DANIA BEACH, Fla., Dec. 5, 2017 /PRNewswire/ -- The author of America's #1 best-selling book on casino gambling and travel says he has developed a simple formula to calculate the theoretical payback percentage on slot machines at Seminole casinos in Florida and he wants to share it with the public.
Steve Bourie is considered an expert on slot machine payback percentages. He has published an extensive list of them, for each of the past 25 years, in his annual American Casino Guide book. Bourie compiles his list from statistics that are released by gaming regulators in various states. He also publishes them on his website at https://www.americancasinoguide.com/slot-machine-payback-statistics.html
Some casinos have their machines set to pay back at a higher rate than others and Bourie enjoys finding out which ones offer the highest returns. Besides his book, he also has a YouTube channel (https://www.youtube.com/americancasinoguide) which has garnered more than 19 million views. The channel includes his two-part investigative video "Where are the "loosest" slot machines in America?" where he takes a look at which casinos offer the best slot returns in the U.S. in several categories: Indian casinos, riverboat casinos, casinos within a specific region, and individual casinos.
"Not all casinos release slot payback information to the public," says Bourie. "And Indian casinos are especially guarded concerning the payback percentages on their machines. Out of the almost 500 Indian casinos in the U.S. only two, both located in Connecticut, release that information to the public: Foxwoods and Mohegan Sun."
Bourie also likes to play in casinos and during a three-year stretch of play at the Seminole Hard Rock Hotel & Casino, in Hollywood, Florida, he says he was able to analyze their players club to determine the theoretical return on their slots and other electronic gaming machines.
It has been estimated that the six Seminole casinos, combined, generated about $2.3 billion in profits (including table games) in 2016 and the Tribe does not release information on slot payback percentages at any of their properties. The three Seminole properties in South Florida are the only ones that have competition from other local casinos and Tribal representatives will say only that the payback percentages on their machines are comparable to those other casinos.
All Seminole casinos share the same player's club and, because it is structured in a unique way, Bourie says he was able to create a simple formula for players to determine the theoretical payback percentage on any machine. However, he says it does not apply to multi-denomination machines, in which players can choose among several sizes of betting units.
Anyone playing with their player's club card inserted into a machine will earn comp dollars that can be spent like regular dollars at hotels, restaurants, bars, lounges and retail stores at any Seminole casino in Florida. "The key to calculating a machine's theoretical payback percentage is to track how many comp dollars you earn for putting exactly $100 in play through a machine," says Bourie. "For example, if you bet $1 a spin, simply track how many comp dollars you have earned after making 100 bets. Once you know that number, you can use the mathematical formula that I created to calculate the theoretical payback percentage for that machine. It's very simple math and anyone can do it."
Bourie's formula is revealed on his website in an article titled "An Analysis of Slot Machine Payback Percentages at Seminole Casinos in Florida." In it, he explains how he came up with his formula, as well as how all casinos use theoretical payback percentages to determine their expected profits.
Further, Bourie's article gives examples of actual Seminole slot machines he has tested to hypothesize average payback percentages for several denominations. Plus, he takes an educated guess as to how slot paybacks at the Seminole Hard Rock in Hollywood, might compare to the local competition, and if slots at the Hard Rock in Tampa are set to pay less than those in Hollywood. To read the article, go to https://www.americancasinoguide.com/slot-machines/an-analysis-of-slot-machine-payback-percentages-at-seminole-casinos-in-florida.html
The new 2018 edition of Bourie's book, American Casino Guide, is $18.95 at bookstores and at amazon.com. The book is also sold, at a discounted price of $13.49, at https://www.americancasinoguide.com/order-now.html
SOURCE American Casino Guide