Every little bit adds up indeed.

But starting on July 1st the Nevada casinos will have to share those unclaimed wins with the state.

Assembly Bill 219 calls for a sharing of unclaimed slots wins at the casinos. When the bill was first introduced in the end of session rush by Senate Majority Leader Steven Horsford, it originally called for all unclaimed wins to be turned over to the state.

But the claim to 100% of the unclaimed slots winnings sparked some debate with Virginia Valentine, president of the Nevada Resort Association, at the front:

“Many of our members honored tickets after their expiration and the resorts would be explaining that the guest’s funds had gone to the state.” She followed this up by saying the 100% claim on Nevada’s part could be viewed as a gaming tax; if that was the case then the bill needed to be roped into the discussion on the state budget as part of a tax and revenue package.

Naturally the state backed down. The result was the 75% compromise.

Of the unclaimed slots wins, Nevada will receive 75% as a means of injecting some more money into the state’s coffers, while 25% would remain with the casinos to cover belatedly honored slots ticket claims.

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The Ameristar in East Chicago, Indiana is giving their slot machines the retail treatment in terms of how they are laid out on the casino floor.

How slot machines are positioned is very important to a casino. Slot machines need to be displayed so that they are easily seen from all part of the floor in an effort—and in hope—of drawing more players to them. Slot machines are the cash cows of the casinos after all.

When considering how to lay out slot machines the slots director will take into consideration revenue as their chief source of determining what goes where.

But the Ameristar is going a different route with its slot machines. They are taking a retail approach to their layout, meaning they are considering how casino patrons act as consumers to determine how to set up their slot machines. Check it out:

New products will generally garner a lot of attention from consumers. The Ameristar has taken that notion and has decided to prominently display new slot machines. Machines that have been on the floor 90 days or less will have signs declaring them new in hopes of drawing players that are like consumers who are drawn to brand new products.

Similarly many consumers are bargain hunters. The idea that the Ameristar is going to have a “bargain” slot machine area is a good idea. Not only will the older slot machines that make up the bargain slots be in their own area, they will have special perks assigned to them to increase their bargain factor.

The Ameristar will be giving their “bargain” slot machines 2x, 3x and 4x the points for the Ameristar player’s club card. For players who are wanting to increase their player points, the bargain slot machines will be the place to play.

While the idea of using consumer reasoning as the method for determining slot machine lay out is genius, I think, it will be interesting to see if this notion works or not. I am hoping it does because I really like the idea.

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Almost any brick and mortar casino has a high limit room. Players of slot machines know that there are slot machines in that high limit room. These machines usually are $5 per spin if not more. But there are also $5 slot machines on the regular casino floor as well.

This leads players to wondering if there is a difference between the two slot machines. Some believe that the $5 slot machines in the high limit room have a better payout percentage, a higher one than those on the regular casino floor.

This is one of those slots myths.

While I cannot say for sure 100%, it is unlikely that there is going to be a significant difference between the $5 slot machines in the high limit room and the $5 machines on the regular casino floor.

The reason for this is that the people in casinos that manage the slot machines, called slot directors, are the ones who order the casino’s slot machines. When they order them they tend to order slot machines with the nearly the same payout percentage as the other slot machines in that denomination.

This means that when a slot director orders $5 slot machines, in this instance, he or she will order them all with nearly the same payout percentage regardless if the slot machine’s final destination is the high limit room or the regular casino floor.

I believe this slots myth is something that is perpetuated by the casinos, perhaps not directly, but they certainly do not mind players being lured into the high limit rooms and being tempted to play other high limit casino games.

It is best to keep in mind as a bit of slots strategy that there is no significant difference between the payout percentages of the slot machines on the floor versus those in the high limit rooms.

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It is no secret that there is no slots strategy out in the world that will allow a player to influence the Random Number Generator (RNG) of a slots game. No amount of holy water or rabbits’ feet is going to make the RNG like you more.

However, there is one thing that a slots player can control: their bankroll.

Approaching bankroll management with the idea of saving money is a good attitude to have. But then this depends on how you judge the quality of your time playing. If you judge the quality of playing based the amount of time or money you put into playing then bankroll management can be done.

Managing your slots bankroll is similar to using coupons—the more you save the more you have in your pocket.

Translation: Throwing the maximum amount of money into a slots game is not going to make you any likely to win. Slots games do not recognize the amount of money as large or small, and use that to determine the likelihood of you winning.

Winning slots is based on chance and on luck. If you just so happen to be sitting in front of the game when the RNG pulls that jackpot winning combination then congrats to you. But the amount of your wager is not a factor.

So what are some ways to manage your bankroll as your slots strategy?

First off, stick to wagering only one coin on non-linked and non-progressive slots games.

Yes, those progressive jackpot slots games offer those life changing jackpots, but they are just carrots being dangled in front of players. Casinos and online casinos make money off of players who play progressive jackpots.

