If you consider the hold to be the price of playing a slot machine, its likely that a fairly subtle increase would not be noticed given the fact that slot machines are played in a festive atmosphere that features free alcohol. A player might compare how long his bankroll lasts now with an impression of how long it lasted several years before, but I don’t know if a player could reasonably make a comparison for a shorter time interval such as a year. Perhaps some discerning soul would realize his bankroll is not lasting quite as long and would become upset enough to stop gambling but I doubt he would opt to go to a different casino since he really has no way of knowing if the Time At Play there is going to be better or worse. I could easily envision a gambler grumbling about an increased hold but being uncertain of it and uncertain as to his options. Under these circumstances, increasing the hold would generally tend to go unnoticed. A few discerning souls might realize what was happening and quit playing but those few gamblers can easily be replaced.

Since the more entertaining low-denom games also have higher holds, it seems that most players value entertainment over time on device. So maybe 6:5 blackjack and 10% hold slots are smart business. There’s absolutely no correlation that I can find between a rising hold and declining revenue or handle. In fact, rising hold has led to higher revenues.

Consider one casino’s former slogan “the odds are in your favor”. Okay. Did any of the players ever believe that? Consider the oft-repeated but virtually meaningless term about “loose”. Then ofcourse throw in actual comps versus recollections of comps. I’m not too certain a slot player really experiences any perception of “hold-percentage” when he is playing amidst rumors about slot machines that are more visible pay better or slot machines are “due to payoff” at various times.

There are often articles about “looseness” and then there are usually friends who return from Vegas and make comments about “tighter slots”. So what exactly is a player’s perception while at a slot machine? It seems that perceived payout and actual hold percentage would vary widely. Label something a “bonus spin” and its perceived as a payoff of some sort by the player. Award the player a free room or a free buffet and some players might consider that a payoff. So in what manner is an ignorant player’s perceptions altering the effect of actual slot hold percentages?

Players will play at a double-zero roulette wheel when a single-zero roulette wheel is but a few steps away. Players will play at a craps table with less than optimal field bets. Players often don’t even realize whether a blackjack dealer is hitting soft 17 or not, despite the large type letters on the layout. And I would suspect that the least sophisticated gamblers are the ones who even contemplate using a slot machine, so why should we expect rational behavior in relation to slot hold percentages.