How Much Do Casinos Pay for Slot Machines?
Even though the online gambling scene has been going off lately, hitting new highs each year, traditional casinos are also seeing tremendous growth. This is not something that many people expected, especially with the controversial events we were spectators of in the last few years.
But to be honest, this shouldn’t be that much surprising. After all, is there a better feeling than getting that extraordinary, thrilling experience when playing your favorite game in a traditional casino? The way you are present in the casino, you can see the game in front of your eyes and the interaction you can have with the dealer and other players. All this is not something that can be easily replaced.
And when you enter a conventional casino hall, you immediately see all of the available games there and go to the ones that attract you the most. This is also a significant benefit of the real-life gambling experience. However, have you ever paid attention to how significant in terms of pure space are these casinos? The biggest ones usually have hundreds or even thousands of slot machines, on top of the other virtual and table games.
One thing that no one talks about is what exactly are the costs when operating a casino like this. And looking into the matter in greater detail, there is much more than the supply of slot machines and their maintenance.
There are also many other factors and underlying expenses that have to be considered. In the following lines, we will come through all of this so you understand the cost of creating a casino like this, how expensive the slot machines are, and the profits that casinos make regularly.
What Are The Costs When Creating a Slot Machine?
There is a reason why we set the beginning with the slot machines. Think about it, which is the game in a casino that has the most places where players can enjoy it. Of course, these are the slot machines that every traditional casino has in abundance.
And it can’t possibly be any other way. After all, slot games are the most popular type of casino game. The mania around these games has been around the players ever since the beginning of casino gambling.
But that’s understandable. Players don’t need any skills or knowledge to play slot machines, and the potential winnings that can be achieved make every enthusiast dream about a significant win.
When we combine that with the fun experience players get from the slots with their engaging sound effects and graphic elements, it’s not that hard to see why these machines have been taken over the whole casino industry and players’ minds.
However, do you know that slot machines are far from cheap? They are large, which makes them hard to transport. Not to mention the software and inside parts that are the most expensive in these slot machines.
Components of the Slot Machine
But to truly understand how much these gadgets cost, we need to go through the different components of a slot machine one by one.
- Money Management Device
One of the crucial things that must be working flawlessly in a slot machine is the money management device. And that’s common sense as if there is any problem with the money management, the casino won’t be able to recoup its profits at all.
It might even end with astronomical losses until the problem is discovered and solved. But of course, no one wants to take a risk like that. Because of that, money management devices in slot machines are the first component examined in great detail.
- Slot Machine LCD Screen
It’s not a surprise that the screens of the slot machines are one of the essential components. After all, players will spend hours looking into those screens, so they should be perfect. The price of every screen will depend on the number of pixels and the quality of the picture.
With the improvement of slot machines, there will also be some games that require a touchscreen, which can significantly increase the price. Generally speaking, casinos can get a decent screen for a slot machine for anything between $250-$600.
- Slot Cabinets
Slot cabinets are the body of the slot machine. It is everything that you see on the outside. They are vital because they will present the slot game players can enjoy, and their design should be attractive.
On top of that, the slot cabinets have integrated other crucial parts of the slot that are responsible for the sounds, power, buttons, and much more. The cabinets are one of the parts that require a significant investment. Their price depends on their type, design, and functionality, but casinos spend $500-$5000 per slot cabinet.
- Slot Game Board
You can think of the game board as the foundation for installing an operating system later on in every slot. A specialist installs it, but depending on its version, it can cost between $50-$1000, which is not insignificant.
- Gaming Software
The gaming software that must be installed on every slot is like the operating system on your personal computer or mobile devices but much more complicated. Depending on the type of software that should be installed, the total price of the service will cost more than $2500.
Old vs. New Slot Machines
One of the biggest debates in traditional casinos is connected with the option of old vs. new slot machines that players can choose from. Of course, each of them has its benefits and downfalls. Many players prefer to engage in gambling in the older slots because of the feeling this is the traditional type of gaming.
There are many players like this, and that’s why we can sometimes find casinos that have sections full of older slot machines. Gamblers who like these slots usually claim that there is no second feeling like playing on them because of their mechanics.
Undoubtedly, older slots are a lot of fun but compared to the slot machines nowadays, and they lack many things. The new slot machines are much better in terms of their software, features, and winning opportunities for players.
Also, the latest slots come with numerous games players can enjoy on the same machine, while this is not the case with the older slots. That being said, flexibility is one of the essential benefits that make the new slot machines much better.
Additional Expenses No One Talks About
But buying the equipment that will allow players to have a fantastic gambling experience in a particular casino is not the only expense that the owners should think about. And to be perfectly honest, no one talks about the costs that a casino has. Aside from the ones connected to the gaming machines and the different games we already talked about.
