In today’s world of online gambling, how much do casinos pay for slot machines?
Most of the inexperienced gamblers directly go for the slots once entering the house. Whenever you want something easy and fast, slots are a great idea. Therefore, slot machines are making pretty good money for the online casinos in the US. Even if you do not know how to play slots, you can easily learn. That’s also one of the explanations about how slot machines became popular.
Nevertheless, you do not even know how much establishment is hidden behind these slot machines. Whether it’s an online or traditional casino, it’s not always easy to find the best slots. Besides, in today’s competitive gambling world, the best casinos must do their best to offer to the gamblers. Otherwise, they will just go to the competitors.
Hence, it’s a lot of money. You most probably have no idea how expensive the slots can be to casinos. Let’s view all the key points that casinos should usually consider when picking the slots!
Software Providers and their Tasks – Who Creates the Slot Machines?
What Are the Best Casino Software Provider Companies Today?
Now, let’s talk about software providers of the casinos. And the first one that we’re going to talk about is Real Time Gaming, also famous as RTG. It’s one of the earliest software providers that was created in 1998 in the American State of Georgia. You can find a massive amount of the most popular games that RTG has developed.
Playtech is one of the most famous software providers in the industry. They also offer a great diversity of games. However, the variety of slots is one of the main things they are famous for. Playtech offers slots that rely on Marvel Comics which is their most popular series.
Surely, we had to mention Microgaming in this list. They started their way just as one of the online casinos when online gambling started. Later Microgaming started turning its business into software and provided other casinos with software. There are many unique games that this software has brought to the industry.
Net Entertainment, also known as NetEnt, has its story of success behind it. They started their business in 1996 by the huge casino operator that was in Islandia. Then, they gradually started expanding. You can find games, slots that NetEnt offers at most of the greatest online casinos. And last but not least, Betsoft. Animation and impressive 3D graphics that the software offers are what will instantly grab your attention.
How Much does it Cost to Create a Slot Machine?
There is enough work needed for every slot machine. And each machine has three main elements that are cabinet, LCD, and cash handling device.
Depending on the level of the elements, they all have different ranges of prices. Nevertheless, casinos already know the market. Hence, they can have an idea of how much approximately they will have to pay for the components of slots machines. Let’s view some of them.
So, let’s start with the cabinets. Their price range is between $500-$2000. It just depends on whether the casinos are ordering many slots at once. In general, the price is pretty high since cabinets involve some other components. The source of power, lighting, buttons, sounds, etc. They all count, hence, affect the price. Yet, there is a way to save some money when it comes to cabinets. It’s enough to order products for cheaper prices that have no branding.
Next, LCDs. Their price relies on the facts such as size, the quality of pixels, etc. The screen may come at different prices, so, casinos have to consider them when thinking about the price. Besides, gambling is advanced as ever today. Therefore, gamblers want to see touchscreen technology at casinos. That increases the price. So, the price for the LCD usually varies in the range of $250-$300. Hence when thinking about how much do casinos pay for slot machines, note these elements too.
Some Other Elements to Consider
Besides the components that we mentioned above, there are some other elements that casinos should consider. One of these components is an embedded gaming board that is used to install the software of the games. The price of the board can be around $100-$1000.
The more you play, the more games you can get covered. Next is, software of the game the price of which begins from $3000. And if online casinos in the US additionally find the developer for installing, it will cost more. VGA converter is one of the main parts of the LCD. It costs around $50-$100. And one more element – I/O evaluation board which also affects the cost by plus $100-$200. Add these elements too to your calculations of how much do casinos pay for slot machines.
How Much Do Casinos Pay For Slot Machines? Things to Consider When Purchasing One
If we are talking about the real slot machine, then, there are a range of factors that you need to take into consideration. First of all, the size of the slots. Remember that the real slots are big enough. Make sure you have enough space to place them. Also, think about the placement of the machines.
Consider the budget. So far we have been viewing how much do casinos pay for slot machines, hence, you need to make sure you can afford the sum to pay for machines. Besides, the slot might need repairs sometimes, so, have some excess finances too.
Slot Machine Prices – How Much Does It Cost a Casino to Buy a Slot Machine?
Slot Machine Price Guide – How Much Is a Slot Machine Worth?
Considering all that we have talked about so far, how much do casinos pay for slot machines in the end? The typical price of slots usually goes around $15000- $25000. Yes, there is a pretty big variation in the price. That’s because of what we have already talked about – different elements cost differently. If casinos want to have slot machines with the best elements, they have to pay more for it.
Yet, the best casinos are always choosing the best appliances to offer the best online gambling bonuses in the US and all the other benefits. Therefore, we always offer the best websites. It’s not only about the animations, designs, games, etc. It’s also a matter of your safety. Check Intertops Poker for the best experiences and safest plays!
