Explanation of
Casino Payback Percentages
Dear Mark,
Exactly what does it mean when a casino advertises
that its payback percentage is such-n-such percent?
Dorothy
M.
You speak of slot machines, n¹est pas? Each
machine is scrupulously designed and tested to assure
the casino a definite payback. The "payback percentage"
is the portion of the money that is put into the slot
that is eventually paid out to the player.
For example, with a payback of 95%, the casino would
latch onto about 5% of all money put into the slot.
You, Dorothy,should get back 95 cents of every dollar
you insert.
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In most gambling jurisdictions,
the law requires that payback percentages be above
a threshold level, commonly around 75%.
Fortunately, the payback percentage in most casino
machines is much higher than the minimum, even some
advertised as high
as 98%-plus. It¹s those machines advertised for
high paybacks, Dorothy, which you want to play on.
Leave the rest for the
slow learners.
Dear Mark,
Is there any possibility that a video poker machine
can be programmed to never give you a royal flush?
Cam F.
The short answer, Cam,
is: yep, but
Here¹s the long one: technology does exist for
machines to be set to act other than randomly. Such
machines are obviously programmed to avoid giving
the players sweetmeat hands, and instead to give the
house a much bigger advantage. Reassuringly, these
machines are illegal in Nevada, New Jersey, Colorado
and all other states that pattern their gaming regulations
after those states. Calling 911 may not help.
Dear Mark,
In poker, could you please explain the difference
between a Blind bet and an Ante? Candy G.
Just to stimulate that
all-important action before the first cards are dealt,
most poker games, Candy, require an ante or a blind
bet. If antes are used, all players must post a standard
amount of seed money up-front in order to receive
their first cards.
You¹ll find antes used in your traditional Stud
games. Blind wagers, as found in Texas Hold¹em
and Omaha, have the same general purpose but with
slight differences. With blind bets, the first two
players to the left of the dealer post their bets
before they see any cards, and are thus, still "blind."
This required wager rotates around the table. Because
blinds exact forced
wagers, blind bettors, in return, can raise once the
betting has gone around the table the first time and
it¹s their turn to act again.
Dear Mark,
I have noticed recently an increase in poker questions.
That¹s great for me because it is my favorite
game. Any
reason for it? Rick W.
Mark Twain once said,
"There are few things that are so unpardonably
neglected in our country as poker! It is enough to
make one ashamed of one¹s species." That
won¹t happen here, Rick. Besides, questions on
poker are what¹s showing up in the mailbag of
late. It could be influenced by coverage of the World
Series of Poker on ESPN, or the World Poker Tour on
the
Travel Channel. But I¹m guessing it¹s because
there are over 130 million on the planet who, like
you, enjoy the game.
Gambling quote of the
week: "There may be glitter, glitz, and romance
in a casino, but at the end of the day they¹re
just like
any other business: If they cease to make a profit,
they soon cease to exist." -- Gambling For Dummies
(The book)
 Good
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