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Slots by Michael Shackleford aka Wizard of Odds
The first gambling machine that could indisputably be called a slot machine was a simple, three-reel game titled Liberty Bell. It was invented by Charles Fey in San Francisco around 1896. Back then, slots were often confined to bars and sometimes paid out prizes instead of coins to get around anti-gambling laws.
In 1963, Bally Gaming created the first electronic slot machine, allowing for faster game play and larger jackpots. The first video slot machine, whose name I don"t know, was created by the Fortune Coin Company in 1976. Its first placement was at the Las Vegas Hilton. Then, in 1996, WMS created the first bonus round as part of the game Reel "Em In, which is still alive and well today.
Land Based Slots
Today, land based slot machines are a major form of casino revenue. At the time of this writing, slot machines (including all types of machine games) had 74% greater revenue than all other forms of gambling combined in the state of Nevada, based on the 12 month period ending Jan. 31, 2017*. 
So, it would be easy to say that slot machines are big business.
Online Slots
In the world of Internet casinos, online slot machines also provide a huge percentage of the business for operatiors. Many software providers clearly put an emphasis on slot machines, as evidenced by the sheer number of options, sophisticated graphics, and game designs compared to table games. In fact, many software providers focus solely on slot machines creation. At online casinos, video slots, sometimes called "pokies," make up the vast majority of slot games. Most are rather dated compared to what is currently available in land casinos, at least in my opinion.
At the end of the day, the latest slot machines are very much like the original Liberty Bell -- glorified spinning reels. Random numbers determine where the reels stop, the machine scores whatever patterns are formed on the screen, and the player is paid accordingly. The math is carefully done to ensure the theoretical average win hits a desired target, like 92%.
Mathematically speaking, slot machines are a lousy bet. Returns can vary widely but most fall in the range of 88% to 95%. That equates to a house edge of 5% to 12%.Compare that to many table games and video poker with a house edge under 1%. To make matters worse, slot machines have a very fast rate of play, so expected losses per hour can mount quickly. To anybody looking to stretch his gambling dollar, I highly recommend leaving the spinning reels alone and switching to a game that requires some skill, like blackjack or video poker.
However, I"ve been preaching that to slot players for 20 years and I don"t think I have made a convert yet. Something about the spinning reels seems to hypnotize slot players into a state of bliss that no other game can compare to.
Our Resources
If you must play slot machines we suggest selecting one with a high payout % which can be compared here. We hope the other resources available here will help you find games and casinos to your liking:
- Slots Bonuses
- Slots Tournaments
- Slots Jackpots
- Slots Guides
- Free Slots
One good thing about slot machines is Internet casinos love slot players, because they are so profitable, so players are rewarded with the best bonuses. Here we show you what we feel are some of the best bonuses and at the most reputable casinos. Wherever you end up playing, remember to keep it fun and in moderation.
Types
Whether you call them Slots, Pokies, Fruit Machines or One Arm Bandits, one thing that’s unanimous among players, the games are a popular choice for many across the world. There are many variations including but not limited to:
- Classic or Traditional Slots: three reels with 1, 3, 5 or 9 line pays
- Video Slots: typically 5 reels with up to 100 lines or more
- Themed Slots: ranging from Action, Romance, Sci-Fi, Movies, Celebrities, TV Shows and more
- Bonus Slots: more chances to win with features like Free Spins, Scatters, Wild Symbols and Bonus Games
- 3D Slots: realistic graphics including animated characters that seem to come to life
- Progressive Jackpots: a percentage of all wagers placed goes towards the prize pool and continues to grow until it is won
There are a growing number of contemporary Slots with 243 Ways up to over 1024 Ways to Win and some that reach even higher. Coin denominations start at $.01, $.25, $.50, $1.00, $5.00 and high limit. If the lack of skill doesn’t grab your attention, the bells, whistles, colorful graphics might.
* source: gaming.nv.gov
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