Can progressives be capped?
June 16th, 2020 at 5:32:00 PM
permalink
There is a separate game in Bingo that is advertised as a progressive but the money to win is capped. Is this legal? Where is the extra money going once they have capped the winnings? Game is in the state of Nevada
June 16th, 2020 at 5:59:33 PM
permalink
Yes. Nevada Gaming Regulation 5.110(4):
"A licensee may limit a progressive payoff schedule to an amount that is equal to or greater than the amount of the payoff schedule when the limit is imposed. The licensee shall post a conspicuous notice of the limit at or near the games(s) or machine(s) to which the limit applies."
"A licensee may limit a progressive payoff schedule to an amount that is equal to or greater than the amount of the payoff schedule when the limit is imposed. The licensee shall post a conspicuous notice of the limit at or near the games(s) or machine(s) to which the limit applies."
June 16th, 2020 at 7:21:22 PM
permalink
It's basically goes to the house because because you're paying the same price to play once the progressive gets capped, no?
June 17th, 2020 at 12:04:41 AM
permalink
The money could go to the backup fund, allowing the reseed to be higher than the minimum.
Casinos are not your friends, they want your money. But so does Disneyland.
And there is no chance in hell that you will go to Disneyland and come back with more money than you went with.
- AxelWolf and Mickeycrimm
June 17th, 2020 at 1:35:28 AM
permalink
In the UK the fruit machines have a maximum payout (currently £20k for casinos) and they have to abide by the RTP quoted. Having seen some par sheets, this is made up of a percentage going into the fund. So all the money that goes in must eventually come out. Most also have lower "jackpots" (e.g. Bronze, Silver, Gold). So I guess there are algorithms so collecting the re-seeding amounts and increasing the various jackpots, and any excess stays in the players' pot.
It used to be different in bingo. The house had to say how much it took on each game ("page"/"book" in paper days) but was allowed to take less or, occasionally, pay out more ("Added Prize Money" "APM"). There used to be a limit on how much APM you could pay in a week. So a jackpot page (one might be £50 house rising to £500 if called very quickly, another might have a lucky number rising by £10 each week). Another, which I liked as I won £500, was a Monopoly like board where if you landed on the right squares you got extra money (the roll dependent on the number you called up on.)
(Now there's a maths puzzle - you roll one die, how often do you land on the £500 square! ps I haven't worked out the answer.)
It used to be different in bingo. The house had to say how much it took on each game ("page"/"book" in paper days) but was allowed to take less or, occasionally, pay out more ("Added Prize Money" "APM"). There used to be a limit on how much APM you could pay in a week. So a jackpot page (one might be £50 house rising to £500 if called very quickly, another might have a lucky number rising by £10 each week). Another, which I liked as I won £500, was a Monopoly like board where if you landed on the right squares you got extra money (the roll dependent on the number you called up on.)
(Now there's a maths puzzle - you roll one die, how often do you land on the £500 square! ps I haven't worked out the answer.)
