Top 5 Misunderstandings of Slot Machine Gamblers

Introduction to Top 5 Misunderstandings

What gets in the way of slots enthusiasts winning jackpots is often themselves. I hear these top 5 misunderstandings all the time. I share them here so you can stop these mistakes from getting in your way as you successfully travel along on your slots journey.

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1. You’ll Win Eventually at Slots

What? Sorry, no. This is an aspect of a gambling problem trying to convince you to play more. Chasing wins isn’t winning.

Having a feeling the slot machine you’re playing is going to pay out is usually just an emotional reaction. To win, you need a better plan than thinking, “Eventually, I’ll win.”

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Giving back all your winnings because you can’t walk away is because of an emotional reaction. For some, they take it as a challenge from the machine. Others see bets ending in “almost” wins that they think, “Just a few more bets because I can see a win is due.”

If you were going to win, it would have already happened. And you can lose all day long on some slot machines and the casino will happily accept your money. Why wouldn’t they?

2. Casinos Just Take Your Money

Casinos are businesses. And it doesn’t matter what the business is, dissatisfied customers are bad for business. But slots enthusiasts must be coerced into playing their money.

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This is part of the reason my 5-spin method works at 1-in-4 casinos and every casino Las Vegas. “Here,” the casino says, “sit down and, oh my gosh, you won! Now put it back in, spend it, put in the money you have in your pocket, spend that, go get more money and spend that.”

All because of that first win. And you know what? The customer walks away happy.

See, you can win at slots and the casino won’t be upset if you give it all back. Call it a win-win scenario for both you and the casino. Why?

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Because you don’t blame the casino for giving it all back, you blame yourself, because you didn’t see the subtle manipulation of that first win. That’s the casino’s plan!

3. There are Winning Game Themes

I get asked this question all the time. What game do you recommend? And I say something like, “I like winning machines.”

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Which is true. Some slot enthusiasts, hopefully not you, mix up player appeal with winning.

Like some people mix up, with help from the casinos and slot manufacturers, getting bonus rounds versus winning money. Player appeal is nostalgia from playing in the past. Bonus rounds don’t guarantee coming out with a profit.

Some of the newest slot machines being placed in casinos now allow you to add extra bankroll to your bet so that you’re guaranteed a bonus round. Every time! This feature came from online gambling for real money which has had it for a while.

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It’s a money maker for operators. So, of course brick-and-mortar casinos requested that feature from slot manufacturers and, ta-da, they got it. Because you love bonus rounds so much, you’ll pay extra to experience them.

But will you make a profit? Not likely, as that bonus round excitement was what you paid for, not making a profit off the casino.

Another reason slots enthusiasts think that some games are winners is because they’ve won on them at some other casino. But they didn’t win because it was that game theme, not exactly. They won because it is a popular game that everyone wants to play so the casino put them in an area which is highly visible to a lot of people watching.

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And those watchers wait for those machines to become available. But the casino only makes one of those machines a winner, which is a profitable situation for casinos because of all the other “identical” machines in that row where slots enthusiasts lose.

4. Wins Under $1,200 Aren’t Taxable

Jackpot wins under $1,200 aren’t taxable?? Well, the IRS disagrees. They say, “All gambling income IS taxable.”

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Not that you will be taxed automatically, but rather it’s taxable. There’s a difference. This is where gambling records help.

Do you make money gambling? If you don’t keep gambling records, you don’t know. But you don’t just record your wins, but also your losses. If your losses exceed your wins, the IRS recognizes that. All other individual income tax circumstances aside, you only pay income taxes on your profit.

But this is where the IRS puts their foot down. The IRS wants to see if your losses exceed your wins or, if not, how much was your profit. They don’t want you to do the math.

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The IRS says they want to do the math, thank you very much.

5. Slots are “Fully Random

Are casinos fair? Sorry, but nope. Get over it.

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Yes, I’ve been to casinos that are fair. And none of my strategies worked because I designed them to take advantage of casinos being unfair. That one casino has since been remodeled and isn’t fair any longer, thank goodness. Now you can go win there if you know my strategies.

Summary of Top 5 Misunderstandings

These top 5 misunderstandings can get slots enthusiasts in trouble. They are assumptions. And you know what they say about assumptions.

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