You can find stories about people gambling for a living. Many people play poker for a living, and it’s easy to see why. Poker doesn’t have a built in house edge; it has what amounts to a seat charge in the form of rake. Poker players aren’t trying to win the house money, they compete for other player’s money. This is different than most other forms of gambling.

You can also read about blackjack players that have learned how to count cards or find sloppy dealers that flash the value of down cards. Some of these players are able to play blackjack for a living. A small percentage of sports bettors, horse track bettors, and dog track bettors are also able to make enough money to gamble for a living.

But it’s rare to find people who can gamble for a living who play other casino games. Bob Dancer claims that he was able to play video poker for a living several years back, but even if his claim is true, many things have changed since then. It’s harder to find full pay video poker machines and casinos pay lower comp rates for video poker play.

More people play slot machines than all of the other games in the casino combined. The slot machines are responsible for a large portion of casino profits, so the casinos love slots players. Most slots players mindlessly spin the reels and hope for a win. This is just one of the many mistakes that I see slots players make. Manage your bankroll. To built up a gaming strategy, the slot player must first of all decide on the. Many players go into almost a meditative state at the machine, says Forrest, a slot player and author of “Slots: Praying to the God of Chance” (Delphinium Books, print and electronic editions). The book, released this month, explores why millions of people play slots, even though few expect to win.

Of course, there’s nothing wrong with that and I’m not trying to say that he didn’t make money playing. But I don’t know if anyone is making a living playing video poker today. It’s possible, but if there are players doing it, there aren’t very many.

A few authors claim to make money playing craps using dice control. This has always struck me as a way to sell books and training courses, but just like Dancer’s claim in video poker, I suppose a few people can use dice control. Also just like video poker, if people are successful at dice control, there aren’t very many of them.

Games like slots, roulette, baccarat, and other table games don’t have stories about gamblers playing them for a living. Does the lack of stories mean that these games are impossible to beat?

Slots are the most popular form of gambling in casinos. People love to play slots. This brings me to the reason for this article.

The Hard Truth

Before you continue, consider exactly what making a living means. Some people live on $25,000 a year, while others seem to need $50,000 or $100,000 a year. Many factors come into play when determining how much someone needs to live.

Some of the factors include:

• Where you live
• How many people you have to support, like a spouse and children
• How frugal your lifestyle is
• How much debt you have

For the purposes of this article I’m going to use $52,000 a year as the threshold for making a living. This works out to $1,000 a week. You can use any number that you want, but unless you live in an expensive area, most people can survive on this amount.

Another issue that must be considered when you think about playing slots for a living is the lack of health insurance and other benefits. Professional gamblers have to find health care and they don’t get paid time off. Health care is a serious expense for many people and it can be dangerous not to have some type of coverage.

Many young people don’t worry about the lack of health care coverage, but as you get older it often becomes a real concern. If you have to pay for health insurance it can take a big chunk out of your income. Keep this in mind when you determine how much you need to make to play slots for a living.

The hard truth is playing slots for a living is almost impossible unless you’re already wealthy and have enough money that you can afford to lose in the long run. It’s much more likely that you’re going to lose $1,000 a week than win $1,000 week playing slots.

While most slots players lose in the long run, it’s not 100% impossible to play slots for a living. But such a small percentage of players make money that the truth is that you should probably forget the idea.

Each machine is programmed to pay back a certain percentage of every dollar wagers and keep the rest for the casino. These numbers are called different names, but I call them pay back percentage and the house edge.

A slot machine’s pay back percentage is the amount of all bets returned to the player through wins on the machine. If a slot machine has a 95% pay back percentage that means that on average it gives back $95 out of every $100 wagered to the player.

If you consider this from the other angle you get the house edge. When the slot machine pays back $95 out of $100, it keeps the other $5 for profit. In other words, a machine that pays back $95 out of every $100 wagered has a 5% house edge.

When you add the house edge percentage and the pay back percentage together, they always equal 100%. This means that if you know one number you can subtract it from 100 to get the other number.

You can use these numbers to predict how much money you should win or lose over a set period of time, based on how much you bet per hour. Because the house edge is in the casino’s favor, it means that if you can’t figure out how to overcome the edge or get lucky, you’re going to lose in the long run.

Most slot machines have a payback percentage between 90 and 98%. This means the house edge is between 2 and 10%. With a house edge, it means that you lose between 2 and 10% of every dollar you run through the machine.

