When you consider that 70% of all casino revenue come from slots it tells you a couple of things: They are very popular. Secondly, they make the casino a lot of money. It makes me wonder why are slots so popular. I guess they have evolved from the old one-armed bandits so kind of primed the mind for all that is similar and advanced. Also, they are a form of gambling which is kind of personal, you don’t need to have any interaction with others, and in this modern day of casinos you can sit down in a half-comfy chair and play to your heart’s content. You can bet a little or a lot and the progressive slots can pay out millions in one spin. To some extent their popularity may be much to do with their addictive nature. It’s said they are the most addictive form of gambling and I can well believe that. The action of pressing a button in a relentless fashion is so easy to do and so difficult to stop doing too.
In truth, slots have to be bad news. You may say: ‘Well, what about that bloke who won $70M, somewhere in Las Vegas?’ Yes, he got lucky and lived happily ever after. But for your average punter betting on fixed odds the longer you play the more you lose. Unless, you get lucky and hit the jackpot!
As the Lotto advert doesn’t say: ‘It won’t be you!’
I’ve played on the slots a few times, mostly online. It has rarely been good news. Start off with a thought of betting £10 and still playing some hours later deep in the red. I’m not talking three cherries. And questioning my sanity. Irritated by my stupidity and showing a complete lack of discipline, which is unusual for me as I have bet all of my life and really should know when to stop. If you don’t have an answer to a question there is no answer. When do you stop playing that session on the slots if you haven’t decided? It will come down to pressing a button or stopping. That continued pressing of the button is easier and faster.
I simply try not to play slots because I do so mostly through boredom. Never a good idea to gamble in any medium.
Fixed odds pretty much guarantee you will be a loser. Compare most slots to playing blackjack. Slots are from 3% - 10%. From what’s I’ve seen and played I’m pretty sure most are at the higher end. Every £100 spent see £10 disappear. And the church of playing a grand isn’t really such a long period of time even betting 20p a spin. So you really are on a loser. If you play far too regular you can lose thousands over the year. Basically, some people have lots millions and simply cannot stop as they are addicts and it’s just part of a life of losing.
A couple of my relatives have had problems betting too much money on slots. I have no idea what they lost but it is thousands. You don’t request to be barred from playing slots without losing most of your saving. It’s a shame that realisation didn’t come early. However that is the journey of understanding for most with a gambling problem.
But don’t get me wrong, slots are all about personal choice. As same as the drinker, smoker, gambler, risk taker, it’s all part of life for someone. While one is a winner another is a loser. Gambling can and will teach you valuable lessons in life. It is brutally honest and tells you as it is. You simply have to listen and then you regain control.
So are slots a worthwhile gamble?
It very much depends on what you enjoy. If when it comes to gambling slots are your favourite then I wouldn’t say not to play but you may need to be extra careful about how you bet and set a certain amount to gamble. If you start playing without any idea of how much money you are going to bet you really are looking for trouble. If you don’t set a loss limit for that session or day then I’d advice you don’t bet at all. Just be careful because you don’t want to create a problem. Also, remember the house edge on slots can be colossal and if you are in the realms of 10 – 15% percent you really should look for others to play.
Have fun but not at the cost of your finances or mentality.
Photo: Pixabay (free)