The best deal for players, if you can afford it, was the casino's $10 slot machines, which kept a minuscule 1.77 percent of the money put into them, returning 99.23 percent to those spending their.
When you visit a casino, all the action appears to be happening at the tables. But when it comes to ease of play and popularity, slots come out on top. In fact, casinos dedicate roughly 80% of their gaming floor to slots. Only 20% is for table games.
The reason? Slots are more popular and account for more revenue than all other gambling sources combined. And for good reason. Playing a slot machine doesn’t require any gambling knowledge. On top of that, you can bet as little as $0.01.
What slots and table games have in common, however, is the enforcement of a withholding tax. If you’re one of the millions who visits Las Vegas annually, you need to remember that your winnings could be subject to a 30% withholding tax by the Internal Revenue Service (IRS).
Fortunately, Refund Management Services (RMS) can help you reclaim a portion or all of your withheld winnings.
Finding the Loosest Slots in Las Vegas
It’s not hard to find a slot machine in Nevada. In fact, there are over 490,000 slots and gaming machines in Clark County alone (the county where you find Las Vegas). And they’re not just located in casinos. You can find slot machines in the airport, gas stations, and convenience stores.
What is hard, though, is finding slot machines with the best payouts. After all, no one likes to go into a casino and lose $100 on the slots in 30 minutes. The goal is to win, or at least make your money last longer.
Thanks to increased competition in gambling hubs like Las Vegas, Reno, and Atlantic City, casino operators are battling for customers. To keep customers coming back, many casinos are increasing the number of jackpots at their slot machines.
All slot machines work on a payback percentage that the casinos can set. They can make a slot machine tight or loose. Loose slot machines increase the chances of a player hitting a payout. This creates excitement and helps keep players in their seats on the gambling floor.
For slots aficionados, it’s all about finding the loose machines. Not surprisingly, casinos do not advertise which machines are loose or the payout percentages of individual machines.
But that doesn’t mean you can’t do a little digging and find out which kinds of slot machines have the biggest win percentages. It turns out, you need to spend money to make money in Las Vegas.
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Statistics from the Nevada Gaming Control Board show which slots offer the best payouts in the order of the denomination played. In June 2016 in Clark County, Megabucks progressive slots posted the worst win percentage at 85.15%.1
What that means is, for every $100 you spend, you can expect to win $85.15. Megabucks progressive slots generally have the worst win percentage because the huge jackpot outweighs the bad odds.
The best win percentages came from high-roller slots. Slots that accept denominations of $5, $25, and $100 returned 94.05%, 94.97%, and 94.35%, respectively. While you can lose your money faster with high-roller slots, the payout percentages are always better (on all slots regardless of the denomination) if you get the maximum amount on each spin.
The most fruitful games, when it comes to odds and cost, are the nickel and quarter slots. In June, nickel slots had a win percentage of 94.2% while quarter slots paid back 93.06%. Next to Megabucks, penny slots have the worst win percentage, returning 88.83%.
Casinos with the Most Slots in Las Vegas
The Orleans Hotel and Casino
The Orleans is a Mardi Gras-themed casino hotel located a few minutes west of the Strip. The casino floor covers 137,000 square feet and has over 2,600 slot machines. There is also a high-limit slot salon.2
The casino also has over 60 table games and a 35-table poker room. You can also find a seat in the 125-person race and sports book with 13 betting windows.
MGM Grand Las Vegas
The MGM Grand is located at the south end of the Strip. It’s easy to spot the MGM Grand casino—it’s a massive emerald-coloured complex with a 45-foot bronze lion out front.
The MGM Grand covers over 170,000 square feet and has 3,000 slot machines (with denominations ranging from $0.01 to $1,000. There are also around 200 table games, a 24-hour poker room, and a race and sports book.3
Sam’s Town Hotel and Gambling Hall
Sam’s is a sprawling casino resort 10 km east of the Strip. The 120,000-square-foot casino is spread out over three floors where you’ll find over 3,100 slot machines, 50 table games, an 11-table poker room, a 570-seat bingo room, and a 60-screen race and sports book.4
Casino Slot Winnings Subject to 30% Withholding Tax
Non-U.S. residents who win a significant amount of money playing the slots at any casino or gaming facility in the United States are subject to a 30% withholding tax by the IRS.
