The theory behind this is easy, though understanding whether a slot machine is loose or not requires a considerable amount of your time, which unless you spend time (whether working or otherwise) at a venue where you can monitor it all day, could be difficult.
If you have ever heard about slot machines being “loose” and you weren’t sure what the term meant, the chances are that it is exactly what you guessed. Essentially, you know if a slot machine is loose, because it has a higher payback percentage (meaning it pays out more often).
However, it is crucial to note that the probabilities that are involved with slot machines are unclear, which basically means that there are now ways of knowing what the payback percentage of any slot machine game is.
Because the RNG (Random Number Generator) is programmed so that each symbol of a slot machine has a certain probability, it doesn’t mean there is any way of being able to tell what the odds are of an outcome; the purpose and the programming of the random number generator is such so that each one has an equal chance.
Loose slot machines exist for a number of reasons, especially in casinos. Any casino that claims a payout percentage that is in the high 90s must have a large number of these slots in order to avoid any aspersions of false advertising.
Also, it is sound business. Ensuring that there are a high volume of slots which pay out regularly, not only keeps the customers happy, excited and stimulated, but it also attracts new customers.
To most players, the psychological thrill that comes with winning, via the triggering of brain cells that release of endorphins and adrenaline causes a sensation of euphoria and they forget how much was wagered in order to achieve that win.
Identifying loose slot machines in casinos
Ultimately, these are the slot machines that most visitors to a casino want to play, because they know that they have a greater chance of winning more often.
Casinos also want players to see each other winning the jackpots, because the excitement that comes associated with this entices them to play. As a result, casino executives are aware that these slots need to be in locations that are exposed to a lot of footfall and which are close to the most popular areas.
While central vicinities are a good place, many will also be not too far from the nearest bar, anyone waiting for a drink can see these machines paying out and will invariably gravitate towards them when they have been served.
A classic error that many gamblers make is taking the word of another gambler, because this usually isn’t based on theory or statistics; even anything that can be measured to form a reasonable justification.
It is usually based on anecdotal evidence; what they have achieved on that particular machine or someone they know. However, if they can back this up over a sustained period of time, then they may just have a point.