aceofspades
aceofspades
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March 19th, 2014 at 12:35:26 PM permalink
State Senate approves VLT's for NY airports. (I like how the article states "Video Lottery Terminals a.k.a slots" lol )

Article
BleedingChipsSlowly
BleedingChipsSlowly
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March 19th, 2014 at 1:03:41 PM permalink
Quite different:

What Is the Difference between Video Lottery Terminals and Slot Machines?
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tringlomane
tringlomane
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March 19th, 2014 at 1:15:59 PM permalink
Unless NY law changes for the airport, you would much rather play in NY airports than McCarran at least, NY mandates a 90% long-term payout, the highest I have ever heard of. What's annoying about New York is that video poker also is predetermined so strategies and probabilities of video poker do not apply on their VLT machines.
Nareed
Nareed
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March 19th, 2014 at 1:39:46 PM permalink
I thought this was about gates and landing slots...
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hook3670
hook3670
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March 19th, 2014 at 1:41:48 PM permalink
Not all VLT's are class II. Maryland calls their slots VLT's(Delaware may also) and they are regular class III slots and video poker. They did it to help the referendum pass.
AcesAndEights
AcesAndEights
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March 19th, 2014 at 4:43:15 PM permalink
Can someone explain to me the disdain for VLTs, outside of the context of Video Poker?

From the VP angle, I totally get it. The game may look like Video Poker, but it's not dealt from a real deck, it's impossible to figure out the return percentage, there's no real strategy (the fairy comes and fixes your hand if you throw away a winner), etc. etc.

But compared to a regular slot machine, nothing about the VLT mechanism vs. an independent RNG machine inherently hurts or harms the players, as far as I can tell. A VLT game could be structured such that the RTP (return to player) of an average bet is 99% just as easily as an RNG machine could be programmed with an RTP of 80%. I understand that with the VLT approach, depending on specific implementation, the percentage might vary and not be constant from one hand to the next, depending on the pool of remaining "tickets." But that doesn't seem to be a negative on its face...in fact it might even be a positive, since VLTs might actually be "due" in the ploppy-understood sense, unlike a traditional slot.

Is it just that VLTs tend to be programmed with lower returns in general?
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BleedingChipsSlowly
BleedingChipsSlowly
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March 19th, 2014 at 5:22:45 PM permalink
Perhaps variance plays a role in why states prefer Class II VLT's. An RNG CLass III slot might have a "bad day" as far as the state is concerned and award too much in returns. As I understand it, the state is guaranteed their pound of flesh with Class II VLT operations. That is, the state isn't gambling on their returns!

Edit: Added closing comment.
“You don’t bring a bone saw to a negotiation.” - Robert Jordan, former U.S. ambassador to Saudi Arabia
Lemieux66
Lemieux66
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March 19th, 2014 at 5:33:59 PM permalink
Quote: AcesAndEights

Can someone explain to me the disdain for VLTs, outside of the context of Video Poker?

From the VP angle, I totally get it. The game may look like Video Poker, but it's not dealt from a real deck, it's impossible to figure out the return percentage, there's no real strategy (the fairy comes and fixes your hand if you throw away a winner), etc. etc.

But compared to a regular slot machine, nothing about the VLT mechanism vs. an independent RNG machine inherently hurts or harms the players, as far as I can tell. A VLT game could be structured such that the RTP (return to player) of an average bet is 99% just as easily as an RNG machine could be programmed with an RTP of 80%. I understand that with the VLT approach, depending on specific implementation, the percentage might vary and not be constant from one hand to the next, depending on the pool of remaining "tickets." But that doesn't seem to be a negative on its face...in fact it might even be a positive, since VLTs might actually be "due" in the ploppy-understood sense, unlike a traditional slot.

Is it just that VLTs tend to be programmed with lower returns in general?



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Nareed
Nareed
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March 19th, 2014 at 5:50:42 PM permalink
Quote: AcesAndEights

But compared to a regular slot machine, nothing about the VLT mechanism vs. an independent RNG machine inherently hurts or harms the players, as far as I can tell.



It might.

I don't know how they work, so maybe I'm all wrong. But in some lotteries there is a set number of prizes of varying amounts (think scratch cards, for example). If VLT slots operate that way, it means there is just one jackpot, say, per period of time, ten second prizes, and so on. Whereas on a regular, random slot machine in Vegas, the odds of hitting a jackpot are the same for every pull.
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MathExtremist
MathExtremist
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March 19th, 2014 at 6:24:33 PM permalink
Quote: BleedingChipsSlowly

Perhaps variance plays a role in why states prefer Class II VLT's. An RNG CLass III slot might have a "bad day" as far as the state is concerned and award too much in returns. As I understand it, the state is guaranteed their pound of flesh with Class II VLT operations. That is, the state isn't gambling on their returns!

Edit: Added closing comment.


FYI, electronic pull-tab VLTs are not Class II. They are Class III, but that's only relevant when a tribal gaming operation runs them anyway because IGRA only applies to tribal gaming. In New York, the VLTs are regulated by the state, and the state can make whatever rules it wants.

Edit: I just read that article about the purported difference between slots and VLTs. It is very wrong.
"In my own case, when it seemed to me after a long illness that death was close at hand, I found no little solace in playing constantly at dice." -- Girolamo Cardano, 1563

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