The bar symbols on slot machines represent sticks of chewing gum — specifically, BAR chewing gum. (It was a popular brand of the Bell-Fruit Gum Company at the time.) They were in color in those days, and different colors meant different flavors of gum. Sep 18, 2018 Most people look at the vast array of casino slot machines and assume they are all alike. They see a handle, a coin slot, flashing lights and figure one is as good as another. However, in making this assumption, they fail to see a lot of valuable information to help determine if they should play a particular slot machine.

Slot machines are more fun when you understand what’s going on with the game. If you don’t know what the slot machine symbols mean, and if you don’t know what it takes to get a winning combination, you might as well just play rocks scissors and paper with some stranger.

The purpose of this post is to take a detailed look at some of the inner workings of slot machines, especially as it relates to the slot machine symbols most commonly in use.

The traditions behind why slot machines use bar and fruit symbols are decades old, and the history of slot machines is fascinating all by itself.

In this post, I explain what the different slot machine icons mean and why it matters to the average player.

1-What Does the Bar Symbol Mean on a Slot Machine?

Slot machines have been around since the 1890s. You’d find these early slot machine games in bars and taverns in cities like New York and San Francisco. When gambling became illegal, these businesses started giving away candy and chewing gum instead of money.

Imagine going into a bar today and putting money into a slot machine with the opportunity to win a free drink or a cigar.

That’s what gambling in a tavern was like in the 1890s.

What does the bar symbol mean?

Think about what it looks like.

It’s a rectangle, right?

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My first guess would be that the bar symbol on a slot machine symbolized a candy bar, but that would be too big. After all, keep in mind that the idea was to have prizes that were small, like coins.

The bar symbols on slot machines represent sticks of chewing gum — specifically, BAR chewing gum. (It was a popular brand of the Bell-Fruit Gum Company at the time.) They were in color in those days, and different colors meant different flavors of gum.

Slot machine makers still use bar symbols out of tradition, even though I’ve never seen a slot machine game that offers gum as a prize.

2- What Do the Fruit Symbols Mean on a Slot Machine?

Just as the bar symbol meant you were going to win chewing gum, the various flavors of fruit-inspired candy were prizes you could win. Cherry symbols meant winning cherry-flavored candy.

Apples meant winning apple-flavored candy. Oranges and plums, well… They meant you won dragonfruit and huckleberry flavored candy.

Just kidding.

Obviously, the picture of the fruit in question represented the flavor of candy you won.

And, again, the reason these symbols are still in use have more to do with tradition than anything else. People are just used to seeing these symbols on these games.

3- How Many Different Symbols Are There on a Slot Machine?

An average slot machine game might have about 20 symbols on each reel. This does NOT imply that each symbol has a 1/20 probability of coming up on a spin, though.

Modern slot machines use a random number generator to determine their results. These are actually random — they’re not fixed or rigged in any way.

The casino makes its money because the prize schedule for a slot machine game pays prizes in such a way that the game is inherently profitable.

Think about it this way:

Suppose you played a casino game where you had a 1 in 600 probability of winning, but when you won, you only got a payout of 500 to 1.

Do you see how that would be profitable for the casino?

You’d lose $1 on 599 spins, but you’d win $500 on the one spin, for a net loss of $99.

Such a game would have a house edge of around 17%, on average.

The payouts on a slot machine game are more complicated than that, but it’s the same principle.

4- What Are the Odds of Winning on a Slot Machine?

What Does A Bar Mean In Slot Machines Dispense

Here’s the thing about slot machines:

You don’t know what the odds of winning are.

And, to an extent, the odds of winning are irrelevant. What you’re really concerned about is the payback percentage.

That’s a ratio that compares the odds of winning with the amount you win. Over time, it represents the long-term average of how much money the casino will win from you on each bet.

Most slot machines have a hit ratio of about 1 in 3 or 1 in 4.

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So it’s fair to see that on most slot machines, your odds of winning something are 3 to 1 or 2 to 1.

The problem is that the payouts aren’t commensurate with these odds of winning.

Also, slot machines pay off bets on an X for Y basis rather than an X to Y basis.