How Much Do Casinos Pay For Slot Machines: The People in Need – Who Buys Slot Machines?
After all, who buys slot machines? You might already have an idea though. Obviously, casinos are the first to mention who needs and buys these slot machines. Yet, there are some other places like pubs where you may find some slots to play.
What if I Want One – Where to Buy Slot Machines?
Most of the slot machines are better to find on the internet. Nevertheless, if you address it to manufacturers or distributors, it will be even. They know how it all works, hence, they can recommend the best sources. It does not matter if you need them online or from shops, retailers know it better. Yet, it also depends on where you are located.
Know the Difference Between Casino Slot Machines and Collectable Relics
Once you open eBay, you will see that there are lots of slot machines. And the prices are usually a few hundred dollars. Hence, it might seem a bit confusing that why then casinos don’t use these games.
Nevertheless, the thing is that these games are collectors’ items. They are pretty old, therefore, it’s not likely that they will make you good money. Usually, separate individuals or businesses get the games for using them as collectors’ items.
So, whatever the purpose is, if you purchase the slot machine on eBay or maybe other auction sites, it’s not going to be the same as getting one for the real casino. Besides, there is only a chance to get a slot machine if you have a gambling license. Otherwise, there is only a possibility to purchase a slot for personal or antique purposes.
Slot Machine Payouts – The Reason Why Online Slot Machine Odds Are Way Better
One of the important things about slots that you need to know is that no two slots are identical. This means some slots you can really get lucky with. And while playing with others you might lose all your money. Hence, you also need to know how to choose the perfect online slot in order to understand how to get lucky with them.
Well, the slots that give you the best odds to win are the ones that have the highest RTP (Return to Player). Though it’s still not a guarantee that you will win huge amounts of money, the chances are still higher with these slots. So, you need to be able to pick the right ones. And this RTP is the reason why it’s better to go for online slots rather than the ones in traditional casinos. RTP of online slots is usually higher than at traditional casinos. Usually, online casinos have about 97% while live casinos offer about 85%. Some slot machine winning strategies can also increase your chances of success.
How Much Money Do Casinos Make on Slot Machines?
We know approximately how much do casinos pay for slot machines, but how much do they make on them? Let’s view an example of the report prepared by the Nevada Gaming Control Board for July month in 2017 for Strip. In July 2017, it had 38,434 operating slot machines in 40 different locations. The total earnings were $269,527,000. So, let’s divide this amount by the machines’ quantity which makes $7,013.
Then, considering that there are 31 days in July, we get $226. Hence, we can conclude that Strip Slots on average made $226 a day.
Frequently Asked Questions About Slot Machines and Their Prices
- Do casinos ever lose money on slot machines?
Shortly, no. It does not matter if the players win a lot of money, let’s not forget about the house edge. Any casino game is designed in a way to makes the casino profitable.
- Can casinos control slot machine payouts?
Mostly, casino operators have to provide casinos with reports based on weekly or monthly indicators. Hence, gaming regulators control slot machines based on the legal requirements that apply for payout return proportion.
- Is it worth playing slot machines?
No matter how much experience you have with the slots, you can always benefit from the slot machines. Most importantly, make sure you select trustworthy and safe casinos. That will help you avoid gambling scams. Once you decided to stick to one gambling site, make sure you used all the benefits including online gambling promotions in the US.
- Is there a way to tell if a slot machine is going to hit the jackpot?
You can’t tell what numbers the slot machine will pick next by just looking at it. There is nobody who can do that though. Place the small bets first. Then, it shows the reels wiggle, place it all. In case you don’t know, the wiggle is said to show the upcoming jackpot, so, it’s your chance to hit one!
- Do slot machines pay more at night?
Your chance to get paid out at night is higher than during the daytime. That’s because the number of players is higher.
- How does one pick a good slot machine?
There are a few tips that will help you select good slot machines. First of all, pick high-limit slots. Next, set the timing for them, remember that slots operate in cycles. Pay attention to the best slots and try to stick to those. It’s not really the best idea to go for slots that are not much popular among other gamblers.
- How often do slot machines hit the jackpot?
Another important thing about slot machines is that they are completely random. Hence, it might be that jackpot appears in two subsequent spins. Or it might not appear for 50,000 spins. Yet, on average there is a chance to hit slot jackpots once per 10,000 spins.
- What is the highest jackpot ever won on a slot machine?
The highest jackpot ever won on a slot machine was in 2003 in Excalibur Casino, Las Vegas when one lucky gambler decided to spend $100 only to try the luck out. It worked and the lucky player won $39.7 million which turned out to be the biggest jackpot.