You can also use your debit card to withdraw cash from ATM machines. You can’t technically load money onto a debit card because your available funds simply reflect what’s in the bank. To boost your balance, you need to deposit more money into your checking account.
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Slots manufacturers and casinos swear it’s impossible, but many people claim they know how to tell if a slot machine is going to hit. Some say just by watching, they can tell when it’s “due”. Others say they emit a hot or cold aura. We’ll examine these theories and more to get to the bottom of the mystery.
- How Slots Work: Before we get into theoretical suppositions, you should know exactly what it is that makes today’s modern slots tick. Random RNG algorithms control each spin, while a predestined RTP gives the casino its edge.
- Due for a Win: “This slot machine hasn’t paid more than $5 in two hours. It’s due for a win!” Is that really true? Learn why it isn’t, and at the same time, it is…
- Hot & Cold Slots: If you’ve ever gone swimming in a pool, you know what it’s like to hit a cold spot, or worse, a warm spot (ew!). Some people claim slots emit the same thermal vibes.
- Luck & Variance: Gamblers call it luck. Slots makers call it variance. It’s the same thing. Lucky/variance is the fluctuating up/downswing that occurs between meeting a game’s RTP.
- Tips for Winning Slots: Whether you’re instincts are spot on or dead wrong, there are provably effective methods to increase your chances of winning slot machines.
Disclaimer – Not all forms of gambling are legal in all provinces of Canada. The legal age to gamble also varies by province. Breaking the law is a serious matter. The information provided on this website is meant for educational purposes only, and we will not be held liable for any irresponsible / illegal activity on your part. Know the gambling laws in your province and follow them. The following pages provide more information on Canadian gambling laws: Alberta – British Columbia – Manitoba – Newfoundland & Labrador – New Brunswick – Nova Scotia Northwest Territory – Nunavut – Ontario – Prince Edward Island – Quebec – Saskatchewan – Yukon |
How Slot Machines Work – RNG, RTP and Volatility |
The first slot machines were invented over one hundred years ago, long before computers came along. They were mechanical devices featuring an array of drums. On the drums were various symbols. When a lever was pulled, the drums spun around, coming to a random stop. If the symbols matched up, you won. If not, you lost. Figuring out your odds of winning the big prize was as simple as multiplying the number of symbols on each drum together. Not anymore… Since the dawn of computer technology, these games have been programmed to defy traditional odds. There are no drums. The number of symbols per reel is not static. Everything is controlled by a computer chip running a software program, designed to pay out a very specific percentage of its take. The three main programmable functions of a slot machine are the random number generator (RNG), the return to player (RTP), and the volatility. Let’s take a closer look… Random Number Generator (RNG)Remember the movie, The Matrix, when the green numbers kept raining down the computer screen? That’s an RNG. It’s a random strain of seemingly endless numbers generated by a computer. The algorithm it generates determines an outcome. There are countless applications for an RNG in the real world, but few so famous as casinos games. In a slot machine, the RNG determines exactly what symbols will land in each position on the reels. If you could see the RNG, you would never be able to read it. Each and every number in the sequence is changing with each passing nanosecond. It does not stop until the exact moment a player presses the SPIN button. At that very moment, the sequence of symbols is determined by the number produced. As a player, we still see the reels spinning as they come to a slow halt, but the machine already knows where they are going to land, because the RNG told it so. The whole purpose of the RNG is to ensure no one – not the players, the casino managers, or the players – is able to predict what will happen on any given spin. It’s all about timing. Press at just the right moment, and the jackpot is awarded. For this reason, a machine could pay back-to-back jackpots just as easily as withholding the jackpot for more than a year. Knowing that this is how a game works, it’s hard to imagine that anyone could know how to predict when a slot machine will win. And yet, so many seem capable of doing so. More on that in a moment… Return to Player (RTP)The RTP is the amount of money a machine pays out, compared to what it takes in. The RTP is always displayed as a percentage. For those of you familiar with how “house edge” works, the RTP is the opposite of the house edge. RTP refers to the amount players win back, whereas house edge is the amount the casino wins. Put them together, and you get a total 100%. For example, let’s say a slot machine has a 95% RTP. This means the game will pay back 95% of its monetary intake over time. The other 5% is the amount the casino wins. Theoretically, if you were to spin the reels 100 times on this machine at $1 per spin, you would end up with $95 left. The important word here, however, is “theoretically”. RTP is always theoretical. Yes, the machine will meet its RTP. It’s a computer. They don’t make mistakes. But the RTP will only be met over a very long period of time. We’re talking 20-25 years. So no, you’re not going to win exactly $95 back and lose $5 for every $100 you wager. If that were the case, every player would lose and no one would ever want to come back to the casino. That’s where volatility comes in… VolatilityA game’s volatility determines how often it is likely to strike a winning combination, and the average size of each prize paid. It can be low, medium, or high. A low volatility game is one that pays out very small amounts very often. A high volatility game will pay high prizes, but not very frequently. And a medium volatility is a balanced game, where mid-sized payouts occur on a regular, but not too regular, basis. The volatility of a machine will not alter its RTP. Over time, they all perform equally. But in the short term, their attributes can seem very different. At low volatility, a machine will arrive at its intended RTP more frequently, whereas a high volatility game will have much greater upswings and downswings.
