The fallacy of ‘hot’ and ‘cold’ slots is often seen as part of the hit frequency discussion and nothing could be further from the truth. When a slot game continues to pay out large sums of money, it is considered “hot” and is expected to stop soon, while games that have not yet produced a significant payoff are considered “cold” and expected to become “hot” immediately. The idea behind this logic is that the longer a game doesn’t pay out, the more likely it is to produce a positive outcome.
This is an error because it implies that the individual spin has an effect on the following spin. In fact, the game was not programmed to be affected in this way and if it did it would be considered a malfunction of the machine software. Modern-day titles use a sophisticated Random Number Generation (RNG) system, which produces completely random results on each spin regardless of what the result of the previous spin was.
This means you can either win the jackpot twice on two consecutive spins or make no wins at all, depending on your current luck. This is why slots are a chancy game because nothing is certain. This error, however, implies that good payouts are expected and everything is guaranteed.
In addition, fallacy is associated with extreme short terms, whereas hit frequency statistics are only accurate over the long term. For this reason, you should always ignore this ‘hot’ and ‘cold’ nonsense during any discussion of click frequency and know that an RNG system will keep up with the statistics over time.