Slots Odds, Winning Probabilities and House Edge
If you’ve experienced any form of online gambling, you’re probably aware the odds are always stacked against you. The house will always have an advantage no matter what game you play. That advantage differs depending on the type of game you play, with slot machines offering some of the worst odds of them all. However, that does not mean you’re guaranteed to lose. Different slots offer different slot machine odds, have a lower house edge, and could pay out more than others.
An Introduction to Slot Machines
Slot machines have existed for over a hundred years but first became prominent in the 80s and 90s. It is easy to see why these games have become so popular in land-based and online casinos.
There is no learning curve. Anyone can play without understanding complex rules, bet types, or etiquette. You just hit the spin button and hope a winning combination lands on the reels. Other casino games such as Craps, Blackjack, and Roulette, for the most part, require knowledge to play - or at least to play to an adequate level. You press or pull the spin button/lever and wait for the result. Slot machines also offer inexpensive entertainment in comparison to other games. That is as long as you play responsibly. You can place smaller bets, hence the term ‘Penny slots’.
As mentioned, you can play slot games online or at land-based casinos, though as you’ll find out later in this guide, the odds of winning are lower on the latter. Whichever you choose to play, know that slots at any casino are regulated to ensure fairness and randomness. Despite that, there are a few things you can do to improve your chances of winning.
How do Slot Machines Work?
It takes less than a second to hit the spin button on a slot machine, and the result is already determined when that button is pressed. That is because at the heart of every slot machine game is a random number generator (RNG). An RNG is a software algorithm that determines the result of every spin. It spins through as many as millions of possible outcomes, and the microsecond the spin button is pushed, the RNG stops on one of those outcomes.
Although many players (usually after a losing streak or two) claim slot machine random number generators in the gaming industry are rigged, they’re not. Third-party testing companies independently test them to ensure they provide fair and random results. It’s too big a risk for slot development companies to start creating rigged machines - as they’d get found out fairly quickly.
Slot Odds Explained
As mentioned, slot machines are among the easiest, if not the easiest, casino games to play online. That is a big part of their popularity, as you can pick them up and play them and hopefully win some money. That said, understanding the odds of winning when playing slots is much more complicated.
As mentioned, the RNG is there to scroll through the many different reel outcomes and ensure a fair and completely random result.
The different symbols on the reels, their payouts, and any bonus features determine how much you can win from a spin. These payouts, combinations, hit probability, and RTP determine the odds of winning in slot games.
Slots Probability and RTP
Probability is how likely something will happen. It is measured by the ratio of possible positive results to all possible outcomes. Probability is used to determine the chances of rain storms and used by car insurance companies to determine the chances you'll have a car accident.
Modern slots at online casinos are powered by software and algorithms programmed to offer different probabilities for those symbols to land in winning combinations on the reels. How much the slot pays out over a long period of time from the money it has received is referred to as its Return to Play or RTP.
Many online casinos and/or software providers will display the RTP for their games. Some may not. Still, an RTP is never 100%, simply because the casino would not have an advantage. The difference between the stated RTP and 100% is the casino's statistical advantage or house edge for that online slot game. When turned around, it is also the odds of winning on that slot.
For example:
If an online slot has a listed RTP of 95% over an extended period of time, that slot will pay out 95% of the money put into it and keep the other 5% as profit. That 5% is the house edge. So, in simplistic terms, if you spent $100, you could expect to receive $95 back.
Of course, that is a simplified way to look at it, as the RNG ensures randomness in how the money is paid out. The RTP is not based on your money independently, so you're unlikely to get an exact return of 95$ from your $100. The RNG may determine one play wins $300 from their $100, while another loses their $100 altogether.
Slot Volatility Explained
A slot machine’s volatility also plays a part in determining how it pays out across its RTP. Volatility, or variance, is how big and how frequent a slot’s payouts are.
- Low Variance: Low volatility slots will have a higher hit rate, meaning they will pay out more frequently. However, to balance out those frequent payouts, they are usually smaller on average than slots with higher volatility. A low variance slot could payout as often as every couple of spins, though not necessarily enough to cover the costs of those spins.
- High Variance: A high volatility slot does it the other way around. It pays out less frequently but with larger payouts. Generally, high volatility slots have larger jackpots or lucrative bonus rounds that trigger rarely.
- Medium Variance: Some slots will offer variance right down the middle. Called medium variance, these will payout more frequently than high variance slots and produce bigger wins on average when compared to low variance slots.
Most players have their preferences when it comes to volatility. Generally, high rollers with bigger budgets will go for high variance slots. That’s simply because they have the bankroll needed to sustain winless spins until the big one eventually comes in. Players with smaller bankrolls may opt for low variance slots as these could keep their bankroll ticking over for longer.
Online Slots vs. Brick-and-Mortar Slot Machines
Your slot odds will also change depending on where you want to play. There are differences between playing slots at online casinos compared to land-based venues.
Playing Slots Online
The most significant advantage of playing slots online is the convenience. You can play from the comfort of your own home, on the bus to work, or anywhere you like as long as you have an internet connection. Another benefit when you play online slots is you won't have to wait for a seat or try to make your way through a crowded casino floor to find a game you want to play.
There's also the benefit of having far more games to choose from, stakes to consider, and online casinos to visit. There are thousands of modern slot machines and games, including progressive jackpot slots, classic slots, Megaways slots, and more. You can even play most slots for free via a demo mode before risking real cash.
In terms of odds, you also have more chance of winning when playing an online casino. This is because online slots have an average RTP of 96%. As you'll see in the next section, the average RTP is much higher than in land-based casinos.
