Everybody Loves the Wheel of Fortune Slot Machine!

Are you looking to win the Mega-Millions on your favorite slot machine?  You’re going to pay a hefty price.  My recent trip to Harrah’s left me coming home shaking my head.  First, because I took a beating financially, but there was another reason.

We stayed over the weekend and the crowds were very reasonable.  There were people there, but the crowds were not large for a weekend, by any means.  The only large crowd I saw was for the Wheel-of-Fortune slot machines.  They only have one row of these machines (about 15 or so), so Saturday night folks were lined up behind one another waiting for a seat.  Meanwhile, you could play any other game in the house you wanted with relative ease.

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Wheel-of-Fortune is a game that has been out for years, but continues to be a crowd favorite because of the large, usually progressive, jackpot.  Dreams of instant riches attract old and young.

I get it.  I want to win the lottery too, but if you’re a regular gambler, PLEASE stay away from these machines.  How do you think they are able to pay that HUGE jackpot?

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Two ways.  One it’s easier to hit the regular lottery than win the Jackpot on Wheel-of-Fortune, the odds are millions (and I do mean Millions) to one, so it’s not paid off very often.

The other way is they keep more of your money.  They are the WORST paying games in the entire casino (Keno might be worse, but few play that).  They are usually set toward the minimum payout of between 80-85%.

Can I please just change ONE person’s mind about playing these machines?

Wheel of Fortune Slot Machine

Wheel of Fortune Slot Machine

If 80-85% payback doesn’t seem like much, let’s take a look.  You play dollar slots.  $3 per spin.  Let’s say you play on the slow side to make your money go further.  You play a spin every ten seconds (most play faster.)  That’s 360 spins per hour.

That means, on average, every hour you sit in front of that machine you lose between $216-$162.  WOW.  I hope you have a good job.

But you only play the 25 cents machine because you’re much more frugal.  OK.  You only lose $54-$40 per hour.  Much better, you only have to be a lawyer instead of a doctor to support that habit.

I know, I know, slots are fun, but c’mon that is unbelievable.  Play $5 a hand on 9/6 Jacks or Better Video Poker (99.54% payback) and you will lose on average $12.50 per hour (based on 500 hands).  Some places will give you enough cashback and comps to cover that and then some.  Granted the most you can win at one time is $4000, but $12.50 sounds a lot better than $216 per hour.

At the very least stop playing the large progressive machines, but best case scenario start playing video poker.

 

About Greg Elder

I was 37 years old, a husband and father, a former teacher, college and high school basketball coach, and a business owner, I decided to give it all up (Not the husband and father part) to take a shot at pro gambling. I was coming off a job I hated selling insurance, and I vowed to do something I was passionate about. For the next year I would spend 12-15 hours a day researching, studying, and practicing advantage gambling techniques. The goal was to see if I could sustain our current lifestyle as a professional gambler. I wanted to find out if casinos really could be beat. At the time, I thought it may be the biggest mistake of my life, but my intentions were to have fun trying. It has been an interesting few years since that journey began. My feature book GAMBLERS FIGHT BACK has been released and can be purchased on my author site at www.GREGELDERAUTHOR.com I would consider my pro gambling career to be a success on all fronts. I didn't win millions of dollars, but I was able to enjoy every minute of it. It brought an excitement and passion back into my professional life. It has helped lead me to a writing career that I had no idea I even wanted before this challenge. I was able to write a book that shared with others exactly what I learned along the way.. Gambling professionally is not easy, but there are certain things the average gambler can do to increase their chances of success tremendously. That's the information I try to pass along to my readers.

5 Responses to “Everybody Loves the Wheel of Fortune Slot Machine!”

  1. I never really thought of how much money I am really loosing playing the Wheel-of-Fortune Slots! Thanks for opening my eyes to this fact.

  2. That is very interesting, You’re a very skilled blogger. I have joined your feed and stay up for in quest of extra of your excellent post. Also, I have shared your site in my social networks

  3. Wheel of Fortune slots has never been my favorite, so I find it uber easy to avoid most times. However, if I had some interest in it and there were people lining up to play it, my instinct would tell me to go play other games. Too much attention on one particular slot game makes me suspicious and skeptical.

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