These calculators show expected loss, and the expected time an original stake will last when playing poker machines. The calculators use a house edge figure of 10%, which is commonly the case with poker machines in Tasmania. In other jurisdictions this figure may be different, according to the mandated Return To Player of that jurisdiction.
The formulas to calculate these results are derived from the Productivity Commission Inquiry Report into Gambling, 1999.
For further information about how poker machines work, expected losses and expected duration of play, please refer to Section U, Volume 3 of the Commission’s report.
How much can you expect to lose?
The formula to calculate the amount the user would lose in a year is as follows:
Losses per year = Losses per session x Venue visits per month x 12
The formula that is used to calculate Losses per session is as follows:
Losses per session = ( T x R ) x ( H x B )
where:
T = time spent in one session (in seconds)
R = spin rate (seconds between spins, set at once every 6 seconds)
H = House Edge (1- Return to Player, set at 10%)
B = Bet per spin (in $AUD)
How long will your money last?
The formula to calculate the time it takes to lose an original stake is:
T = (S/(HxW))xR
where:
T = time
S = stake
H = house edge, which is 1-RTP (Return To Player)
W = wager
R = spin rate in seconds
So for example, an EGM with an RTP of 87%, a stake of $50 and a wager of $2 per spin every 6 seconds, the formula is:
T = (50/(.125 x 2)) x 6
T = (50/.25) x 6
T = 200 x 6
T = 1,200 seconds
T = 20 minutes.