Tuesday, July 10, 2007

Gimme some progressive jackpots

Yeah alright im hooked. A buddy of mine plays online casino poker at a certain site but man, all you have to do is gimme some slots and a bucketful of patience- and it will pay off in the end, and has. I admit I haven’t won millions yet, but if I would have a dime for every time a got a complimentary free spin- I would have many dimes. I’m not the only one hooked I’m sure; where else can you wager so little and get such a huge payout? Not in roulette and blackjack –let me tell you that much. The reason being they don’t have a progressive jackpot where you can win on a single bet. I’ve been told time and again that slots have a worse house edge than most table games so here’s the reason why I play it anyway. For example take a $500,000 progressive jackpot, which could be won with a $1 bet. The odds of winning, considering a 90% payback rate and a house edge of 10%, are 50,000,000 to 1. If the machine is spun about one million times a year, the casino will probably pay up every half a year. Now, compare that to blackjack with a house edge of 0.5%- so if you buy $100 in chips and bet $5 at a time then only after a few years will you reach $500,000. The odds of achieving this though would be about 10,000 to 1, which is still better than the odds in the slots example give above. The reality is that this never happens, but it can with slots, even with worse odds. The average person can play slots and make $500,000 from $1 wager, but even the luckiest blackjack player will needs thousands of winning hands at a low wager amount. Just thought you should play slots a bit more, poker is SO overrated.