sammydv
sammydv
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July 17th, 2016 at 4:23:26 PM permalink
There was a time when casinos had 8x10 sheets proclaiming your winning return odds on games.
Specifically when they stated slot odds of return.

I've noticed in the last few years, sometimes these informative tomes aren't quite in easily readable places and in smaller fonts. But I recall the claim basically is like 98% return on slot games. And here is my question. What does this really imply? I've read some say the wording is 98% on any given game in the casino, but not all games AND this has been seen if it is interpreted as publicized on the wall the return is NOT for one visit, but may be for a whole year worth of playing any one game. In other words this wording is deceiving.

Such as, I've made 10 visits in one year, played the same game and only walked out 3 times with a little more than I came in with. Are those 3 times that I got a few bucks my 98% return? If so, my percentage of return for the total visits sucks. And if I played 100 a visit, and quit with 50 dollars over, I'm still in the hole for something like 600 bucks.
RS
RS
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July 17th, 2016 at 4:31:51 PM permalink
98% return means for every $1 wagered, you expect to get back $0.98, and expect to lose $0.02 (per $1 wagered). Doesn't matter how much you start with ($100 or $1000), just matters how much you play through. Of course, slots and all other games have variance, so you're not going to lose $0.02 every single spin....and oftentimes a good chunk of the return comes from the top payout (ie: royal flush in VP...or 7-7-7 in blazing sevens).
Boz
Boz
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July 17th, 2016 at 4:35:09 PM permalink
Regardless of 85% or 99% return, if you spin once odds are you are going to lose. If you spin 100 times, even higher odds you are going to lose. If you won 3 out of 10 times, good for you!

Next question, are you f'n serious?? No wonder you lost money on Ahigh's company stock.
FleaStiff
FleaStiff
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July 17th, 2016 at 4:41:57 PM permalink
Signs and placards can be confusing or misleading. Usually there is a small "up to" hidden some where before that large type 98 percent return. If its 'all machines at this kiosk' are 98 percent, then you can be sure that they are. In the long run, the machine returns 98 percent. All gambling seems to be 'short run versus long run'.

That is why people play roulette with its 5.26 percent 'house edge'. In the short run, they can get a 35:1 payout then take that money and run. Its the house that just stays there grinding away with the long term odds being in their favor. That is why when you put five dollars down on Red or Black, the old guy in the green eye shades sees 26 cents, instead of five dollars.
Wizardofnothing
Wizardofnothing
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July 17th, 2016 at 7:32:02 PM permalink
Quote: Boz

Regardless of 85% or 99% return, if you spin once odds are you are going to lose. If you spin 100 times, even higher odds you are going to lose. If you won 3 out of 10 times, good for you!

Next question, are you f'n serious?? No wonder you lost money on Ahigh's company stock.





That's funny
No longer hiring, donít ask because I wonít hire you either
billryan
billryan
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July 17th, 2016 at 10:47:38 PM permalink
In the late 90s I recall signs on some machines at Trump properties on the boardwalk stating this machine returned 98% or 100 % last month. They were pretty meaningless as past results mean nothing.
sammydv
sammydv
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July 18th, 2016 at 7:47:32 AM permalink
Quote: billryan

In the late 90s I recall signs on some machines at Trump properties on the boardwalk stating this machine returned 98% or 100 % last month. They were pretty meaningless as past results mean nothing.



The point being, casinos make a statement of some ridiculous return that maybe, some machine somewhere on a given day may give that return, when one reads the fine print, if it's there, that it means 'over time' and 'on any random machine, not all the time on all machines'. But 'all the time' is what they want people to believe. It's the wording, or lack of words to condition and misinform people. It's an empty, deceiving advertising bullshit that should go away and even ap's probably have a misconception of this advertising. It's all about long odds, as usual with casinos.

The longer you play the more you lose if a ploppy and that's all they want playing.
Twirdman
Twirdman
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July 18th, 2016 at 9:40:39 AM permalink
Quote: sammydv

The point being, casinos make a statement of some ridiculous return that maybe, some machine somewhere on a given day may give that return, when one reads the fine print, if it's there, that it means 'over time' and 'on any random machine, not all the time on all machines'. But 'all the time' is what they want people to believe. It's the wording, or lack of words to condition and misinform people. It's an empty, deceiving advertising bullshit that should go away and even ap's probably have a misconception of this advertising. It's all about long odds, as usual with casinos.

The longer you play the more you lose if a ploppy and that's all they want playing.



It means statistically the game returns 98% on average. No one would play a game that returned 98% on every spin. Do you even know what that means? That would mean that for a 1 dollar bet every hand you would lose two cents with no chance of winning. That would be the most boring game ever and no one would play it ever. You literally may as well just walk in and hand a portion of your paycheck to the cashier and walk out.

I don't think that anyone except absolute morons think that they will always get back exactly 98% or whatever of any bet because again if you have the possibility of winning more than 98% of your bet and the average return is 98% then that means you have to have the possibility of returning less than 98%
sammydv
sammydv
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July 18th, 2016 at 11:02:29 AM permalink
Quote: Twirdman

It means statistically the game returns 98% on average. No one would play a game that returned 98% on every spin. Do you even know what that means? That would mean that for a 1 dollar bet every hand you would lose two cents with no chance of winning. That would be the most boring game ever and no one would play it ever. You literally may as well just walk in and hand a portion of your paycheck to the cashier and walk out.

I don't think that anyone except absolute morons think that they will always get back exactly 98% or whatever of any bet because again if you have the possibility of winning more than 98% of your bet and the average return is 98% then that means you have to have the possibility of returning less than 98%



Where'd that even come from. Why not say 75% or 33.3%. Some may argue that the government dictated that and I believe that would be wrong as I think the casinos asked for that when all the government intervention was being formulated back in the wild west days of early organized casinos.
I'm not arguing the math or mechanics, I'm debating the why. And I submit it's a sham and always has been.
Crapola created by the casino brain trusts to keep people coming and losing. Not that hard of a concept.
Promise shit and not produce, yet keep the sham going.

Look at the state lotteries, they get huge, but people should notice you pick 1 to 75 numbers now. The lottery commission just added on 200 million to one more odds.
sammydv
sammydv
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July 18th, 2016 at 11:14:10 AM permalink
Quote: Boz

Regardless of 85% or 99% return, if you spin once odds are you are going to lose. If you spin 100 times, even higher odds you are going to lose. If you won 3 out of 10 times, good for you!

Next question, are you f'n serious?? No wonder you lost money on Ahigh's company stock.



I consider that a personal attack.
Are you capable of responding to a member without adding your personal quips?

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