Post
Topic
Board Gambling discussion
Re: We lose on the long run through return percentage
by
Silberman
on 28/01/2023, 04:17:45 UTC

I just googled the return percentage of online casinos and saw different percentages that doesn't seem real. A slot machine can be written to pay out 98%, but its programmed to pay 90% and it's publicized that way to attract more people to play using that slot. Though one slot could be paying out that amount in the casino, yet my point is that no casino offers 100 percent payout that means if a slot pays out 94 percent for every 100 dollar bill spent on that machine the player losses 6$ to the casino. That is if you play longer times you'll lose, and we can almost never stay atop of the slot machines after long period of plays, unless you win a jackpot. Even if you win a huge amount, you can lose. They are numerous stories of people who won the jackpot and ended up spending the whole money back on the casino within a short period, 1 or 2 years, they lost the jackpot.


Isn't it?

Inspired by Jean Scott - Frugal Gambler
But that is common knowledge, a casino like any other business needs to make money to keep themselves open, so on each one of their games they give themselves an edge so over the long run they can beat the players, some gamblers may see this as unfair but every business works this way, if you buy a product online which cost you 100 dollars do you actually believe such a product took 100 dollars to make? It took way less and the difference between the price at which it was sold and the price to make it are the profits the seller keeps for themselves.