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At Carnegie MellonUniversity, where my dissertation was focused on multiagentlearning and I was extensively involved in the RoboCupinitiative. /cepheus-poker-university-of-alberta/. I completed my Ph.D.
The phrase high limit can be used to describe any version of a casino game that’s set up with a large maximum bet size. These games cater to gamblers who like to place large bets; high rollers with big bankrolls that allow them to spend more money in a gambling session (and wager more per bet) than the majority of the gambling venue’s other customers.
These VIP customers don’t fit the traditional slot gambler archetype; most of these games have smaller bet ranges than the table games preferred by big spenders, like blackjack or roulette. In the past, slots often had some of the lowest minimum bet sizes on the casino floor, and many games to this day accept wagers as small as a single penny. But not all whales shy away from the one-armed bandit. Big spenders looking for more complex game play are forcing the slot design industry to create titles with higher maximum bet sizes.
In 100+ year history of slots, changes in technology have been met with changes to game design. What were once simple mechanical diversions are now the most popular bet in casino gambling, with random number generators and computer software replacing the physical spinning reels and simple symbols found in the early days of machine gambling.
As slots have grown more complex, games offering large jackpots, bonus bets, and luxury prizes appeared. Obviously, if a slot offers a progressive prize that could climb into the millions of dollars, it makes sense that the game would require a larger bet. These days, maximum bets and spin limits allow bettors with the means to do so the ability to wager hundreds or thousands of dollars on a single spin.
Though penny slots still have a big audience, machines that accept high limit wagers are increasingly popular. Casinos often arrange these high dollar machines in a special area of the gaming floor, creating a bank of slots for their VIP customers, similar to private table game lounges where whales can play their favorite games away from the noise and crowds of the main casino. Online gambling sites offer high-dollar slot play, too, with Internet-based machines for high rollers who play from home.
The definition of a high roller game depends on how much cash you have to spend. If a gambler heads off for a weekend in Vegas and sets aside $1,000 for gambling, a single slot bet of $100 represents ten percent of his total stake, certainly a high limit wager in that person’s eyes. A bankroll of $10,000 would make that same wager a one-percent bet, but if a gambler wants that ten grand to last over a period of six or seven days, betting one percent of his budget on a single pull of the lever means it’s still high roller territory.
Casino gamblers that spend big chunks of money on slots do so for a number of different reasons. Some are being flashy, attracting attention from others on the casino floor or the casino’s floor manager. After all, laying a wager of $2,000 on a single pull is just as valuable to the casino as placing a single $2,000 roulette bet. One major difference, of course, is that table games are normally played by a table full of customers, while slots are one-person games.
Another reason people play high limit slot machine games is the fact that titles with high max bet sizes tend to have higher payback percentages, meaning the casino has a slightly smaller advantage against the player. Think of it this way – in order for a gambling venue to earn its money back on penny bets, it needs to retain more of each wager. High limit slots are designed to keep less of the cash put into them since the bets placed on them are higher on average.
But don’t make the mistake of thinking that playing a high limit machine means you’ll definitely win more than you would on a low limit title. Though most gambling machines are controlled by a government entity that sets a specific range of acceptable payback percentages, there is no hard and fast rule that says a casino’s games with large limits have to hand out more money.