However, operating a traditional casino is far from easy, as it comes with numerous different things you have to think about carefully. And if you miss something, that may cost you the whole business. But what are the other general expenses that a casino has?
- Traditional Casinos Require Unthinkable Amount of Space
Have you ever thought about how big the last casino you entered was? When players enter a particular casino, the facility’s space is the last thing that they think about. And that’s understandable, considering all of the different gaming opportunities that immediately attract their attention.
If we are talking about some of the world’s biggest casinos, the space they need to take to fit thousands of slot machines, tables, and all of their equipment is much more than this of a large hall, right?
That being said, for these casinos to function properly, they need incredible amounts of space. And this is not only so that they can fit their equipment, but also people must feel comfortable, and there should be quite a few attractions where the players can take a break, for example.
That’s also why most of the best traditional casinos are placed on a few different levels where restaurants and restrooms can be found. All this creates astronomical costs for the casino owners, which, as you can see, go way beyond the price of a slot machine.
- Powering up the whole facility
Some people often complain about their electricity bill. When there is a casino with thousands of slot machines and other gadgets requiring electricity, what bill do you think waits for the casino owners?
Not even mentioning other monthly expenses like water, for example. As restaurants and hotel rooms are available in some of the biggest casinos, they should also be warm in the winter. Combining all of this, we get a salty monthly bill.
- Paying Staff
When you have a giant casino resort like this, you will be flooded with clients day and night. And to make sure that these clients will come back someday, you need to make sure their experience as a whole is exceptional.
For that purpose, casinos like these have numerous employees working on the highest possible level to provide their clients with everything they need.
This is also far from cheap, but it’s also not a service where you can think about saving some funds. The quality players get is proportional to the wages of the employees. That’s why a great part of the casino’s funds go to the employees.
Overall Costs and Potential Profits From Slot Machines
We had to share all these things because no one talks about the expenses of a casino and just how challenging is to run a significant facility like this. Generally speaking, if we get back on the topic of slots, just one machine can cost from $10,000 to $25,000 with everything essential included, like software installation and maintenance.
When there are hundreds or even thousands of different slot machines in a particular casino, you can calculate what investment we are talking about. You needed to understand that, so you can accept the ways casinos make a profit because it’s all partly justified.
Just How Profitable Is For Casinos To Have Slot Machines?
For everything we mentioned above, the casinos should be able to cover significant expenses. For that purpose, they must be sure that they will make money in the long term.
Why do you think that the most notable casinos in the world go through all the trouble to buy and install all of the different components of thousands of slot machines to be ready for all the players that will come to the particular casino?
Well, it will all make perfect sense when you understand that the income from slot machines is usually between 60%-75% of all the profit that a casino makes. That’s mind-blowing, but it shouldn’t be that hard to believe.
After all, when you enter one of the biggest casinos, you can hardly find an available space to enjoy one of the slot machines. A big part of these machines is working 24/7, which makes sense, considering the astronomical profits they make for the casino.
Differences Between Buying Slot Machines and Collecting Them
If by any chance, you get the idea of buying a slot machine to use for gambling, you might be heavily in the wrong. Buying a slot machine as a casino and as an individual are two completely different things.
The slot machines the casinos buy must have a gambling license for being used in gambling facilities. Everything other than that should be bought either for personal use, a collection item, or an antique.
In other words, you can buy a slot machine either for personal use or as an investment. If you cross the border of offering a particular slot machine for gambling, you will be breaking any laws, and it won’t probably end well.
But this is common sense, and collectors buy most old slot machines as an investment. That being said, you are probably wondering where you can buy a slot machine?
Where To Buy a Real Slot Machine?
Generally speaking, there are numerous places where you can buy a real slot machine from. There are many sites online that will provide slot machine offers, but usually, there are two places where you will probably get the best opportunities to buy a fantastic slot machine.
- Pawn Shop
The first place where you can find scarce slot machines is the pawn shops. Although there might not be any close to your area, you might consider taking a quick trip to the closest one that you know offers some slot machines.
However, the downside is that usually, these shops see the value of a particular item, and it will be very challenging to take something on a good deal. You will probably need even to overpay a bit, but if we are talking about a rare slot machine, it’s worth the investment for the long term.
- Online Auction Sites
The easiest way to get your hands on a real slot machine is to enter one of the numerous auction sites and choose from the piles of different offers. Of course, the most famous auction site, eBay, will have a great diversity of slot machines you can buy.
As a pro tip, you should be looking to buy a slot machine from an individual. That’s because many businesses are constantly flipping slot machines for a profit, and similar to the situation with the pawnshop, you will have to overpay.
