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No, slot machines do not pay more often with higher bets. The outcome of each spin on a slot machine is determined by a random number generator, so the amount of the bet does not affect the likelihood of winning. However, higher bets can result in larger potential payouts if a winning combination is hit.
Slot machine odds are some of the worst, ranging from a one-in-5,000 to one-in-about-34-million chance of winning the top prize when using the maximum coin play.