Here’s an example:

• You play on a slot machine that has a 98% pay back percentage, which means it has a 2% house edge. Your bet size is $2 per spin and you make 400 spins per hour. You can figure out your average loss rate, or what you can expect to lose on average per hour, by using this formula.
• Amount bet per spin times spins per hour times the house edge.
• $2 X 400 X 2% = $16

This means that if you play for 10 hours your expected loss is $160. You simply multiply the expected hourly loss times the number of hours you plan to play and you get the average expected loss.

People Playing Slot Machines In 2019

Slots are run by computers, which use a program based on math. These programs, unless the programmers made a mistake, make sure that the underlying math principles always come true. It might take millions of spins, but the programs guarantees that the machine produces the programmed profit percentage for the casino.

The house edge and pay back percentage are long term things. This means that these percentages are realized over a long period of time. In the short term the house edge and pay back percentages vary, sometimes a great deal. But eventually the short term variance evens out and produces the correct results.

Most players can’t, and this is why it’s almost impossible to play slots for a living.

If you still want to try to play slots for a living, the following sections have additional information you need to know. Just keep in mind that even if you use every trick and strategy in your power, you still might lose money in the long run.

Finding the Pay Back Percentage of Slots

You just learned about pay back percentage and the house edge and how these things guarantee the casino a profit. So the next question is how do you find out the house edge and pay back for slot machines?

Most casino games are designed in a way that it’s fairly easy to determine the house edge and pay back percentage, or you can easily find the numbers with a quick internet search. But slots are different. The programs that run the machines have so many variables that unless you have access to the program it’s impossible to determine the house edge and pay back percentage.

Another problem is that some machines offer different pay back percentages from the manufacturer, so each casino can order their machines with the percentage they want. You can find out more about finding slot machine pay back percentages here, but the news isn’t good.

The following sections include everything I know that can help you improve your chances to win. Four of them are strategies that you can put into action yourself, and the other one is based on hope. Sadly, hope isn’t much of a strategy, but it fits in perfectly with how most people gamble. They put their money out and hope to win.

Online Bonuses

Online casinos often offer bonuses for slots players when they make a deposit. You can get 100% or more of your deposit matched with bonus money you can use to play slots. This sounds like a great way to overcome the house edge, and if the money was free it would be.

While bonus money looks like it’s free, when you read the conditions and terms associated with the bonus you find out that it’s not a simple as the casino giving you free money.

Every online slots bonus comes with rules and regulations about how you can use it, what you have to do before you can cash out your money, and if you get to keep any bonus amount when you meet the terms of the offer.

The terms vary from online casino to online casino, so it’s important to read them before you make your deposit. Some bonuses are deducted from your balance when you make a cash out request, while others can be cashed out eventually.

When you accept an online slots bonus you have to meet certain requirements. These are usually called play through requirements. A play through requirement means that you have to play the bonus amount, and sometimes the deposit amount as well, a certain number of times to clear the bonus. The requirement is usually shown as a multiple, like 25X or 50X. This means you have to make wagers totaling 25 times or 50 times the bonus, and sometimes the deposit amount.

Here’s an example:

• You sign up at an online casino that offers a 100% sign up bonus on deposits up to $250. You make a $250 deposit and get a $250 bonus. This gives you a total bankroll of $500. The terms and conditions state that you have to play the deposit and bonus amount 50 times before you can cash out.
• The total of the bonus and your deposit is $500, so you multiply this by 50 to find the total amount you have to bet. 50 X $500 = $25,000, so you have to make $25,000 worth of bets before cashing out. The best can be any size as long as the total amount reaches the limit.

You can use a trick at this point to get an idea of the possibility of clearing the bonus and having money left over. You can multiply the total amount you have to wager times the house edge to find the expected loss.

Using this example, if you play on a slot machine with a 5% house edge, your expected loss is $1,250. This means that usually you’re going to run out of money before you clear the bonus. The only ways to change this are to play on a machine with a lower house edge, or find bonuses that have lower play through requirements.

You also need to make sure you understand the difference between cashable bonuses and the ones that are deducted from your balance. A bonus that can’t be cashed out when you meet the playing requirements makes it unlikely you can beat the house edge.

Here’s an example if you play a slot machine with a 2% house edge, using the same bonus numbers in the last example.

$25,000 X 2% = $500. This means that your expected loss is the same as your total bankroll of $500. Even if you get lucky and don’t lose all $500, the odds of you having more than your deposit of $250 left after clearing the bonus is slim.

You should defiantly use online slots bonuses if you want to play slots. Even a bonus that’s not cashable gives you extra money to gamble with. It also gives you extra chances to hit a big jackpot, which is the only way most slots players have of getting ahead.

