Fake Money Slot Machines

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The unnamed person's c-note failed the cashier's test of the bill using a pen and police said the bill's serial number is a known fake according to the U.S. Secret Service website. Play with fake money. Bovada lets you play all their slot machines with play money, and you don't have to register an account to play. If you like slots because of the chance of winning a big jackpot, then here are two alternatives: Play video poker.

In the early days of slot machines cheating was as simple as taping a piece of string to a coin, today coin shaving and counterfeit tokens are whats being used by slot cheats.
String and Coin - This is possibly the simplest form of cheating that can be done on a slot machine. The idea is simple you tape a length of string to a coin and insert that coin into the slot machine. Once the machine registers the coin drop a tug on the string and the coin returns to the player. Repeating this process adds credits to the machine without spending anything. Players using this method were refered to as Yo-Yo players because of the action of pulling the string multiple times looks like they are playing with a Yo-Yo. The biggest draw back to this system is the fact that there is a string sticking out of the coin slot of the slot machine. It would be pretty hard to explain why you have a string in a slot machine. With the discovery of this cheating method, vendors were able to come up with a device to prevent the coins from returning up the coin shute. The only place this cheating method is going to work is in a slot machine museum and the machines there don't pay-out.
Shaved Coins - Some cleaver people discovered that if you shave about 0.040' off a quarter the slot machine will still register the coin being dropped into the machine but are immediately discharged from the machine. This produced the same results as the string trick but without the string sticking out of the machine. As you can see in the image to the right, the coin on the right is slightly smaller and unless close attention is paid to the coin it would be easily over looked. While this method is easier to use then the string method, the inserting a coin and having it pop right back out while registering a credit is sure to draw some attention eventually. Vendors have also developed more sophisticated optical coin readers to evaluate each coin inserted and reject those coins that don't 'measure' up.
Counterfeit Money - This one isn't specifically a slot cheat but it certainly affects slot machines more often then other games in the casino. There are some counterfeit bills that are good enough to pass the electronic eye of the slot machine. This offers the cheat a way of 'laundering' the money they made. How this works is that the cheat would play a machine that returns a high percentage of the money played. So if the cheat got 95% of every dollar played they would have .95 of real money sticking the casino with the fake money. The fake money won't be detected until the slot machine is emptied and the money counted and by then the cheat can be long gone. The downside of this method is obvious. Counter fitting money is a federal crime that the FBI and the Treasury Department take very seriously.
Counterfeit Tokens - Many casinos have switched their slot machines from accepting coins to accepting casino tokens. The original idea behind that was that the players would need to exchange legal tender for casino tokens which can only be used in their slot and video poker machines. Since altered money could not be used at the slot machines then that would stop the cheating. Well this worked for a while until some decided that they could make their own tokens and spend those at the casino. The process for making your own tokens is pretty simple in theory. First you need a token you want to copy, this just requires a visit to the casino of choice and 'purchase' a few tokens being sure to keep one on your way out. Next you make a mold(s) of the token and with a small investment in easily and legal materials, you melt some metal and pour it into the mold(s). Once the tokens have cooled you remove them from the mold, remove any excess material and polish them up.
The draw back to this method is that it is very hard and expensive to make quality counterfeit tokens. The size, weight, look and feel all need to be exact, if just one of these things is off it will be easy to identify them and you. Vendors and Casinos are very vigilant about this type of cheating. There are some very good counterfeit tokens out there and some may even have ended up in circulation. If this was allowed to go unchecked, not only would the casino's be affected but legitimate players might be scrutinized as cheaters.Fake Money Slot Machines
Shaved Tokens - Much like the Shaved Coins method, cheaters get a number of tokens and shave them down so that the machine registers it as a credit but does not recognize it as a legitimate token and spits it back out. The benefits and draw backs of the shaved token are the same as the shaved coin.
Slugs - Slugs are metal circles that match the diameter, width, weight and magnetic properties of a coin or token but have no designs on them. When dropped into a machine they would be close enough to the real coins or tokens that the machine would accept them without a problem. Unless a player is spotted using slugs is almost impossible until the money is counted from the slot machine to catch a player using slugs to cheat the casino. With better technology and video cameras covering the slot areas you might make it out of the casino but they will certainly report you to the police as a suspect, and they'll have your picture to share with the police.

