- Bar Gambling Machines For Sale
- How Online Gambling Works
- How Do Gaming Machines Work
- How Does Online Gambling Work
- Bar Gambling Machines
Gaming machines and the larger gambling industry can be used to assist this process because they are among the only arenas where significant amounts of cash can flow in and out of a premises in a. Introduction to Kentucky Slot Machine Casino Gambling in 2021. Kentucky slot machine casino gambling consists of six parlors offering pari-mutuel-based electronic gaming machines, four of which are at horse racetracks. Get My Free Report Revealing I've dedicated this weekly series to slot enthusiasts such as yourself as you master casino slots and win your way to success by using this. Depending on the machine, the player can insert cash or, in ' ticket-in, ticket-out ' machines, a paper ticket with a barcode, into a designated slot on the machine. The machine is then activated by means of a lever or button (either physical or on a touchscreen), which activates reels that spin and stop to.
Modern slot machines use a computer to generate random numbers, and these determine the outcomes of the game. The important thing to remember is that the results are truly random. The game doesn't work on any kind of cyclical basis, and slot machine jackpots. Find the customer service desk and ask to fill out a Player's Club Card. Slide the card in the special reader slot in the machine. Use the card in every slot machine you play. It will gather points that you can use for free hotel rooms, meals, shopping and even give you.
'Bar Month' at OnMilwaukee.com is back for another round! The whole month of February, we're serving up intoxicatingly fun bars and club articles -- including guides, unique features, drink recipes and more. Grab a designated driver and dive in!
At bars all over the Milwaukee area, patrons sit down, order a drink and take their chances at a video gambling machine.
In just about every bar, you can find one of these machines. And for every machine, there is at least one patron willing to dump in money for hours on end, despite labels proclaiming 'for entertainment use only.'
Many times, though, the label is as decorative as beer advertisements on the wall. The fact is a large percentage of bars offer payouts for gamblers, in direct violation of Wisconsin state statutes.
Under a 1999 agreement that reduced penalties for operating illegal machines, enforcement is now handled solely by the state Department of Revenue, which makes sure bar, restaurant and hotel owners are paying appropriate taxes on revenue generated by machines.
Before then-Gov. Tommy Thompson revised the state law, violators faced felony charges, fines of up to $10,000, loss of liquor license and prison time. The current state law allows bars to have up to five video poker machines and paying out winnings is a civil offense, carrying a $500 fine and no loss of license.
Bars with more than five machines, however, could face criminal charges, according to Department of Revenue Communications Officer Jessica Iverson.
Regulating the machines is big business for the DOR, which has brought in nearly $23 million in taxes since the law went into effect in 2003. Proceeds generated through video gaming machines are taxable income, and the gross receipts are subject to the state's sales tax.
To keep things in check, the department relies heavily on tax audits and also enlists the help of Alcohol and Tobacco Enforcement agents.
'Our ATF agents come across the illegal machines through the course of normal inspection as well as in the course of investigating other tobacco or alcohol law violations,' Iverson says. 'We also, of course, conduct tax audits of businesses. If auditors identify gambling operations during the course of those audits, they will enlist the help of ATF agents to enforce that part of the statute, as well.'
In addition to the tax implications, the Wisconsin statute 945.01 (c) makes it illegal to operate any machine that affords a player to win something of value determined by a game of chance.
The threat of audits, fines and licensing issues aside, bar owners are willing to make the illegal payments because the machines bring in a big chunk of money.
'People sit down when they're bored,' said one bar owner who spoke with OnMilwaukee.com under the condition of anonymity. 'They're more inclined to spend more time and buy more drinks when they're at the machines and have a chance to win some money.
'A lot of people, if there's nobody at the bar, will sit at a machine and make a couple bucks to pass the time.'
At this particular establishment, players receive a ticket when done that they can redeem at the bar for their winnings. The bar owner knows he's taking a chance, but there's big money to be made, especially important in the current economy.
'It's a little bit scary, yeah,' he said. 'But it's a risk you take.'
