advertized payouts

In Louisiana for example casino payouts are set by the state to be no less than 80% and not more than 98%. If a casino advertises that their payout is 98% (the maximum allowed by state law) then wouldn't EVERY machine have to be set to pay 98% since they are not supposed to exceed 98% on any individual machine?

Louisiana has several different types of gaming establishments, and maybe one of them is limited to 98%, but generally I believe the allowed range is 80% to 99.9%, as listed in the American Casino Guide.

The primary exception is the "truck stop" video poker casinos, which are limited to 94%.

Yeah, riverboats are 100% maximum in Louisiana along with many other states including neighbor Mississippi. Most "riverboat" states are capped at 100%. My home state of Missouri may be the only one with no maximum that has riverboat gambling. But 100%+ VP hasn't existed in Missouri since at least 2009 anyway.

The "truck stop" rule in LA is pretty harsh. It is still 100% max in Illinois bars or truckstops. I have yet to find a game that good yet, the best I have found was 7/5 Super Aces Bonus with a $500 Royal w/5 credit bet (97.61% 1 credit; 97.92% 5 credits). Most games are what you would expect at many casinos for nickels/pennies. 6/5 Bonus, 7/5 JoB, 7/5 DDB, 8/5 TDB, etc.

And to answer OP's question. No, as long as they word it correctly, only one unit, or one bank (depending how they word it) needs to be the advertised percentage.

Why is there a cap on payout percentage anyhow?

I'd firmly lump that into the "if you want to sell at a loss, that's your problem" category.

Quote: Venthus

Why is there a cap on payout percentage anyhow?

I'd firmly lump that into the "if you want to sell at a loss, that's your problem" category.

I agree too, but it could be a prevention to further convince players that they can "beat the casino". Also offering +EV games is an egregious loss leader, and state lawmakers may worry it will end up lowering revenues and/or their cut of it. But I think anything under a 100% cap is particularly ridiculous (e.g. Minnesota - 98%).

Funny story about advertised paybacks and maximum payback. The Mountaineer used to have signs for their $5 1 coin slots saying "these games pay up to 95%", but all the machines in the casino could only pay up to 95% since the state cap is 95%. Sadly, I think the sign is gone now, so if there was one machine set to 95%, it's gone. They have since raised the maximum bet from $5 to either $50 or $100 and I would hope they have them set somewhere near 95% if someone is making $50 bets.

Quote: tringlomane

I agree too, but it could be a prevention to further convince players that they can "beat the casino". Also offering +EV games is an egregious loss leader, and state lawmakers may worry it will end up lowering revenues and/or their cut of it. But I think anything under a 100% cap is particularly ridiculous (e.g. Minnesota - 98%).

I agree with you pal. It is impossible to set 100%. That would be a scam casino anyway.

You can actually influence casino advertising. Its easier than you think. Long ago, I sent an email to the Director of Table Games at one off-strip casino humorously commenting on the fact that he works at a casino where the odds favor the player. I commented that I would be reviewing the Gaming Board regulations regarding advertising and a few weeks later there was a trade announcement that some Web Development Firm had been hired to re-vamp the casinos web site.

Quote: Venthus

Why is there a cap on payout percentage anyhow?

I'd firmly lump that into the "if you want to sell at a loss, that's your problem" category.

The reason is because the state only gets money from a percentage of the win so they want to make sure the games are going to regularly generate win.

Quote: Venthus

Why is there a cap on payout percentage anyhow?

I'd firmly lump that into the "if you want to sell at a loss, that's your problem" category.

I would think it would be to prevent the casino from advertising ridiculous payout. For example, a casino could advertise that they have machines that pay up to 200% returns, when in actuality they only have one machine that pays that way.

Also, aren't casino allowed to aggregate their total returns on slot machines? If that was the case, they could advertise that they pay up to 100 percent. They in actuality could only have one machine that paid at two hundred and thirty thousand percent, and then keep that at penny level and constantly closed.

In short, I think it's more for consumer protection than you think.

Quote: DRich

The reason is because the state only gets money from a percentage of the win so they want to make sure the games are going to regularly generate win.

There was a time I was collecting for numbers. Yes, it was illegal. Paid 700 to 1 straight. Never took a nickle from a kid or anyone who could not afford to play. Now the state has vending machines for scratch tickets, any kid can buy and get an adult to cash!

Byebye 700-1 Hello 500-1 and TV advertising !

Quote: Buzzard

There was a time I was collecting for numbers. Yes, it was illegal. Paid 700 to 1 straight. Never took a nickle from a kid or anyone who could not afford to play. Now the state has vending machines for scratch tickets, any kid can buy and get an adult to cash!

Byebye 700-1 Hello 500-1 and TV advertising !

You probably beat up the kid for his nickel whose parents couldn't afford to play. Numbers were probably rigged. (better add a smiley face)

Actually, the numbers were off the parimutuel payouts at the track, when I was collecting. But during WW2, the numbers were the last 3 numbers of US War Bond sales listed in the Baltimore Evening Sun newspaper. And yeah, the fix was in. Big scandal.

Quote: Yo11

I would think it would be to prevent the casino from advertising ridiculous payout.

In a sense casinos actually do have ridiculous advertisements on payouts. They announce DOLLAR payouts but obscure any information as to machines. So they dazzle someones dreams by saying two million dollars paid out. And some mesmerized customer shows up and plays without even reading the machine he is playing at.