Slot Machines Strategy: Biggest Myths about Slot Machines

Below are some of the biggest myths about slot machines.

slot machines stop on any possible set of stops with equal probability.
Truth; This is not true of modern slot machines. Some stops are much more likely than others.
slot machines are programmed to go through a cycle of payoffs. Although the cycle can span thousands of spins once it reaches the end the outcomes will repeat themselves in exactly the same order as the last cycle.
Truth; This is not true at all. Every trial on a slot machines is random and independent of all past trials.
slot machines are programmed to pay off a particular percentage of money bet. Thus after a jackpot is hit the slot machines will tighten up to get back in balance, and when a jackpot has not been hit for a long time it is overdue and more likely to hit.
Truth; The only part of this that is true is that slot machines are designed to pay off a particular percentage. However the laws of probability dictate that the longer the slot machines is played the closer it will come to its target payoff, even with every trial being completely random. A jackpot is equally as likely to be hit right after the last one and if it has been fifty million spins since the last one.
Hot/cold coins are more likely to yield good returns.
Truth; The temperature of the coin does not matter. It also does not matter how long it has been since the coin was last played.