Slots Tournaments

Slots tournaments aren’t run at all casinos, but some casino run them from time to time, and a few run them on a regular basis. A slots tournament offers a minimum amount of play for a set entry fee and awards prizes for the top finishers.

Some casinos offer slots tournaments as a reward for a set amount of play and/or connected to their slots club program. If you can earn a free entry into a slots tournament, anything you win helps overcome the house edge on your normal slots play.

When you’re looking for a slots tournament that has an entry fee, you should look for ones that have a guaranteed prize pool. If you can find tournaments that don’t get enough entrants to cover the prize pool you can play with an edge. It won’t greatly improve your chances of finishing in the money, but when the entry fees don’t cover the prize pool it’s profitable to play.

Here’s an example:

• The casino offers a slots tournament with a guaranteed prize pool of $1,000. The entry fee is $10 and they only get 80 people to sign up. If you divide the prize pool by the number of entrants you get the average value of playing.
• In this case, the average is $12.50. Any time the average return for playing is higher than the entry fee you’re playing with an edge.

You still have to finish in the money to win some money, but if you play in enough of these types of situations you come out ahead eventually.

Playing Slots for Comps and Promotions

Every time you play slots you should be earning comps. Sign up for the slots club at your local casino and look for online casinos that have a rewards program. The casinos don’t give back enough in comps to overcome the normal house edge, but every penny you get back in comps helps lower your cost to play.

Casinos also run promotions from time to time. You might be able to find free slots play vouchers and match play coupons in the local paper or on the web site of the casino where you’re planning to ply. Promotions and coupons are a great way offset the built in house edge of the slot machines.

Getting Lucky

I hate to say it, but the only way most people can play slots for a living is to get lucky. If you’re lucky enough to hit a big jackpot sometime in your life, and are smart with the money, you can afford to play slots full time.

The only slot machines I play are the ones that offer either a progressive jackpot or ones that have a set top jackpot prize of $100,000 or higher. I know I can’t overcome the long term house edge without a big win, so I don’t waste my time on machines that can’t make a big deposit into my bank.

Getting lucky isn’t a strategy, but if you don’t put yourself in position where you have the chance to be lucky you don’t even have reason to hope. If you want to play slots for a living focus on slots with big jackpot possibilities.

Progressive Jackpots

The only way to truly play slots with an edge over the house is to play a progressive jackpot slot machine where the top prize has grown so high that it overcomes the edge. The problem with this is the same as I discussed earlier. If you don’t know the house edge you can’t determine how high the progressive jackpot has to climb before it makes the play profitable.

If you don’t know the house edge, simply play the slots that have the highest jackpots. Most casinos, both online and off, have at least one slots game with a jackpot over $1,000,000.

If you can’t find one with a jackpot over $1 million, look for the highest one you can find. A $500,000 jackpot win might not set you up financially for life, but it’s enough to help out quite a bit.

Conclusion

Playing slots for a living is a dream of many gamblers. But the truth is that it’s almost impossible to succeed. The house edge locks in a long term profit for the casinos, so very few people win.

You can use the tips and strategies on this page to give yourself the best chance to overcome the house edge, but if you want to gamble for a living your best bet is to stop playing slots and pick a different game.

More people play slot machines than all of the other games in the casino combined. The slot machines are responsible for a large portion of casino profits, so the casinos love slots players. Most slots players mindlessly spin the reels and hope for a win.

This is just one of the many mistakes that I see slots players make. Here’s a list of the top seven mistakes that slots players make on a regular basis. If you’re making any of these mistakes you need to stop, so you can stop giving the casino more than you need to.

1 – 600 Spins per Hour

Almost every real money slots player I know spins the reels as fast as they can. As soon as one spin is completed, if not before, they’re hitting the spin button again. It looks like they’re in a contest to see how fast they can burn through their bankroll.

One thing that you have to know about playing slot machines is you simply can’t win in the long run. You can’t find a strategy that provides a long term win rate. The only way for a slots player to win more than they lose in the long run is to get lucky the first time you play, stop playing when you’re ahead, and never play again.

It’s also possible to get extremely lucky and hit a big jackpot that puts you ahead. But even if this one in a million or more chance happens, if you keep playing long enough after you hit a jackpot the odds are good that you’re going to give all of the money back to the casino.

The reason why it’s important to remember that you’re going to lose in the long run playing slots is that the more you risk every hour the more you’re going to lose. This is why you shouldn’t play as fast as you can. Some players can play 600 spins per hour, which means they’re risking too much money.

