Ever since Charles Fey invented the first ever slot machine, this simple premise of a matching symbols game has become one of the most popular forms of gambling of all time. Nowadays, revenue from slots makes up between 70 and 80 percent of many casinos total revenue and for some, it may even be a higher percentage than this.
With millions of spins played out across the world each, what is it that makes slot machines so popular with punters in general?
This is an important question as at first glance, there doesn't seem to be an awful lot about slot machines that would appeal to the serious punter. The first issue is of course, the house edge and in general, slot machines don't offer punters a great return. Although the house edge on slots can vary greatly, even the most generous to players still have a house edge of between three and seven percent.
Most slots however tend to have a house edge of between 5 and 10 percent, with some even having a house edge of up to 25 percent.
What this means is that on the face of it, slots don't offer players the best odds when it comes to seeking a return on the money they invest in the game.
Are players aware of this? Well, whether they are or not is open to debate, but any serious punter would always take a look at the payout rates for any game they play. It is therefore fair to assume that even the sporadic punter will likely know that slots are not as potentially profitable in the longer term as games such as blackjack, video poker or perhaps even roulette.
So slots may not be the most profitable game to play, but then there is another seemingly fatal blow dealt to its chances of popularity. That is that punters can't even employ a strategy to help them win at the games as every slot spin is 100 percent random.
This is unlike games like blackjack where if a player plays using an accepted strategy, they can give themselves a better chance of winning money in the longer term.
What this means is that if you view it under these terms alone, slots don't offer as much of a chance of you earning a return on your money as some other casino games. Therefore you must ask the question why are they so popular?
And part of the answer of that question is that some of the things that many punters hold against slots as a negative, are seen by others as a positive.
Let's take the example of there being no effective strategy to win at slots. Most serious punters will tell you that a game without strategy that is entirely reliant on chance, is not a profitable way to bet.
However, the flip side of that argument is that a game that requires no strategy, is often much, much easier to play than a game that requires you to learn all the subtle nuances to play the game effectively.
This last point is undeniably crucial because it should always be remembered that slots are used by the vast majority of people as a social outlet; a chance for them to enjoy a little down time and relax. Most people do not want to have to learn an often complex strategy to play a game more profitably; they simply want a game that is quick, fun and easy to play and what is simpler than entering your money into a virtual slot and hitting the spin button?
It is this accessibility that is immediate and easily understood which is the first foundation upon which a slot machine's appeal is built. The beauty of any slot is that you know that all you have to do is hit the spin button to play; no additional skills or knowledge are required.
However, for slots to be almost universally popular, there has to be more to them than simply appeal based on how easy they are to play and understand and the lack of strategy required.
Another key point which makes slot so appealing to customers is the size of the jackpots available and how anybody can win one, regardless of how much they play the slots, or how much they have wagered on the game in question.
Take poker for example, if you are going to win a big multi-table tournament in poker then you are extremely unlikely to do so through pure luck alone. Poker is a game of strategy and often very complex strategy and psychology. The great tournament poker players know this and have a deep understanding of this which makes them very difficult players to beat. Hence, your chances of winning a poker tournament with a $100 entry as a complete beginner is almost non-existent.
However, if you decide to wager that same money on a slot, then it is down to pure luck as to whether you will win or not. For many punters, that represents a better chance on their investment than entering a poker or blackjack tournament or similar.
One of the most important factors in slot popularity however has been the size of the jackpot prize and in particular, the progressive jackpot game.
Now that slots use random number generators to determine each spin, the sheer number of potential outcomes is much greater and as such, companies can offer larger jackpots. Many games now offer jackpots of over 100,000 coins, some offer more than 1,000,000 coins. When you consider one coin could have the value of from 0.01 up to 1.00 or more, that is a considerable sized win.
Progressive slots however have raised the bar even further. These hugely popular games offer the typical game jackpots, but also an additional progressive jackpot which grows over time the more people play the slot. Some of these progressive jackpot games can have millions available to be won at any time.
This is another appealing aspect to the slot player as these jackpot wins, although won infrequently, do offer the potential to win a life-changing amount of money without any skill or strategy required. Simply hit the right combination at the right time and you could be walking away with more money than you ever imagined.
So we've established that the lure of slots is that they are fun, fast, easy to play and understand and that serious amounts of money can be won playing them. Perhaps the final part of the jigsaw is that slots are also extremely versatile.
If you visit any top quality casino you'll see a large number of slots and you'll find a slot for almost every subject you could think of. Whether it's Sushi, bank robbers, Pharaohs Nordic Gods or the latest TV or Film tie in, you are likely to find a slot or two that will appeal to you.
In the end, the fact that slots may not offer players a great chance of success doesn't really matter. Most players play for the enjoyment of playing and on that score alone, slots have always been a winner. This combined with all the other factors we've mentioned explains why they remain the casinos biggest and most important form of entertainment.
If you are interested in early slot machines, read the article When were the most popular online slot machine features developed and on that page you can also watch a video of Charles Fey's grandson's fantastic slot machine collection.
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