How much money can you win at online slots?
In 2012 the first online gambling licenses were granted, and since then the presence of online casinos has revolutionized the Spanish gambling scene.
More and more players prefer to bet online on games such as slots, Black Jack, roulette, and even bingo, than to visit face-to-face casinos; or to combine both, as the gaming experience is very different.
One of the casinos that offer the possibility of playing physically or virtually is Casino Gran Madrid, with its physical casinos Casino Madrid Torrelodones, Casino Gran Madrid Colón and Casino Torrequebrada (Málaga), and its virtual versions: Casino Gran Madrid Online, which is also the first casino with an online gaming license, and CGM 7 stars, exclusive for residents of the Community of Madrid.
This network of casinos has provided us with the numbers of the Casino Gran Madrid Online to be able to make this article, and thanks to these figures, and extrapolating them to the online casino market, we can get an approximate idea of how much you can get to win in online slots and other very popular games of chance such as roulette or Black Jack.
The highest online slot machine jackpots and why
For many casino players (either in person or online) the quintessential games are slots.
Slots are games of chance, i.e. fixed odds, and it is the most popular casino game of all.
The highest prize given out to date in the slots of Casino Gran Madrid Online has been 62,502 $s, followed by other prizes of 24,214 $s and 21,000 $s. If you are curious to know which slots specifically, they are as follows: Great Blue, Funky Monkey and Rocky.
By way of comparison, we will tell you that the highest prizes awarded at the Gran Madrid Casino Online roulette tables so far have been 24,630 $s, and 9,001 $s with BlackJack.
You may wonder why the slot machine prizes are higher in comparison with the rest of the online casino games. This is because online casinos have certain slots that offer progressive jackpots that accumulate money as the customers play. It would be something like winning the lottery: you are playing slots, generating win or loss, and at the same time you are choosing the progressive jackpot.
It goes without saying that if you want to try your luck at this online casino or with any of its progressive jackpot slot games, we can certify that all of Casino Gran Madrid’s online games are reliable and safe, as they are all certified by the Dirección General de Ordenación de Juego (DGOJ) attached to the Ministry of Finance (in the case of Casino Gran Madrid Online) and by the Dirección General de Tributos y Ordenación y Gestión del Juego de la Comunidad de Madrid (in the case of CGM 7 Estrellas).
Odds of winning at Online Slots
The probability of winning money in a game with a slot machine is 18.3%, according to studies by Miguel Córdiga, professor of Applied Mathematics at the CEU San Pablo University.
This probability takes into account aspects such as the following
The fact that it is a pure game of chance, makes the percentage of return in prizes of the slot machines fixed, since it is a game of chance and the skill, strategies and tricks do not affect the games so much.
All slot machines have, in general, a payout percentage of more than 90% of the amounts bet (usually higher in online casinos than in physical ones). This means that of the total money that the players bet, it is not 100% that is returned in the form of a prize, but a lower percentage. The casino has a fixed advantage, its profit margin, even when the online slots have bonus rounds in which the skill of each one intervenes a little bit more.
The specific payout percentage for each online game should be reflected on each casino website, showing the actual payout that each online slot machine has given out during the last few months. This is an important factor to take into account when choosing the best online slot machine to play.
Tricks for Winning Slots
Although we’ve told you that the house profit margin is fixed on slots, and that as it’s a game of chance it’s difficult to use strategies, there are other ways to maximize profits on online slots, so that you can win more money on them.
A good tip is to get to know the slots you are playing. As explained in the article How Slots Work, get the most out of them! If you have a good knowledge of the slots, taking into account aspects such as the number of reels, the paylines, the special symbols and the bonus plays, can make your results better, as you will be more prudent when betting and more effective when choosing your betting strategy in the online slots.
There are other strategies and tricks to win at slots, improving your game considerably. If you want to know more, we tell you in 13 Tricks to Win at Slot Machines