The odds of winning that jackpot, as we determined earlier, is 1/1000. If we set the jackpot as $900, and charge $1 per bet, the payout percentage for that game will be 90%, or $900/$1000. Of course, no one would play a slots game which only paid out once in every 1000 spins, which is why there are various smaller payouts programmed in. Before moving to slot odds, it is important to know what a slot machine is. Slot machines are a game type with no winning strategy just like other casino games. It doesn’t require any proper knowledge or skills to get maximum profits by winning at slots. Slot machine odds are easy to calculate. The odds are basically the chances of hitting the jackpot in a slot machine or the chances of hitting any winning combination. How are the Odds Calculated? In all the modern slot machines the... What this means is that the chance of the player hitting the jackpot in one reel is 1 to 64. If all the reels in the machine are set up that way, then the chance of hitting the jackpot symbol in all the 3 reels is 262,144. This means that for every player the chances of hitting the jackpot are very low. Your odds of winning are better than this, as you can hit five bells, five whistles or five of any other set of symbols, so on this machine your odds of any set of five are actually 5 x 0.032%, or 0.16%. So once in every 625 spins of this hypothetical machine, you’ll hit your set of five identical symbols for the jackpot. This plays a huge role in determining the odds of the jackpot. A good example was in 2003 when the world record jackpot of Megabucks machine paid out a mind-blowing $39 million. According to IGT, the company behind this game, the odds of winning the jackpot were approximately 1 in 50 million.
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