Slot machines (Full Version)

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Master96 -> Slot machines (1/21/2008 5:23:55 AM)

Hi,

There is a question of its answer I can't find! Or maybe I'm not asking it right [&:]

When does the casino collect the money inside a slot machine? I mean if they did it last night, then I come this morning and try my luck. And let us say I win on my first try.... what would be my prize? Only the coin I put?! I assume If I'm a winner I got all the coins inside the slot machine. What if it was empty? And I'm the fist one to use it?

I hope you can understand my question here...... thanx :)



eyesopened -> RE: Slot machines (1/21/2008 5:40:33 AM)

A slot machine is required to have enough coins to pay its jackpot.  Some casinos may use a hand pay meaning that the jackpot is paid at the cashier window rather than by the machine itself.  It is no different than a retail establishment keeping enough money in the cash drawer to make change even when they initial open for the day.

From Wikipedia:

Hand pay refers to a payout made by a slot attendant or cage, rather than the slot machine. A hand pay occurs when the amount of the payout exceeds the maximum amount that was preset by the slot machine's operator. Usually, the maximum amount is set at the level where the operator must begin to deduct taxes. A hand pay could also be necessary as a result of a short pay.

Short pay refers to a partial payout made by a slot machine, which is less than the amount due to the player. This occurs if the coin hopper has been depleted as a result of making earlier payouts to players. The remaining amount due to the player is either paid as a hand pay or an attendant will come and re-fill the machine.



Asherdelampyr -> RE: Slot machines (1/21/2008 5:42:09 AM)

A friend of mine actually works on slot machines, and this is what he told me:
This works one of two ways
1) Some machines are actually linked together (think the cool tubes at the bank's drive thru window) So they never need to physically collect anything
2) They collect the monies that goes int a special "overflow" container, so the machines always have monies! (Usually twice the largest possible winning)



Master96 -> RE: Slot machines (1/21/2008 5:47:39 AM)

Thanks guys.....

Just to be sure I got this. No matter who the winner is, and no matter how many times s/he plays; the winner will get the same amount of money? Or not?

Thanks :)



pahunkboy -> RE: Slot machines (1/21/2008 5:50:52 AM)

Hey OP, GREAT question!!  keep em coming.



eyesopened -> RE: Slot machines (1/21/2008 5:51:03 AM)

i can't answer for every casino but in Nevada, gaming is heavily regulated and machines must pay the amount indicated regardless of how often.  How 'loose' a slot is set (loose refers to better odds for the player) or how tight is regulated by the State Gaming Commission.



Master96 -> RE: Slot machines (1/21/2008 5:52:23 AM)


quote:

ORIGINAL: pahunkboy

Hey OP, GREAT question!! keep em coming.


Oh.. sure [:D]



Asherdelampyr -> RE: Slot machines (1/21/2008 5:53:03 AM)

You win monies based on odds... Since, mathematically speaking the odds are reset with every play/hand, the payout is the same no matter how many times you win



Master96 -> RE: Slot machines (1/21/2008 6:02:11 AM)

So it would be pointless to pay $7000 on playing with a slot machine; while the amount indicated is $5000, if you win! Could such scenario occurs in some casinos?



pahunkboy -> RE: Slot machines (1/21/2008 6:16:41 AM)

http://ezinearticles.com/?The-MIT-Blackjack-Team-Story&id=8495

the MIT black jack team were brilliant.   eventually they were caught... lol



Alumbrado -> RE: Slot machines (1/21/2008 6:38:30 AM)

quote:

ORIGINAL: Master96

So it would be pointless to pay $7000 on playing with a slot machine; while the amount indicated is $5000, if you win! Could such scenario occurs in some casinos?


It occurs often enough that casinos can afford to comp steak, lobster, shows, rooms, etc. and still reap obscene profits...[:D]



eyesopened -> RE: Slot machines (1/21/2008 8:22:15 AM)

quote:

ORIGINAL: Alumbrado

quote:

ORIGINAL: Master96

So it would be pointless to pay $7000 on playing with a slot machine; while the amount indicated is $5000, if you win! Could such scenario occurs in some casinos?


It occurs often enough that casinos can afford to comp steak, lobster, shows, rooms, etc. and still reap obscene profits...[:D]


It occurs often enough, that there is no state income tax in the state of Nevada.  When my friends used to visit me when i lived there, they always wanted to go to the casinos and i would thank them profusely for paying my taxes for me LOL.  The odds are always with the house.  And its called "gaming" not "winning" for a reason.



kittinSol -> RE: Slot machines (1/21/2008 8:24:17 AM)

Slut machines.



AMaster -> RE: Slot machines (1/21/2008 8:47:15 AM)

First, the money is collected quite often.  When the money is taken out has no affect on your odds of winning. Here in Vegas, very few casinos pay out in cash. You get a silly piece of paper which you cash in.   Is that what you were asking?



domahpet -> RE: Slot machines (1/21/2008 9:15:13 AM)

where i live the machines are emptied around 2-3am.
when you win a ticket is printed and you go to the window to get paid
no cash ever comes out of the machines.



faerytattoodgirl -> RE: Slot machines (1/21/2008 9:23:35 AM)

they are constantly changed 24-7 ..the machines red light goes on when the machine is empty and they have to come and put a new bag of coins in.

our jackpots here are paid by an attendant in cash or you have to go get a check if its too much $$$ but the jackpots that are like $1000 or less paid by attendant.
usually you have to sit and weight about 30 mins for the attendant when your machine goes off.



farglebargle -> RE: Slot machines (1/21/2008 12:34:56 PM)

Isn't all this academic now with the proliferation of electronically operated "Affinity Cards" based play?

You have 100 bucks on your card, you play a machine, it pays off and just applies the credits to your card.




farglebargle -> RE: Slot machines (1/21/2008 12:36:29 PM)

quote:

ORIGINAL: Master96

So it would be pointless to pay $7000 on playing with a slot machine; while the amount indicated is $5000, if you win! Could such scenario occurs in some casinos?


Well, there's a $2000.00 difference.

Did you have $2000.00 worth of fun?

If I stand around a craps table for 2 hours, and drop 50 bucks, did I get 25$/hour in entertainment value for my expense is the question to always keep in mind. When the cost of the entertainment exceeds your own subjective valuation, then you're not spending the money wisely. Go see a movie, instead, if that's what you like...




DomKen -> RE: Slot machines (1/21/2008 3:14:07 PM)

I go to Vegas with a set amount of money to lose. Usually about $100 day. When I'm in the casino my CC's are locked up in my room. I always get the casino's comp card and always use it for my betting. I play blackjack and video poker. I chrun my loss enough that when I redeem the comp points its usually enough for a good meal and occasionally I hit a big jackpot at poker and walk away with a net win.

However I don't try and make money in Vegas I'm losing what I can afford to lose and spend about the same amount on vacation anyway so it is all relative. If I wasn't getting the comp points I doubt I would gamble at all. Then the only attraction to Vegas would be Penn and Teller.



proudsub -> RE: Slot machines (1/21/2008 3:43:20 PM)

Before most casinos went to paper tickets the machines would run out of coins frequently.  When that happened the light came on and you had to sit there forever waiting for someone to come see what the problem was and then go back and get the coins to fill the machine. Once filled the rest of your coins would come out.  I hated it when that happened and i had to wait forever to collect a few dollars.  Larger wins were almost always hand paid (more waiting) so that you didn't have to carry around tons of buckets of coins. I much prefer the tickets.



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