How much profit do casinos make on slot machines?

Most slot machines are games of pure chance, requiring no experience, skill or strategy. As such, they offer each player an equal, random chance of winning a jackpot but, at the same time, offer casinos a constant, stable source of profit. Indeed, with few exceptions, slot machines generate far and away the highest profit and highest percentage of annual revenue for casinos worldwide.

Modern slot machines can be configured for any Return to Player (RTP) percentage or, in other words, the ratio of total ‘coin in’ to total ‘coin out’ over time, according to one of a series of Pay Table and Reel Strip (PARS) sheets, supplied and licensed by machine manufacturer. Once installed, the PARS determines the house edge – also known, confusingly, as the ‘hold’, or ‘hold percentage’ – of the slot machine in question. Theoretically, the house edge of slot machines can vary between 1% and 50%, according to legal jurisdiction, competition and so on, but typically falls within a narrower range, between 5% and 10%.

In terms of total revenue, slot machines typically account for at least 30% of the gambling income of any casino, but can account for a much higher percentage. On the Las Vegas Strip, for example, where high-stakes table games are very much in evidence, 50% is typical, but elsewhere in Las Vegas, in so-called ‘locals’’ casinos, the figure is closer 88%. In fact, according to a report published by the Center of Gaming Research at the University of Nevada, Las Vegas, in 2018, slot machines contributed $7.71 million, or 64.7%, of the total annual revenues for casinos across the whole of the State of Nevada.

What You Need to Know About iGaming in Ireland

Image Credit: Flickr

The world is now chock-full of progressive and well-regulated iGaming markets, with the UK and Ireland offering two prominent examples.

In Ireland, there’s absolutely no doubt that frequenting a casino online is becoming increasingly popular, whether this is through a desktop device or a smartphone (we’ll touch a little more on this later in the piece).

In this post, we’ll take a look at some of the key statistics and trends that define the iGaming market in Ireland, while appraising the size and scope of this industry in the wake of the coronavirus.

  1. The Shift Towards Online Gambling in Ireland

Across both the UK and Ireland, the latest statistics show a clear and exponential shift towards online gambling.

Of course, many will argue that this trend has been accelerated by the coronavirus pandemic and the closure of brick-and-mortar casinos nationwide, but there’s no doubt that iGaming has evolved to claim a larger share of the overall marketplace for a period of years now.

More specifically, nearly half of all wagering activity was conducted online through 2020, up significantly from just over a third (36%) in the previous year. This is considerably higher than the corresponding number across Europe as a whole (where 26% of all gambling is carried out online), as Ireland banked £40.6 million in remote betting receipts and doubled the previous year’s online yield.

In Ireland, sports betting remains the single most popular online gambling vertical, accounting for approximately 41% of the market and raking in an estimated £10 billion in 2019 alone.

So, even as the world returns to normal and coronavirus restrictions are removed through 2021, iGaming verticals will continue to become increasingly dominant in Ireland and the UK.

  1. Irish Gamblers are Big Spenders and Amongst the Biggest Losers

The growth of iGaming in Ireland continues to be driven by huge demand and the traditional Irish love of gambling, with this borne out by statistics concerning individual losses recorded per annum.

More specifically, 2020 saw Irish gamblers lose a cumulative total of £1.36 billion, averaging a whopping £300 for every single adult.

Make no mistake; this makes the Irish the fourth-biggest gamblers in the European Union, according to the very latest industry figures.

Globally, Ireland ranks 14th for the average highest losses when wagering online, just ahead of the UK and behind Finland (£342 per adult), Malta (£334 per adult) and Sweden (£325 per adult).

Of course, such losses may be of concern to some, but they certainly highlight the appeal of wagering and sports betting in Ireland, while also reaffirming just how accessible the practice is in the Emerald Isle.

It’s also interesting to note that the Irish spend considerably more than their UK counterparts when wagering online, with the average Brit betting barely £2.60 per week and a little more than £135.20 during the year.

  1. Irish Gamblers are Prominent and Increasingly Active While on the Move

According to a report conducted by Nottingham Trent University, Ireland is also home to one of the highest percentage share of gamblers in Europe.

More specifically, approximately 59% of Ireland’s 4.90 million population wager online on a regular basis, with this the eighth highest percentage on the continent.

Interestingly, this is a little lower than the corresponding rate of 69% amongst the UK’s 66.65 million population, while a staggering 87% of the 17.28 million people that live in the Netherlands gamble frequently.

The rise in the number of gamblers has also coincided with an increase in the prevalence of mobile gambling in Ireland, with even cheap and affordable smartphones now offering Internet access and the capacity to download apps.

Because of this, more than 44% of all online bets in Ireland are now made from a smartphone or tablet device, rather than desktop computers.

This trend is expected to continue on the Emerald Isle too, with mobile devices expected to account for almost six in 10 of all online bets placed in Ireland by the year 2025. This will mean that online and mobile gambling will finally supersede brick-and-mortar venues in the next four years, even as the world recovers from the impact of Covid-19.

Affordable Android Phones

Smartphones are essential nowadays. We are constantly using them in so many ways. It is not just calling or texting anymore. We listen to music, play games, play online slots, watch movies, use fitness apps and so much more. Even though they are so useful, practical, and versatile, smartphones don’t always have to be a burden on the wallet. In this article, you will find out which affordable devices we recommend.

Android smartphones up to £ 200 – buy cheap mobile phones

The smartphone market is growing rapidly and is still producing more expensive models with all kinds of features and functions. Not infrequently, however, these are rather nice gimmicks for which manufacturers charge a hefty surcharge. The category of low-budget smartphones in the price range up to a maximum of 200 to 250 pounds seems to be almost drowned here. Smartphones from the entry-level segment often already offer all the functions that are needed for comfortable use in everyday life. Above all, basic functions, including classic phone calls, chatting via messenger, calling up news and weather, and surfing the Internet, are also available on cheap smartphones. Even some games can already be played on the devices.

