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In the olden-days of mechanical reel slot machines it was pretty easy to figure out the complete math of a slot machine. What you saw inside the machine was how the machine was 'programmed.' If there were ten symbols on each reel, you could calculate the probability of a particular combination occurring based upon those ten symbols. Today, however, Successful Slots And Math Design
But definitely, completely different than a slot machine.” And there is a legit difference, even if the average player won’t necessarily notice. The math behind the scenes, Gomes notes, is completely different, based on old horse races and a pari-mutuel wagering system where players are all chipping in to a pot of money they’re playing for. Are Slot Machines Honest? - Gambling Sites