In the U.S., winnings from casino games and other games of chance (racetrack, game show) are considered income. If you win $2,000 playing the slots, the casino will pay you $1,400. The IRS keeps the rest. But if you live in a country like Canada, which has signed a U.S. tax treaty, you may be eligible for a refund.
There are a number of countries that currently do not have a U.S. tax treaty. However, if you reside in any of the following countries, you could still be eligible for a refund: Australia, Bahrain, Barbados, Brazil, China, India, Indonesia, Israel, Kuwait, Mexico, Malaysia, Monaco, New Zealand, Norway, Saudi Arabia, Singapore, South Korea, Switzerland, Taiwan, Thailand, and the U.A.E.
To see if you meet the criteria and are eligible to get some or all of your withholding tax back, contact RMS.
RMS, the Easiest Way to Get Your 30% Withholding Tax Back
If you’ve visited the U.S. and had 30% of your casino winnings held back by the IRS, Refund Management Services (RMS) can help you reclaim a portion or all of your taxable winnings.
Founded by a Canadian chartered accountant, RMS is Canada’s most reliable and experienced gaming and casino tax refund provider. Over the years, RMS has helped thousands of people around the world recover taxes on their U.S. gaming wins. We’ve also never been refused an eligible refund.
Only RMS has the One Simple StepTM process with an easy online form to fill out. After you complete the form, our customer service agents take care of the rest, processing and submitting it to the IRS. It can take a minimum of one year for the IRS to review the claim and for RMS to receive the refund.
Contact RMS today by calling our toll-free number at 1-855-860-2610 or by e-mailing us at [email protected].
Sources:
1. “June Gaming Revenue Report,” Nevada Gaming Control Board web site; http://gaming.nv.gov/modules/showdocument.aspx?documentid=11262.
2. “Play,” The Orleans Hotel and Casino web site; http://www.orleanscasino.com/play.
3. “Casino,” MGM Grand Las Vegas web site; https://www.mgmgrand.com/en/casino.html.
4. “Play,” Sam’s Town Hotel and Gambling Hall web site; http://www.samstownlv.com/play.
When it comes to determining the Atlantic City casino with the best slots, there is really only one statistic that matters: return to player rate (RTP).
For games in a casino, the odds of winning are expressed in RTP.
- Essentially, RTP is the percentage of money bet on a game that the game will ultimately pay back to players.
- If a game has a 90 percent RTP, for every $100 bet on it, a player should expect to win back $90.
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However, RTP indicates the longterm performance of a game. This means it may take more than $100 in bets for the game to pay back that $90. Nothing is guaranteed, particularly in the short term, and a player may not ever see a slot’s true RTP realized before they run out of money playing it.
That said, RTP remains the best indicator of which casino has the loosest, and therefore best slots.
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Atlantic City casino slots: Always look for RTP
According to the New Jersey Division of Gaming Enforcement’s Atlantic City Casino Industry Casino Win Data For Calendar Year 2017 document, slots at the seven Atlantic City casinos operating last year had an overall average of 92.1 percent RTP. It’s no wonder slots are so popular.
The average RTP is actually much lower for the penny slots that appear to be the busiest in most Atlantic City casinos.
In fact, the one cent and two cent slots at Atlantic City casinos had an average of 88.7 percent RTP in 2017. The penny slots at Borgata Hotel Casino & Spa were the best among them at 89.8 percent RTP. However, Borgata’s overall average RTP among slots of all denominations was 91.89 percent, below the industry average and far from the best in the business.
High roller slots pay much better across the board. The best $25 slots can be found at Bally’s Atlantic City Hotel & Casino, where they had a 94.4 percent RTP last year. The Atlantic City average for $25 slots in 2017 was 92.5 percent RTP.
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For $100 slots, Resorts Casino Hotel and Tropicana Casino & Resort Atlantic City posted 94.1 and 94.2 percent RTP respectively last year. Numbers that were well above the 91.7 percent RTP industry average for $100 slots.
