Crazy Money Slot Machine Las Vegas – An unidentified player hit a nearly $4 million jackpot on the machine at Bellagio. Specifically, the haul was $3,934,609.
The jackpot hit when the player chose from 12 gold coins to match three Explosion Fu Babies symbols in the Gold Fu Babies bonus.
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“We are excited about this huge jackpot awarded on one of our most successful wide-area progressive slot games ever released,” said Melissa Price, Senior Vice President of Global Gaming Operations at Scientific Games. “Congratulations to the player and Bellagio on this important win!”
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Last month, two Las Vegas visitors started their weekends with a bang, thanks to two jackpots, including one for nearly $2 million.
John Katsilometes’ column runs daily in the A section. His “PodKats!” podcast can be found at /podcasts. Contact him at jkatsilometes@. Follow @johnnykats on Twitter, @JohnnyKats1 on Instagram.
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WNBA Finals MVP Chelsea Gray, who scored 20 points in the close victory, led the Aces’ fast breakaway to the stage. Virtually anyone who visits a casino, even for the first time, is familiar with a slot machine and how it works: just insert your money, pull the handle, or press the spin button, and wait a few seconds to see if you win.
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It is not intimidating like table games where you really need some knowledge of the rules before playing and it is this basic simplicity that accounts for much of the success of slot machines in the modern American casino.
In fact, the biggest money maker for casinos is the slot machine with about 65 percent of the average casino’s profit generated by slot machine play. As an example, in Nevada’s fiscal year ending June 30, 2019, the total winnings by all of the state’s casinos was a little over $11.9 billion. Of that amount, $7.80 billion, or slightly more than 65 percent, was from electronic machine profits.
With this in mind, you should ask yourself, “can I really win money playing slot machines?” The answer is a resounding yes… and no. First, the “no” part: in simplest terms, a slot machine makes money for the casino by paying out less money than it takes in.
In some states, such as Nevada and New Jersey, the minimum amount that must be returned is regulated. In Nevada the minimum is 75 percent and in New Jersey it is 83 percent. However, if you look at the lock-in refund percentages for those specific states, you’ll see that the actual average refund percentages are much higher. You can see those statistics here – https:///slot-machine-payback-statistics.html
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In New Jersey it’s actually close to 91 percent and in Nevada it’s about 93 percent. Even though the actual paybacks are higher than what the law requires, you can still see that on average for every $1 you play in an Atlantic City slot machine you will lose 9¢ and in a Las Vegas slot machine you will lose 7¢ . Therefore, it doesn’t take a rocket scientist to see that if you stand in front of a slot machine and keep pumping your money in, you will eventually lose it all. It will take you, on average, longer to lose it in Las Vegas than in Atlantic City, but the result is still the same: you will go broke.
Gee, that sounds pretty depressing, doesn’t it? Well, cheer up because now we’re going to the “yes” part. But, before we talk about that, let’s first try to understand how slot machines work.
All modern slot machines contain a random number generator (RNG) that is used to control the payout percentage for each machine. When a casino orders a slot machine, the manufacturer will have a list of percentage paybacks for each machine and the casino must choose one from that list.
For example, a manufacturer may have 10 chips available for one machine ranging from a high of 98% to as low as 85%. All these chips have been inspected and approved by a gaming commission and the casino is free to choose whatever chip it wants for that particular brand of machine.
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In almost all cases, the casino will place a higher denomination chip into a higher denomination machine. In other words, the penny machines will get the chips programmed to pay back about 85% and the $25 machines will get the chips programmed to pay back about 98%.
A casino can always change the payback percentage, but to do so it usually has to go back to the manufacturer to get a new RNG programmed with the new percentage. For this reason, most casinos rarely change their payback percentages unless there is a major overhaul in their marketing philosophy.
And what exactly is a random number generator? Well, it’s a small computer chip that is constantly working (as the name suggests) to generate number combinations on a random basis. It does this extremely quickly and is capable of producing hundreds of combinations every second.
When you pull the handle, or press the spin button, the RNG stops and the combination it stops at is used to determine where the reels will stop in the pay window. Unlike video poker machines, you have no way of knowing what a slot machine is programmed to pay out just by looking at it. The only way to know is by knowing what is programmed into the RNG.
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As an example of the differences in RNG payout percentages, we’ve listed some statistics on various slot manufacturers’ payout percentages in their slot machines below.
Normally this information is not available to the public, but it is sometimes printed in various gaming industry publications and this is where we found it. The list shows the entire range of percentages that can be programmed in each machine:
Okay, now let’s get back to the “yes” part. Yes, you can win money on slot machines by using a little knowledge, practicing some money management and mostly having a lot of luck.
First the knowledge part. You need to know what kind of player you are and how much risk you are willing to take. Do you want to go for the giant progressive jackpot that can make you a millionaire in an instant or will you be satisfied with just a few dollars ahead?
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An example of a wide-area progressive machine is Nevada’s Megabucks where the jackpot starts at $10 million. These $1 machines are located at more than 125 Nevada casinos in the state and are linked together by a computer. That’s fine if that’s the kind of machine you want to play, but keep in mind that the odds of hitting that big jackpot are pretty astronomical.
Also, the payback percentage is lower on these machines than the average $1 machine. During Nevada’s fiscal year ending June 30, 2019, Megabucks returned an average of a little more than 87% while the typical $1 machine averaged a little less than 94%. So be aware that if you play these machines, you will win fewer small payouts and it will be very difficult to leave as a winner. Unless of course you hit that big one!
If you really like playing the wide area progressive machines, your best bet is probably to set aside a small percentage of your bank account (perhaps 10 to 15 percent) to chase that big jackpot and the rest for the regular machines to save
One other thing you should know about playing these wide-area progressives is that on most of them, including Megabucks, you’ll receive your jackpot in equal payments over a period of years (usually 25). However, you can avoid this by playing at one of the casinos that connect slot machines to their own properties and will pay you in one lump sum. Be sure to check the machine before playing to see how it says you will be paid for the jackpot.
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Knowledge also comes into play when deciding how many coins to bet. You should always check the payout schedule posted on the machine to see if a bonus is paid for playing the maximum number of coins the machine will accept.
For example, if it’s a two-coin machine and the jackpot payout is 500 coins when you bet one coin, but it pays you 1,200 coins when you bet two coins, then that machine is