Earlier in the decade, the Tavern League supported a measure introduced by Rep. Terry Musser (R-River Falls) that would have legalized the machines, generating as much as $380 million in revenue. Other supporters of the bill wanted to prevent Wisconsin Native American tribes, legally operating casinos under a compact with the state, from having a monopoly on gaming.
Some states are reconsidering their stances on video gambling in an effort to patch up growing budget deficits.
In Pennsylvania, Gov. Ed Rendell proposed legalizing some forms of video gambling as a means to fund free college tuitions at the 28 campuses in his state. Officials there estimate that roughly 17,000 video poker machines are operating illegally. Those machines, if legalized, could generate as much as $550 million, according to Gov. Rendell's plan. Roulette win big.
'This is not an expansion of gaming,' Pennsylvania Revenue Secretary Stephen Stelter told The Philadelphia Inquirer earlier this month. 'It is the recognition that video poker is already a thriving industry.'
In a modern casino, you'll see more gambling machines than anything else. The slot machines (or one-armed bandits) are the most profitable game in any casino, and I'll explore the reasons for that in this post.
But slot machines aren't the only gambling machines on the casino floor.
Bar Gambling Machines For Sale
You'll also find video poker machines, which are far superior to slot machines for a number of reasons.
I'll explore those reasons in this post, too.
Here's an explanation of how gambling machines work:
How Slot Machines Work
What makes a slot machine a slot machine?
It's the presence of the spinning reels.
All slot machines are gambling machines, but not all gambling machines are slot machines. The spinning reels are what make the difference.
Traditional real money slots work like this:
You have 3 spinning reels with multiple symbols on them. When you activate the machine by inputting a coin and pulling a lever, the reels spin and land on those symbols at random.
Originally, slot machines were powered by big metal hoops (the reels), springs, and levers. They were entirely mechanical.
Modern slot machines, though, use physical reels that land based on a computer program.
Or they don't use physical reels at all. This is more common than ever. These video slot machines just have animation on a screen, like in a video game, and the results are also powered by a computer program.
This computer program is called a 'random number generator.'
The payouts for the various combinations are determined by the probability of hitting those combinations, but they're almost always lower than the odds of hitting.
For example, if you have a 500 to 1 probability of getting a specific combination, it might only pay off at 400 for 1.
The difference between the actual odds and the payout odds gives the casino a profit in the long run.
This is called 'the house edge,' but most people don't use the expression 'house edge' when discussing gambling machines.
Instead, people talk about the 'payback percentage,' which is the other side of the house edge coin.
Instead of representing the average amount of each bet that's lost over the long run, the payback percentage represents the average amount of each bet that's won over the long run.
A slot machine with a 5% house edge has a 95% payback percentage.
How Online Gambling Works
Over the long run, though, it's impossible to win at slot machines. The math behind the game ensures that.
Most slot machines have a payback percentage of 75% to 95%, but there's no real way to know what a payback percentage is for a modern slot machine game.
You don't know what the odds are for getting specific symbols in any given game—that's determined by the random number generator which determines the results.
How Video Poker Works
Video poker looks a lot like a slot machine, but it doesn't have spinning reels. Instead, you're dealt a 5-card hand on a video screen.
Almost all video poker games are based on 5-card draw, so you get to choose between 1 and 5 cards to discard and replace.
You get paid off on the poker value of the final hand based on the pay table for the game. The jackpot hand is always the royal flush—the 10, jack, queen, king, and ace of the same suit. That only comes up about once every 40,000 hands.
Other game-play elements, like payouts and wild cards, vary wildly from one video poker game to another, but the top hand is almost always the royal flush, and the payoff is almost always 800 for 1 on a 5-coin bet, but less if you bet fewer coins.
This makes the first aspect of video poker strategy easy—you always place the max bet of 5 coins.
There are no advantages to wagering fewer coins, and the lower payout for the top hand changes your expected results more than you probably think.
The Difference Between Video Poker and Slot Machines
The major difference between video poker and slot machines is the difference between reels with arbitrary symbols and arbitrary symbols and a deck of playing cards.
There's no way to calculate the payback percentage of a slot machine, because you have no way of knowing what the probability of getting any of the symbols is.
For example, you might be playing on a slot machine where cherries are programmed to come up 1/8 of the time, but apples might only be programmed to come up 1/16 of the time.
