UNLV’s Center for Gaming Research recently released its annual report on the hold percentage for the Silver State’s slot machines.
The findings show that the highest hold, or win percentage by the casino, in the state is in Las Vegas, and overall, machines have gotten tighter over the last 20 years.
Slots of Fun?
Many believe that it has become tougher to win money on slot machines in Las Vegas, and a recent study by UNLV’s Center for Gaming Research appears to bear that out. The study revealed that the average hold (win rate) in 2025 was 7.1% compared to 6.55% in 2004.
Although the state threshold for hold on slot machines is 25%, competition amongst the casinos has effectuated an average hold of well over 90% throughout the state, according to the Nevada Gaming Control Board.
The report found that Las Vegas Strip slot machines registered the highest average hold at 7.57%, while Reno slots checked in with the lowest hold at 5.21%.
“Hold percentage—the portion of money gambled that the casino retains—has a huge impact on casino revenues,” the UNLV report stated. “Even if the handle (overall play) rises in a period, a decline in hold percentage can mean a drop in casino revenues. Players naturally prefer a low hold percentage, which returns on average more money to them, while casinos look to balance higher hold with the need to keep players happy.”
No Conspiracy Afoot
According to these findings, slot players can expect to see over 93% of their money returned in an average sitting. But the slightly higher holds, and thus lower expected returns, have hatched conspiracy theories that there is some grand coordinated scheme by casino operators to dupe their slot customers.
According to the rules and regulations established by the Nevada Gaming Control Board (NGCB), hold percentages cannot be independently adjusted by operators beyond the configurations initially approved by the NGCB. Safeguards installed against such malfeasance include audits and data logs that would reveal the deception.
Two gaming officials who would know, Rusty LeBlanc, the chief of the Control Board’s Audit Division, and Jeremy Eberwein, head of the Technology Division, which also governs the Control Board’s gaming lab, recently commented on the safeguards in place to prevent such an egregious violation of the rules established to ensure fair play.
“They (casinos) have set configurations,” Eberwein said. “For example, one of them might have a configuration for a 90 percent return to player or a 10 percent hold, depending on which way you want to look at it. It’s just fixed. That’s your only option. You can’t say, you know, tweak it a little bit this way or that way. There are just very specific options for that. And that’s all in the program. So, you physically can’t pick something that’s got, say, a 40 percent hold. It’s just not there.”
However, the concept of looser slots versus tighter slots is valid according to Eberwein, who stated, “It’s pretty common that there are games out there that have a ‘loose option,’ we’ll say, like a 96 percent return to the player. And then the tightest option, you know, just in a typical game, will probably be 86 (percent). So that’s really the entire range you have.”
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