gambler
Joined: Jan 11, 2010
• Posts: 483
February 23rd, 2010 at 8:27:31 AM permalink
Let us assume that three \$1 slot machines have the exact same house edge of 3%. Which machine would you rather play?

a) Machine has a maximum jackpot of \$2,000.

b) Machine has a maximum jackpot of \$10,000.

c) Machine has a progressive jackpot of \$1,000,000+.

Would you rather have smaller, more frequent payouts or would you rather have the chance to go for broke and win a life changing jackpot?
Wizard
Joined: Oct 14, 2009
• Posts: 21908
February 23rd, 2010 at 9:17:32 AM permalink
A. I hate volatility.
It's not whether you win or lose; it's whether or not you had a good bet.
jeremykay
Joined: Feb 5, 2010
• Posts: 69
February 23rd, 2010 at 10:03:17 AM permalink
I don't like playing slot machines for long periods of time, so I'd probably stick \$20 in the \$1M+ and see what happens.
ahiromu
Joined: Jan 15, 2010
• Posts: 2101
February 23rd, 2010 at 12:14:04 PM permalink
I'd pick the machine with the \$1199 jackpot, so I don't have to deal with taxes.
Its - Possessive; It's - "It is" / "It has"; There - Location; Their - Possessive; They're - "They are"
tsmith
Joined: Jan 15, 2010
• Posts: 272
February 23rd, 2010 at 3:26:25 PM permalink
I'd go for A because even tho the payback percentage is the same, the hit frequency on the machine with the smallest jackpot will probably be higher, giving me more winning spins in the same amount of playing time. I'm not saying I'd end up winning overall, but I'd see more payouts, which is always fun.

I stay away from progressives as a rule, except for those that are not tied to a common jackpot pool. By that I mean I'll play Blazing 7s progressive machines because they each have their own progressive counter. I'd rather collect four small Blazing 7s JPs than try for one big one.
ahiromu
Joined: Jan 15, 2010
• Posts: 2101
February 23rd, 2010 at 3:35:21 PM permalink
We have all seen the movies (The one that come to mind immediately are "What Happens in Vegas") where someone hits a ridiculous jackpot. I'm wondering (Yes I know the house edge is ridiculous on those machines) where I can find a machine that has a jackpot for like a couple million or something in Vegas. I'd like to give it a few spins, preferably something I can play without putting in a lot of money.
Its - Possessive; It's - "It is" / "It has"; There - Location; Their - Possessive; They're - "They are"
Mosca
Joined: Dec 14, 2009
• Posts: 3795
February 23rd, 2010 at 3:53:17 PM permalink
Quote: ahiromu

I'd pick the machine with the \$1199 jackpot, so I don't have to deal with taxes.

The \$5 Wheel of Fortune machine at the Tropicana in Atlantic City has the Wheel set up that way! No \$5000 space, but lots of high \$ spaces.
NO KILL I
jeremykay
Joined: Feb 5, 2010
• Posts: 69
February 23rd, 2010 at 4:40:02 PM permalink
Quote: ahiromu

We have all seen the movies (The one that come to mind immediately are "What Happens in Vegas") where someone hits a ridiculous jackpot. I'm wondering (Yes I know the house edge is ridiculous on those machines) where I can find a machine that has a jackpot for like a couple million or something in Vegas. I'd like to give it a few spins, preferably something I can play without putting in a lot of money.

I'm guessing you've never been to vegas... You'll see them everywhere! Hell, just step off the plane and look right in front of you at the airport.
ahiromu
Joined: Jan 15, 2010
• Posts: 2101
February 23rd, 2010 at 5:52:03 PM permalink
I haven't really looked around before, and the most I saw before was a few hundred k.
Its - Possessive; It's - "It is" / "It has"; There - Location; Their - Possessive; They're - "They are"
DJTeddyBear
Joined: Nov 2, 2009
• Posts: 10232
February 23rd, 2010 at 7:54:00 PM permalink
A few hundred K isn't good enough?

Generally, these are progressive jackpots, in clusters, all contributing to the jackpot. Sometimes the jackpot is pooled among the same type of machine in different casinos. Doesn't have to be casinos in the same company either.

Ever see a photo of a jackpot winner holding one of those giant checks, and the check has the logo of the slot manufacturer, but not the casino? THAT'S a jackpot that was pooled between a bunch of different company's casinos.

Until they hit, they keep growing. It's rare, but they do sometimes grow to over a million. So someone can report seeing a progressive that's over a million today. But if someone hits it tonight, you won't find it tomorrow.

---

But back to the original question...

Option A - \$2000. Much more likely that I'd win something.

Then again, you're talking about someone that very rarely bothers playing slots. Far too mindless for me.

---

\$1199? A LOT of slots pay \$1199 for whatever prize should have been \$1200, for exactly the reason you state. People don't mind that \$1 extra dollar to not deal with the taxes. On the other hand, the casinos appreciate not having to deal with the paperwork.

I've also seen machines that had some prizes at \$599 for the same reason (or perhaps they were older machines, and the law / limit changed since?)
Superstitions are silly, childish, irrational rituals, born out of fear of the unknown. But how much does it cost to knock on wood? 😁