Playing Slots at Brick-and-Mortar Casinos
While playing online offers convenience, there is no debate that land-based casinos offer a better all-round experience. You can dress up and visit luxurious casinos with tremendous sights and sounds. Aside from that, you can grab a bite to eat at a restaurant or a quick drink in the bar. Some even have nightclubs.
The main downside with brick-and-mortar casinos is that the slot machines have far lower average RTPs. That is not because the casinos want to rip you off. They have more overheads to pay for compared to online casinos. The casinos have staff, bigger energy bills, rent, and other expenses. To cover this, they have to offer players less favorable odds.
It is common to find slots with payout percentages as low as 80% when playing at a land-based casino. You can still find some slots with a decent RTP. One specific slot machine is Wheel of Fortune, a slot with three reels and a single payline. The Wheel of Fortune slot machine's odds of winning are higher than most land-based slots, as it has an RTP of 96.08%.
The Best Slots Odds
There are nearly 1,500 new online slot releases each year on top of the many thousands already available. That means finding the slots with the best odds can be challenging. Fortunately, we're here to provide you with many high RTP slots you can find at most top online casinos. The slot machines listed below return more money than most other slots in comparison to what they take in. In short, these are the closest you will find to winning slots, even though you'll still lose over time, statistically speaking. See what these slots offer below:
- Book of 99 (Relax Gaming) - 99%
Undoubtedly, some of the best slot machine odds at reputable online casinos can be found on Relax Gaming's 'Book of 99' video slot. If ever there was a winning slot machine, this is as close as you'll get. The 99 in the title gives you a big hint, and that is it's RTP, 99%. That means this slot machine will pay back 99% of the money poured into it over time.
Book of 99 is a 'Book' slot, and that means alongside that high payout percentage is the ever-popular free spins bonus feature with an expanding symbol. There are no other bonus rounds, but there is a wild collection feature that could provide payouts and even access to that free spins bonus.
- Blood Suckers (NetEnt) - 98%
It's not just today's video slots that can have high payout percentages. NetEnt released Blood Suckers in 2009, and to this day, it has a higher payout percentage than the vast majority of online slots. That return was, and still is, a big reason for the success of Blood Suckers.
Blood Suckers has five reels, three rows, 25 fixed paylines, and bonus features, including wild symbols, a picking game, and a free spins bonus. It is a low-volatility game that often delivers wins every other spin. That low variance combined with a high payout percentage makes it a perfect option for those of you looking for the best odds slots but have a smaller bankroll.
- Jokerizer (Yggdrasil) - 98%
Another of the best slots to play if you're looking for high RTP is Yggdrasil's Jokerizer. This slot machine boasts a highly impressive RTP of 98%, meaning this particular slot offers some of the best slot machine odds around. The house advantage is just 2%, which is similar to what blackjack has.
The slot machine itself is fairly simple on the face of it. There are 5 reels, 3 rows, and 10 fixed paylines, and the only in-game features are a Mystery Win, which could reward up to 6,000x the stake and wild symbols. It is a medium to high variance, so probably not the best option if you have a smaller bankroll.
- Zeus Lightning: Power Reels (Red Tiger Gaming) - 97.73%
Red Tiger Gaming is another online slots developer that has released high RTP titles over the years. One of their highest RTP slot machines is Zeus Lightning: Power Reels, an Ancient Greek-themed slot machine offering seven reels, 6 rows, and 30 paylines. This slot game pays out 97.73% of the money it receives, making it a winning slot machine for anyone who wants the best odds when playing online slots.
As for the features, you can expect an Expanded Lightning feature that expands the same symbol type to fill its reels. There's also a free spins feature that could deliver spins with up to three wild symbols present on the reels.
- Blood Suckers Megaways (Red Tiger Gaming) - 97.66%
We already mentioned Red Tiger Gaming is known for producing high RTP slot games, and Blood Suckers Megaways is another. It is the sequel to Blood Suckers, a slot we first mentioned that has a high return to player percentage. That payout percentage is slightly lower on this slot machine at 97.66%, but the max win is higher at a staggering 20,521x the stake.
You place a minimum bet of 0.10 or go up to a max bet of 4.00, which is quite low compared to other slot machines, admittedly. Still, if you're a casual slots player, that should be more than enough. As for the bonus features on this specific slot machine, you can expect a ton of base game modifiers such as random wilds, super wilds, and a win multiplier that can help as you go hunting for reel combinations. Plus, there is a free spins bonus you can either trigger or purchase via the buy bonus feature.
Can You Improve the Slot Odds?
There's no way to change the odds of slot machines as they work via random number generators that pay completely random and according to the slot's RTPs. The only way to improve your chances of winning is to read, listen, and implement some of the many slot machine tips available.
For example, if you want to boost your chances of winning, you should play a casino game with a high RTP. Avoid progressive jackpots, as despite having a big jackpot prize, these generally have a low RTP. You can also increase your odds of winning over a longer period by implementing bankroll management. It will stop you from betting too much and ensure your session lasts longer.
Another way to improve your odds of winning over the long term is to bet using money from casino bonuses. You can claim no deposit bonuses, welcome bonuses, free spins, and more when you sign up at casino sites. You're playing a slot machine without spending your money, which means you can add more money to your bankroll if you get lucky.
Alternatively, you could try popular betting systems like the Martingale, but these usually work best on 50/50 casino games such as Roulette and Baccarat. There are tweaked variations around, which could help you maximize a winning streak when it comes along and also minimize losses.