This is because you have to wager the maximum amount, meaning multiple coins, in order to be eligible to win that amount. Progressive jackpot slots games are linked so there are more players, which decrease everyone’s odds of winning it. Between the maximum wagering and the thousands of players, these are cash cows for casinos and online casinos.

This is why playing only one coin should be a part of your bankroll management and your slots strategy.

More to come in Part II.

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Over that last year or so those who play slot machines have been saying that there are fewer and fewer jackpots being paid out to players. In turn some players believe that casinos have changed the payout percentage of their slot machines.

It is not true.

Here is the deal. When a slot machine is put together in the factory the chip that is programmed with that machine’s payout percentage is installed. This chip is in place to control the payouts of that slot machine. Once it is installed the payout percentage is a done deal.

The only way a casino could change the payout percentage of one of their slot machines is to first submit a sheaf of paperwork to the Casino Control Commission requesting to change the payout percentage of a slot machine. This sheaf of paperwork would have to be submitted for each machine the casino wished to change.

If the request is approved the casino then has to purchase a new payout percentage chip and then pay for the old chip to be removed and the new chip to be installed in the slot machine. None of which is cheap.

What does all of this mean to you, slot machine player? It means that the casino does not just flip a switch to change the payout of a slot machine. It is a very detailed and time consuming process.

So why do there seem to be fewer jackpots?

It does not have anything to do with the casinos actually. But it does have to do with the economy.

People are making fewer trips to casinos. Some because of a lack of funds and others because they are choosing to play online casino games. With fewer people in the casinos and fewer people playing on slot machines, there are now fewer jackpots being paid out.

It simply comes down to that. Less people playing slot machines means less opportunities for a jackpot on a slot machine to be triggered, which means less actual jackpots being won from slot machines.

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Back in November of last year, residents in Ohio voted on whether to allow casinos within their state. The idea from lawmakers was to use to tax the casinos and use them as a source of income. The residents of Ohio wound up voting in favor of allowing casinos within their state.

Within the next couple of years or so four cities will see the addition of casinos to their landscape. Those four cities are Toledo, Cleveland, Columbus and Cincinnati.

But that is not the end of the matter.

Lawmakers as well as the Governor of Ohio, Ted Strickland, now want to add slot machines to the state’s racetracks.

With the economy down, racetracks have been having a hard time pulling guests in to their facilities. Strickland believes that adding slot machines can help increase the number of guests who drop by the racetracks. And, yes, the slot machines would be another source of income for the state on top of the casinos.

With the Ohio Lottery Commission looking to update their video lottery machines this month, lawmakers are looking at slipping in the opportunity for state residents to vote on allowing slot machines at their racetracks.

Gaming analyst Steve Schwartz said, “What we are seeing in Ohio is something that takes place in almost every state where casino gambling is legalized. Once the initial approval is signed, lawmakers keep pushing to see how much gambling can increase. With each expansion, more tax revenue goes to the state.”

But with a sad economy right now, more tax revenue might not be a bad thing. And residents in Ohio seem to be looking at it as personal taxes not increasing and programs kept running if casinos and slot machines are allowed within the state.

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Back on June 3rd S490 cleared the New Jersey Senate State Government, Wagering, Tourism and Historic Preservation Committee. This means that one more hurdle has been cleared in the effort to allow casinos in Atlantic City to offer online gambling options within the state to citizens.

You would think that the casinos would be throwing up their hats and celebrating the overcoming of that hurdle. You would be wrong. Instead Atlantic City casinos are gathering all their slots and table games in their arms and saying ‘No online gambling, thank you.’

In a letter to from the Casino Association of New Jersey (CANJ) to the chairman of the Regulatory Oversight and Gaming Committee, CANJ president Joseph Corbo expressed the CANJ’s opinion that they are interested in “viable business models to deal with some forms of Internet gambling,” but “it is very clear that the federal government must take the lead on this issue.”

But according to the Unlawful Internet Gambling Enforcement Act (UIGEA), states are allowed to offer online gambling. The only catch is that each state must be able to keep minors and non-residents of that state from gambling online.

So you would think that Atlantic City, knowing that the federal government has given them the clear as long as they can keep minors and non-residents from their online gambling services, would be all over the ability to offer online gambling such as slots games. But they are still fussing. Why?

I would have to say it is because they are afraid. In his letter, Corbo said that the eleven Atlantic City casinos are worried that they will still lose business overall because it would hurt them as a resort destination. In other words, they worry they will not make money in their shops, restaurants and hotels.

But there are two groups that gamble. The younger group are the ones who prefer playing their slots games or whatnot online, while the older group prefer going to the casino over sitting in front of their computers.

Frank Catania of the Catania Consulting Group of New Jersey believes that offering online gambling options would open up a new way for the Atlantic City casinos to try to bring in this younger group in to their casinos.

I did not expect to see Atlantic City turning its back on another method of bringing in income whether they use their online gambling options as a way to bring in guests or not.