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How to Tell if a Slot Machine is Due to Win |
If a game has not paid out a decent sized win in a relatively long period of time, it is said to be “due” to hit. When a progressive jackpot reaches record height, more people play it because they feel it’s due to strike any moment. This certainly seems like a logical mode of action. The game will pay out big at some point, and the longer it’s been since the last big payout, the closer that moment has to be. But is it really possible to predict exactly when it will happen? As we’ve already learned, a slot machine’s RNG makes it impossible to know the exact moment a game will pay out a jackpot. But knowing when a relatively large payout is due – that’s really not so far-fetched. We know that game’s are destined to meet their RTP. And we know that an RNG determines every outcome the moment the SPIN button is pressed. Wouldn’t it make sense that the likelihood of the RNG producing a winning combination of numbers would be amplified by an actual RTP that is far below its intended RTP? We are licensed and regulated by the New Jersey Division of Gaming Enforcement as an Internet gaming operator in accordance with the Casino Control Act N.J.S.A. 5:12-1 and its implementing regulations. Our games are tested by the New Jersey Division of Gaming Enforcement to provide games that are fair and operate correctly. Play+ is the smarter way to access your money before you start to play. Just load your Play+ account with a bank card or checking account. Draft king online casino. DraftKings Casino emerged as one of New Jersey’s most popular online casinos immediately upon launch. New Jersey players enjoy access to one of the most visually-appealing online casino platforms available in the state. True to the DraftKings brand, several sports-themed table games adorn the DraftKings Casino menu. DraftKings Online Casino, the gaming arm of the renowned DFS and sportsbook company, offers players in New Jersey, Pennsylvania, and West Virginia a wide range of slots and table games, including live dealer games. DraftKings is expected to launch soon in Michigan, too. With time, Draftkings made a transition into the online casino world, first with a single blackjack game available in the casino and later with additional games added. The DraftKings online casino platform is built with geolocators that will not allow you to play if you are outside of New Jersey or Pennsylvania. The real problem with this theory is that you have to know what a game’s actual RTP is, compared to its intended RTP. The only way to know if a game is far enough behind to potentially impact the value of the RNG algorithm is to sit back and watch the game for a long period of time. If you have the patience for it, give it a shot. |
Does this Slot Machine Have a Temperature Gauge? |
Some say slot machines can be hot or cold. Some believe this is a metaphorical statement, while others swear that game’s can produce a genuine thermal output. We’ll start wit the metaphorical… A slot machine is hot when it is producing above average wins. It could be paying more frequently than its volatility implies, or it might be paying larger prizes than average. There are slots enthusiasts out there that will only play hot slot machines, hoping to ride that wave of success all the way to shore. Then there are players who avoid these game’s for fear they’ve paid all they’re going to pay for a good long while. The opposite is true of a “cold” slot machine. A cold machine is one that is paying well below average. As we’ve already discussed, a game that hasn’t paid out a decent prize in a long time gets labeled “due” for a win. Contrary to hot-slot-lovers, some players will lie in wait for a slot machine to become very cold, then pounce on it as soon as the previous player leaves, expecting a quick strike. As for those who believe a machine can become physically and detectable hot or cold, I’ve never experienced this myself. Maybe it takes a special kind of person – someone with a sixth sense, or one who can sees auras. Those who attest to its accuracy say a hot machine is ready to pay, and a cold one is not. My suggestion would be to walk the aisles and, if you feel a warm spot, give it a try. |
The Correlation Between Slot Variance & Luck |
A slot machine’s variance is how far it strays from its RTP. It is similar to volatility, except that volatility defines how much it should stray, whereas variance defines how much its actually straying at any given time. Variance is, in reality, what the majority of gamblers refer to as “luck”. When a player is having a good day at the casino, we say he is very lucky. One who is having a bad day is said to be unlucky. Luck is either on your side, or it’s not. As fun-loving gamblers, we attribute a lot to luck, or a lack thereof. But variance is the technically appropriate term. It is variance that allows some casino players to win large amounts of money, without hurting the casino’s bottom line. Those who win are on the receiving end of a game’s variance (lucky). But many more players lose, or fall on the negative side of that variance (unlucky). If one player wins a $10k jackpot, imagine how many players have to lose to pay for it, and still ensure the casino gets its due. Suffice it to say, for all those who get lucky, many more will be unlucky. It is those who genuinely believe that you make your own luck that tend to proscribe to the theory that you can tell when a slot machine is about to win. Which brings us to our final segment… |
