Williams life of luxury manual or insight on setting one up

[wtjames]

I have a friend who's selling one close to me but he knows little about it except everything works,but he has no info on how to set it up,my question is,are there different versions of this game? Also are these machines easy to setup as far as operators menu,percentages etc...also do these machines usually make good money or do they have to have 10,000$ in before they start holding? I don't know anything thing about these machines but I hear there pretty popular...thanks in advance

[kforeman]

we used to have a bank of LOL on our floor 3-4 years ago.  it was WMS participation so i didn't get to mess with the progressive at all but the machines were BB1's and the prog controller was a paltronics.  if the game you are looking at is a BB1 then the setup is really pretty easy once you go through it a few times.  i would be wary that the program may not function without a progressive though; it would suck to buy a game that just gives you a progressive error you can't clear. 
generally any machine with a big flashy sign or trademarked theme is going to have a shitty payback percentage on a casino floor.  the casino's usually lease these games so they have to cover the cost of the lease and still make a good profit.  when you get it home though you could pick from the available payback percentages and give yourself the best odds possible! 

[knagl]

also do these machines usually make good money or do they have to have 10,000$ in before they start holding?

Assuming that it's a Class III ("Vegas-style") machine with a random number generator, the result of every spin is random.  That means that there could be a ton of losing spins in a row (causing a big "win" for the house), or there could be a ton of winning spins in a row (causing a big "loss" for the house).  There is no magic dollar number that the machine needs to "take in" to affect its payout.  As I mentioned in your Pot-O-Gold thread, your operation has to be ready to handle those inevitable swings in order to survive.

This isn't for Life of Luxury -- in fact it's for a three-reel traditional slot with a 92% payback (8% house hold), but the concept here remains the same whether it's a 5-reel video game or a 3-reel traditional slot:



Look at the "lower limit" and "upper limit" for that game.  Those numbers are the likely range of payouts for the machine over "x" number of spins.

See how it isn't until 100,000 spins that the game even gets to a point where it's fairly certain to be making money for the house?  At 10,000 plays it could potentially have only paid out 76.15% (great for you), OR it could potentially have paid out 109.26% (bad for you).  If you keep the machine on your floor forever, it will make money in the long run, but anything can happen in the first few weeks, months, or years of operation of that machine.  You could potentially have to pay out thousands of dollars the first month you have the machine.  ...or at the same time, you could potentially make thousands of dollars in the first month you have the machine.  The swings can be pretty extreme, and I'll emphasise it again, your business has to have the cash in the bank to survive those swings or you won't survive.

Casinos make their money by grinding away 1 to 15 percent (typically) of all of the cash that comes through the door over the long term.  Casinos have tons of machines and virtually unlimited bankrolls, so they're able to "weather the storm" as it were when they have losing days, weeks, or months (that is, days, weeks, or months when they pay out more than they take in).