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Here is something that is not quite fair for slots players in the brick and mortar casinos: the minimum $1,200 that must be reported to the IRS through one of those W-2G forms.

A little background, those who play slot machines have to report their winnings as soon as they hit $1,200. This seems like a rather antiquated rule considering that the advances in slot machines and slot gaming in general have made this a fairly common amount won by those who tend to play higher denomination slot machines.

When the slot machine that you are playing on pays out $1,200 it locks up. This forces you to cash out and claim the $1,200 on a W-2G form. Only then can you play on that slot machine again as the W-2G is the key to unlocking it.

The only time you do not have to claim the $1,200 minimum on a W-2G is when you do not provide a social security number that the casino finds believable or if you are a foreign national.

And do not think for a second that if you simply do not give the casino your social security number that you can get out of having your winnings taxed. If you will not give them a social and fill out the W-2G they will simply take the taxes out before they give you your winnings.

The government wants their money and they are going to get it. The casino has two options from the government’s point of view: they can either have the player fill out the W-2G so that the winnings can be noted as claimed through the casino, or the casino has to take the taxes out on behalf of the player.

What is not fair about this is how the slot machine locks up at $1,200 while this does not happen at a table game. The dealer does not stop dealing if a player wins $1,200.

Also, if a table game player wins more than $1,200 and then looses to the point that their net is less than $1,200. The casino only focuses on the net for table game players. Whereas for slots players they have to report anything $1,200 and above and then turn around and claim their losses under miscellaneous deductions.

On the other hand I would not want the government or the casino upset with me. So I guess it pays to know the all the rules and tips when playing slots. Know the game and know what payout requirements there are. You do not want the IRS chasing you down, especially with how much they need revenue now.

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Gambling can be a fun form of entertainment. And of the 54 million Americans who gamble, either in a casino or play in online casinos, only a handful have an obsession.

I am not talking about an addiction. A gambling addiction is when you are no longer in control of your urges to play. A gambling obsession is when you become fixated on winning and begin to abandon strategy for reckless playing without really realizing that you are being reckless.

I am not saying anything against gambling. What I am talking about is when a player is not being safe with their money, and taking a form of entertainment and removing the fun for it.

Slots players can become victims of their obsessions. It is not common but it does happen. One sign of obsessive slot playing is increasing the amount wagered on a spin in hopes of hitting a few big wins to make back what they have lost.

There are two problems with this though. One, a smart slots player knows that the chances of making back what was lost on a few big hits is slim to none. So a smart slots player who is in control will shrug off the loss and call it quits. The obsessive slots player will push the odds from his mind and place a few large wagers.

Two, when the slots player has lost his bankroll after trying to make a few large wagers, he then visits an ATM for more cash or tries to increase his credit with the casino. An online slots player will deposit more money to his account.

The point is that they have lost perspective of how much money they have lost and what their odds really are. And that loss of perspective is what can eventually lead to an addiction.

Some other signs of a gambling obsession are:

- Thinking about how the money you are gambling with could be used for something else more important such as bills, medical expenses, mortgages, etc.

- Your spouse or significant other is shocked by how much money you have lost. Shocking someone who knows you so well is not a good sign.

- You try to borrow money from a friend to gamble with.

- You lie about how much you lost, or claim to have won money when you lost it.

If you find yourself doing any of these things, step away from the slot machine or your computer, and talk to someone. Get your obsession under control before it becomes an addiction. You can always do research and check out other tips for online gambling and regular casino gambling.

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Over the last several years slots have been climbing up the ladder in terms of popularity. It used to be that blackjack was the favorite of the casino games, but this is no longer the case.

About a week ago the American Gaming Association released the results of its 2010 “State of the States” survey. This survey is conducted every year to get a view of the overall picture of the casino industry within the United States; it is actually one of the most comprehensive resources on the U.S. casino industry.

This year 59% of casino players surveyed said that they preferred slots games to all the other casino games offered.

This is a key statistic as it helps casino managers decide what to offer. Over the last several years, as the popularity of slots games increased, casinos expanded their slots game offerings.

But this is more than a super nice desire to meet the desires of casino patrons. Casinos use these reports to help determine how best to approach getting their revenues. Since slots games are what is hot right now, casinos are going to expand their slots.

And I am sure casinos have no issues with slots being the most popular casino game right now since slots games bring in more revenue than table games. Last year in Iowa, Colorado and South Dakota alone slots games alone brought in 90% of their revenue. With that much money coming in, casinos are just fine with slots games being the most popular casino game.

Of that 59%, 25% said they prefer playing slots because they are easy to play. Slots do not require strategy or some sort of knowledge of how to play like poker or blackjack does. Going along with that mentality is another 24% who prefer slots because there is less pressure when playing.

Casino managers are taking note of such responses, as are slot machine manufacturers. Manufacturers will be working on creating more machines that are fun and engaging while still being easy to play, and casinos will be adding those machines to their casino floors to further entice players.

In other words, casinos are going to ride the slots popularity trend and milk as much out of it as they can.

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