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Foreign Coins - Slot cheats quickly learned that there are some foreign coins that are sloe enough to American currency that they are able to fool the coin counters on slot machine into believing that they are in fact American Currency. This may not seem like a huge problem but the when the actualy value of that coin might be 1/10th of the cost of it's American counterpart it's being mistaken for you can see how this could quickly become a problem.
Coin Emulation - This cheat consists of a device that is inserted into the coin slot of a slot machine and once in place and activated it uses electronics to simulates the signals to the coin comparator that coins are being added to the machine. On some machines it is even possible to add several hundred coins in a fraction of a second. With this cheat like any other money cheat, the cheater need not play through all the fake money to make some money. Once the fake money is added to the machine the cheater need only to 'Cash Out' to turn that fake money into real money.
Bill Validator Fraud - This one isn't specifically a slot cheat but it certainly affects slot machines more often then other games in the casino. There are some counterfeit bills that are good enough to pass the electronic eye of the slot machine. This offers the cheat a way of 'laundering' the money they made. How this works is that the cheat would play a machine that returns a high percentage of the money played. So if the cheat got 95% of every dollar played they would have .95 of real money sticking the casino with the fake money. The fake money won't be detected until the slot machine is emptied and the money counted and by then the cheat can be long gone. The downside of this method is obvious. Counter fitting money is a federal crime that the FBI and the Treasury Department take very seriously.
The counterfeit money used by casino cheats is specifically designed to beat the checks and balances of the bill validators that the slot machines use. By designing money to beat the bill validator the cheat doesn't have to worry about the money being discovered until the casino empties that machine and counts the money. This is a very effective way of laundering fake money even if the return is only 95%. Over the years the Bill Validators have become more sophisticated as the counterfeiters have become more sophisticated. Today all but the most advanced counterfeit bills are caught and will the cooperation of the treasury department the days of counterfeit bills being played at slot machines are numbered.
Like the string on a coin trick there is a similar trick that was used for bills and early bill validators. Cheats would attach to a bill a length of clear packing tape, laminate or other thin plastic to create a 'tail' of one end of the bill. This bill would be inserted into the bill validator, once the machine registered the credits the 'tail' would be pulled and the bill would return to the cheat. Some variation on this cheat include the use of a separate flat piece of plastic or this metal to be used in the Bill Validator to retrieve the bill a third variation has fishing line attached to the bill instead of the plastic tail to retrieve the bill. Like the string on a coin trick the Bill Validators have been upgraded to detect the modifications to the bills, the plastic tails, and mechanical improvements have been added to prevent the bills from being removed from the machine back through the bill validator.

The gaming industry is big business in the U.S., contributing an estimated US$240 billion to the economy each year, while generating $38 billion in tax revenues and supporting 17 million jobs. /astra-party-time-slot-machine-cheats.html.

What people may not realize is that slot machines, video poker machines and other electronic gaming devices make up the bulk of all that economic activity. At casinos in Iowa and South Dakota, for example, such devices have contributed up to 89 percent of annual gaming revenue.

Spinning-reel slots in particular are profit juggernauts for most casinos, outperforming table games like blackjack, video poker machines and other forms of gambling.

What about slot machines makes them such reliable money makers? In part, it has something to do with casinos’ ability to hide their true price from even the savviest of gamblers.

The price of a slot

An important economic theory holds that when the price of something goes up, demand for it tends to fall.

But that depends on price transparency, which exists for most of the day-to-day purchases we make. That is, other than visits to the doctor’s office and possibly the auto mechanic, we know the price of most products and services before we decide to pay for them.

Slots may be even worse than the doctor’s office, in that most of us will never know the true price of our wagers. Which means the law of supply and demand breaks down.

Casino operators usually think of price in terms of what is known as the average or expected house advantage on each bet placed by players. Basically, it’s the long-term edge that is built into the game. For an individual player, his or her limited interaction with the game will result in a “price” that looks a lot different.

