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Published 11:39 AM EDT Jul 11, 2014

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Gamblers have the best odds of winning at Greater Cincinnati slot machines if they play at Miami Valley Gaming.

The Turtlecreek Township racino paid 92 percent of all wagers back to gamblers in June, according to an Enquirer analysis of new data from Ohio and Indiana regulators.

Across all 22 gambling venues in Ohio and Indiana, Miami Valley Gaming tied with Hollywood Casino Columbus and French Lick Resort in southern Indiana as having the 'loosest' slots. (Kentucky does not have legalized gambling.)

In theory, a 92 percent payout means the average gambler who makes $100 worth of bets would keep $92. In practice, most gamblers go to a casino with a maximum amount they can lose – say $100 – and lose part or all of it. Occasionally, gamblers get lucky and leave with more.

Slot machines are programmed to let gamblers win a little bit to entertain and entice players to keep making bets. In practice, a gambler walking into a casino with $100 in his or her pocket could place $1,000 worth of bets.

The difference of the odds across Greater Cincinnati's six gambling venues is razor thin for individual players: Belterra Casino Resort in Florence, Indiana, had the worst average June payout: 90.8. – just 1.2 percentage points less than Miami Valley.

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But the perception of any sort of edge can prove a powerful draw for serious gamblers, and can be an important marketing tool for casinos.

Jeff Nelson, Miami Valley Gaming's senior director of marketing, said more generous payouts are all part of his racino's business plan.

'It's part of our marketing strategy: We want people to be comfortable and where some people are hitting jackpots and walking out with some money in their pocket,' Nelson said. 'If you only pay out 85 percent, people are not coming back.'

Regulators require gambling venues to set slot machines to pay out a minimum of 85 percent in Ohio and 80 percent in Indiana, but operators are allowed to be more generous for competitive reasons.

'As a gambling market gets more competitive, casinos and racinos have an incentive to pay out more to gamblers,' said David Schwartz, directer of the Center for Gaming Research at the University of Nevada in Las Vegas.

The Enquirer's analysis shows how that works. Hollywood Casino Lawrenceburg, which dominated the region's gambling before Ohio competition arrived, has improved its payout over time.

Before rival Horseshoe Casino Cincinnati opened in March 2013, Hollywood's payout ratio was closer to 90 percent and has since been closer to 91 percent. That adds up to serious money: $1 million-plus more in monthly payouts – for a casino that handles more than $150 million in monthly bets.

Schwartz said casual gamblers will pay more attention to a venue's proximity to home or work than they will to a slight increase in the odds.

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'Those who pay attention to the percentage tend to be the most avid gamblers,' Schwartz said.

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The opening of the Horseshoe in downtown Cincinnati was the region's first new gambling venue since Belterra Casino Resort opened in 2000.

Since then Miami Valley Racing opened in December, and Belterra Park Gaming & Entertainment Center in Anderson Township opened in May.

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The best slots odds in Ohio and Indiana in June

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