The gaming industry is a billion-dollar business. What many people probably don't realize is that slots, video poker machines and other electronic games generate the majority of revenue for the gaming industry. Why are slots real money makers? In this article we explain why slots are reliable money makers and what role the so-called "time on device slots" play in them.
In the economy people often talk about supply and demand. When the price of something rises, demand will fall. It is important that price transparency exists. We know almost all the prices of products and services before we decide to pay. There are exceptions. When you go to the doctor, for example, it is (often) not clear in advance what you have to pay. Nothing is known about the price of slots, so the laws of supply and demand do not count. For casino companies it applies that they express the price in terms such as the expected house advantage. This concerns the income in the long term. For players, the price is very different, due to the short interaction that players have with a slot. As an example we look at a slot with a house advantage of 5%. This means that 5% of all bets will be withheld in the lower term. This flows to the casino's greenhouse. If € 10,000 has been claimed on a slot, it is expected to pay out € 9500. This results in a profit for the casino of € 500. From the casino management perspective, the price is this 5% that is expected to be collected from all bets on the slot concerned.Bet € 0.80 The player will express the prize in the cost per spin. A player bets € 5 per spin and loses everything. The player will indicate that this spin cost € 5 and not € 0.25. A player does not know what prize to pay during a gambling session. For that, it may be necessary to play for years consecutively at a slot to experience the ultimate house advantage.
Boost the price
The casino sells an experience and makes clever use of the little hope that many players have of winning a great prize. There are so many different outcomes when players play a slot. So after 3 minutes of playing you can be a real buyer by winning a jackpot. Another scenario is that as a player you slowly lose your money. This has to do with all the variables that exist in the paytable of a slot. All payouts are visible to a player, with each bet again yielding separate winnings. Although the player sees what the odds are, it is unclear what the chance is of generating a winning combination. However, there is the fear that experienced players notice this. Many studies have been done into this. And what turned out? Even experienced players didn't notice anything. This knowledge is used to get as much return as possible from their largest "money makers", the slots.Payout table Hot Peppers
Casino companies play the game well
In the "good old days" as a player you pulled the lever of a one-armed bandit and you won or lost something. The current slots are much more advanced. Much more ingenious and developed to let you play longer as a player. Nowadays, as a player, you can make a slot with several thousand paylines, creating many opportunities to win. A player can bet a euro and win a duppie on 5 of the 1000 paylines. For many players, this feels like a partial victory and attracts attention. Today's slots are designed to keep players locked in for a long time. There is quite a bit of research behind this. And all with the aim of extending the duration of stay (time on device). The so-called "time on device" slots are immensely popular. Manufacturers get everything out of the "cupboard" to respond to the emotions of players, to confuse and manipulate players. As mentioned above, players do not have a clue as to the price that it costs to play. It can also be that the same game has a different programmed prize somewhere else in the casino. The games make players think that big prizes are being won. How often do you see a winning combination, accompanied by a lot of bombing? This while the profit is really less than the bet. Yet the slot gives you a different feeling as a player. The partial losses are experienced as a profit, research has shown. Many slots also create an almost win experience, for example when you need three symbols for the jackpot and you just miss that last symbol. This feeling ensures that players stay longer. It is not just the game itself that keeps players sitting longer. The ergonomics are also being considered. Players love comfort and for this, other branches are considered. How can a lock be designed so that players have enough legroom? But in such a way that they get the feeling that they are in the game. Game developers try to increase the "time on device" in all sorts of ways. Slots that are less about taking risks, but more the experience – the hypnotic effect. And then there are the casinos that try to extend the length of stay with all kinds of promotions, free drinks and food. And we players all fall for it.