This is not the case when buying something from individuals, and you can even negotiate with them and get an even better price.
Is It Legal?
After we briefly touched upon the restrictions and laws that prohibit you from buying a slot machine for gambling purposes, some of you may be concerned if it’s legal to purchase and own a working slot machine?
Well, in most countries and states in the US, it’s completely legal to own a slot machine and have it for personal use. However, in some areas, it can get a bit more complicated.
That’s why before searching for a slot machine, even if it’s for personal use, you will have to check the laws and restrictions that your country or state are applying to this matter. In the US, 41 different states allow people to have slot machines for personal use.
But these laws are also constantly changing, so whether you are in the US or anywhere else, it’s best to do quick research if it’s completely legal to own a slot machine in your area.
Things To Consider When Buying A Slot Machine
If you have already done your research and you know you can own a slot machine without any problems, you will have to consider a few things before hopping up on the first slot machine you come across.
As you already understand, buying a slot machine is not a laughing matter. Especially when considering prices, you need to be sure you make the best decision, considering your preferences and goals you want to achieve by buying a slot machine.
We will go through all of the essential factors together to ensure you won’t miss something crucial.
After going through the information above, you already know that slot machines can be quite an expensive investment. That’s why one of the first things you will ever have to consider before trying to get your hands on one of these antiques is the budget you have available.
We recommend setting a budget, you can afford and trying to shop for a slot machine in a particular price range. That’s because you can quickly come across a slot above your budget, but you get so fond of it that you end up spending more than you can afford.
One of the easiest ways to execute this is to go online and set up the desired price range. With that bit of trick, you will only see the slot machines you can afford without being distracted by options outside of your budget.
The slot machines, especially the older ones, come in various sizes. The oldest ones tend to be the biggest, which means higher transport costs, above everything else. On top of that, you should carefully think about if you have the space where you can comfortably put a slot machine like this.
Don’t let this fool you. At first sight, these machines might not look that big until you put them in your garage and you realize they take most of the space. So it would be best if you were careful of that.
Like we mentioned above, space can be a problem with older slot machines. That’s why you must buy a slot machine only after you are sure where you want to put it.
It’s always in your best interest to have a spacey place or a room where you can set the slot machine without having to worry that it will prevent you from doing your daily chores, for example.
That’s why a more oversized garage or a man cave will be the perfect place for a thrilling slot machine.
- Potential Repairs
Older slot machines are far from perfect technically. Most of their parts will probably be worn out, so potential repairs are something that you should consider when deciding on your budget. It is not if, but when with these slot machines because it’s always sure you will have to replace a part at some point.
However, that’s all if you want the device to be functional. Of course, there is always the option to own a slot machine simply like an antique or for decoration. But there isn’t something quite like a working old slot machine, is it?
- The goal of obtaining a slot machine
As buying a slot machine can significantly impact your bank balance, you will have to be true to yourself and deeply understand why you decide to get one of these.
Suppose you want to buy a slot machine simply because of a hunch. In that case, you might have to reconsider your priorities, especially considering all of the additional expenses that come by owning an older slot.
This is the main reason why you should know if you want to get a pokie machine for an investment, decoration, personal use, or other.
Choosing The Correct Slot Machine Specifically For You
After you have already made up your mind about acquiring a slot machine, the next logical step is to look for something that fits your taste and preferences.
However, if this is your first time looking for a slot machine, you might need a few specific guidelines that you can follow. Because, after all, you may not even be sure what you are looking for.
That’s why you will have to determine which components and features of the slot machines are most important to you.
- Design and Appearance
Well, this will probably be the first thing on most people’s list when it comes to slot machines. The appearance of your slot machine will be the first thing that catches everyone’s attention, so it should be perfected to the minor details.
The great thing about this is that the older slot machines come in numerous colors and styles so that you will have plenty of choices, even among the cheaper options out there
- Functionality and Games
Another thing that is extremely important for a slot machine is its functionality and the game that is based around it. The new slot machines support many different games, but the older pokies are not the case.
They have been based around one game, which makes them utterly unique. But this is also why you should check which game your slot supports if it’s not obvious by its design already.
- Sound System
It might be strange for some of you why we are putting sounds like a crucial component when choosing a slot machine.
However, if you think about it, the sounds from a particular device are the main thing that makes you engage in the game and get that exciting experience when gaming.
Without an excellent sound system, a slot machine is not that interesting and entertaining. So you must check the sounds of your slot before making the final decision.
Is the Low Return To Player (RTP) Ratio of Slot Machines Justified?
We are diving a bit into a topic that has been labeled as controversial in the past. Many players have been wondering if it’s worth playing slots in traditional casinos and what part of your money comes back in your pocket after playing a particular slot game for an extended period. There is something that measures this, called Return to Player, or in short, RTP.
