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Machines are also known to intentionally set aside money, which is later awarded in a series of wins, known as a “streak”. The minimum payout percentage is 70%, with pubs often setting the payout at around 78%. Modern slot machines are controlled by EPROM computer chips and, in large casinos, coin acceptors have become obsolete in favor of bill acceptors. These machines and their bill acceptors are designed with advanced anti-cheating and anti-counterfeiting measures and are difficult to defraud. Early computerized slot machines were sometimes defrauded through the use of cheating devices, such as the “slider”, “monkey paw”, “lightwand” and “the tongue”. Many of these old cheating devices were made by the late Tommy Glenn Carmichael, a slot machine fraudster who reportedly stole over $5 million.
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