$100 Slot Machine Wins

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One rule that applies to most no deposit bonuses is the maximum cap odds of winning on a 100 slot machine on cashouts permitted. You cannot cash out all your odds of winning on a 100 slot machine winnings from a no deposit bonus as the casino puts a maximum cap odds of winning on a 100 slot machine on the cashout amount. The biggest ever-recorded slot win went to an LA software engineer, who wagered $100 on Megabucks at Excalibur in 2003. He won $39.7 million, the largest in Vegas history to this day. The money was paid out in 25 annual installments of $1.5 million.

JW17

SO i have heard, but want to know from all of you experts. When playing slot machines you should play the highest level of slot you can afford because the house take is much lower because of the higher limit. Now I have done well on the $5 slots, for instance drove to LV, walked into the high limit slots room, played $5 a spin ond on my second spin hit for $1600. I continue to play the $5 and occasionally $10 slots on my trips, a hundred or two, as I usually am just killing time and drinking. BUT I was thinking of taking a grand and trying the $100 slots. Am I crazy or is it true, there is a greater chance of hitting this than a $.01 slot?

FleaStiff

CAREFUL. The reliable information from the Gaming Authority is only available in certain denominations. The very large slot machines might indicate the identity of the licensee therefore only limited information is available and data is therefore unreliable.

P90

Available information indicates there's no or almost no gain in extreme slot denominations. I don't remember the source, but it goes like 89%, 91%, 94%, 95% for penny to dollar slots, then 96-98% for multi-dollar slots, and actually drops a little at the very top.
Also, however high the return is, it's still under 100%, so it remains a losing proposition.

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FleaStiff

Also, however high the return is, it's still under 100%, so it remains a losing proposition.

Yeah, the casino owner sort of likes it that way.

winmonkeyspit3

Also remember that $1200 on a single spin requires tax declaration, so unless you have losses to offset these you will owe money to the IRS. On a $100 machine a 12x win isn't even very big but will require a hand pay. Just keep this in mind.

pacomartin

Am I crazy or is it true, there is a greater chance of hitting this than a $.01 slot?

Of course it is true. Manufacturers always reward higher bets with better odds.
Do the math! If you improve the player advantage by a few percentage points, but you get them to bet twenty times as much, do you think that the machine makes more or less money per hour?

tsmith

Also remember that $1200 on a single spin requires tax declaration, so unless you have losses to offset these you will owe money to the IRS.

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I was just wondering about this myself the other day, thinking that you'd be filling out forms every 5 minutes on the high-dollar slots, which didn't make any sense to me. So I did a little research and the way I understand it from what I've read, and I could be mistaken, the $1,200 tax thing applies only if the odds on the win were greater than 100-to-1, which would mean that on $100 slots you would have to hit a single win of $10,000 before they slapped you with a W2G.

MrV

Quote:

... the way I understand it from what I've read, and I could be mistaken, the $1,200 tax thing applies only if the odds on the win were greater than 100-to-1

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You most certainly are WRONG there.

tsmith

Okay.