First time ever at a casino and won $500

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Current Events » First time ever at a casino and won $500
Brother took me for my birthday a bit early. I can easily see how addicting it can get. He is super hooked though. I just wanted to cross visiting one off my bucket list.
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To make sure you don't get addicted, you should give the money to me. That way you have no upside that makes you want to keep going.
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pegusus123456 posted...
To make sure you don't get addicted, you should give the money to me. That way you have no upside that makes you want to keep going.

You should then give me the money, that way the money is double safe
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If you give me the money, I'll go gambling, double it, and then give you back $600.
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Be careful. Those slot machines are designed to get you winning early to get you hooked on playing. Then before you know it, you'll be on a very long losing streak and already spent up all the money you won. Plus the money you brought with you to gamble with.
"Never confuse a single defeat with a final defeat." - F. Scott Fitzgerald
ShaneMcComez posted...
Be careful. Those slot machines are designed to get you winning early to get you hooked on playing. Then before you know it, you'll be on a very long losing streak and already spent up all the money you won. Plus the money you brought with you to gamble with.

Had a friend who would go to this gambling place. He said certain days they'd give you a free dollar to get started and like you said they'd have you winning early to hook you but he would cash out as soon as he had enough for a pack of smokes. They eventually caught on and banned him
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Grats!
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Sufferedphoenix posted...
Had a friend who would go to this gambling place. He said certain days they'd give you a free dollar to get started and like you said they'd have you winning early to hook you but he would cash out as soon as he had enough for a pack of smokes. They eventually caught on and banned him
I didn't even know some casinos would do that? Banning you for playing too little and coming out frequently ahead in winnings? That's very greedy and messed up to do. I almost never go to casinos myself, but I'd definitely wouldn't go that casino if I heard someone getting banned over something like that, and the general public shouldn't go either if they were smart.
"Never confuse a single defeat with a final defeat." - F. Scott Fitzgerald
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ShaneMcComez posted...
and the general public shouldn't go either if they were smart.
perhaps the same can be said of all casinos

consider the fact that one of the most clear-cut reasons to be banned from a casino is also one of the only forms of skill expression (card counting) and you can see they're obviously not on your side lol
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ShaneMcComez posted...
I didn't even know some casinos would do that? Banning you for playing too little and coming out frequently ahead in winnings? That's very greedy and messed up to do. I almost never go to casinos myself, but I'd definitely wouldn't go that casino if I heard someone getting banned over something like that, and the general public shouldn't go either if they were smart.

I dont think a place has to have a "reason" to ban someone. It's simple he learned to game them and even though it was only for like 5 bucks a week they didn't like it.

Well it was two of them so like 20 bucks a week. He had a friend who would join him and do the same. They where jobless at the time so that was at least a little free smokes for them during the week. Rest of the week I guess they bummed off who ever they lived with.
I put my heart and soul into my work and I fear I have lost my mind in the process
congrats and happy birthday!!
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kirbymuncher posted...
perhaps the same can be said of all casinos

consider the fact that one of the most clear-cut reasons to be banned from a casino is also one of the only forms of skill expression (card counting) and you can see they're obviously not on your side lol

Oh yeah my friend could count cards to a degree. Wouldn't say he was a master but we had a drinking game that kinda taught you at a beginner level.

Interested game. Not my favorite but it was called fuck the dealer. Dealer held up a card and and the player had to guess the card. If wrong he would say higher or lower. They guessed again. If wrong again they drank. If right the dealer drank. The card would then be placed on the table. Once the dealer got 2 people to drink he handed the deck off to the next person.

