Alberta Vlt Payout Percentage
For most casino table games, a straightforward calculation will reveal the House edge—i.e., the amount the casino can be expected to retain out of every dollar played. That advantage ranges from a low of less than one percent on blackjack (when played with the optimum strategy) to 1.41% on Pass/Come bets at the craps table and 5.26% for American roulette.
How to Find the Best Payout Percentages and Other Casino Data. By Ben Hamill - January 02 2016. The question over whether there is a “system” to achieving more and better slots wins is hotly debated. In general, playing slots involves competing at a game that is based on luck, with the results determined by a. Odds and Payout Information Vlt machines in Alberta are programmed to pay out a cumulative average of 92 per cent of all money wagered over all of the machines in the vlt network; the payout rate of 92 per cent is averaged over millions and millions of plays, not one playing session. Wagering and Payouts A common or typical payout percentage for slot machines in Alberta casinos is 92.4 per cent. This means that 92.4 per cent of the money that is wagered is paid back to slot machine players through winning hits; determined over millions of spins. The remaining 7.6 per cent (the house advantage) is kept by the provincial.
Slot machines, however, are an enigma. Without knowing the number of “stops” (resting positions) associated with each symbol on the reel, no such calculations can be made. Even then, the payouts are complicated by the number and frequency of bonus games and multipliers built into the pay tables for maximum bets. Therefore, the most accurate indicator of how much of every wagered dollar the casino expects to keep can only be found in “slots payback percentages.”
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Payback Is Predetermined
The payback percentage of any given slot machine is the total amount of cash it has paid out divided by the total amount of cash accepted by that machine over a specified period of time, i.e. the ratio of winnings to wagers. If a player bets $1 on each spin for 100 spins and ends up with $97, then the payout is 97:100 or 97%. That’s equivalent to a House edge of 3.0%, which is referred to in slots play as the “hold percentage.”
For each machine, the payback percentage will vary somewhat from hour to hour or day to day, but over the lifetime of the machine it will approach a specific number that was incorporated into its programming at the factory. In fact, casinos select the targeted payback/hold percentages when they order the units from the manufacturer, so the numbers are by no means arbitrary.
Nor do the casinos and manufacturers have unlimited freedom to choose any payback percentage they like. To protect consumers, a minimum threshold is fixed by law. The percentage may not fall below whatever standards have been set by the local regulatory authority. In some jurisdictions, the minimum may be as low as 75%. Typically, there is no maximum limit, but in order for the slot operator to make a profit, the targeted percentage must obviously be less than 100%.
Legal payback percentages are not based on averages, either. Most jurisdictions are like Nevada, where the Gaming Control Board requires that each and every machine in the state must meet minimum payback percentages. The payouts are monitored so that any noncompliant machines can be removed from play and recalibrated. This serves two purposes: protecting players from an unfair House edge and ensuring that the casino earns a predictable income.
Playing by the Percentages
Most slot operators realize that it is to their advantage to offer slots with payout ratios well above the minimum required by law. Market economics is the key determinant. With a payback percentage close to 99%, the casino’s margin is tiny, but volume will be high because players will risk and bet much more money. Conversely, when the payback percentage is low, the profit per wager may be higher, but the volume of play will drop as soon as players figure out how difficult it is to win. They will start taking their business elsewhere.
That means the challenge faced by every casino is how to set the slot payback percentages for optimum profitability. The point of equilibrium may be very elastic—anywhere between 80% and 95%, as a rule. The problem for players, of course, is that the casinos do not make this information readily available. At best, they publish a monthly “average,” including the payback rates of all machines in a single figure. Customers have to discover on their own which slots are “loose” (high payback percentages) and which ones are “tight” (low percentages).
It is worth noting that online slots typically offer higher payback percentages than those found in land-based casinos. That’s because they have less overhead and more competition. Also, slots located in rather isolated areas, such as on Native American Indian reservations, may have much lower payback percentages, owing to the lack of local competition. It certainly pays to shop around and seek out the loosest games available.
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An Alberta man is fighting a $10 million lawsuit from an American gaming company after he says he blew the whistle on casino video slot machines that he alleges could be made to pay out on demand.
Zues Yaghi, an Edmonton resident,said he has been the subject of a search warrant, a gag order and a lawsuit from WMS Gaming Inc. for reporting the flaws in its poker machines, which the company has since fixed. WMS Gaming has its headquarters in Waukegan, Ill.
Yaghi said this week that the gambling public has a right to know whether the software running on the machines have 'back doors,' which would make them vulnerable to hackers, or contain 'Easter eggs,'hidden bits of coding that could give some gamblers an advantage.
When he first discovered the design flaws, he said, he was appalled.
'I was angry. The first thing I was thinking, someone here should be shot for this,' he said. 'That's what I thought. You know, somebody's slipping aces.'
In 1999, Yaghi went to the Alberta Gaming and Liquor Commission to report the flaw, saying he found evidence ofa secret door that had been written into the computer software to allow players of casino video slot machines to collect jackpots with afew simple clicks.
Yaghi demonstrated to the commission how he could play the video slot machines and win. He said he wanted to be hired to help the commission fix the problem.
But instead of being offered a jobor at least thanked for being a good citizen, Yaghi was served with a rare form of citizen search warrant by WMS Gaming, whose officials came to his door in February 2000.
'Big fat warrant'
Alberta Vlt Payout Percentages
'Knock on the door and I look and there's a nice collection of people that I haven't seen before and they have a big fat warrant to enter my premises,' he said.
'It didn't have a time limit on it. It just allowedthem to search and seize whatever they wanted which was relevant, or could be relevant to WMS. For three days, they were coming back and forth.'
A few days later, the company obtained a gag order that prevented Yaghi from telling anyone how a player could get the slots to pay out. And it filed a $10 million lawsuit.
WMS Gaming officials will not speak aboutthe lawsuit. But according to court documents, the company said it offered Yaghi $50,000 as a reward and an incentive for him to keep quiet. The company alleges in the documents that Yaghi asked for more money and refused to be silent.
According toits annual report in 2001, WMS Gaming reprogrammed its software to correct the problem that Yaghi found.That didn't stop U.S. regulators from fining the company for failure to notify them about the problem.
What Is Vlt Percentage
The company has made peace with state and provincial gaming authorities, including Alberta, by paying millions in compensation for lost revenue.
It denies that any programmer deliberately designed a game that could cash out on demand. And its lawsuit against Yaghi continues in the courts.
WMS Gaming, a subsidiary of WMS Industries Inc., designs, manufactures and markets video and reel-spinning gaming devices and video lottery terminals.
Alberta Vlt Payout Percentage
It started out in the video lottery terminal business in 1991. The company created, manufactured and placed VLTs in jurisdictions throughout North America. Once established in the video lottery market,it moved into the casino gaming business with the introduction of a video poker game. A year later, the company rolled out a line of upright slot machines.