Five Ways to Better Your Chances of Winning on Slots |
After all you’ve read, do you think you know how to tell if a slot machine is going to hit? Whether you answered yes or no to that question, here is some genuine strategic advice that really will give you the best odds of leaving the casino a winner. 1. Higher RTP is BetterLook for slot machines with the highest RTP. It doesn’t mean you’re going to win, but it does increase the potential for winning. Not all games will display their RTP, but most will define it near the end of the paytable’s Info section. 2. Play Online SlotsLand-based casino slots have a typical RTP range of 85%-95%. Online slot machines have much higher RTPs, often ranging from 95%-97%. Online slots are also more likely to reveal their RTPs in the Info section. 3. Utilize Free SpinsTake full advantage of free spins bonuses whenever possible. These promotions come with wagering requirements and other stipulations that must be met before you can cash out any winnings, but it’s hard to complain when those spins aren’t coming out of your pocket book. 4. Beware Branded TitlesAs a society, we are drawn to things we are familiar with. If we like something, we flock to its brand mimicry. Case in point – The Ellen DeGeneres Show. It is immensely popular. If you love Ellen and her show, and you walk into a casino and see her face plastered on a slot machine of the same name, odds are you’ll want to play that game. Casinos and slot manufacturers know this, and use it to their advantage, which is why branded slots tend to have the lowest RTPs. Steer clear. 5. Ask the LocalsLocal slots players who frequent a casino know exactly which games pay out best, and which ones do not. So long as you’re not infringing on their seats, they are usually happy to share that information. In fact, there are social media groups dedicated to this topic. All you have to do is ask. |
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When you buy something, how do you pay? There are more options than ever these days, from debit cards, credit cards, checks, and cash, to newer payment methods like prepaid cards and mobile wallets.
Although they might be old school, debit cards are actually growing in popularity. In a 2018 study, 54 percent of people cited it as their preferred way to pay, up from 44 percent the year prior.
We’ve got the 411 on how debit cards work, the perks they provide, and sneaky ways they can cost you—so you can be smart about how you swipe.
What Is a Debit Card?
It’s a form of payment linked to your checking account. Unlike a credit card, where you’re borrowing money from a financial institution, a debit card extracts dollars that you already have directly from the bank.
Can You Put Debit Card In Slot Machines
Your bank or credit union will typically give you one when you open a checking account, and you can use it anywhere a credit card is accepted. Just like a CC, you run your debit card at the point of sale when you make a purchase. You are typically required to enter a four-digit PIN, which you set up when you activate your card. Depending on the merchant, you might be able to request cash back at the register. For an online transaction, you enter your card number, expiration date, security code, and billing address at checkout. You can also use your debit card to withdraw cash from ATM machines.
You can’t technically load money onto a debit card because your available funds simply reflect what’s in the bank. To boost your balance, you need to deposit more money into your checking account. Keep in mind that most debit cards have a spending limit, which might be less than the total in your checking account.
What Are the Benefits of a Debit Card?
There are plenty of perks. They’re easy to use, convenient, and more secure than carrying cash. They also mitigate your risk of going into debt: Since you’re restricted to spending only what’s in your account, it’s unlikely for shopping to spiral out of control. A handful of debit cards even offer rewards, such as one percent cash back on purchases.
And if your credit score isn’t great or you don’t have an established credit history, a debit card can be a nice option. There’s no credit check necessary—as long as you’ve got a bank account, you can get a card.
Are There Any Drawbacks to Using a Debit Card?
Actually, yes. For one thing, even though overspending is less of an issue with a debit card than a credit card, a cash diet is your best bet if you’re serious about buckling down on your budget. A University of Maryland study found that people shell out more when they pay with any form of plastic, compared to forking over actual dollars.
Another problem is that debit cards aren’t accepted everywhere. For example, some rental car agencies and hotels require a credit card in order to make a reservation.
