Dear Mark,
You recommend always playing the full coin amount
when playing progressive machines. I only wish my
wife had heeded your advice when she put one coin
in a $250,000 progressive and hit the big jackpot.
Her payout was just pennies compared to the possibility
of an early retirement. Hopefully, this misfortune
does not fall on a future reader. Jeff R.
The
one-coin cataclysm of playing a progressive and hitting
it occurs more often than you can ever imagine, Jeff.
Readers take note: Next time you are in a casino, look
closely at a progressive slot machine: Most machines
will indicate how many coins the last player had inserted
before leaving the machine. The indicator remains that
way until the next player comes along and inserts more
coins. I have walked past innumerable progressives over
the years
revealing that the
past player, perhaps Jeff's wife, had improved the
shining hour for the casino by tossing in one coin.
The main reason for playing a potentially life-altering
progressive machine is that the jackpot can actually
reach a size in which the player has a positive
expectation. This does not mean the house suddenly
loses its huge built-in edge, only that the money
deposited earlier with no one hitting the "big
one" has pushed the jackpot to the point where
it overpays.
Note that when a progressive jackpot is hit, despite
its size, the money being paid out is collected
from previous losing players, like Jeff's wife (I
don't mean to rub it in, Mrs. Jeff. I'm sure you
feel horrible) and held by the casino in trust for
the eventual winner who was keen enough to play
all the coins allowed.
