“Say someone wins $500,000 on a slot machine jackpot,” says Derk. “We’re going to review it but we’re just going to make sure everything’s okay — that they didn’t open the machine.
- How To Open Up A Business With Slot Machines Machine
- How To Open Up A Business With Slot Machines Dispense
- How To Open Up A Business With Slot Machines Jackpots
- How To Open Up A Business With Slot Machines Without
Here are some of my personal tips for successful slot play. They’ve done me well over the years, but individual results may vary. And luck / timing does of course play a big part in things too. Whether you’re a professional slot player (which I believe to be 40+ hours per week) or a “fun player” (or casual player), the following tips may be of use to you.
1. Take enough money (bankroll) to play. In order for you to sustain your required play time, you must be able to invest a sufficient amount of money to warrant a successful play period. This will be dependent on the type of machine, the frequency of hits / wins, and the denomination value you choose to play. If you’re playing a machine at $1 per spin, and want to play for a few hours or more, I’d suggest a bankroll of $500. If you’re playing $5 machines, that bankroll should be $2,500. If you’re playing quarter / 25c machines (at 25c per spin), then $150 or thereabouts may be sufficient. Many slot players lose their money because they don’t have sufficient bankroll to last them in between jackpots.
2. Be patient. Jackpot combinations don’t spin up all that often. Bet low amounts and give yourself the maximum number of spins possible for your bankroll – the more spins you have, the more chances you have to get that elusive jackpot! Don’t make big bets on impulse or out of frustration, that could unnecessarily hurt your bankroll (i.e. don’t bet $1 on a $500 bankroll, and then through frustration start playing $9 per spin)! Keep a level head, and a level bet throughout. Separate emotion from logic. Logically, you’re hoping to get a return on investment. You’ve got to make the investment first – but don’t panic when things go wrong. Keep your bets low and equal – and hope for some luck!
3. Never play just for casino comps. Whilst complimentaries from the casino are always nice to receive, they never equal in value what you’d need to spend (in the long term) to justify them. Let’s say a casino gives 1 point (worth 1c) for every $4 into a machine. It’s not worth risking $2,000 ($400 x 5) just to get a $5 comp is it? If you’re playing anyway, that’s fine – but never play over what you were going to, just to get a casino gift. That cash is better in your pocket than theirs!
4. Know when to quit a machine. No slot machine will continually pay out. Generally slot machines will give and take in some form of “cycle”. If you’re winning, move on to another machine. If you’re not winning, ask yourself whether the machine seems to be in a cold cycle (showing you lots of “near wins” – but not actually giving you any payouts), or whether it’s a small glitch soon to come right. If it’s a glitch, stay where you are and continue playing, and wait for the up swing. If you believe it’s a “cold cycle”, cut your losses and move on. Knowing when to quit is one way of protecting your investment.
5. Know when you’ve made enough. When is enough profit enough? For me, anytime I’ve made 25% or more above my starting bankroll, I’ll leave a machine. If I’ve got a budget of $100 for the machine and after putting in say $80 I’ve got $125 of credits, that’s good enough. I cash out and move on. If I’ve put $20 into a machine and I’ve now got $25 after a hard fought battle (i.e. on a 5c machine), I’ll cash out and move on also. Your own thoughts will determine when enough is enough for you – but DON’T get too greedy. Greed can be very unlucky!
6. How often should you play? That’s up to you, and it will depend upon your reasons for playing and the time you have available. For most readers, I’d recommend visiting a land based casino about once a month, for a few hours of dedicated profitable play time (i.e. focused time when you’re there for one reason only: to make a profit whilst playing slots). Internet casino players might wish to visit more frequently – i.e. one night a week (as the slots typically pay higher online). But you should always only play to your own bankroll and time requirements.
7. Which casino should you play in? This is trickier for land-based casinos, due to the wide range of potential considerations: location, reputation, audience catered to (i.e. high end like Bellagio, low end like Circus Circus), comp policy, etc. For online casinos, it’s easier. Avoid casinos that are licensed in the Carribean, in South America, in Africa, and similar destinations. Casinos that are licensed in the UK or surrounds (UK, Ireland, Malta, Gibraltar, Isle of Man) tend to be very reputable, and pay out when you win. These reputable solidly licensed casinos are the only types of casinos promoted here.
8. Which kind of slot machines should you play? Three real slot machines without progressive meters attached typically pay well. Video slots (i.e. 20 lines etc) like IGT Texas Tea Slot Machine, or Captain Quid Slot Machine, or Join the Race for Riches, are an entertaining way to pass time, with an edge that’s not too detrimental (assuming all lines are played on each spin). However, they do tend to be a little lower in payback (on average) than the traditional reel spinners. Whilst there’s no hard and fast rule, online casino slot machines do tend to pay back a bit better than those in land-based casinos (the overheads are lower – they can afford to be more generous on the game payouts).
Perhaps you’ve got some of your own slot tips you’d like to share with other readers of this blog? If that’s the case, send me an email at admin@howtobeatthecasinos.com. I’d love to hear your views and ideas!
