5 ms·

1% may not sound like a lot, but it's more than the typical casino edge in a game of blackjack or slots. That's an exceedingly optimistic view of casinos. Slot

1% may not sound like a lot, but it's more than the typical casino edge in a game of blackjack or slots. That's an exceedingly optimistic view of casinos. Slot machines have a far higher edge than 1%, generally in the range of 3-15%.

eof 9y ago
Logically correct; as a game of blackjack following basic strategy is less than 1% ;-)
tryingagainbro 9y ago
sure but that pays for salaries, building, drinks...etc. So they're lucky if they end up with 1%
- travisjungroth 9y ago
  The comparison was made to casino games, not actually running a profitable casino.
3pt14159 9y ago
Per pull? Really? I always thought casinos were dumb, but how could they be that dumb?!
- aidenn0 9y ago
  Note that Slots have the biggest swing for the house. A slot machine is basically a money-making skinner box. Blackjack with basic strategy (no card counting, just some 0 memory rules that would fit on a 3x5 card) is a narrow edge for the house, as is craps.
  - joosters 9y ago
    Casinos have plenty enough slot machines to average out any swings in profit/loss. I doubt the variance is that large overall. Some time ago, I remember reading a talk given by a Las Vegas casino operator during a conference on risk. They analyzed their top ten largest losses for the previous year, and found none of them were associated with their gambling results. The events that actually cost them were completely unrelated occurrences, like their resident entertainer getting savaged by a tiger, large fines from the gambling commission because of an incompetent employee, and so on. The gambling side of the business generated remarkably smooth results.
    - deleted 9y ago
      [deleted]
    - thefalcon 9y ago
      I think in this case "biggest swing for the house" should be interpreted as "biggest edge in favor of the house," not anything to do with variance. Everyone knows the house always wins in the long run (that's why "the house" is so much nicer looking [well, bigger, anyway] than your house).
- joosters 9y ago
  Nevada publishes the average edge for slot machines, e.g. http://gaming.nv.gov/modules/showdocument.aspx?documentid=7618 http://gaming.nv.gov/modules/showdocument.aspx?documentid=76... (Look on page six, where it breaks down the 'win percent', or the house edge, by the stake size)

eof 9y ago

Logically correct; as a game of blackjack following basic strategy is less than 1% ;-)

tryingagainbro 9y ago

sure but that pays for salaries, building, drinks...etc. So they're lucky if they end up with 1%

travisjungroth 9y ago
The comparison was made to casino games, not actually running a profitable casino.

3pt14159 9y ago

Per pull? Really? I always thought casinos were dumb, but how could they be that dumb?!

aidenn0 9y ago
Note that Slots have the biggest swing for the house. A slot machine is basically a money-making skinner box. Blackjack with basic strategy (no card counting, just some 0 memory rules that would fit on a 3x5 card) is a narrow edge for the house, as is craps.
- joosters 9y ago
  Casinos have plenty enough slot machines to average out any swings in profit/loss. I doubt the variance is that large overall. Some time ago, I remember reading a talk given by a Las Vegas casino operator during a conference on risk. They analyzed their top ten largest losses for the previous year, and found none of them were associated with their gambling results. The events that actually cost them were completely unrelated occurrences, like their resident entertainer getting savaged by a tiger, large fines from the gambling commission because of an incompetent employee, and so on. The gambling side of the business generated remarkably smooth results.
  - deleted 9y ago
    [deleted]
  - thefalcon 9y ago
    I think in this case "biggest swing for the house" should be interpreted as "biggest edge in favor of the house," not anything to do with variance. Everyone knows the house always wins in the long run (that's why "the house" is so much nicer looking [well, bigger, anyway] than your house).
joosters 9y ago
Nevada publishes the average edge for slot machines, e.g. http://gaming.nv.gov/modules/showdocument.aspx?documentid=7618 http://gaming.nv.gov/modules/showdocument.aspx?documentid=76... (Look on page six, where it breaks down the 'win percent', or the house edge, by the stake size)