So as the game went on it got easier to guess cards and the dealer gets fucked once the deck is low and ends up drinking a lot.
I put my heart and soul into my work and I fear I have lost my mind in the process
Congrats. They always get it back if you keep playing.
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ShaneMcComez posted...
Be careful. Those slot machines are designed to get you winning early to get you hooked on playing. Then before you know it, you'll be on a very long losing streak and already spent up all the money you won. Plus the money you brought with you to gamble with.
That isn't how slots work and casinos aren't risking their gambling licenses to rig them in such a manner. Don't forget there are stringent laws at play with casino games. No the rigging is much more straight forward, long term you lose 5%-20% on every single bet, depending on the machine. You can get lucky and win the battle and walk away ahead for a day, but the war is literally mathematically impossible to win.
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voldothegr8 posted...
That isn't how slots work and casinos aren't risking their gambling licenses to rig them in such a manner. Don't forget there are stringent laws at play with casino games. No the rigging is much more straight forward, long term you lose 5%-20% on every single bet, depending on the machine. You can get lucky and win the battle and walk away ahead for a day, but the war is literally mathematically impossible to win.
Well you could be right. That's what certain family members of mine have told me in the past about their theories regarding slot machines, and they go out gambling once a week, over at the local casino.
"Never confuse a single defeat with a final defeat." - F. Scott Fitzgerald
ShaneMcComez posted...
Well you could be right. That's what certain family members of mine have told me in the past about their theories regarding slot machines, and they go out gambling once a week, over at the local casino.

No, he's entirely right. Your certain family members are utilizing what's called anecdotal evidence, and almost certainly the Gambler's Fallacy
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voldothegr8 posted...
That isn't how slots work and casinos aren't risking their gambling licenses to rig them in such a manner. Don't forget there are stringent laws at play with casino games. No the rigging is much more straight forward, long term you lose 5%-20% on every single bet, depending on the machine. You can get lucky and win the battle and walk away ahead for a day, but the war is literally mathematically impossible to win.

This.

Generally, all regulated legit slot machines have a set hold % that refers to how much, on average, over millions of plays, the machine will keep. Think of it like cents on the dollar. So a machine with a 6% hold will keep 94 cents of every dollar played. There will be wins and losses greater than that but over the life of the machine it will keep that amount.

Almost every regulated casino I know of has some maximum hold percentage allowed in law. For example, in my state, its 15%. In reality the machines are all set higher than that to be competitive. The slot machine monitoring systems know in realtime what each machine is doing and they regularly vary based on floor location. So, the flashy ones by the entrance usually keep more than the older machines that are harder to find.

As has been explained, the theory is that if players are winning a little bit every so often they will keep playing and feel better about losing. But that is not the same as the machines providing wins at first and then getting cold. Thats not a real thing with legit slot machines. (The world of illegal slot machines is the wild west and anything can happen. I have seen 60% hold percentages on illegal machines).

Its pretty wild to think about how much money the casinos make on a few cents from every dollar. There are billions and billions of dollars in handle that go through the machines.

Ad far as being excluded or trespassed - that doesnt happen too much and usually its because the patron did something wrong. The casinos want people there losing money so its generally a high bar before they will exclude someone.
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whitelytning posted...
The slot machine monitoring systems know in realtime what each machine is doing and they regularly vary based on floor location. So, the flashy ones by the entrance usually keep more than the older machines that are harder to find.

As has been explained, the theory is that if players are winning a little bit every so often they will keep playing and feel better about losing. But that is not the same as the machines providing wins at first and then getting cold. Thats not a real thing with legit slot machines.
These two parts sound like they sort of contradict each other? over time as a machine becomes older and less exciting, if it gets moved to the back, it pays more

although I guess that's sort of he opposite
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kirbymuncher posted...
These two parts sound like they sort of contradict each other? over time as a machine becomes older and less exciting, if it gets moved to the back, it pays more

although I guess that's sort of he opposite
Every slot has a RTP (return to player) percentage setting, and the machine has to be opened up by the slot company to set it. In other words the casino themselves can't change it without making that call because of laws and contracts. The average RTP is 94%, but depending on jurisdiction and greed can go as low as 80%. On the Vegas strip it's probably 90% average.
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Current Events » First time ever at a casino and won $500