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Wheel of Fortune Slot Machines are Fun but Learn Their Risk
Factors Before You Play
Wheel of Fortune slot machines are available in several different
formats in the standard three-reel format and associated
pay tables. What makes the machines different is that each
one is equipped with a free spin symbol that gives the player
a bonus payoff of anywhere from 25 coins to 1000 coins whenever
it lands on the pay line. A “wheel of fortune” attached
to the top of the machine determines the amount of payoff
the player receives. A player activates the wheel by pressing
a button. Just before it starts to spin, the machine’s sound
effects simulate the sound of an audience yelling “wheel…
of… fortune”, adding to the excitement of the game.
All of the lights and sound effects may make the Wheel of
Fortune games exciting, but it shouldn’t distract players
from the reality that these games are made with their owner’s
profit in mind. Before playing, therefore, it’s best to
have understanding of those risks. One risk is that the
payback on the Wheel of Fortune machines is 88 percent, including
the spin the wheel bonus payoffs. Compared to the average
payoff for slots, which should be 94 or 95 percent, the Wheel
of Fortune slots aren’t so attractive. Second, the odds
of hitting the million dollar progressive jackpot are 50,000,000
to 1, which are pretty bad odds for anyone’s standards, and
they aren’t in line with the actual reward a player would
receive were he lucky enough to hit the jackpot.
Todd DeRemer, slot performance manager for Harrah's Joliet,
offered the following explanation:
"First of all, you must differentiate between the Wheel of Fortune machines
that are linked to a progressive jackpot as they are in Las Vegas and the ones
being introduced around here," DeRemer said. "The machines we have
here at Harrah's Joliet are not 'system' machines...they are not linked to
a progressive. They are 'stand alone' machines, each with their own individual
top award jackpot.
In answer to the question about percentage payback, DeRemer
had this to say: “regulators (the Illinois Gaming Board,
for example) typically will stipulate that all machines in
a bank of progressives must be set at about the same payback.
If you're not talking about progressives, each machine in
the bank can be different. The manufacturer (in the case
of Wheel of Fortune, IGT) offers a range of paybacks and
the operator has the opportunity to pick whatever one(s)
they choose.”
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