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What casino in Las Vegas pays out the best?

Luxor Hotel and Casino Luxor has one of the biggest collections of slot machines in all of Las vegas. Luxor houses more than 1,100 slot machines, one of Las Vegas' largest inventories. Put together, they offer an average payback rate of 91.92%.

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Spend a few hours in Vegas and you’ll probably hear the term “loose slot” thrown around at least a few times. Gamblers are always looking to tip the odds in their favor and loose slots help them do just that.

Myths

Before anything else, it’s important to note that payback percentage is one of the most misunderstood terms when it comes to gambling. Many players think this percentage represents the amount of money that will come back to them after wagering money in a slot machine. Others think that casinos control the payback percentage using a hidden switch in a secret back room. Both of these assumptions are false and contribute to the myths and misconceptions about slots. Let’s look a bit closer at these, and other myths.

Myth: Percentages are changed on the fly.

Fact: Percentages are programmed into the machines before they’re installed.

As mentioned previously, casinos buy payback percentage programs when buying machines from the manufacturers. The percentage they choose is based on company policy. When a machine is installed, the chip that governs the payback percentage is sealed inside. Changing it requires opening the machine in the presence of a regulatory official. In a similar vein, casinos are required by law to report their payback percentages to regulatory agencies. If a game under-performs, it’s more likely that the casino will change the game, rather than the percentage.

Myth: A machine’s payback percentage will reflect the payout you receive.

Fact: Payback percentage is long-term.

If you see a sign on a slot machine advertising a 98% payback, that doesn’t necessarily mean you’re going to win. Thinking about table games makes this easier to understand. For example, blackjack has a payback percentage similar to a slot with a 98% payback. Even with those odds, you don’t always win at blackjack. It’s the same for slots. And even a 100% payback doesn’t guarantee a win. A 100% payback just means there’s no inherent house edge. In terms of slot machines, it means that over time, the amount wagered will eventually equal the amount distributed in jackpots. Always remember that paybacks are theoretical. What’s more, the theoretical payback is computed through simulations over the life of the machine—over several years, in other words. In the short term, anything can happen.

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Myth: Payback percentage is the same as hit frequency.

Fact: Payback percentage and hit frequency are completely separate.

Just as a high payback percentage doesn’t guarantee a win, neither does it mean you’ll hit a lot of jackpots. In most cases, the highest-returning slot machines, percentage-wise, often have the lowest hit frequency. That’s why you need a big bankroll for these games—you may lose a lot before you win big. Myth: You can tell a machine’s payback percentage just by looking at it.

Fact: You’ll have to do your homework to know a machine’s payback.

While video poker games will tell you the payback percentage on the pay schedule, the same can’t be said for slot machines. Video poker games are restricted, by law, to one number for each possible result in a poker hand. When it comes to slot machines, it’s impossible to know how many simulated reel stops have been placed into the program. The best way to ensure the highest payback percentage is to keep track of the statistics (see the next section for tips) and play at the casinos that consistently offer players good returns.

Loosest Slots On The Strip

Now that you’re an expert in all things slots, let’s take a look at some of the casinos with the loosest slots. We chose these casinos based on a study conducted by a team of gambling researchers from the University of Nevada Las Vegas. The team conducted a survey of every Las Vegas casino’s slot machine inventory to determine payback percentages. The list below is based on their findings. All of the casinos listed below offer a higher than average payback percentage to players.

Circus Circus Casino and Resort

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