People Playing Slot Machines In Tulsa Ok

If you’re playing on a machine with a $2 bet, at 600 spins per hour you’re risking $1,200. On a slot machine with a payback percentage of 95%, which is higher than average, your expected loss is $60 every hour. This quickly burns through your bankroll.

If you play 300 spins per hour, which is still a healthy pace, your expected loss per hour is only $30. You can make your bankroll last twice as long, or longer, by simply slowing down when you play slots.

2 – Not Playing with a Bonus

In the last section you learned that you’re not going to beat the slots in the long run. Slot machines are the biggest money maker for the casinos, and you can’t do anything to change this. This means that your best option if you play slots is to figure out ways to make your bankroll last as long as possible. I gave you a good trick for extending your bankroll in the last section, and here’s another good option.

Most online casinos offer slots players a bonus when they make deposits. Most online slots bonuses are at least 100% of your deposit, and some casinos offer even more. If you’re going to play slots, you need to get every bonus you can. Take a look at the bonuses the casinos recommended on this site offer to slots players.

The other big advantage that slot machine bonuses offer is they give you more chances to hit a progressive jackpot or a static jackpot. The only way to have a real chance to come out ahead in the long run playing slots is to hit a big jackpot. When you get a bonus that doubles your deposit, you have twice as many chances to hit a jackpot.

3 – Not Reading the Rules

When is the last time you took the time to read the rules on a slot machine before you started playing? If you’re like most slots players you haven’t read the rules on a machine for a long time. It only takes a minute to look over the rules, so why don’t slot players read them more often?

Most slot machines are fairly simple and you can do fine without reading the rules. But if you don’t read the rules you might miss something important. When you’re playing on a machine with one or more jackpots you need to know if there’s anything special you need to do or be aware of to activate the big payout.

As slot machines become more complicated and have more bonus rounds, bonus games, and special features, it’s easy to miss something important. Get in the habit of reading the rules on every slot machine that you haven’t played before.

4 – Not Wagering Max Coins

Every slot machine that I’ve ever played that has a jackpot or jackpots require a maximum coin wager to unlock or activate the line or lines for the highest payouts. Some slot machines take care of this by only offering one bet size that is good for all of the available lines, but some machines let you choose the coin size and lines you want activated.

The simple way to make sure you’re eligible for the top payout is to always bet max coins and activate all of the lines. If you don’t want to bet as much per spin as this requires on one machine, play on a different machine with a lower max bet amount.

5 – Not Playing for Jackpots

I’ve mentioned this in a couple of the earlier sections, but the only way you have a realistic hope of winning in the long run playing slots is by hitting a big jackpot. This is why I recommend only playing on slot machines with a big jackpot.

I usually only play on progressive jackpot slot machines, but there are some machines that have big static jackpots available as well.

It’s up to you to determine exactly how much a life changing amount is to you, but I don’t play on any slots game that doesn’t have a top prize of at least $100,000. And I usually look for one that’s at least $250,000.

6 – Playing Slots

I’m sure this isn’t what you’re looking for if you love to play slots, but the fact is that the slot machines are some of the worst games you can play in a casino. The average house edge on slot machines varies by casino, but it’s usually over 5%. In some areas it’s closer to 10%.

The casino is filled with games that have a lower house edge than slot machines. A lower house edge means you lose less in the long run, so it’s one of the most important things you need to be aware of. The list of gambling activities that offer a lower house edge is long, and some of them require the use of strategy. But it’s worth learning a little bit of strategy to play with a lower house edge.

Here’s a list of better options for slots players:

• Video poker machines, especially the ones with good pay tables
• Poker
• Blackjack
• Sports betting
• Baccarat
• Craps, but only certain bets
• Roulette, but stick with the wheels that don’t have a double zero space

7 – Not Earning Maximum Comps

People Playing Slot Machines Peacocks

When you’re a slots player you need to do everything you can to offset the high house edge. One way to offset your losses is to earn the maximum amount of comps. To earn comps you have to sign up for the slots club everywhere you play.

And when you’re a member of the slots club, you have to remember to use your membership card every time you play. I see slots players forget to put their card in the machine before they start playing.

One problem some players have is remembering to take their card out of the machine when they’re done playing. The best solution for this is to use something attached to you and the card that makes it impossible to walk away from the machine without taking your card with you.

Conclusion

If you want to have the best chance to win more than you lose playing slots you need to avoid making the mistakes listed on this page. The most important thing you can do as a slots player is learn how to make your bankroll last as long as you can.

The best ways to do this are getting as many bonuses and comps as you can and playing slower. Play on machines that have good jackpots and at least you give yourself a chance to win a life changing amount of money when you get lucky.