bobsims
bobsims
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September 19th, 2014 at 8:50:41 PM permalink
Lets take the El Cortez website at its word and assume that for the year ending June 30, 2014 their slots payed out 43% more than the Strip and 36% more than the Clark County Average.
Exactly what percentage did the El Cortez slots payout?
CrystalMath
CrystalMath
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September 19th, 2014 at 10:28:03 PM permalink
I'd say 95.75%. IIt's deceptive advertising. I'm certain that the house edge is 43% and 36% lower than the Strip and Clark county.
I heart Crystal Math.
odiousgambit
odiousgambit
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September 20th, 2014 at 1:51:20 AM permalink
I wouldnt be surprised if the return isnt 36-43% and some dufus like the one pictured declared the math correct. [j/k][I think]

the next time Dame Fortune toys with your heart, your soul and your wallet, raise your glass and praise her thus: “Thanks for nothing, you cold-hearted, evil, damnable, nefarious, low-life, malicious monster from Hell!”   She is, after all, stone deaf. ... Arnold Snyder
bobsims
bobsims
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September 20th, 2014 at 6:29:50 AM permalink
Well that isn't deceptive, if it's true.
I guess the rub is where does one find "Strip" and "Clark County Average" figures for the year ending June 30, 2014?
ThatDonGuy
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September 20th, 2014 at 8:48:52 AM permalink
Quote: CrystalMath

I'd say 95.75%. IIt's deceptive advertising. I'm certain that the house edge is 43% and 36% lower than the Strip and Clark county.


That's about what I get as well. It's not "we returned 43% more" but "we kept 43% less" - two entirely different things.

I don't think there is enough information to solve this as stated. However, I looked up the numbers; Clark County slots had a 93.34% return, and the Strip had a 92.5% return, in that period.

If you interpret "43% more" as "we kept only 57% of what the average Strip casino did", then the hold was 57% of 7.5%, or 4.275%; similarly, using 66% and 6.66% gets 4.2624%. Those are returns of 95.725% and 95.7376%, respectively.

Oh, and pardon me for being pedantic, but algebra is a branch of mathematics, so all algebra problems are "math problems". Perhaps the OP meant "arithmetic problem"?
ThatDonGuy
ThatDonGuy
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September 20th, 2014 at 8:49:47 AM permalink
Quote: bobsims

Well that isn't deceptive, if it's true.
I guess the rub is where does one find "Strip" and "Clark County Average" figures for the year ending June 30, 2014?


Here - the far right column is for the 12 months ending 6/30/2014.

Link to the master page
bobsims
bobsims
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September 21st, 2014 at 4:29:04 PM permalink
Thank you for the link. Bouncing around the numbers it looks like 95.725 % is the answer. Shocking, considering the place is loaded with penny slots. Though as my father tells my wife "all 98% return means is that they are stealing for money at a 2% rate compounded 1000 times an hour".
Still; beats the hell out of those 88% penny slots on the Fabulous Strip.
tringlomane
tringlomane
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September 21st, 2014 at 6:24:19 PM permalink
Quote: bobsims

Thank you for the link. Bouncing around the numbers it looks like 95.725 % is the answer. Shocking, considering the place is loaded with penny slots. Though as my father tells my wife "all 98% return means is that they are stealing for money at a 2% rate compounded 1000 times an hour".
Still; beats the hell out of those 88% penny slots on the Fabulous Strip.



Keep in mind slot paybacks lump in video poker too. And the paytables at El Cortez are generally better than the strip.
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