In blackjack, your payouts are in addition to what you risked. Bet $5 on a blackjack hand and win, and you get a 1 to 1 payout, or even money. You get your $5 bet back with $5 in winnings.

Gambling machines, though, pay back with odds on a 1 “for” 1 basis. Bet $5 on a spin of the slot machine reels, and you get $5 in winning in exchange for your $5 bet.

The machine acts like it’s a win, but the reality is that it’s a push.

This is also one of the reasons slot machines measure their odds using payback percentage rather than house edge.

When a slot machine game has a 90% payback percentage, it means that on average you get back 90% of each bet. Place a $5 bet, and you’ll get an average of $4.50 back over time — which means you’ll lose 50 cents per bet on average.

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And that’s just the average including any jackpots you win. If you play in the short-term and don’t see a jackpot, you’ll usually see a lower payback percentage until you get some winnings and catch up.

5- Which Slot Machine Has the Best Payout?

How do you know which slot machine has the best payout?

The short answer to this question is easy enough:

You don’t.

You have NO WAY of knowing which machine has better payouts than the other machines. In fact, you can play an identical slot machine next to the one you started on and be facing a different payback percentage.

The casinos have no rhyme or reason in terms of where they place the higher and lower payout machines.

In the long run, it doesn’t even really matter. If you play a negative expectation game long enough — and slots are ALWAYS a negative expectation game — you’ll eventually lose all your money.

Stop worrying about which slot machine has the best payout.

What Does A Bar Mean In Slot Machines For Real

Worry instead about how much fun you’re having — or not. If you don’t enjoy a specific game, move on to another game.

6- Why Are They Called “Slot” Machines?

They’re called slot machines because you put your money into a slot to play.

When they were first invented, slot machines only worked on a literal coin-in and coin-out basis.

Now, of course, most slot machines work by accepting bills and spitting out a piece of paper with the amount you’re owed on it.

But we haven’t changed the name of the games.

Also, it’s not called a slot machine in other countries, always. In the United Kingdom, they’re called fruit machines. In Australia, they’re called “pokies,” which is short for poker machines.

That last nomenclature comes from their original nature — the first slot machines, which predated the machines that gave away candy — used playing cards to produce random results instead of symbols on metal reels.

7- Who Invented the Slot Machine?

According to the Encyclopedia Brittanica, as well as many other legitimate sources, Charles Fey invented the first slot machines.

He born in Bavaria but was making his living as a mechanic in San Francisco when he invented slot machines in 1894. It didn’t take long for him to be doing so well that he started a factor to produce more slot machines.

The first 3-reel slot machine with machine-generated payouts in real money was invented in 1898, also by Charles Fey. The Liberty Bell, which most modern slot players would recognize as a real slot machine, came along in 1899 — another Fey invention.

There are only 4 Liberty Bell machines still extant.

Also, it didn’t take long for other companies, like the Mills Novelty Company, to steal Fey’s invention and start making money from their own versions of it.

Finally

Those are the most accurate and concise answers to some of the most common questions about slot machines and their symbols on the internet.

What other questions do you have besides what do the symbols mean?

Leave me a note in the comments, and I’ll respond with an answer if I can.

The gaming industry is big business in the US, contributing an estimated $240 billion to the economy each year while generating $38 billion in tax revenues and supporting 17 million jobs.

What people may not realize is that slot machines, video poker machines, and other electronic gaming devices make up the bulk of all that economic activity. At casinos in Iowa and South Dakota, for example, such devices have contributed up to 89 percent of annual gaming revenue.

Spinning-reel slots, in particular, are profit juggernauts for most casinos, outperforming table games like blackjack, video poker machines, and other forms of gambling.

What about slot machines makes them such reliable money makers? In part, it has something to do with casinos’ ability to hide their true price from even the savviest of gamblers.

The Price of a Slot

An important economic theory holds that when the price of something goes up, demand for it tends to fall.

But that depends on price transparency, which exists for most of the day-to-day purchases we make. That is, other than visits to the doctor’s office and possibly the auto mechanic, we know the price of most products and services before we decide to pay for them.

Slots may be even worse than the doctor’s office, in that most of us will never know the true price of our wagers. Which means the law of supply and demand breaks down.

