When Connecticut's two casinos opened in the early 90s, they did so by reaching an agreement with the State of Connecticut to pay the state 25 percent of their monthly slot revenues.

As a result, both Mohegan Sun and Foxwoods must report their total slot earnings to the state each month. In December 2010, Foxwoods earned $45 million on its slot machines, an increase of 1.2 percent over December 2009.

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Mohegan Sun took in $53.5 million dollars in December slot revenue. That's a 6 percent decline over December 2009, according to The Day of New London.

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In reporting its numbers, Mohegan Sun actually revealed some interesting information some gamblers might want to pay attention to.

Overall in December, $673,412,991 went through Mohegan's slot machines. It's a staggering number, referred to as the handle, by casinos. But Mohegan Sun only kept 7.94 percent of that total amount. That means more than 92 percent went back to gamblers.

What may be even more valuable information to the millions of people who drop dollars into those ringing, buzzing and screeching machines is that Mohegan Sun also breaks down which machines actually give gamblers the best odds at winning.

The casino has 6,404 slot machines scattered throughout it's sprawling gaming floors, and as most gamblers know, you can toss your money into those machines in many different denominations. But what the casino's December numbers show is that some of the 'cheapest' slot machines, actually have the worst odds for patrons.

For example, Mohegan Sun kept 11 percent of all of the money that went into its penny slot machines, with 89 percent returned to the players. That must be why the casino has more penny slots, 2,532 machines, than any other type. Not surprisingly, the majority of Mohegan Sun's slot revenue comes from these penny slots. Nickel slot machines took 12 percent, and give back 88 percent in December.

On the other side of the scale, the casino's $2 slots kept just 2.03 percent of the money that went in, giving back just under 98 percent to gamblers. The best deal for players, if you can afford it, was the casino's $10 slot machines, which kept a minuscule 1.77 percent of the money put into them, returning 99.23 percent to those spending their hard-earned cash.

In the middle were the casino's quarter slots, which returned more than 91 percent of the money put in back to patrons, and the $1 machines gave back more than 93 percent to gamblers.

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But for those who want to play those machines, their best bet may be to play Mohegan Sun's multi-denomination slots. Those are machines on which a player can choose to bet in different amounts. In December, they returned 95 percent of the money that went into them. So gamblers had better odds dumping quarters into a multi-denomination machine, than playing those same coins on the quarter slots.

There’s a sucker born every minute… and a ‘winning slot system’ for each of them

by Rob Wiser

Prior to the advent of the Internet, when I found myself unable to sleep, I’d sit up all night watching television infomercials. There was some truly spectacular crap being pitched on TV in the 1990s: food processors, body hair removers, spray-on hair, Chia Pets, torture racks guaranteed to give you six-pack abdominals (or your money back—but you’d better order now, because these things are selling fast!)…

One time, in my sleep-deprived stupor, I was nearly convinced to phone in my order for the Cash Flow Generator. I could never understand what it was exactly, or how it would enable me to generate an extra $20,000 a month in my spare time. But it was being hawked by the Rice brothers—midget twins in suits who billed themselves as “the Country’s Most Recognized Success Experts Listed in the Guinness Book of World Records as the World’s Smallest Twins.” (Now that’s saying something.)

Then there was Matthew Lesko, the guy who jumped around in a hideous question-mark-covered suit, babbling about how to get free products and money from the federal government.

But my favorites were the wildly enthusiastic “get rich quick” entrepreneurs like Tom Vu, the Vietnamese immigrant-turned-real estate tycoon who, while surrounded by bikini-clad babes on a yacht, jabbered in broken English about his millionaire-making techniques. (My favorite Vu quote: “Don’t listen to your friends! They’re losers!”)

Also keeping me entertained during those long sleepless nights: Dave Del Dotto, who showed how ordinary couples, relaxing by their new beachfront homes in Hawaii, were pulling down an extra $30,000 a month, thanks to his real estate secrets. (Actually, these infomercials never “showed” you anything, except for joyous testimonials. To learn the secrets, you had the order the kit/attend the seminar/hand over your credit card information.) And who could forget the boyish-looking Don Lapree, who preached the gospel of classified ads and 900 numbers—and how you could start building your own financial empire today.

Nowadays, when plagued with insomnia, I surf the Internet instead of channels. Cyberspace has really opened the floodgates for a new generation of snake oil salesmen. And they’re not just flogging sexual performance pills, bogus stock tips and motivational tapes. Some of these charlatans are targeting you—the slot machine player.

In fact, last night, I came across a website with this enticement:

“Discover how to make a minimum of $1,000 on the slot machines—EVERY NIGHT! Make the casino your personal money machine!”

Obviously, I had to continue reading. A guaranteed way to clean out the slots? What could possibly be in this huckster’s kit? A crowbar, a ski mask and a good pair of running shoes?

Slot Machine Odds At Foxwoods Play

As it turned out, he was selling a downloadable e-book. The sales copy contained a long list of bullet points, including: “Learn how to use the casino staff as your personal jackpot detectives! I’ll show you the five-minute system that will skyrocket your winnings.”

OK, wait a minute, I thought, taking my hand off my mouse. Now he’s bringing the “casino staff” into it. At this point, I knew the bullet points w