Posted on 03/05/2014 7:38:49 AM PST by Kaslin
Slots KEEP 97-98% of the money they take in.
No, in fact people that win too much tend to disappear...
I bet on the House when buying stocks back in mid 2009. Made a large amount of my “crash” loses back by year end.
Try again. They pay out 88-95%. Source: http://www.americancasinoguide.com/slot-machine-payback-statistics.html#Nevada
They make a lot of money on that 5-10% margin. Other table games have similar payout rates in the long run.
This news?
Don’t know why this was a Dave Ramsey question. I never personally got the whole gambling thing. I do believe that our brains and their pleasure centers(Dopamine receptors) are wired differently for pleasure. Some find pleasure and a rush in sex, some food, some gambling, some booze, drugs. Mine is NOT gambling and I have won at the blackjack table, but was able to walk away once I had more chips there than when I started.
I went to a casino exactly TWICE
Both times I figures I would spend about $100, the usual amount I would spend for dinner and a movie
One time I came home with $46, the other I came home with about the same.
So, I had a couple of hours of fun for less than a normal night out. If you look at it that way you are probably OK
But if you go there to win and solve your money problems, you are probably doomed
I've been to plenty of casinos around the country. I've lost money & won money. Play the right games, be disciplined about your money & don't get greedy.
It's funny how many anti-gambling fundamentalists think no one EVER wins ANY money. I suspect most of them have never set foot in a casino.
I like to play blackjack. Sometimes I win. Sometimes I lose. But I always have fun, and the cost of that fun is however much I wager in an evening. Whether I make any of it back, or not, is immaterial.
More than a few Blackjack players have figured out how to win. They are then banned for life. Some resort to disguises to play. Once they are caught doing that, something worse could happen, especially so when the mob ran Las Vegas.
One of our So Cal equipment operators went off to one for the weekend after a friday of work. He arrived, took his bag up to his room, went to eat dinner, pulled a slot and won $10,000 on the way there, ate dinner, went upstairs and got his bag and checked out. He knew how to stay ahead on that one ;-)
Thank you Captain Obvious.
Casinos gladly comply w/ all L/E directives---b/c they value their licenses which are easily lifted if they screw-up.
FOR EXAMPLE---Most casinos will not accept wire-transfers of monies from gamblers in govt locations----since they feel the monies are a result of stealing.
However, it is conjectured money-laundering takes place---when large amounts of untraceable chips are bought---but not cashed in. The purchase can be listed on tax returns as a loss. (The chips can be cashed in casinos worldwide.)
The MIT blackjack team of the early 90s was able to win—but even they got identified eventually. However, their system of playing was amazingly sophisticated. The only other successful effort from that era of which I have information was also a sophisticated team organization and it was also staffed with university students. These teams literally are more scientifically advanced than the casinos.
It's worse than that. It's not mob thugs who punish the winners. It is legitimate state legislators in the legitimate state capitol writing legitimate state laws voted-in by legitimate voting citizens who authorize the jail and fines and punishments for casino customers who learn how to consistently win.... And these same legislators, etc., codify legitimate law allowing the casinos to literally take money out of your hand and put it into their pocket, and give you literally nothing in return except loud noise and loud lights. State regulated casinos and state lotteries are the epitome of unjust, immoral, state activity.
Not propaganda. In Nevada payout rates are set by law. In Indian Casinos, the payout rates may or may not be regulated depending on the state.
Did you even read the source I linked to? I thought not.
You literally took money out of your pocket and placed it into a collection pot of some other guy. And got NOTHING.
You saw no movie. You got no burger and fries. You had to pull a lever. You were assaulted by noise and lights. You participated in an industry which destroys marriages and families by preying on the unhealthy urges and addictions of men.
I've done this too. It's not fun. It's wicked. And the state endorses it.
Just how do you “count cards” with SIX deck black jacK. With six decks that is 24 aces to keep track of. It is ridiculous.
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