Casino operators usually think of price in terms of what is known as the average or expected house advantage on each bet placed by players. Basically, it’s the long-term edge that is built into the game. For an individual player, his or her limited interaction with the game will result in a “price” that looks a lot different.

For example, consider a game with a 10-percent house advantage — which is fairly typical. This means that over the long run, the game will return 10 percent of all wagers it accepts to the casino that owns it. So if it accepts $1 million in wagers over 2 million spins, it would be expected to pay out $900,000, resulting in a casino gain of $100,000. Thus, from the management’s perspective, the “price” it charges is the 10 percent it expects to collect from gamblers over time.

Individual players, however, will likely define price as the cost of the spin. For example, if a player bets $1, spins the reels, and receives no payout, that’ll be the price — not 10 cents.

So who is correct? Both, in a way. While the game has certainly collected $1 from the player, management knows that eventually 90 cents of that will be dispensed to other players.

A player could never know this, however, given he will only be playing for an hour or two, during which he may hope a large payout will make up for his many losses and then some. And at this rate of play, it could take years of playing a single slot machine for the casino’s long-term advantage to become evident.

Short-Term vs. Long-Term

This difference in price perspective is rooted in the gap between the short-term view of the players and the long-term view of management. This is one of the lessons I’ve learned in my more than three decades in the gambling industry analyzing the performance of casino games and as a researcher studying them.

Let’s consider George, who just got his paycheck and heads to the casino with $80 to spend over an hour on a Tuesday night. There are basically three outcomes: He loses everything, hits a considerable jackpot and wins big, or makes or loses a little but manages to walk away before the odds turn decidedly against him.

Of course, the first outcome is far more common than the other two — it has to be for the casino to maintain its house advantage. The funds to pay big jackpots come from frequent losers (who get wiped out). Without all these losers, there can be no big winners — which is why so many people play in the first place.

Specifically, the sum of all the individual losses is used to fund the big jackpots. Therefore, to provide enticing jackpots, many players must lose all of their Tuesday night bankroll.

What is less obvious to many is that the long-term experience rarely occurs at the player level. That is, players rarely lose their $80 in a uniform manner (that is, a rate of 10 percent per spin). If this were the typical slot experience, it would be predictably disappointing. But it would make it very easy for a player to identify the price he’s paying.

Raising the Price

Ultimately, the casino is selling excitement, which is comprised of hope and variance. Even though a slot may have a modest house advantage from management’s perspective, such as four percent, it can and often does win all of George’s Tuesday night bankroll in short order.

This is primarily due to the variance in the slot machine’s pay table — which lists all the winning symbol combinations and the number of credits awarded for each one. While the pay table is visible to the player, the probability of producing each winning symbol combination remains hidden. Of course, these probabilities are a critical determinant of the house advantage — that is, the long-term price of the wager.

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This rare ability to hide the price of a good or service offers an opportunity for casino management to raise the price without notifying the players — if they can get away with it.

Casino managers are under tremendous pressure to maximize their all-important slot revenue, but they do not want to kill the golden goose by raising the “price” too much. If players are able to detect these concealed price increases simply by playing the games, then they may choose to play at another casino.

This terrifies casino operators, as it is difficult and expensive to recover from perceptions of a high-priced slot product.

Getting Away With It

Consequently, many operators resist increasing the house advantages of their slot machines, believing that players can detect these price shocks.

Our new research, however, has found that increases in the casino advantage have produced significant gains in revenue with no signs of detection even by savvy players. In multiple comparisons of two otherwise identical reel games, the high-priced games produced significantly greater revenue for the casino. These findings were confirmed in a second study.

Further analysis revealed no evidence of play migration from the high-priced games, despite the fact their low-priced counterparts were located a mere three feet away.

Importantly, these results occurred in spite of the egregious economic disincentive to play the high-priced games. That is, the visible pay tables were identical on both the high- and low-priced games, within each of the two-game pairings. The only difference was the concealed probabilities of each payout.

Armed with this knowledge, management may be more willing to increase prices. And for price-sensitive gamblers, reel slot machines may become something to avoid.

This article was originally published on The Conversation by Anthony Frederick Lucas. Read the original article here.