Why play online slots when table games have a lower house edge?
People like playing online slots for numerous reasons, but there is really one main reason. Slots are the only online casino games where one small bet can change your life forever. Table games like roulette and craps that have no progressive jackpot don’t offer the chance of winning a big jackpot on a single bet. You simply don’t hear about people winning a million bucks playing blackjack. However, many online slots millionaires have been made, and even more at land casinos. Check out ThumbsUpBonus where you can find information about different casinos and of course the best bonuses for all slot lovers out there!
So why do players keep playing all types of slots, even if they know the house edge is worse?
Let’s take an example of a $500,000 progressive jackpot, which could be won with a $1 bet. If the particular game has a 90% payback rate, the house edge is 10%. For the sake of this example, 1% is contributed towards the progressive jackpot. The odds of winning are 50,000,000 to 1, considering that the jackpot is one hundredth of the payback. So if the machine is spun about 1 million times a year, the casino can expect to pay the jackpot about every six months. Continue reading…