For example, consider a game with a 10 percent house advantage – which is fairly typical. This means that over the long run, the game will return 10 percent of all wagers it accepts to the casino that owns it. So if it accepts $1 million in wagers over 2 million spins, it would be expected to pay out $900,000, resulting in a casino gain of $100,000. Thus from the management’s perspective, the “price” it charges is the 10 percent it expects to collect from gamblers over time.

Individual players, however, will likely define price as the cost of the spin. For example, if a player bets $1, spins the reels and receives no payout, that’ll be the price – not 10 cents.

So who is correct? Both, in a way. While the game has certainly collected $1 from the player, management knows that eventually 90 cents of that will be dispensed to other players.

A player could never know this, however, given he will only be playing for an hour or two, during which he may hope a large payout will make up for his many losses and then some. And at this rate of play it could take years of playing a single slot machine for the casino’s long-term advantage to become evident.

Short-term vs. long-term

This difference in price perspective is rooted in the gap between the short-term view of the players and the long-term view of management. This is one of the lessons I’ve learned in my more than three decades in the gambling industry analyzing the performance of casino games and as a researcher studying them.

Let’s consider George, who just got his paycheck and heads to the casino with $80 to spend over an hour on a Tuesday night. There are basically three outcomes: He loses everything, hits a considerable jackpot and wins big, or makes or loses a little but manages to walk away before the odds turn decidedly against him.

Of course, the first outcome is far more common than the other two – it has to be for the casino to maintain its house advantage. The funds to pay big jackpots come from frequent losers (who get wiped out). Without all these losers, there can be no big winners – which is why so many people play in the first place.

Specifically, the sum of all the individual losses is used to fund the big jackpots. Therefore, to provide enticing jackpots, many players must lose all of their Tuesday night bankroll.

What is less obvious to many is that the long-term experience rarely occurs at the player level. That is, players rarely lose their $80 in a uniform manner (that is, a rate of 10 percent per spin). If this were the typical slot experience, it would be predictably disappointing. But it would make it very easy for a player to identify the price he’s paying.

Raising the price

Ultimately, the casino is selling excitement, which is comprised of hope and variance. Even though a slot may have a modest house advantage from management’s perspective, such as 4 percent, it can and often does win all of George’s Tuesday night bankroll in short order.

This is primarily due to the variance in the slot machine’s pay table – which lists all the winning symbol combinations and the number of credits awarded for each one. While the pay table is visible to the player, the probability of producing each winning symbol combination remains hidden. Of course, these probabilities are a critical determinant of the house advantage – that is, the long-term price of the wager.

This rare ability to hide the price of a good or service offers an opportunity for casino management to raise the price without notifying the players – if they can get away with it.

/best-paying-online-casinos-2017.html. These are the types of machines that have high payback percentages and even bigger jackpots.

Casino managers are under tremendous pressure to maximize their all-important slot revenue, but they do not want to kill the golden goose by raising the “price” too much. If players are able to detect these concealed price increases simply by playing the games, then they may choose to play at another casino.

This terrifies casino operators, as it is difficult and expensive to recover from perceptions of a high-priced slot product.

Getting away with it

Consequently, many operators resist increasing the house advantages of their slot machines, believing that players can detect these price shocks.

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Our new research, however, has found that increases in the casino advantage have produced significant gains in revenue with no signs of detection even by savvy players. In multiple comparisons of two otherwise identical reel games, the high-priced games produced significantly greater revenue for the casino. These findings were confirmed in a second study.

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Further analysis revealed no evidence of play migration from the high-priced games, despite the fact their low-priced counterparts were located a mere 3 feet away.

Importantly, these results occurred in spite of the egregious economic disincentive to play the high-priced games. That is, the visible pay tables were identical on both the high- and low-priced games, within each of the two-game pairings. The only difference was the concealed probabilities of each payout.

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Armed with this knowledge, management may be more willing to increase prices. And for price-sensitive gamblers, reel slot machines may become something to avoid.