Eyeofngt
12-30-2008, 09:36 PM
1-Slots stop on any possible set of stops with equal probability
This is not true of modern three-reel slot machines. Some stops are much more probable than others.
2-Slot machines are programmed to go through a cycle of payoffs. Although the cycle can span thousands of spins once it reaches the end the outcomes will repeat themselves in exactly the same order as the last cycle.
Not true at all. Every spin is random and independent of all past spins.
3- Slot machines are programmed to pay off a particular percentage of money bet. Thus after a jackpot is hit the machine will tighten up to get back in balance, and when a jackpot has not been hit for a long time it is overdue and more likely to hit.
The only true part of this is that they are designed to pay off a particular percentage. However the laws of probability dictate that the longer the machine is played the closer it will come to the target payoff, even with every spin being completely random. A jackpot is equally as likely to be hit on every spin, regardless of past outcomes.
4- Hot/cold coins are more likely to pay off.
Whether the coins are hot or cold does not matter. It also does not matter how long it has been since the coin was last played.
5- Machines pay more if a player does not use a card.
The mechanism that determines the outcome of each play does not consider whether a card is used or not. Not considering cash back and comps the odds are the same with or without a player card.
6- If I use a slot card will the casino report my winnings to the IRS.
The use of a slot card will not change whether you have to pay tax or not. If you get back $1200 or more in a single spin, this includes your wager, then the casino will report the win whether a slot card is used or not. The casino does not add up the smaller wins and report them to the IRS. Aside from the big wins, it is your decision to report the smaller wins.
This is not true of modern three-reel slot machines. Some stops are much more probable than others.
2-Slot machines are programmed to go through a cycle of payoffs. Although the cycle can span thousands of spins once it reaches the end the outcomes will repeat themselves in exactly the same order as the last cycle.
Not true at all. Every spin is random and independent of all past spins.
3- Slot machines are programmed to pay off a particular percentage of money bet. Thus after a jackpot is hit the machine will tighten up to get back in balance, and when a jackpot has not been hit for a long time it is overdue and more likely to hit.
The only true part of this is that they are designed to pay off a particular percentage. However the laws of probability dictate that the longer the machine is played the closer it will come to the target payoff, even with every spin being completely random. A jackpot is equally as likely to be hit on every spin, regardless of past outcomes.
4- Hot/cold coins are more likely to pay off.
Whether the coins are hot or cold does not matter. It also does not matter how long it has been since the coin was last played.
5- Machines pay more if a player does not use a card.
The mechanism that determines the outcome of each play does not consider whether a card is used or not. Not considering cash back and comps the odds are the same with or without a player card.
6- If I use a slot card will the casino report my winnings to the IRS.
The use of a slot card will not change whether you have to pay tax or not. If you get back $1200 or more in a single spin, this includes your wager, then the casino will report the win whether a slot card is used or not. The casino does not add up the smaller wins and report them to the IRS. Aside from the big wins, it is your decision to report the smaller wins.