With online slots of games to choose from and the play from anywhere, it’s no wonder slots have become the go-to for online casino players.  But can you win at online slots over the long run? Many players have doubts, thinking the odds are stacked heavily against them.  At their core, online slots are virtual simulations of physical slot machines found in brick-and-mortar casinos. With each spin, the RNG spits out a random sequence of symbols that land on the reels in seemingly random order. The game has no memory, so each spin is completely independent of the last.  This is critical to online slots. No matter how many spins have passed, the odds do not change. A winning or losing streak does not impact your chances on the very next spin. The RNG ensures completely random outcomes every time.

Slot machine payback percentages

The odds of any spin winning or losing are reflected in the game’s payback percentage. This is the amount of money wagered that the game pays back to players over time. If a game has a payback of 95%, it will pay back $95 for every $100 gambled on it. The longer you play, the closer the game’s actual payback will get to the stated payback percentage.  You might play five spins and win $200, even on a 95% payback game. Over thousands and thousands of spins, the wins and losses will even out to that 95% rate.

One key point about payback percentages: they include jackpot wins in their calculations. This skews the stats, as only a tiny fraction of players hit a jackpot. When you remove jackpot wins, the normal payback rates on slots are much lower. Check more info here https://capacityacademy.com.

How much do players lose?

If most slots have payback rates under 100%, that means the casinos have an edge built into every game. Over time, players will lose money. This is how casinos profit. But how much do players typically lose? While individual game stats are tough to acquire, aggregated data provides overall loss rates for players:

  1. British slots players lose an average of £68 for every £100 wagered
  2. Australian slots players lose between 10% to 20% of money gambled
  3. American slots players lose around 5% to 15% of bankrolls on average  

As these figures show, slot players lose between 5% to 15% of the money they wager, on average. The longer you play, the closer your results will get to these loss rates. Even frequent big winners end up losing over time.

Slots be profitable in the long run

Here is the bottom line on whether slots can be profitable long-term: No, except for a tiny percentage of players who get incredibly lucky. The math dictates that the house will always win in the end. But here are some silver linings:

  1. Winnings in the short term are possible – With the right slot and some luck, you can win, even big pots. Just don’t expect it to last forever.
  2. Comps and bonuses add value – Even if you lose over time, you can still come out ahead with enough freebies and perks from casino loyalty programs.
  3. Major jackpots change lives – A minuscule number of players do hit gigantic jackpots that make up for all lifetime losses. For everyone else, slots remain an entertainment expense.