4 ms·

There's absolutely no reason for a casino to cheat - they don't need to, they already have the house edge.

by TylerE 3y ago

resolutebat 3y ago
The entire reason Nevada regulations exist and are strictly enforced is that the casinos did, in fact, cheat.
- Eji1700 3y ago
  Ehh...kinda? For the most part, it's because they were cheating the government and skimming funds for illegal businesses and laundering money and not paying taxes on it, not cheating the players (sorta kinda....again summarizing a lot.)
Terr_ 3y ago
That's like: "There's absolutely no reason for the executive to embezzle - they don't need to, they already have the cushy job." Cheating means greater profit, and (unless caught) more-reliable profit.
- TylerE 3y ago
  Except they're competing. If players think they win more at Casino B than Casino A, Casino A makes less, not more.
  - mark_up 3y ago
    [dead]
  - gpxyz 3y ago
    Unless the same company[0] owns both Casino A and Casino B [0] https://en.wikipedia.org/wiki/Vici_Properties https://en.wikipedia.org/wiki/Vici_Properties
  - solatic 3y ago
    People don't first decide which casino to go to, they decide to first go to Vegas and then decide which casino to go to. If Vegas's reputation is ruined, overall traffic to casinos in general would decline. If Vegas were to allow casino cheating (i.e. by refusing to regulate), if Casino A is revealed to have been cheating, then a player who plays and loses at (actually) honest casino B might have doubt (unreasonable as it may be) that their losses are legitimate. They may decide to make a fuss, complain, broadcast to their social networks that their losses were due to casino cheating. Even if casino B was actually honest, casino B now needs to constantly defends its reputation for fair play. At best, this represents an ongoing cost; at worst, casino B will lose all its traffic due to rumors that spin out of control. An honest reputation is indefensible in such an environment. The most profitable arrangement for all casinos involved is to prioritize long-term profits and cooperate with strong policing, such that Vegas as a whole (and thereby their casino individually as well) is publically perceived as offering fair odds.
  - jstanley 3y ago
    And yet people still go to casinos instead of standing alone in the street, so it can't be as simple as that.
  - Terr_ 3y ago
    If a person was somehow collecting all that mass statistical data in advance and acting upon the mathematical expected return... they wouldn't be a gambler in any casino in the first place.
bernawil 3y ago
A "casino" doesn't have a reason, in fact it has no reason at all. The people running it do, and someone with enough power could rig the games and steal from both the customers and the casino, hurting both.
somerandomqaguy 3y ago
Don't they? Let's say I rig the slot machines so that they can win on command, and then I hire a couple of actors to come in once every two or three days to 'win' a jackpot. The odds of anyone else actually hitting a win is actually 0 - nada, nothing, zilch. But I can't leave it at zero, if people don't think they have at least a chance, they're not going to throw money at it. With cheating, I have all the benefits of convincing people into thinking they can win, without actually loosing any money in reality. Probably a multitude of other sneaky things you can do with an unregulated casino if someone were to put their mind to it.
mschuster91 3y ago
Tell that to Donald Trump who managed the almost impossible feat to run a casino into the ground, and that not just once, but multiple times [1]. [1] https://en.wikipedia.org/wiki/Trump_Entertainment_Resorts https://en.wikipedia.org/wiki/Trump_Entertainment_Resorts

There's absolutely no reason for a casino to cheat - they don't need to, they already have the house edge.

by TylerE 3y ago

There's absolutely no reason for a casino to cheat - they don't need to, they already have the house edge.

resolutebat 3y ago

The entire reason Nevada regulations exist and are strictly enforced is that the casinos did, in fact, cheat.

Eji1700 3y ago
Ehh...kinda? For the most part, it's because they were cheating the government and skimming funds for illegal businesses and laundering money and not paying taxes on it, not cheating the players (sorta kinda....again summarizing a lot.)

Terr_ 3y ago

That's like: "There's absolutely no reason for the executive to embezzle - they don't need to, they already have the cushy job." Cheating means greater profit, and (unless caught) more-reliable profit.

TylerE 3y ago
Except they're competing. If players think they win more at Casino B than Casino A, Casino A makes less, not more.
- mark_up 3y ago
  [dead]
- gpxyz 3y ago
  Unless the same company[0] owns both Casino A and Casino B [0] https://en.wikipedia.org/wiki/Vici_Properties https://en.wikipedia.org/wiki/Vici_Properties
- solatic 3y ago
  People don't first decide which casino to go to, they decide to first go to Vegas and then decide which casino to go to. If Vegas's reputation is ruined, overall traffic to casinos in general would decline. If Vegas were to allow casino cheating (i.e. by refusing to regulate), if Casino A is revealed to have been cheating, then a player who plays and loses at (actually) honest casino B might have doubt (unreasonable as it may be) that their losses are legitimate. They may decide to make a fuss, complain, broadcast to their social networks that their losses were due to casino cheating. Even if casino B was actually honest, casino B now needs to constantly defends its reputation for fair play. At best, this represents an ongoing cost; at worst, casino B will lose all its traffic due to rumors that spin out of control. An honest reputation is indefensible in such an environment. The most profitable arrangement for all casinos involved is to prioritize long-term profits and cooperate with strong policing, such that Vegas as a whole (and thereby their casino individually as well) is publically perceived as offering fair odds.
- jstanley 3y ago
  And yet people still go to casinos instead of standing alone in the street, so it can't be as simple as that.
- Terr_ 3y ago
  If a person was somehow collecting all that mass statistical data in advance and acting upon the mathematical expected return... they wouldn't be a gambler in any casino in the first place.

bernawil 3y ago

A "casino" doesn't have a reason, in fact it has no reason at all. The people running it do, and someone with enough power could rig the games and steal from both the customers and the casino, hurting both.

somerandomqaguy 3y ago

Don't they? Let's say I rig the slot machines so that they can win on command, and then I hire a couple of actors to come in once every two or three days to 'win' a jackpot. The odds of anyone else actually hitting a win is actually 0 - nada, nothing, zilch. But I can't leave it at zero, if people don't think they have at least a chance, they're not going to throw money at it. With cheating, I have all the benefits of convincing people into thinking they can win, without actually loosing any money in reality. Probably a multitude of other sneaky things you can do with an unregulated casino if someone were to put their mind to it.

mschuster91 3y ago

Tell that to Donald Trump who managed the almost impossible feat to run a casino into the ground, and that not just once, but multiple times [1]. [1] https://en.wikipedia.org/wiki/Trump_Entertainment_Resorts https://en.wikipedia.org/wiki/Trump_Entertainment_Resorts