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Plus, debit cards don’t offer as much protection as credit cards do. If you detect fraudulent activity or an error, your liability could be unlimited, depending on when you report it to your bank. With a credit card, you’re liable for a max of just $50. And since debit card transactions are extracted immediately from your account, you have less power if there’s a dispute with a merchant compared to credit cards, where funds aren’t delivered to the vendor until the end of the billing cycle.
In addition, while it might be helpful that credit score isn’t a factor in issuing consumers a debit card, the flip side is that a debit card won’t help you build credit. In fact, for people who have overdraft protection (more on this later), there’s an added risk: If you overdraw your account and are late repaying the negative balance, the debt might be sent to a collections agency (typically after 180 days of nonpayment)—and your score will take a hit.
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One final consideration is the fees you might rack up with a debit card. To start with, there is often a charge for using an ATM machine not associated with your bank—an average of $4.72, a recent survey found.
Then there are overdraft charges. When you first open your card, you’ll be given the option to sign up for overdraft protection. This means that if you try to make a transaction that exceeds the money in your checking account, the bank will still process the sale—for a fee of about $34, according to the Consumer Finance Protection Bureau (CFPB).
Should I Get Overdraft Protection?
Overdraft protection can be convenient but costly. If you decide to opt out of it, and then attempt to spend more than you have, your card will be declined. Embarrassing and annoying? Sure, especially if the purchase is something you really need. But ultimately it won’t hurt your bottom line.
Where overdraft fees can really get you in trouble is if you overdraw without realizing it. Let’s say you use your debit card to pay for a $25 oil change, but there’s only $15 in your account. If you have overdraft protection, the transaction will go through and your bank will charge you a $34 fee. If you’re not keeping track of your balance, you might assume you still have cash in your account. So you buy a $3 coffee—and are docked $34 again. You pay your monthly $9 Netflix subscription—another $34 fee. Then you spend $15 on groceries; you’re charged $34 more. All in all, you racked up $52 worth of purchases—and are out an additional $132 in fees. The CFPB estimates that consumers who overdraw their account 10 or more times a year pay an average of $380 in annual fees, the majority incurred on purchases of $24 or less.
What’s the Difference Between a Debit Card and a Prepaid Card?
Unlike a debit card, a prepaid card is not connected to your checking account. You buy it either online or at a retailer, like a grocery store, drug store, or gas-station convenience store. After registering your card, you can use it to pay for things the same way you would a debit card—except you’re drawing down from the card balance instead of your bank account.
Wondering what happens when you’ve used up all the cash on the card? Prepaid gift cards (also called closed-loop cards) are non-reloadable: You purchase them with a certain dollar value already loaded onto the card, and swipe until the balance is $0. After that, you can’t add on more money.
Reloadable, or open-loop, cards allow you to add funds—either by using cash at a retail location, arranging a direct deposit from your paycheck, setting up a PayPal transfer, or purchasing a “reload pack.” Like a debit card, you can also use reloadable cards to withdraw money from ATM machines or a point of sale.
Reloadable cards feature some of the same benefits as debit cards. They don’t require a credit check (although they don’t build credit either), and some offer cash-back rewards or points. While you’re protected from unauthorized charges and errors (as long as you report it promptly), it is easier for thieves to take advantage of prepaid cards than debit cards since you don’t have to enter in a PIN.
One major difference between the two: You don’t have to worry about overdraft charges with prepaid cards. That said, they’re still money vampires. According to the CFPB, common costs include an initiation fee, a fixed monthly fee, transaction fees, ATM fees, balance inquiry fees, a fee to reload funds, an inactivity fee, a fee if you use your card to pay a bill, a fee to receive monthly statements in the mail—the list goes on. The fees tend to be small (a survey found that they averaged $5.80 a month) but another study revealed that seven out of 10 cards did not disclose their fees upfront.
Also good to keep in mind: If you’re on a tight budget, a prepaid card can be more effective than a debit card because you can’t spend more than what’s on the card. For example, if you want to limit shopping to $100 a week, you can put that amount on your card every Monday and when it’s gone, it’s gone.
The bottom line is, do your homework. Before opening a checking account or signing up for a prepaid card, compare a few card options to see how the fees and benefits stack up, and take the time to actually read the fine print.
This article contains the current opinions of the author, but not necessarily those of Acorns. Such opinions are subject to change without notice. This article has been distributed for educational purposes only and should not be considered as investment advice or a recommendation of any particular security, strategy or investment product. Information contained herein has been obtained from sources believed to be reliable, but not guaranteed.