Originally, slot machines were limited to just small, privately owned stores. After 1992, slot machines became available to the general public. In the United States, slot machines are regulated by state governments. Several states have gaming control boards and other regulations.
Slot machines generally have one or more paylines. These paylines can be vertical, horizontal, or diagonal. Normally, the pay table is listed on the machine or in the help menu. If a symbol lands on a payline, the player earns credits based on the paytable. If a symbol doesn’t appear on the main horizontal, the player is awarded winning combinations.
Slots can also have bonus rounds. Bonus rounds can produce multiple payouts in a row. A typical bonus round will produce a payout of 5,000 to 10,000 coins.
Another important statistic for slot machines is volatility. A high volatility slot will produce a large payout in a short period of time. A low volatility slot will produce a smaller payout more frequently.
There are a number of factors that affect volatility. For example, if a slot machine has a large number of paylines, there are more chances for the player to earn a payout.
A slot machine’s theoretical payout percentage is set at the factory when the software is written. To change this, the software must be physically replaced. In addition, the amount of time required to change the payout percentage is significant.
The Colorado Gaming Commission found that some slot machines were incorrectly setting the true jackpot. The true jackpot is a much smaller amount than the amount displayed on the machine.