Take any game in the casino and you will find a playing strategy associated with it. Most strategies are pretty specific—always double down on 11 and so forth. Slot machines, since they are less interactive, have playing strategies more designed towards money management. As far as playing strategy - when it comes to slots - you either decide to put your money in or you don’t. That’s pretty much the only factor the player has on the outcome of the game. Therefore, slot players should pay close attention to money management and payback percentages. Today, we are going to look at one main money management strategy for playing slot machines. Online slot strategies can vary from land based strategies, so please read the online slots review section to learn more about online slot machines.
One Cycle at a Time
When you see payback percentages advertised on the slot machines, they refer to the long-term output (hundreds of thousands of spins). Many slot players misinterpret the payback percentage by assuming a slot machine will always abide by the payback percentage at all times. Slots are known to go through hot and cold streaks. What’s more important is the fact that the payback percentages are not based on the amount of money you start with, but the overall playing cycles on the machine.
Let’s imagine that you are playing a machine that costs $5 per spin and has a payback percentage of 97%, which is a guaranteed constant (there’s no such machine, but this is a hypothetical example to stress a point). You decide to start with $100. After 20 spins you might still have money left, but you have played $100 and thus one play-through or “cycle” has been completed. In our example, going by the payout percentage, you would have $97 left. Many players think the payback percentages are based on the amount of money put in, but it’s the amount of money played. Your $100 might get you hundreds of dollars in action - several play-through cycles. Now that you understand this concept, let’s go through the steps of this simple strategy.
- Step One: Pick a machine and decide on a bankroll. For my example, we will use a $100 bankroll.
- Step Two: Play $100 in action and see where you stand. If you are ahead, take out your profit and pocket it. Don’t use it for this playing session. If you are down, calculate a percentage of how much you are down.
- Step Three: Decide what to do next. If you are ahead, you most likely will want to continue playing the machine. Start back at step number one and proceed. Should you be down 30% or more of your money, it might be best to take your money to a new machine. Proceed to step number one. Anything less than a 30% loss would be considered average to cool for a single machine.
By following this easy money management strategy, you will learn to do a few important things. First, you will learn to take your profits off the floor and go home with them. Second, you will learn to not chase losses. Slot machines can go “cold” for tens of thousands of spins. Don’t be afraid to move to another machine. Read our article about how slot machines work to see why moving is not a bad thing.
Visit Slot Machine Fan for more helpful slot machines strategies. The Fan offers an in depth look into slot machines with lots of helpful tips and betting advice.
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