Understanding average payout. When casinos advertise that their slot machines pay out an average of 90 percent, the fine print they don’t want you to read says that you lose 10 cents from each dollar you put into the machines in the long term. Slot Machines with the Best Odds of Winning. The RTP percentages of slot machines show how much will be paid out to you should you win the best slot machines jackpot. The slot machine payback percentages are also referred to as the Return to Player (RTP) rate. Casinos usually publish this statistic on their sites.
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.
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.
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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.
https://rewardlucky.netlify.app/bethard-casino-no-deposit-bonus.html. 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.
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. Bad mouthing slot machine.
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.
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.
If you open the site of any real money online casino, you are likely to see hundreds of slots. That’s the most popular category of casino games, so all operators are doing their best to add more and more titles that vary in terms of gameplay, themes, and many other factors.
Picking a slot game that’s fun to play and looks good is important, of course, but many players ignore another crucial aspect. Each game comes with a different Return to Player, or RTP percentage. That number determines what percentage of the wagers is returned as prizes. The higher it is, the most generous a slot machine is.
If you want to improve your chances to win, as well as increase the value of all bonuses and promotions you are clearing, you should stick to the high RTP slots at online casinos. They can be a bit hard to find, so I decided to give you a hand.
I have assembled a list of some of the highest payout slot machines in 2020. These high paying online slots have the lowest house edge possible and reward players handsomely. Let’s take a look.
Good Girl, Bad Girl – Highest Payout Slot for US Players
- Theme: Angels and devils
- Sub-Category: Video slots, Progressive slots
- Developer: Betsoft
- Casino: Wild Casino
- RTP: 97.79%
Let’s begin the list of highest payout online slots with Good Girl, Bad Girl. The game was produced by Betsoft and comes with the exceptional RTP of almost 98%. In comparison, most slots out there only return about 92-93% of the wagers, and 95% is considered decent.
The high RTP is not the only advantage of Good Girl, Bad Girl. The game features various mechanics like wilds, scatters, free spins, and even a progressive jackpot.
If you add the nice graphics and animations, it’s easy to see why I decided to include this title. The best news is that Good Girl, Bad Girl is available at Wild Casino, which makes it one of the highest paying slots for US players in 2020.
You can join the casino and see for yourself right now.
Cleopatra’s Gold – One of the Highest Paying Mobile Slots
- Theme: Ancient Egypt
- Sub-Category: Video slots, Progressive slots
- Developer: Realtime Gaming
- Casino: Bovada Casino
- RTP: 95-97.5%
Another excellent option for people looking for the highest paying slot machines in 2020 is Cleopatra’s Gold. The game was developed by Realtime Gaming and has a classic Ancient Egypt theme revolving around the famous Cleopatra.
The return to player can reach 97.5%, which beats almost any other real money slot in terms of generosity. Cleopatra’s Gold is fun to play, too, as it includes wilds, scatters, free spins, and a progressive jackpot.
While the graphics are not the prettiest compared to some other top mobile slots, this is one of the slots with the best payouts available on the go, so I can live with that.
If you can too, you should try Cleopatra’s Gold at Bovada Casino, which is open to players from various countries, including the USA.
Dr Watts Up Slot – Entertaining With High RTP
- Theme: Nutty doctor
- Sub-Category: Video slots
- Developer: Microgaming
- Casino: Betway Casino
- RTP: 97.05%
What Slot Machines Have The Best Payouts
If you want to combine fun with high payouts, you should most certainly try Dr Watts Up. This Microgaming game returns 97.05% of all bets to the players in the form of rewards and provides endless entertainment through the bonus games and special symbols included.
There are also multipliers and free spins, a large jackpot that could go up to 48,000 coins, and a lot more to experience. Dr Watts Up comes with flexible limits, so it’s a good choice for all kinds of players.
You can find the game in plenty of online casinos, but I recommend you pick Betway Casino. It’s one of the best out there in terms of games, bonuses, and player safety.
Pay Dirt – High Payout Slot With Low Stakes
- Theme: The Gold Rush
- Sub-Category: Video slots, Progressive slots
- Developer: Realtime Gaming
- Casino: El Royale Casino
- RTP: 95-97.5%
Some people think that the highest payout slots online require large bets. That’s not really the case, as many games with at least solid RTP work with small stakes, and Pay Dirt is the best example among them.
This Realtime Gaming product is available to everyone because the lowest coin value is $0.01, and there are only 25 paylines. That means you can cover them all with a stake of $0.25 or even go for one only for $0.01, which is pretty much as low as it gets for video slots in 2020.
A bankroll of 10 or 20 bucks will be more than enough to enjoy Pay Dirt. The slot has a progressive jackpot, free spins feature, wilds, and scatters, so it provides plenty of exciting moments, too.
You can see for yourself by joining El Royale Casino, one of the best online that offer Pay Dirt in 2020.
Inferno Star – One of the Highest Paying Classic Slots
- Theme: Fruit
- Sub-Category: Classic slots
- Developer: Play’n GO
- Casino: Playamo Casino
- RTP: 96%
If you are looking for a classic slot that pays well and uses a simple gameplay system, Inferno Star is one of your best options. The game has only five reels and paylines and no side games, allowing you to focus solely on the reels.
The old-school sensation is completed by the fruit symbols, and there are some nice additions like re-spins, wilds, and scatters for additional fun.
If that sounds like a good slot for you, Playamo Casino is the best play to try it out in 2020.
At the Copa – High Payout Progressive Slot
- Theme: Night Clubs
- Sub-Category: Video slots, Progressive slots
- Developer: Betsoft
- Casino: BetOnline Casino
- RTP: 97.5%
Most progressive slots out there don’t come with a good return, but there are exceptions. One of the best of them is At the Copa. Betsoft’s game has an astonishing 97.5% RTP, which makes it the perfect choice for those who want to go after life-changing jackpots without losing too much in the process.
The design and symbols are also really enjoyable, and the betting limits are flexible. You can start low and go all the way up to $150 per spin. If you add the bonus game, the wilds, and the free spins feature, it’s easy to see why At the Copa is one of my picks for the highest payout slots online.
One of the best places to enjoy the game is BetOnline Casino because of their awesome promotions and a good variety of quality games.
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Find the Best Paying Slots Online
Best Slot Machine To Play
If you reached this post, I’m sure that you are one of the players looking for the highest paying slot machines online. My recommended game options are solid, and the casinos I’ve suggested all have plenty of games with a high RTP.
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If you want to explore some other options, you can find some of them on our page dedicated to the best payout gambling sites. There are plenty of casinos there, but also other gambling platforms that are worth your attention.