|TOP ONLINE CASINOS|
Exclusive Bonus Up to NZD$1000
+ 100 Extra Spins
Up to NZD $750 in Welcome Bonuses
+ 100 Free spins
|TOP ONLINE CASINOS|
|LOGO / REVIEW||RANKING / PLAY|
The theory of supply and demand argues that when a product increases its cost, market demand decreases, it is a law of the economy that is always fulfilled. Unlike the expenses that you make daily in purchases, visits to the doctor or the mechanic, you can see the cost of most of the products to make us the idea of a budget before spending it, but this is not the case with the machines Slots and breaks with this economic theory since most players do not imagine the real price of their bets behind this game, therefore the supply and demand here does not exist.
Many operators of casinos believe that the price is determined by what is known as "house advantage" a percentage of each bet made by each player that is attributed to the casino, as a long-term compensation that is included in the games. Each limited interaction that each participant makes in their favorite game will result in a price.
Explained in another way, imagine that the casino has a house advantage of 10%, a standard measure in the industry, in the long term, that 10% of each of the bets placed in the said casino will be returned. What it means is that if you, for example, in more than 2 million drafts you accept $1 million in bets, you must pay $900,000, and then the casino would be receiving a total of $100,000 in profits.
In other words, the "price" it charges is that 10% for each player who participates in the long term, from an administrative perspective. However, for individual players, the price will be determined the cost of each spin you make, if for example a participant bets $1, rolls the reels and does not win any prize, then the cost will be the same as the price and not the 10 cents according to the previous example.
Both examples are a sample of how the advantage of the house determines a different price, but both are correct in certain aspects, in the second example, although the game has raised $1 for the roll, at some point 90 cents will be awarded to another player.
Some players are clear about this simple rule of the house advantage, but since they usually only participate in a casino for around one or two hours, they always expect to get a big prize that can compensate for the big losses invested. For this reason, it is very likely that it will take a long time to play in the slot machines so that the long-term advantage of the house is a little more noticeable.
The slot machines in general terms represent greater gains compared to card games such as poker or blackjack and represent the most lucrative game for the casino.
Casinos, in general, do not sell participation in games, but rather excitement and fun, in addition to the hope that is actually determined by luck and chance. However, some slots comprise 4 percent as a house advantage, and this from the perspective of the administration can mean big profits in a single night.
The prizes that are obtained in a slot machine are determined by a payment table where all the winning symbols are listed and the possible combinations that award prizes according to each symbol. This table always remains visible to the players, but what remains hidden are the probabilities of being able to get a combination with winning symbols, this is what is known as the "long-term advantage of the house" of each bet made by the player.
Because this information always remains hidden from the players, the administration is free to increase the percentage of the house advantage without the participants knowing it, and in this way acquire a higher income for each bet of each player in the slot machines, and profit from this hidden information.
For their part, managers do not want to raise abruptly the percentages of the house advantage to acquire more income, since, despite the attraction of the game, there may be a player who realizes these increases and decides to migrate in another place and subtract income and excellence to the casino. Therefore, the increases should be considered as minimum and gradually so that players do not realize.
This is how the casino operators work, maybe you get scared or maybe you think it's just a conspiracy of those who do not agree with the games of chance. But before considering playing in a slot machine, make sure of the advantages of the house and think if it is really worth investing money in a game that is apparently governed by the odds and luck. There is no doubt that it is attractive and you can get money, but also reconsider the losses it can generate.