- Author and statistician has formula for revealing RTP rates
- Steve Bourie shared his workings with the web this week
Gambling expert and bestselling author Steve Bourie has shared with the world how he cracked the secrets of the Seminole casinos’ closely guarded payback percentage rates – and how the simple formula can be applied by any player to calculate theoretical returns.
The mathematical system, which is based on links between player comps and player paybacks, could help gamblers at Seminole venues to pick their slot games more wisely – and find those with a decent chance of paying out.
Gambling author concludes research on Seminole payback rates
Steve Bourie is the author of the American Casino Guide. The journal of casino reviews facts and figures is updated annually, and is America’s top selling casino resource. This guide includes lists of casino payback percentages for games across the United States, based on figures released by regulators and by the casinos themselves.
However, Seminole casino venues are not required by law to publish their payback percentages, and just two of the US’ 500 Native American venues publish their rates voluntarily.
Both are located in Connecticut. Despite the lack of information, Bourie says he has uncovered a foolproof formula to calculate those percentages for himself – and what’s more, he says anyone can use the simple system themselves.
Comp rates and payback rates connected
Bourie claims to have identified a link between the amount a Seminole slot machine pays out per 100 spins, and the amount it comps to the player’s account as a dollar value.
At Native American casinos, comps are often issued in the form of credits to the player’s card, which can be spent within the casino on hotel rooms, restaurant meals and drinks from the bar. Through playing the machines, Bourie noted a recurring link between these comp rates and the payout rates of the slot games.
The formula is based on a play session of 100 spins, and is worked out by taking the dollar amount comped and multiplying it by 17. This should give the player a hold theoretical rate for that machine, says Bourie.
For example, a comp value of 50 cents per 100 spins would equate to a hold of 8.5% – or 17 x 0.5 – so the RTP would be 91.5% for that game.
Bourie has released charts and lists on the American Casino Guide website which appear to back up his findings. It is expected that Bourie’s findings will be included in the 2019 edition of the American Casino Guide, which will give players at Seminole venues a clearer idea of how the slots they choose to play will respond over time.
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