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The author also says playing slot machines between 1 and 7 a.m. is prudent because the machine is more likely to have had extensive play. Gayle Mitchell concurs but provides a narrower time frame. Mitchell states that the best time to play the slots is from 2 to 6 a.m. Mondays, just after a busy weekend.
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That means the challenge faced by every casino is how to set the slot payback percentages for optimum profitability. The point of equilibrium may be very elastic—anywhere between 80% and 95%, as a rule. The problem for players, of course, is that the casinos do not make this information readily available. At best, they publish a monthly “average,” including the payback rates of all.
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A SIMPLIFIED SLOT. To see how slots pay less than true odds to give the house an edge, let’s set up an example that’s as streamlined as slot odds can get, a game of the type used in the early decades after Charles Fey invented the three-reel slot machine in 1895.A hypothetical three-reel slot game with one 7, two bars, three cherries and four watermelons per reel would have 1,000 possible.
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