Before buying a new cell phone, you need to know there is no such thing as the perfect device. Is the battery particularly important to you? Do you value a good display very much? Does the equipment have to be convincing? No model under 200 pounds will cover all your needs, so you have to decide what is most important to you.

Test winner under 200 pounds: Xiaomi Redmi Note 10

Advantages:

Full-colour OLED display

Very long-lasting battery (14:10 hours)

Solid Android performance

Good quality quad camera

Disadvantage:

No wireless charging

At first glance, many budget smartphones can hardly be distinguished from their high-end counterparts. The large displays are the main reason for this. The Xiaomi Redmi Note 10 has a 6.4-inch OLED screen, which extends almost over the entire front – only a minimal notch is left out for the internal camera.

The display offers a resolution of 2,400 x 1,080 pixels and always presents content sharply with a pixel density of 409 ppi. In addition, there is a high brightness of 856 cd / m² and a wide variety of colours typical of OLEDs, which even make the entire extended DCI-P3 Covers color space. Only the average contrast values ​​and the standard refresh rate of 60 Hertz differ from the top devices, but they are completely sufficient.

The combination of the Snapdragon 678 processor and six GB of RAM ensure overall good performance. Although this is far behind the high-end devices from Apple and Co., it makes a lot for the price range. Android 11 and the usual apps run smoothly, for the most part, our test PDF is completely set up within 5.1 seconds via WLAN.

The equipment is quite impressive for a 200 pounds model. Wifi 6 or 5G is not used, but the usual basics are covered. These include LTE mobile communications, dual SIM for two nano-SIM cards, a fingerprint sensor, and a memory card slot for expansion via microSD. USB-C serves as the main interface, but there is a dedicated jack output for headphones. NFC and IP53 protection against spray water are also integrated. The quad-camera, on the other hand, only delivers (good) mediocrity, especially in low light.

With a capacity of 5,000 mAh, the battery is one of the highlights of the Redmi Note 10. In practice, it brings our test model through an impressive 14:10 hours of online use. The included quick-charging power supply unit then charges the cell phone again in just 1:18 hours – after 30 minutes, 64 percent are full. As usual for this price range, wireless charging is not offered.

Price tip under 150 pounds: Motorola Moto G10

Advantages:

Long battery life

Great value for money

Good photos in daylight

Disadvantage

Extremely long charging time

Slightly dark display

Good smartphones are also available for less than 150 pounds, as the Motorola Moto G10 proves. However, in this price range, you have to make major compromises.

These start with the display. With a diagonal of 6.5 inches, it is quite large, but only offers an HD resolution of 1,600 x 720 pixels and thus a mixed pixel density of 269 ppi. That’s still okay, but no longer crisp. The LCD panel also provides significantly less color space coverage than OLED screens. In addition, the maximum brightness of only 390 cd / m² is low – in bright ambient light, content on the screen can no longer be clearly seen. The checkerboard contrast of 154: 1 is okay.

The compromises also extend to the performance of the economic device. The Moto G10 has a Snapdragon 460 processor and four GB of RAM. In everyday use, however, this is not a problem, you just shouldn’t expect top performance. The Moto G10 took an acceptable 8.5 seconds to render our test PDF.

The other technical features of the G10 also cover the basics, but not only lack luxury features. Once again, USB-C is used as the main interface and headphones can be connected via the separate headphone output. The memory can be expanded via microSD, a fingerprint sensor and NFC are also available.

The LTE speed of 150 Mbit / s is lower than that of the test winners (but still fast enough) and the protection against water is also weaker with the IP52 certification – at least dripping water should not cause any problems according to the classification. The quad-camera cuts a fine figure in daylight offers 120fps slow motion and rotates videos in FHD resolution. However, the images weaken again in low light.

The highlight of the economic model is the battery. With a capacity of 5,000 mAh, it took our test device online for 14:15 hours, but it also took an extremely long time to recharge. When switched off and using the included power supply, the Moto G10 needed a whopping 03:49 hours – after 30 minutes it was only 21 percent full.

Are random number generators really random?

All fair, modern slot machines rely on a Random Number Generator (RNG) that is hardware-based and, as such, generates random numbers by sampling naturally occurring electromagnetic noise. Random numbers are not derived by means of a repeatable algorithm, or set of rules, so even if the starting point, or any other number, in a sequence is known, the sequence cannot be reproduced at a later date.

The outcome of each spin of the reels of a slot machine is determined by the RNG, which generates thousands of random numbers per second. Consequently, while the outcome may be winning or losing, depending on the exact millisecond when the reels are activated, the player cannot predict what will happen, one way or the other, and each spin is an independent, truly random event. Indeed, it is the combination of fair, random numbers and other mathematical considerations, such as the weighting of the virtual reels, pay table and so on, that provide a casino with its house edge on slot machines.

By contrast, a so-called Pseudo Random Number Generator (PRNG) is software-based and relies on mathematical algorithms to mimic randomness based on a 32-bit integer, known as a ‘seed value’. However, PNRG algorithms can be reverse-engineered, such that the exact sequence of pseudo-random numbers for each seed value can be predicted. In the past, this vulnerability has been exploited by unscrupulous individuals, who have illicitly profited by hundreds of thousands, or millions, of pounds from slot machines at casinos worldwide. Consequently, the PNRG is a thing of the past as far as slot machines are concerned.

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