At first glance it seems online slot machines are a 100% game of chance. And they really are, at least in the terms of a single game round. However, that doesn’t mean that you can’t influence your chances by using the right betting strategy and choosing the right game to play.
Posted on Fri, 27/11/2020
We are all looking for ways to win, especially when it comes to playing some of the best online slots. Before the advent of the online casino, gamers only had the option of playing in land based casinos. It was here that they would try their luck at traditional fruit slot machines. In this article we are going to discover slot machine cheats with a magnet. We will also look at the other slot machine cheats there are out there.
If you are not a fan of land based slots don’t worry, just head over to Easy Slots! At this online casino you can spin the reels of hundreds of online slot machines.
How to cheat a slot machine with a magnet
This is actually a fairly common question and it can only be achieved on the older machine models. This is because they are made of metal. So, to cheat it you will need to begin the game and then utilise a strong enough magnet on the outside of the machine. What you then want to do is use the magnets to stop the reels from spinning when you spot your winning combination. You would then take the magnet away from the machine and claim the winning payout. This is not the easiest slot cheat to get away with though, as you can hardly hide what you are doing!
The light wand
This slot machine cheat was invented by a man called Tommy Glenn Carmichael. It’s likely that you have already heard of this man, as he is notorious for cheating slot machines for 40 years before he got caught. He spent time in prison as a punishment before he decided to change his ways for the better. He now helps out the Nevada Gaming Commission to catch cheaters. One of his cheating inventions was the light wand which works on the machines that used random number generators. The purpose of the light wand is to trip the electronic sensor and it would need to move its way up the payout hole. It would then trick the machine into thinking that it needs to give the player a payout.
Fake coins
Another common way of cheating a slot machine is with fake coins. Players would use fake coins that are worth no real money and then hope that they will land a winning payout. A famous gambler called Louis Colavecchio used this method. He even gained the nickname ‘The Coin’ in the process! He utilised this way of cheating slot machines for a number of years until he was put in prison in 1998. In 2006 he had done his time, but he went back to cheating the slots soon after!
Dollar bill validator device
This is a similar form of cheat to the one above, as it revolves around the money you are putting into the slot machine. It has also been around for many years now, and it’s a pretty sneaky one as players don’t often get caught from it. It is a device that you wrap around your money to trick the slot machine. It will then believe that a $1 note is a massive $100 bill, and this can greatly increase your chances of landing a huge winning payout.
Concluding thoughts
From our article it is clear that players will stop at nothing to win – even if that means cheating! The various ways of cheating are interesting to research, especially how to cheat a slot games with a magnet. However we would never, ever recommend that players try and cheat slot machines. This is for numerous reasons, but the most obvious is that it takes all of the fun out of it. After all, winning fair and square is what makes casino gaming fun. What’s more, you can be banned for life from casinos for cheating and this means that you won’t be able to play your favourite games ever again. Plus you could even be thrown in jail and we don’t think you’d want that!
So make sure that you avoid cheating at all costs and just cross your fingers and hope lady luck is on your side! If it’s online slot games that you want to play, then sign up to the online casino Easy Slots. They have hundreds of games to choose from, all with great bonuses that can help you win fairly. They won’t stand for you cheating over there!
The gaming industry is big business in the U.S., contributing an estimated US$240 billion to the economy each year, while generating $38 billion in tax revenues and supporting 17 million jobs.
What people may not realize is that slot machines, video poker machines and other electronic gaming devices make up the bulk of all that economic activity. At casinos in Iowa and South Dakota, for example, such devices have contributed up to 89 percent of annual gaming revenue.
Spinning-reel slots in particular are profit juggernauts for most casinos, outperforming table games like blackjack, video poker machines and other forms of gambling.
What about slot machines makes them such reliable money makers? In part, it has something to do with casinos’ ability to hide their true price from even the savviest of gamblers.
The price of a slot
An important economic theory holds that when the price of something goes up, demand for it tends to fall.
But that depends on price transparency, which exists for most of the day-to-day purchases we make. That is, other than visits to the doctor’s office and possibly the auto mechanic, we know the price of most products and services before we decide to pay for them.