If you enter an online casino right now, you can immediately check the RTP percent of every slot on the platform. However, this is not the case with the traditional casinos, and you can’t be sure what’s the RTP of your regular slot machine you like to play on the weekends.
To make a comparison, we can point out that the slot machines have between 93%-99% RTP online. In theory, this means you will get back most of the money you had played in the long run, which doesn’t sound too bad at all.
When it goes down to traditional slots, their RTP is usually below 92%, which is not considered too good in the gambling industry in general. But the real question here is if this low RTP rate is justified? Generally speaking, considering the position that casinos are in, these rates are mostly justified.
First of all, most players don’t bother to look at boring stuff like RTP percentages and similar. What they care about is entering the casino and having a good time. On top of that, with their astronomical expenses, the casino slots must have a slightly worse RTP percent.
And let’s consider that these casinos provide players with a great environment for gambling, which is always an experience. We can justify the RTP rates that slot machines have in classic casinos.
Are Casinos Cheating To Acquire More Significant Profits?
After mentioning all these things about casinos’ significant expenses, there will be some individuals to whom arises the question if there is any chance that these casinos are cheating to maximize or even increase their potential profits. However, this is not possible, and there are a few reasons why.
- Regulations and Gambling License
All of the traditional casinos you had ever stepped into are licensed by the government of the particular country they operate in.
All of the games in the casino and all the other factors have been meticulously checked by notable gambling organizations to ensure that everything is in order.
In other words, even if casinos wanted to cheat in some way, they couldn’t possibly execute something like this.
- Fixed RTP Rate
As you learned, casinos can’t possibly cheat because most of their games and all slot machines have a fixed RTP rate, which can’t be just miraculously changed because of the casinos’ interest.
- The Casino Has Enough Edge
Everyone who has lost some funds in a casino at some point might say that the casinos are cheating to acquire more significant profits. But the games all players can enjoy have been created so that the casino always has the edge.
That being said, the casinos don’t use any tricks to make players lose. Their games have been simply created in a way that makes winning very challenging.
Improve Your Chance To Beat Casinos At Their Own Game
As casinos have a significant edge over players, the casino hall is not a place you want to be if you go precisely intending to make a profit.
Well, it’s still possible to leave the casino with a significant amount, but you have to know what you are doing and have incredible discipline.
We are here to help you with that by providing you with some tips that will immediately increase your chances the next time you step into a traditional casino.
- Bankroll Management
There isn’t something more critical than bankroll management when stepping into a casino. As the house always has an edge, you must have a specific budget and stick to it in every situation.
Some games have a lot of variance, and even if you play well, you might still be losing. That’s why it’s crucial to play with the same bets, without wavering, whatever the situation may be.
- Control Your Emotions
In casino games, the results vary drastically. That’s why one of the essential things you have to master is your emotions.
At some point in your game, you will inevitably run into a losing streak, and that’s when you shouldn’t panic but rather stay true to your bet size and strategy. This leads us to:
- Follow a Proper Strategy
This is not all that relevant to slots, but more to the other games where you can significantly impact the events. One of the best ways you can increase your win rate is to follow a proper strategy.
These strategies have been created so that players can lower the house edge, leaving them with a greater chance of leaving the casino in profit. For slots, this can be bankroll management and identical bets, while table games can be following a whole system.
What Happens If You Are Caught Cheating In A Casino?
Some of you may have undoubtedly been curious about what happens if you are caught cheating in a casino. Without a doubt, this is very tempting, especially in the tables with card games, where you can hide a card or two to make your hand stronger.
In casinos nowadays, there are numerous cameras pointed to the tables from different angles so that you will be indeed be caught.
When this happens, you will have to face the consequences. Depending on your crime’s size and how much you had taken out, you may pay a fine of up to $10,000-$15,000.
If you indeed make something more serious, you may face legal charges that can lead to a prolonged stay in prison for up to 7 years.
Slots Are Beneficial Both For Players And Casinos – Conclusion
No matter what the specifics are around slots and casinos, one thing is for sure. They are beneficial to every party involved. With their numerous amounts in the most prominent casinos worldwide, these companies can make tremendous revenue, covering all of their expenses and even leaving them in profits.
On the other hand, this also presents an opportunity for players as many fantastic jackpots await to be won. There have been numerous cases about gamblers who had won thousands or even millions by hitting one of these jackpots.
But even if you don’t win something as significant as this, you will still be left with an overall entertaining experience, especially if you enjoy many of the other perks of these casinos like restaurants, restrooms, clubs, and more. It’s a win-win situation for both players and casinos, and it’s no wonder why the biggest casinos are always full around the clock.