An identical slot machine next to this example machine might have entirely different probabilities programmed in. The cherries might be programmed to come up 1/10 of the time, and the apples to come up 1/32 of the time.
The payback percentage for the game is based on the payouts for the combinations AND the probability of getting each combination.
Without the probability, you can't solve for the payback percentage, which is the 'unknown' in the equation.
But video poker games are different.
The symbols on a video poker machine are based on a deck of playing cards.
How Do Gaming Machines Work
The threat of audits, fines and licensing issues aside, bar owners are willing to make the illegal payments because the machines bring in a big chunk of money.
'People sit down when they're bored,' said one bar owner who spoke with OnMilwaukee.com under the condition of anonymity. 'They're more inclined to spend more time and buy more drinks when they're at the machines and have a chance to win some money.
'A lot of people, if there's nobody at the bar, will sit at a machine and make a couple bucks to pass the time.'
At this particular establishment, players receive a ticket when done that they can redeem at the bar for their winnings. The bar owner knows he's taking a chance, but there's big money to be made, especially important in the current economy.
'It's a little bit scary, yeah,' he said. 'But it's a risk you take.'
Earlier in the decade, the Tavern League supported a measure introduced by Rep. Terry Musser (R-River Falls) that would have legalized the machines, generating as much as $380 million in revenue. Other supporters of the bill wanted to prevent Wisconsin Native American tribes, legally operating casinos under a compact with the state, from having a monopoly on gaming.
Some states are reconsidering their stances on video gambling in an effort to patch up growing budget deficits.
In Pennsylvania, Gov. Ed Rendell proposed legalizing some forms of video gambling as a means to fund free college tuitions at the 28 campuses in his state. Officials there estimate that roughly 17,000 video poker machines are operating illegally. Those machines, if legalized, could generate as much as $550 million, according to Gov. Rendell's plan. Roulette win big.
'This is not an expansion of gaming,' Pennsylvania Revenue Secretary Stephen Stelter told The Philadelphia Inquirer earlier this month. 'It is the recognition that video poker is already a thriving industry.'
In a modern casino, you'll see more gambling machines than anything else. The slot machines (or one-armed bandits) are the most profitable game in any casino, and I'll explore the reasons for that in this post.
But slot machines aren't the only gambling machines on the casino floor.
Bar Gambling Machines For Sale
You'll also find video poker machines, which are far superior to slot machines for a number of reasons.
I'll explore those reasons in this post, too.
Here's an explanation of how gambling machines work:
How Slot Machines Work
What makes a slot machine a slot machine?
It's the presence of the spinning reels.
All slot machines are gambling machines, but not all gambling machines are slot machines. The spinning reels are what make the difference.
Traditional real money slots work like this:
You have 3 spinning reels with multiple symbols on them. When you activate the machine by inputting a coin and pulling a lever, the reels spin and land on those symbols at random.
Originally, slot machines were powered by big metal hoops (the reels), springs, and levers. They were entirely mechanical.
Modern slot machines, though, use physical reels that land based on a computer program.
Or they don't use physical reels at all. This is more common than ever. These video slot machines just have animation on a screen, like in a video game, and the results are also powered by a computer program.
This computer program is called a 'random number generator.'
The payouts for the various combinations are determined by the probability of hitting those combinations, but they're almost always lower than the odds of hitting.
For example, if you have a 500 to 1 probability of getting a specific combination, it might only pay off at 400 for 1.
The difference between the actual odds and the payout odds gives the casino a profit in the long run.
This is called 'the house edge,' but most people don't use the expression 'house edge' when discussing gambling machines.
Instead, people talk about the 'payback percentage,' which is the other side of the house edge coin.
Instead of representing the average amount of each bet that's lost over the long run, the payback percentage represents the average amount of each bet that's won over the long run.
A slot machine with a 5% house edge has a 95% payback percentage.
How Online Gambling Works
Over the long run, though, it's impossible to win at slot machines. The math behind the game ensures that.
Most slot machines have a payback percentage of 75% to 95%, but there's no real way to know what a payback percentage is for a modern slot machine game.