The loosest slots among the thousands at Atlantic City casinos in 2017 were actually the five-cent slot machines at Tropicana. These slots posted a 95.2 percent RTP on their way to becoming one of Atlantic City’s best bets last year.
Tropicana Casino & Resort Atlantic City
Plus, they helped Tropicana Casino & Resort Atlantic City post an overall average of 92.59 percent RTP on slots of all denominations, making the Trop the Atlantic City casino with the loosest and best slots.
Here’s a look at the average RTP on slots of all denominations for all seven Atlantic City casinos:
- Tropicana Casino & Resort Atlantic City: 92.59 percent
- Caesars Atlantic City Hotel & Casino: 92.24 percent
- Bally’s Atlantic City Hotel & Casino: 92.23 percent
- Borgata Hotel Casino & Spa: 91.89 percent
- Resorts Casino Hotel: 91.82 percent
- Golden Nugget Atlantic City: 91.66 percent
- Harrah’s Resort Atlantic City: 91.44 percent
Slots at The Trop
One of the oldest and most storied casino properties in Atlantic City, the Tropicana currently boasts three floors of casino gaming with more than 3,000 slot machines and 135 table games. Resort amenities also include more than 2,000 hotel rooms, 26 restaurants, 25 shops, 20 bars and lounges, four pools, an IMAX Theater, a spa and a 2,000-seat showroom.
Tropicana prides itself on being a casino games innovator and boasts a selection of more than 2,400 different games it says surpasses the offerings of other Atlantic City casinos.
In terms of slots, the list includes everything from the newest slots available to a wide variety of classics. The games are in areas with engaging themes. Many feature linked and individual progressive jackpots. There also a rather large video poker area and a stylish and inviting High Limit slots lounge with a private concierge, restrooms, and hundreds of high-denomination slot games.
Tropicana’s history in Atlantic City
The origins of Tropicana Casino and Resort lie in The Ambassador Hotel, circa 1919.
The Ambassador infamously played host to the Atlantic City Conference for organized crime bosses. The likes of Al Capone, Meyer Lansky and Lucky Luciano all attended.
The Ambassador closed in the 1970s. However, Ramada brought its bones back to life in 1981. The organization actually purchased the Ambassador in 1978 with plans to remodel. Ramada was forced by the New Jersey Casino Control Commission and then-Gov. Brendan Byrne to demolish the property and build a new hotel and casino practically from the ground up, reusing only the steel framework from the old hotel.
Ramada bought the Tropicana Resort & Casino in Las Vegas in 1979 and decided to call the under-construction Boardwalk property Tropicana Atlantic City.
It opened in November 1981, with a 521-room hotel and casino. Renovations continued throughout the 1980s, adding a showroom, a second hotel tower, and the Tivoli Pier indoor amusement center. Tropicana Atlantic City became TropWorld Casino and Entertainment Resort.
Tropicana changes hands
Ramada ended the 1980s by selling the Las Vegas Tropicana. The mid-1990s saw another new hotel tower added and further renovations. A new poker, keno and off-track betting area opened, and the property was renamed Tropicana Casino & Resort Atlantic City.
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The early 2000s saw another new hotel tower, a parking garage, and increased meeting and convention space added. Plus, The Quarter at Tropicana, a 200,000-square-foot entertainment complex and shopping mall opened up.
Ownership landed in the hands of a company called Columbia Sussex in 2005. However, Columbia Sussex was denied a casino license in 2007. Ultimately, a trustee took control.
Carl Icahn steps in and out
A group of creditors led by billionaire Carl Icahn bought Tropicana Casino & Resort Atlantic City out of bankruptcy in 2009.
Icahn ran the property under his Tropicana Entertainment Inc. umbrella. The company has made more than $200 million in upgrades, renovations, and enhancements since 2013.
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However, Icahn announced plans to sell Tropicana Entertainment Inc.’s US casino properties, including Tropicana Casino & Resort Atlantic City, to real estate investment trust Gaming and Leisure Properties in early 2018.