Slots may be even worse than the doctor’s office, in that most of us will never know the true price of our wagers. Which means the law of supply and demand breaks down.
Casino operators usually think of price in terms of what is known as the average or expected house advantage on each bet placed by players. Basically, it’s the long-term edge that is built into the game. For an individual player, his or her limited interaction with the game will result in a “price” that looks a lot different.
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For example, consider a game with a 10 percent house advantage – which is fairly typical. This means that over the long run, the game will return 10 percent of all wagers it accepts to the casino that owns it. So if it accepts $1 million in wagers over 2 million spins, it would be expected to pay out $900,000, resulting in a casino gain of $100,000. Thus from the management’s perspective, the “price” it charges is the 10 percent it expects to collect from gamblers over time.
Individual players, however, will likely define price as the cost of the spin. For example, if a player bets $1, spins the reels and receives no payout, that’ll be the price – not 10 cents.
So who is correct? Both, in a way. While the game has certainly collected $1 from the player, management knows that eventually 90 cents of that will be dispensed to other players.
A player could never know this, however, given he will only be playing for an hour or two, during which he may hope a large payout will make up for his many losses and then some. And at this rate of play it could take years of playing a single slot machine for the casino’s long-term advantage to become evident.
Short-term vs. long-term
This difference in price perspective is rooted in the gap between the short-term view of the players and the long-term view of management. This is one of the lessons I’ve learned in my more than three decades in the gambling industry analyzing the performance of casino games and as a researcher studying them.
Let’s consider George, who just got his paycheck and heads to the casino with $80 to spend over an hour on a Tuesday night. There are basically three outcomes: He loses everything, hits a considerable jackpot and wins big, or makes or loses a little but manages to walk away before the odds turn decidedly against him.
Of course, the first outcome is far more common than the other two – it has to be for the casino to maintain its house advantage. The funds to pay big jackpots come from frequent losers (who get wiped out). Without all these losers, there can be no big winners – which is why so many people play in the first place.
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Specifically, the sum of all the individual losses is used to fund the big jackpots. Therefore, to provide enticing jackpots, many players must lose all of their Tuesday night bankroll.
What is less obvious to many is that the long-term experience rarely occurs at the player level. That is, players rarely lose their $80 in a uniform manner (that is, a rate of 10 percent per spin). If this were the typical slot experience, it would be predictably disappointing. But it would make it very easy for a player to identify the price he’s paying.
Raising the price
Ultimately, the casino is selling excitement, which is comprised of hope and variance. Even though a slot may have a modest house advantage from management’s perspective, such as 4 percent, it can and often does win all of George’s Tuesday night bankroll in short order.
This is primarily due to the variance in the slot machine’s pay table – which lists all the winning symbol combinations and the number of credits awarded for each one. While the pay table is visible to the player, the probability of producing each winning symbol combination remains hidden. Of course, these probabilities are a critical determinant of the house advantage – that is, the long-term price of the wager.
This rare ability to hide the price of a good or service offers an opportunity for casino management to raise the price without notifying the players – if they can get away with it.
Casino managers are under tremendous pressure to maximize their all-important slot revenue, but they do not want to kill the golden goose by raising the “price” too much. If players are able to detect these concealed price increases simply by playing the games, then they may choose to play at another casino.
This terrifies casino operators, as it is difficult and expensive to recover from perceptions of a high-priced slot product.
Getting away with it
Consequently, many operators resist increasing the house advantages of their slot machines, believing that players can detect these price shocks.
Our new research, however, has found that increases in the casino advantage have produced significant gains in revenue with no signs of detection even by savvy players. In multiple comparisons of two otherwise identical reel games, the high-priced games produced significantly greater revenue for the casino. These findings were confirmed in a second study.
Further analysis revealed no evidence of play migration from the high-priced games, despite the fact their low-priced counterparts were located a mere 3 feet away.
Importantly, these results occurred in spite of the egregious economic disincentive to play the high-priced games. That is, the visible pay tables were identical on both the high- and low-priced games, within each of the two-game pairings. The only difference was the concealed probabilities of each payout.
Armed with this knowledge, management may be more willing to increase prices. And for price-sensitive gamblers, reel slot machines may become something to avoid.