Agreements further strengthen long-standing strategic partnership with Norway’s national gaming operator
VLT gaming machines are usually equated more with games like bingo, pull-tabs, scratch-offs, or lotto than they are with slot machines. This is because there are a pre-determined number of winners, and players are competing with each other for a prize rather than against the house. VLTs refer to Video Lottery Terminals. At brick and mortar casinos, VLTs are mostly located in casinos owned by Native Americans. They tend to feature games like bingo, lotto, scratch cards,. In addition, the state legalized VLT gambling at stand-alone hot spots' in 2001. The state also received substantial tax revenues from these other forms of gambling. Race track casinos pay annual licensing fees to operate VLTs and table games. The state taxes net VLT revenue at 53.5% and adjusted gross table game revenue at 35%. VLT Games Available More than 40 games are available, including reel, keno and poker. London, 08 December 2020 – Playtech, the world’s leading gambling technology company, today announces the signing of two new agreements to supply Norway’s national gaming operator Norsk Tipping with a range of Online Casino and Video Lottery Terminals (VLT) products. Both agreements follow two public procurement processes by Norsk Tipping.
Playtech, the world’s leading gambling technology company, has announced the signing of two new agreements to supply Norway’s national gaming operator Norsk Tipping with a range of online casino and video lottery terminals (VLT) products. Both agreements follow two public procurement processes by Norsk Tipping.
These agreements further extend the long-term strategic partnership between Playtech and Norsk Tipping. Playtech has supplied online casino games to the operator since 2016 and VLT platforms, games, terminals and services since 2003. The signing of the agreements will see this partnership extended and expanded within each product area.
The new online casino agreement means Norsk Tipping will be able to access Playtech’s ever increasing range of new and innovative online casino games, coming from its strong line-up of Playtech game studios including Origins, Quickspin, Vikings, Rarestone and Ash.
The VLT games agreement will see Playtech deliver its range of VLT games to Norsk Tipping’s terminals located throughout Norway. Playtech will supply its best-performing VLT content to the market and will also work closely with Norsk Tipping to create unique custom content for the Norwegian market.
Commenting on the deals, Shimon Akad, chief operating officer at Playtech, said: “Playtech content has proven to be very popular with Norsk Tipping’s players. We are excited to continue supplying our strong roadmap of content to them as part of developing a market-leading, modern and responsible online and retail game offering to their players.
“These new agreements are also a testament to our strength in games content for online casino and VLT retail markets, including the highly regulated and responsible-gaming oriented markets of Norway and the Nordic region. It also highlights our strategy of focusing on long-term partnerships with leading operators in regulated markets.”
Hans Erland Ringsvold, head of gaming operations at Norsk Tipping, added: “We are excited to continue our partnership with Playtech and look forward to launching their strong roadmap of online casino and VLT games on our platforms. We are confident that Playtech’s proven VLT and online casino expertise in a wide range of regulated markets will continue to provide great value for Norsk Tipping and support us in the delivery of our overall content strategy.”
It may look like a regular slot machine and play like one, but a video lottery terminal differs quite a bit in terms of how winners are determined.
VLT gaming machines are usually equated more with games like bingo, pull-tabs, scratch-offs, or lotto than they are with slot machines. This is because there are a pre-determined number of winners, and players are competing with each other for a prize rather than against the house. There is also not necessarily a winner in each game.
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Video Lottery Terminals (Class II machines)
VLTs are most often found in Indian gaming casinos or “racinos” (location with both a horse racetrack, as well as a casino). Each machine or terminal in a casino is linked together, forcing players to compete against one another for the prize, and with a set number of wins and losses, the group of machines is preprogrammed to payout at specific times.
The only catch for VLT machines is that players must announce their win in order to get the payout because the games are interactive. Although not every game has a winner, the game will be ongoing until a winner is determined.
As indicated by the name, video lottery winners are determined much like a lottery scratch card. Basically, when a game starts on a VLT, the system the machines are connected to randomly chooses a “scratch-off ticket” from those that remain. Once it receives the information regarding the winner, it sends the results to the VLT to reveal the winner, typically in some entertaining way.
Winning at VLT Machines
Obviously, the machine doesn’t have the ability to actually scratch off a ticket, but it does choose the winner from a pool, similar to a lottery ticket. Once all the outcomes in a pool are chosen, the central system receives a new pool.
The payouts can be slightly different on VLTs, as well. According to readybetgo.com, “The final results wouldn’t be noticeably different if the RNG simply picked one number from a group of numbers. Thus the mathematic methods of supplying the decisions in VLTs may be radically different than traditional RNG methods. But in the end, 1 in 10 is still 1 in 10, and 1 in 5,000 is still 1 in 5,000.” The artible goes on to explain that the reason VLTs can be slightly tighter is that they’re offered in areas where there is little competition. In fact, the typical payout is anywhere from 85% to 92%. So, if you’re playing in a casino that offers both VLTs and traditional slots machines, you’re probably better off with the latter.
Slot Machines (Class III)
Slot machines often referred to as “Vegas-style” or traditional slots are the machines you’re probably used to playing. Each traditional slot machine in a casino plays independently from other machines. The only way in which they are linked is usually in terms of the jackpot, but this is only for progressive networks.
Contrary to popular thought, there is no way to know if a certain machine is “hot.” The typical belief is that if a machine has just paid out, you shouldn’t play on it. This is simply not true. Because of the Random Number Generator, each machine has exactly the same likelihood of paying out. Unlike VLTs, slot machines are also not preprogrammed to pay out at any time, so you always have a chance at the jackpot!
Vlt Gambling Machine
When Do You Win?
To put players at ease who may have abandoned a machine in the past only to watch it pay out for the next player, you must understand that RNGs are programmed down to the millisecond, so the odds of winning if you had stayed are low. Because of this, the lever must be pulled at almost the exact time the winning number is generated.
Unlike VLTs, slot machine wins are immediate, and winners don’t have to announce their win to receive a prize. Although, I wouldn’t discourage any hooting and hollering if you’ve just landed a $10,000 jackpot. You earned it.