Dear Mark,
I go to Atlantic City about two times a month, stay
overnight and lose a bundle. I just love it. My question:
I play a “Reel-em-in” 25-cent slot machine.
Now you can bet up to 45 quarters on these machines.
Well, after losing so much money, I found these same
machines in the nickel denomination. Now I find that
I can play 45 nickels and it is only $2.25 a hand compared
to $11.25 a hand on quarter machines. Would it be better
to play a dollar slot with 2 coins in ($2) or play the
nickels at $2.25 with 45 nickels in? Same with the quarter
slots. Play with 45 quarters at $11.25 a hand or play
a $5 slot with 2 coins in ($10.00)? I always thought
the higher the denomination machine, the better your
chances of winning. Please give me your feedback. Loretta
K.
You have many questions, Loretta, but let’s start
with “lose a bundle and just loving it.” I
can’t help but think: are you really having fun
when you’re losing? Taken as known, the casino
has but two goals: separate you from your money and
put a smile on your face. Evidently with you they have
achieved their objective. Your style of play creates
this scenario. Insert multiple coins, play for a short
while, lose, go home.Essentially, you are aggravating
an already bad situation
by risking more, at a much faster rate, on a game
with a high negative expectation. For every dollar
you insert, Loretta, the casino is going to keep
around nine cents, and it doesn’t matter whether
you pump in 5 or 45 quarters. This is a certainty
for two reasons. First, slot machines are pre-programmed
to return a certain percentage to the player and
second, New Jersey casinos, by law, make public
the average percent of each wager that is returned
to the player.
Quarter machines (25¢) in Atlantic City return
on average 90.5 cents of each dollar played compared
to 91.7 on a dollar machine. Hardly a break on the
Jersey Shore when you bump up to a higher denomination
machine.
Furthermore, weigh the 90.5¢ return on Jersey’s
quarter machines against the following gaming jurisdictions
and you’ll notice that Atlantic City slot machines
are no bargain: Colorado 94.1; Illinois 92.4; Iowa
92.4; Nevada 94.7.
My gambling recommendation to you is as follows.
Bet a whole lot less, like nickel or quarter machines
with a five coin maximum, or make nominal wagers
on some of the smarter bets I suggest weekly in
this column. Then, write me back and let me know
how much more you enjoy gambling when you break
even for a trip or, better yet, actually win and
put a few of the casino’s dollars in your purse.
