"Can someone please explain in simple terms what at Video Lottery
Terminal is as compared to a regular Slot or Video Poker machine?
What is the difference in how they operate?"
I can share with you what little I know about VLT vs slots/video
poker. VLT are terminals, not "independent" machines, such that any
player faces the same odds no matter which terminal they play for
that particular game.
In contrast, slot/keno machines has its "individual chip" that sets
the return for the game. For example, if you and your significant
other walk up to and play two identical slot machines side by side,
it is possible each of the machine may have different returns. Let
say two "Wheel of Fortune" machines are set side-by-side, but
unbeknownst to everyone but the casino, one of the machine has a
return of 95% while the other machine returns 92%, even though both
machines look the same, have the identical pay tables, and same
denomination. The returns are derived based on the **predetermined**
distribution of symbols/numbers/cards. Since the distribution of
the symbols is generally not known, it is very difficult to
ascertain the actual return via independent methods because the
standard "cycle time" used is generally 10,000,000 spins. Also, keep
in mind there may be up to 256 "virtual" stops on each reel, if not
more.
For video poker machines, under Nevada regulations, the card
distribution by the game must be no different than if dealt by
a "human being." That is to say the **card distribution must be
random** (plus other details). The return is based on pay table
limits and can be easily derived by computers via simulation or vp
analyzers.
Here are the summary of my two key concepts used in the "general"
sense because each state has different regulations.
1) Are the distribution of cards/symbols/numbers random?
A. Yes for VP, no for slot or VLT
2) Does each machine has an independent "cpu" (used here loosely) to
determine the outcomes?
A. Yes for Slots and VP, and no for VLT.
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