On Thu, 22 Jul 2004 13:25:18 -0400, "L. Cook" <togrul@fuse.net> wrote:
>
>"paora" <paulsy@dell.com> wrote in message
>news:40ff3bfd.19046813@news.individual.net...
>> They can use all the book keeping and accounting services which claim
>> 'make them honest' buy saying 'we pay out 96%' because we use P&C to
>> check our rates really means fuck all to the online casino gambler.
>>
>> Every , that's EVERY gambler at any online casino can be a LOSER and
>> the online casinos can still guarantee a 96% payout.
>>
>> A 96% payout just means that every bet you make only has to return you
>> a max 96% of each bet you make. You actually never have to ever make a
>> profit (more than your deposit) and still be guaranteed a 96% payout.
>>
>> 1st bet returns you 96% of your original bet.
>> 2nd bet returns you 96% of 96% of your orignal bet
>> 3rd bet = 96% of 96% of 96% of your original bet
>> 4th = 96% of 96 % of 96% of 96%.......
>>
>> Now do you see how they legally steal your money?
>
>That's not exactly how it works. When a casino advertises, say, a 98%
>payout, what that actually means is that for every dollar that cycles
>through the slot machine (we'll use a slot for this example) the casino
>keeps two cents. For every $100, they keep two bucks. That doesn't mean
>that you are going to win anything. You could feed $1000 in a machine and
>not win a dime. It's merely an average, because the next person to sit in
>your seat could hit the jackpot on the first pull.
>
>You see, the casino is in it for the long haul. They buy a slot machine for
>around eight grand and set it to have a 98% payout. That means, over the
>life of the machine, which will be many years probably, they will end up
>getting around 2% of all the money that ever went through that particular
>machine. Doesn't matter if one person played it all the time or there were
>a million players. These payouts are set up by the casinos using the
>standard random number generator and are strictly overseen by the gaming
>commission. And, yes, the online casinos, the legit ones, are overseen by
>the same gaming commission that oversees the casinos in Las Vegas.
>
>There are many many scam artists out there. But, if you want to play a
>legit online casino, there certainly are some. Do a little homework,
>research it a bit, then have fun. As far as legally stealing? Nah.
>Gambling is an adult choice. Furthermore, one doesn't gamble to make
>money--you get a job to do that. Gambling is entertainment, no more, no
>less. If your fun was worth what you 'spent', then you didn't get hurt.
>
Same thing said as far as I'm concerned.
The payout rate isn't so much the issue - it's the fact that the
software can fuck you around to the casino's advantage more than the
chance of the turn of a REAL roulette wheel.
Online casinos can steal a good portion of your 'bank' at the start of
play ( and they do that often ) and then spend the rest of the time
giving and taking with the giving being a little bit less than the
taking until eventually they clean you out or you give up and let them
keep what they already managed to cheat out of you.
Yep, gambling is entertainment for 99% of people and losses are to
expected but not at the rate which online casinos deem to be fair -
your money will last a lot longer at any real casino than it will at
any online outfit.
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