Slot machine structural characteristics: Distorted player views of payback percentages
Keywords:slot machine, probability, randomness, virtual reels, gaming regulations, problem gambling
This paper presents a sample three-reel three-coin slot machine game with a bonus for three coins, and a true payback percentage of 85.6% when one or two coins are wagered and 92.5% when three coins are wagered. The player sees the winning or losing combination of three symbols on the payline as well as (a) the physical reels as they scroll by and (b) what is just above and just below the payline at the end of play. An analysis of this game shows that observing the physical reels and what is just above and just below the payline indicates that the slot machine would lose money, and thus the player would make money, as the game would have a payback percentage in the range of 192%-486% if this reflected reality. The paper concludes by discussing the results of the analysis in terms of gaming regulations and problem gambling.
Journal Contributors Agreement
This work is licensed under a Creative Commons Attribution-NoDerivatives 4.0 International License.
The parties intending to be legally bound (the principal author [Author] and the Journal of Gambling Issues [Publisher]), agree as follows:
1. The Author grants exclusively to the Publisher all world-wide rights in this Contribution; including the full copyright therein, the right to publish it as part of the JGI in all forms, languages and media now or hereafter known or developed and including, but not limited to, the right to license subsidiary rights such as granting rights to reprint in anthologies issued by other publishers or to photocopy for classroom use.
2. The Author guarantees that he or she is the sole owner of the Contribution and has full authority to make this agreement; and that the Contribution does not contain any copyright; does not violate any other property rights; does not contain any scandalous, libelous or unlawful matter; does not make any improper invasion of the privacy of another person; and has not been published before, and is not now being considered for publication elsewhere.
If the Contribution has been published previously, the Author guarantees that permission has been obtained, and any fee required has been paid, for publication in the JGI and shall submit proof of such permission and any required credit line to the Publisher with the signed agreement. The Author agrees to indemnify and hold harmless the Publisher against any claim or proceeding undertaken on any of the aforementioned grounds.
3. The Author shall allow the Editor of the JGI and the Publisher to make the Contribution conform to the style of presentation, spelling, capitalization, punctuation and usage followed by the JGI. The Author agrees to review and correct the copyedited manuscript and proofs and to return them to the editor by the date set by the Editor. If the Editor has not received them by that time, the Author agrees that production of the JGI in which the Contribution is to be included may proceed without waiting for the Author's approval of the manuscript or the proofs.
4. If the Author wishes to publish this Contribution elsewhere, the Publisher shall grant to the Author, for no fee, a nonexclusive License to republish the Contribution in the same form in any language in a book or other media written or edited by the Author after the issue of the JGI containing the Contribution has been published, subject only to the conditions that a credit line, to be supplied by the Publisher, will be printed in the Author's book: to indicate the first publication of the Contribution in the JGI. The Author shall inform the Publisher 30 days before the Contribution is released in any other form.
5. This agreement shall be construed and interpreted through the laws of the province of Ontario, Canada. This agreement shall be binding upon and operate to the benefit of the parties thereto, their heirs, successors, assigns, and personal representatives. Where the Contribution is the product of more than one person, all of the obligations of the Author hereby created shall be deemed to be the joint and several obligations of all such persons as testified by their signatures.
6. The Author shall receive no payment from the Publisher for use of the Contribution.
7. The Author agrees to reference this article using its full and accurate name: Journal of Gambling Issues.