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The idea of suddenly striking it rich has crossed just about everyone's mind at some point. While lottery sales soar and more lotteries become legal in new states, casinos continue to be cash generating machines. Few areas of entertainment are as fascinating as casinos and Steve Wynn's $2.7 billion (yes billion!) hotel-casino in Las Vegas is evidence that there is no slowing down. In fact, Las Vegas is the fastest growing city in the United States. So as tourists continue to flock to sin city, the question that should be asked is: can you beat the casino?
The answer is, well, no and yes. This is part 1 (of 2) on beating the casinos.You Cannot Beat the Casino
Casinos offer a variety of games which admittedly can be fun. These games are there for different levels of skill, interest, and experience, and they have different maximum payouts depending on the game. Regardless of your choice, there is one major commonality between all casino games: If you play by the house's rules, you cannot win. Casinos are in the business of making money and a lot of it at that.
beating online casino The reason that governments are increasingly changing their laws to accommodate
casinos is that it's just so easy for them to take your money when you don't think of it as a form of taxation. In fact, government-run casinos are essentially tax-dollar-generating entities. You have fun while giving your money away but the bottom line is that you are giving it away!
How Slot Machines Take ALL of Your MoneyEvery single game in the casino is very carefully designed for you to lose money and for the gaming house to win. Slot machines are among the most common and recognizable games in a casino. Here's an example of how a slot machine takes your money.
beating online casino Suppose you walk into a casino with $1 to spend and sit in front of a slot machine that offers a 97% payout. You would know their rate of payout is 97 cents on the dollar because some casinos tell you. That's right, they actually state how much you are going to lose and people STILL play!
So you put that precious $1 in the machine's slot and pull the level (or press the button, depending on how lazy you are). You will get 97 cents back, having lost 3 cents on the spin. You then take your 97 cents and put it back into the slot.
beating online casino You will get 94.1 cents back (97 cents x 97% payout = 94.1 cents). Since you haven't smartened up, you put your 94.1 cents in and get 91.3 cents back and so on, until all of your moolah is gone.
beating online casino Now suppose you actually won 50 cents on the next pull of the ol' one armed bandit. You'd have 141.3 cents or $1.41. The psychological impact is that you think you're becoming a winner! A few more of these and a new mansion in Beverly Hills can't be far behind, you're thinking. However, as soon as you put that dollar and forty one cents back into the machine, the 97% payback takes control and your winnings decrease.
beating online casino
The more you play, the great the 97% payout will affect you. Eventually, regardless of the ups and downs, the slot machine will take all of your money (unless you stop playing, of course). So if you walk into a casino with $1, spend it on a slot machine and win $100 on the first try, quit while you are ahead because the games are sure to suck it back up! Never gamble what you can't afford to lose so if it's worth the entertainment value of gambling away that $100, then go for it!
The truth is that if you ask a problem gambler what a good day is, he/she will tell you it's those days that you walk in with $50 and it allows you to play all day, versus losing it all in one shot soon after entering the casino. The bottom line here is that even gambling addicts know that the loss of cash is inevitable.
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