Are loose slot machines real, or just false rumors spread by casinos?
There are generally two types of regular slot machine players. There are those that believe in loose slot machines, and those that do not. The believers have all sorts of tricks and techniques they use to find the loosest slots, while the non-believers simply pick an open machine away from the crowds and start playing.
As for new players, I’ve heard the question many times before. Are loose slots real, or just a myth? Are they just a wild rumor started by the casinos to get more people to spend their money?
The good news is that, yes, loose casino slots do exist. The bad news, however, is that most of the people asking the question have an erroneous perception of what a loose game will do for their bankroll.
What are Loose Slot Machines?
To put it as simply as possible, a loose slot is one that’s going to pay out at a higher rate than a standard, low-paying slot machine. This does not mean that the game will pay out more money than it takes in, or a break-even amount.
Every slot machine is pre-programmed with what’s known as an RTP, or Return to Player. This determines the amount the machine will payback, on average, in the long term. 98% is a very high (loose) RTP for any slot machine, and definitely worth playing.
Casinos can’t lie about the RTP, either. That would be a breech of strict regulatory codes, and could cost them millions in penalties. So if you see it, it’s true. And only the loosest slot machines are likely to display their RTP. After all, a game that advertises 92% isn’t going to draw any players with knowledge of RTPs.
Misconceptions about Loose Slots
The most common misconception among players is that a loose casino slot is going to award a big profit if you just keep playing. Could it happen? Yes. Is it likely? No. Even with a loose 98% RTP, the player has to understand that the odds are still against them.
Which brings us to another sore subject that’s often misconceived. When a game carries a 98% RTP, players tend to think that they’ll only lose $2 for every $100 they play. This is very rarely the case. Yes, the machine is programmed to pay $98 per $100, but that’s over time. There’s going to be a large scale fluctuation.
RTPs are only averages, and they can take a very long time to even out. We’re talking about 20 to 30 years worth of play to reach that exact mark. And if there are large jackpot prizes, or huge progressive jackpots in the mix, each time those are struck, it’s going to take a lot of losing players (over time) to make up for that margin.
If you’re not one of the lucky ones who hits a big payout, you’re going to be among the much larger group of players who lose more than 98% of their investment.
I’m not trying to discourage you from playing slot machines. They do create winners every day, and the higher the RTP is, the better your chance of being among them. So long as you understand the truth behind these machines, you’ll be able to play with confidence, setting realistic and responsible goals that won’t land you in debt.