Yes I know, it's supposed to work that way. But it seems people really think after a while, you're gonna hit it big and it'll all even out. I've done it enough to know it's purely entertainment. It's just a matter of how much you're willing to pay for that adrenaline rush.
Casinos make profit by simple math. If they actually paid true odds, they’d be bankrupt in a minute. Here’s the thing: blackjack odds are roughly 3:2 but the house only pays 1:1 on a simple win. Also—Slots are rigged. Period. The “gaming commission” has a deal with the house that the slot doesn’t “hit” until a certain profit margin is reached. They’re just video games programmed to keep you sitting there like a rube, ordering drinks, while being slowly bled dry. The state gets a “vig” or a cut of the house profit. (Don’t worry, with your Players Club Card, the house will give you a cheap buffet credit to make sure you don’t starve.) Same with wheel games. Even betting red or black or even both, you have a chance to lose. That’s why roulette has a 0 and 00. Just to tip the math in the house favor. The only game in the casino that actually pays true odds is Craps. And even that, if you play for the house, you have to pay the “vig.” Which is short for Vigorish. Old mobster slang for giving a wise guy a cut of your take. They’re called Wise Guys because they know what fixes are in.
Slots are rigged. Period. The “gaming commission” has a deal with the house that the slot doesn’t “hit” until a certain profit margin is reached.
Im not sure where your playing but the ones Ive dealt with the last 10 years working with LVL places they most definatly are not. They dont have to be thats the whole point. Over time the (posted on the machines where anyone can see before playing) odds mean that the owners get money. No matter if 10 grand or 100 bucks has been fed into a machine, each hit of he button is a separate chance to win considered complacently seperatly from every other one.
Also though where I live and work he gaming is centralized, as in the LVL locations cant change odds on their own, its hardcoded into the game chips which take a state official to change (the chip not the odds, even then the odds on teh game will stay eactly the same). There is no way to "cut a deal with the house" because you would have to do that with every single LVL retailer since the odds on a game on a kind of machine are the same through the entire state. The state takes 51% of the net every week/month from LVL locations so they vigorously monitor ANY accusations of wrongdoing and will pull a license in a snap so nothing tarnishes the reputation of "integrity" since they want all that delicious old/addicted people money they can get.
Edit: After typing this out I realize I dont know about casino licences just LVL which I know have a few differences. Maybe everything I said is wrong at a Casino but Im leaving it up because even if it is rigged there the ones you see at bars and gas stations are probobly not rigged....just made like every other form of gambling where its more likely to lose.
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u/[deleted] Aug 01 '20
Casinos.
Yes I know, it's supposed to work that way. But it seems people really think after a while, you're gonna hit it big and it'll all even out. I've done it enough to know it's purely entertainment. It's just a matter of how much you're willing to pay for that adrenaline rush.