The house always wins, but some games win the house more than others.
Everyone who bets understands that the house has an advantage in every game. You don’t build mega-casinos like the ones up and down the Las Vegas strip losing money.
Slots, however, may be the game consumers least understand. First, it’s important to know that Caesars Entertainment (CZR) – Get a free reportMGM Resorts International (MGM) – Get a free reportWynn Resorts (WYNN) – Get a free reportand other Las Vegas casino operators have a say in slot payouts, but they’re also heavily regulated.
“Nevada State Gaming Regulation 14 states that the minimum theoretical payout for gaming devices ‘shall not be less than 75% for each wager available for play on the device.'” slot teacher informed.
That’s the floor, but in reality, most slots pay much more than that. A payout rate of over 90% is not uncommon in Las Vegas and on the Las Vegas Strip, but there are important caveats to remember. Payouts are made on all machines in a casino and represent huge jackpots.
So you may be at a casino that pays out 92% of all money wagered on their slots, but that doesn’t mean you’ll receive $0.92 for every dollar wagered. However, it’s important to know a few numbers before sitting down at a Caesars or MGM property on the Strip or venturing downtown (where, anecdotally, the slots have always been thought to be more flexible).
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Casinos really want winners
People winning in a casino create excitement. The noise level goes up and other people playing the game believe that it is possible to win. And realistically, casino operators know that they are making a profit one way or another, it makes sense to make sure that some people get bigger prizes while others have smaller wins that keep them engaged.
However, Las Vegas slots became a bit stricter in 2022 compared to the previous year, according to data analysis by the Las Vegas Review Magazine. That analysis can show potential players which machines to play for the best returns.
“Like last year, it’s the nickel slots, which had a 5.09% house win percentage, or a 94.91% player win percentage,” the newspaper shared.
It is important to understand what those numbers mean. Numbers are based on overall returns. Therefore, jackpots and other winnings will return approximately 95% of the money wagered on those slots. You can sit down and lose all the money you bet quickly (or you can be a winner).
These are the best Las Vegas slot machines to play
While nickel slots have the highest payout rate, they are also very rare. Caesars, MGM, Wynn and other Las Vegas Strip casino operators have largely phased out nickel slots. Only about 1,000 nickel machines are still in operation and you’re more likely to find one if you head downtown to Fremont Street.
However, if you want the next best odds, you better have a big budget.
“Other games that give players a statistical advantage: $5 slots, which gave casinos a 5.46% win percentage in 2022 compared to 5.48% in 2021; $25 slot , which made 5.86% of money last year, but only 5.71% for the same period last year; and multi-denomination machines registered 6.13% in 2022, but 5.87% in 2021 the newspaper reported.
In reality, all of these percentages are very close and players will not notice the difference when playing machines of different denominations. However, penny slots, the most common denomination for slot machines both on the Strip and downtown, have the worst odds for players.
“The machines that get the most out of players are the ubiquitous penny slots, which raked in 9.81% in 2022 compared to 9.85% in 2021,” the Review-Journal reported.