You can find as many objects to collect as you can find collectors, but some of the most interesting collectibles are slot machines. You can buy them used, but the legality of owning a gambling machine varies from state to state. This page takes a look at some of the issues involved in buying a used slot machine to start or expand a collection of your own.
Where Do You Live?
The first thing you should understand is that no matter where you live, if you’re using a slot machine to offer gambling to other people, you need a license. In some states, gambling is completely prohibited. Chances are you’re an individual collector and don’t have a gambling license, so don’t let people gamble on your games unless you have a high risk tolerance for illegal behavior.
In some states, even collectors aren’t allowed to own a used slot machine. These states include Alabama, Connecticut, Hawaii, Indiana, Nebraska, New Mexico, South Carolina, Tennessee, and Wisconsin. Ownership of slot machines, used or otherwise, is illegal in those states.
Other states have no legal restrictions on slot machine ownership as long as you’re not using them to run a gambling business. These states include: Alaska, Arizona, Arkansas, Kentucky, Maine, Minnesota, Nevada, Ohio, Rhode Island, Texas, Utah, Virginia, and West Virginia.
The other states have specific guidelines based on the age of the machine. For example, in California, Delaware, Illinois, Iowa, Louisiana, Michigan, Mississippi, Montana, New Hampshire, North Carolina, North Dakota, Oklahoma, Oregon, South Dakota, Washington, and Wyoming, it’s legal to own a slot machine as long as it’s at least 25 years old. Other states have higher or lower age limits—in Florida you can own a slot machine as long as it’s 20 years or older, but in Massachusetts, it has to be at least 30 years old. And still other states base it on what year the machine was built; in Illinois and Iowa, for example, it’s only legal to own slot machines that were constructed before 1950.
To the best of my knowledge, this information is complete and accurate, but before buying your own used coin-op slot machine, you should check with local legal authorities to make sure you have the most up to date information. You should always obey the laws in whatever jurisdiction you reside.
How To Open Up A Business With Slot Machines Machine
What Kind of Dealer Are You Dealing With?
You’ll find plenty of people selling used slot machines on the Internet. Many of these are third-party sellers. That means they don’t offer slot machines directly; instead, they just take your order and then buy the slot machine from someone else and have it shipped to you. You’ll often notice that these third party dealers use stock images or pictures that were stolen from direct dealers’ websites.
It’s better to deal with a direct dealer when you can. These dealers will often offer a warranty on the machines they sell. They’ll also be able to help you over the phone if you’re having a problem operating your game. Third party dealers aren’t able to offer you this level of service.
One way to be sure you’re dealing with an actual dealer instead of a third party is to ask them if you’re able to visit their showroom or warehouse. Third party dealers, for obvious reasons, don’t have showrooms or warehouses.
What Kinds of Used Slot Machines CAN I Buy?
Most dealers offer reconditioned machines that have been retired from use in Las Vegas style casinos. Many of these are the same IGT (International Game Technology) manufactured games that you’re used to seeing in the casino, only older and more primitive. Most dealers also provide replacement parts and repair services.
One thing to look for when considering buying a machine from a dealer is whether or not they use real glass or plexiglass. Real glass is superior as plexiglass fades over time. You can expect to pay a little more for a machine with real glass, but it’s worth the extra cost. If you’ve ever seen a faded plexiglass screen on a used slot machine, you’ll know what I mean.
Many of these games can be set up to enjoy on “free play” mode. You don’t have to insert any kind of money in order to play these games. You can even modify these games to pay out tickets.
How To Open Up A Business With Slot Machines Dispense
Examples of some of the popular and well-known games available for sale on the Internet include titles like Cleopatra, Double Diamond, Munsters, Red, White, and Blue, Sizzling Senves, Tabasca, Texas Tea, and Wild Cherry slots. Many other titles are available besides these, but you’ll recognize a lot of these brand names as still being available (albeit in newer models) in casinos today.
How Much Should I Spend?
Used slot machines are collectibles, and they’re priced accordingly. Shipping is usually going to be expensive, too. You can probably expect to pay at least $600 for a good machine and $200 for shipping. Video slots will cost twice that or more, and you’ll sometimes have the option of upgrading to a new LCD monitor when buying a video slot machine. Those are expensive, too–$400 or $500.
Other upgrades you can pay for include stereo sound packages, coin in coin out functionality, and/or backlit reels (on mechanical or electro-mechanical machines). These upgrades generally cost between $100 and $200 each.
How To Open Up A Business With Slot Machines Jackpots
Of course, these prices apply to relatively newer slot machines. Older antique slot machines can cost more or less. I’ve seen slot machines from the 1930s and 1940s that were beautifully refurbished for sale for as little as $325. Some of these older machines are barely recognizable as slot machines, but they make beautiful, conversation-worthy collections.
Conclusion
How To Open Up A Business With Slot Machines Without
Buying a used slot machine can be a fun way to start a new hobby of collecting gaming machines, but do some research first. You want to make sure that it’s legal to do so before you get started. You also need to do some research into dealers before spending any money. Avoid third-party dealers, and find a direct dealer with a warehouse who offers warranties and telephone customer support.