You don't know what the odds are for getting specific symbols in any given game—that's determined by the random number generator which determines the results.
How Video Poker Works
Video poker looks a lot like a slot machine, but it doesn't have spinning reels. Instead, you're dealt a 5-card hand on a video screen.
Almost all video poker games are based on 5-card draw, so you get to choose between 1 and 5 cards to discard and replace.
You get paid off on the poker value of the final hand based on the pay table for the game. The jackpot hand is always the royal flush—the 10, jack, queen, king, and ace of the same suit. That only comes up about once every 40,000 hands.
Other game-play elements, like payouts and wild cards, vary wildly from one video poker game to another, but the top hand is almost always the royal flush, and the payoff is almost always 800 for 1 on a 5-coin bet, but less if you bet fewer coins.
This makes the first aspect of video poker strategy easy—you always place the max bet of 5 coins.
There are no advantages to wagering fewer coins, and the lower payout for the top hand changes your expected results more than you probably think.
The Difference Between Video Poker and Slot Machines
The major difference between video poker and slot machines is the difference between reels with arbitrary symbols and arbitrary symbols and a deck of playing cards.
There's no way to calculate the payback percentage of a slot machine, because you have no way of knowing what the probability of getting any of the symbols is.
For example, you might be playing on a slot machine where cherries are programmed to come up 1/8 of the time, but apples might only be programmed to come up 1/16 of the time.
An identical slot machine next to this example machine might have entirely different probabilities programmed in. The cherries might be programmed to come up 1/10 of the time, and the apples to come up 1/32 of the time.
The payback percentage for the game is based on the payouts for the combinations AND the probability of getting each combination.
Without the probability, you can't solve for the payback percentage, which is the 'unknown' in the equation.
But video poker games are different.
The symbols on a video poker machine are based on a deck of playing cards.
How Do Gaming Machines Work
And if it's a legitimate video poker game, the probabilities for getting each card are identical to the probabilities you'd have in a real card game.
Since you know that a deck of cards consists of 4 suits with 13 ranked cards in each suit, you can calculate any probability you need to related to your results.
With slot machines, there is NO strategy, ever.
The payback percentage on a video poker game is something that can be calculate, and it usually ranges from 95% to 99%.
Keys to Success with Gambling Machines
If you've been paying attention so far, you've probably already figured out the first key to success with gambling machines:
Play video poker instead of slot machines.
Remember how I pointed out that the payback percentage for a slot machine ranges from 75% to 95%?
And the payback percentage for a video poker machine ranges from 95% to 99%?
That was your clue to the first aspect of gambling machine strategy.
Always go for the game with the highest payback percentage and the lowest house edge.
You'll still go broke in the long run if you play long enough, but you'll take longer doing so.
And since the point of casino gambling is entertainment, your goal should be to get the maximum amount of entertainment for your gambling dollar.
The other key to success with gambling machines is to always join the slots club and always play with your casino players club card inserted. As weird as it sounds, casinos want you to use your players card.
The card is meant to track how much money you're gambling so that the casino can reward you (incentivize you) with rebates.
They calculate these rebates based on a percentage of the action you're bringing the casino. This usually amounts to between 0.1% and 0.3% of your action.
That doesn't sound like much until you start doing some of the fancy math that casino experts like to do.
The first thing to do is calculate how much you can expect to lose in the long run on a gambling machine.
Let's take, for example, a Jacks or Better video poker machine with a 99.54% payback percentage. The house edge for that game is 0.46%, which is the amount you're expected to lose in the long run on that game.
How Does Online Gambling Work
If you play a $1 video poker game and make the max bet each hand, you're gambling $5 per hand. If you're an average video poker player, you're playing 600 hands per hour. (It's a fast game.)
Bar Gambling Machines
If you're getting 0.3% of your hourly wagers back in rebates and comps from the casino, you're looking at getting $9/hour back from that $13.80.
How can you turn that down?
Conclusion
Those are the basics of gambling machines and how they work. If you're already a casino customer, you probably already have a preference when it comes to gambling machines.
Do you think your preference might change now?
In other words, if you're a slot machine fanatic, do you think you might be willing to try video poker now?
