IAchance5
Joined: May 28, 2010
• Posts: 147
February 20th, 2011 at 4:37:56 PM permalink
I just saw on the MGM Grand website that there are some custom \$1 MGM progressive slot machines that are called "Majestic Lions", and they claim that they payout \$750,000 per day! Can that be right? It doesn't say how many they have, but how can that be making them any money if it's paying out that much each day? See here: http://www.mgmgrand.com/casino/slots-gaming-machines.aspx
thecesspit
Joined: Apr 19, 2010
• Posts: 5936
February 20th, 2011 at 4:40:46 PM permalink
Simply have \$800,000 of coin in per day...
"Then you can admire the real gambler, who has neither eaten, slept, thought nor lived, he has so smarted under the scourge of his martingale, so suffered on the rack of his desire for a coup at trente-et-quarante" - Honore de Balzac, 1829
IAchance5
Joined: May 28, 2010
• Posts: 147
February 20th, 2011 at 4:49:36 PM permalink
Quote: thecesspit

Simply have \$800,000 of coin in per day...

But do you think that they get \$800,000 of coin in each day? For them to post this on their website, doesn't that require them to at least payout \$750,000 each day?
DJTeddyBear
Joined: Nov 2, 2009
• Posts: 9656
February 20th, 2011 at 5:08:31 PM permalink
You realize that it does NOT say that there's a single \$750,000 jackpot, right? Over \$750,000 is the total paid out. And keep in mind, that counts the amount paid as credits that are re-bet and lost.

Do the math - Stop and think how much a typical machine takes in.

A \$1 slot has a max credit of, what?, \$3 per spin? At an average of only 10 spins per minute (it's probably faster), that's \$30 per minute or \$1,800 per hour.

You only need 35 machines, at 12 hours per day, to cover \$750,000. There's probably way more than 35 of these machines averaging more than 12 hours a day....
Superstitions are silly, childish, irrational rituals, born out of fear of the unknown. But how much does it cost to knock on wood? Note that the same could be said for Religion. I.E. Religion is nothing more than organized superstition.
IAchance5
Joined: May 28, 2010
• Posts: 147
February 20th, 2011 at 5:49:16 PM permalink
Quote: DJTeddyBear

You realize that it does NOT say that there's a single \$750,000 jackpot, right? Over \$750,000 is the total paid out. And keep in mind, that counts the amount paid as credits that are re-bet and lost.

Do the math - Stop and think how much a typical machine takes in.

A \$1 slot has a max credit of, what?, \$3 per spin? At an average of only 10 spins per minute (it's probably faster), that's \$30 per minute or \$1,800 per hour.

You only need 35 machines, at 12 hours per day, to cover \$750,000. There's probably way more than 35 of these machines averaging more than 12 hours a day....

Yes, I knew that it wasn't a single payout, but even \$750,000 in pay backs per day seems quite a lot for a \$1 machine...