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How can casinos stay open when they lose so much money?

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Submitted ⁨⁨1⁩ ⁨year⁩ ago⁩ by ⁨STRIKINGdebate2@lemmy.world⁩ to ⁨[deleted]⁩

https://lemmy.world/pictrs/image/6735653d-3218-4857-8a0f-a728204b8fe2.jpeg

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Comments

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  • FlyingSquid@lemmy.world ⁨1⁩ ⁨year⁩ ago

    The real question is: How did Trump run a casino that went bankrupt?

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    • EatYouWell@lemmy.world ⁨1⁩ ⁨year⁩ ago

      Because it was used to launder money. And, bankrupting a business is actually a way to avoid taxes, especially when you regularly lie on your tax filings.

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      • superduperenigma@lemmy.world ⁨1⁩ ⁨year⁩ ago

        Also he’s a terrible businessman and was using it as a personal piggybank, as he is wont to do with any business he runs.

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    • BackOnMyBS@lemmy.world ⁨1⁩ ⁨year⁩ ago

      Because he opened a second casino on the same strip, effectively competing for limited customers with his first casino, ensuring that both casinos failed. I’m serious. He really did that lol

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  • turkalino@lemmy.yachts ⁨1⁩ ⁨year⁩ ago

    For those missing the joke: slot jackpots usually have odds of winning of like 1:1000, so every thousandth person should win…

    … if you don’t understand probability. Games on a slot machine are mutually exclusive, so those odds apply to one independent game, not all games played as a whole

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    • lemmyman@lemmy.world ⁨1⁩ ⁨year⁩ ago

      That makes it so obvious, thanks

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  • SoupBrick@yiffit.net ⁨1⁩ ⁨year⁩ ago

    Here’s a secret casinos don’t want you to know!

    They can just say, “Nuh-uh, you didn’t win.” Then they don’t have to pay you.

    www.bbc.com/news/world-us-canada-40300062

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    • urist@lemmy.blahaj.zone ⁨1⁩ ⁨year⁩ ago

      4294967295 is the limit for an unsigned 32bit integer.

      Her cash ticket said $42,949,672.76.

      This is clearly a machine error. I’ll explain:

      1. It is clearly an error - integer overflow.
      2. Wins over $1,200 are taxable in the US, meaning a $43 million win would be handled by an employee
      3. Image is a screen shot displaying “Printing cash ticket”, meaning she’s cashing out her remaining balance. Machines can only hold so much cash as credit on them, $2000-$3000. Diagnostic software would give the casino employees the actual balance of the machine (Article lists $2.25, and dinner for her trouble).

      She didn’t “win”, the machine glitched out. All machines have a “maximum payout”, and I’d bet (and win) $43 million far exceeds what the maximum payout is on any machine at this casino.

      Casinos are required by law to pay you your winnings, not for integer overflows. Gambling is stupid, don’t bother.

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      • lemmyman@lemmy.world ⁨1⁩ ⁨year⁩ ago

        I can agree with all of that and still think it looks like the casino saying “uh, no we don’t want to pay you.” I think something is missing.

        Maybe the key point is that the value displayed on the screen is, say, “derived” and not the “ground truth.” If you get cherry-coin-grape and that’s worth $2 but the display says $42 million, it better be well-established that cherry-coin-grape is the deciding output and not the display.

        What if you get triple-treasure-chests and the casino says nah that’s a display bug, it was really cherry-coin-grape internally. Where’s the line here? Im sure it is legally established but of course shitty news articles aren’t going to go to that level of detail when they can quote the plaintiffs attorney instead

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      • AI_toothbrush@lemmy.zip ⁨1⁩ ⁨year⁩ ago

        Yeah but the chance of a glitch is basically a jackpot already

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      • ExLisper@linux.community ⁨1⁩ ⁨year⁩ ago

        Yep, it doesn’t look like a jackpot win. Jackpots are separate events that would have distinct screen. I don’t believe she took a selfie with generic screen and not the jackpot screen so probably there was no jackpot screen.

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      • mr_satan@monyet.cc ⁨1⁩ ⁨year⁩ ago

        The only issue I see is the integer one. I highly doubt that the machine uses integers for handling data. It’s a common practice to use decimals for anything money related. Other than that, there’s no way in hell a casino is paying that amount of money and there must be safe guards that limit how often and how much can be won on a slot machine.

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  • mosiacmango@lemm.ee ⁨1⁩ ⁨year⁩ ago

    Casinos slot payouts are generally regulated by the state, but the ratio always favors the casinos.

    The games are specifically and legally rigged so that casinos, over the long term, keep more money than they lose by design.

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    • Kecessa@sh.itjust.works ⁨1⁩ ⁨year⁩ ago

      Yep, 92% of what is played is returned to players in Quebec for example, it’s regulated by law and confirmed by independent firms. It’s a bit lower in Ontario if I recall correctly. Illegal casinos in first Nation communities don’t need to follow such regulations and some of them will play with the % along the day, even sometimes giving more than what is played to get people to spend more and then lowering the % so people continue to play more while expecting to win…

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  • SpaceNoodle@lemmy.world ⁨1⁩ ⁨year⁩ ago

    How many thousandths of a person does it take to operate a slot machine?

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