Casinos

[308 man]

Does any one know if casinos in alberta have a rate at which they must pay out for winnings, does a slot get to keep all the money or have a rate at which they allow to be paid to some wins. With computer controlled games could be programed to never pay or allow a few winners.

[fish_e_o]

http://www.aglc.gov.ab.ca/gaming/faq.asp#VLTpayoutrate

In Alberta, what is the average payout rate for vlts and/or slot machines?
Video lottery terminals (vlts) and slot machines in Alberta are programmed to pay out a cumulative average of 92 per cent of all money wagered over all the machines in the vlt/slot network. The payout rate of 92 per cent is averaged over millions and millions of plays, not one playing session. The laws of probability will allow players to win or lose, and leave others to walk away even. The programmed machine payout rates vary based on line counts, denomination, maximum bet and other factors. For example, some machines may be programmed at 92.09% or 91.89%. These percentages vary based on line counts and denominations. In other words, not all vlts/slot machines will have an exact 92% payout.

For example:
If you wager $100, your average winnings may be $92 ($100 x 92% = $92);
If you replay that $92, your average winnings may be $85 ($100 x 92% x 92% = $85);
If you replay the $85, your average winnings may be $78 ($100 x 92% x 92% x 92% = $78); and
If you replay your credits four times before cashing out, you may receive $72 ($100 x 92% x 92% x 92% x 92% = $72)
In the example above, the total wager (cash/credits played) is $355 ($100 + $92 + $85 + $78). The total win (cash/credits won) is $327 ($92 + $85 + $78 + $72). The player’s payout rate is 92%.

Ultimately what a player walks away with in winnings depends on their play behaviour. Only a player will determine what their win/loss limit is.

There are several different terms, with different meanings, used to look at transactions involving vlt/slot machines.

The cash/credits won divided into the cash/credits played reflects the payout rate and over millions of spins (the life of the machine) nets out at the theoretical payout. The machine is programmed to the theoretical payout described above.

The cash-in vs. cash-out is simply a difference between each dollar put into a terminal and each dollar taken out. In the example above, the player wagered $100 (cash-in) into a terminal and won $72 (cash-out). The player’s cash-out rate is 72%; however, it does not take into account the number of plays and the actual total wager.

The AGLC ensures all games are fair and gaming activities are conducted honestly, openly and with integrity. Electronic gaming machines, including vlts and slot machines, are tested and approved by an independent gaming laboratory, and must meet stringent technical and operating standards, including the payout percentage, before ever reaching gaming floors.

It’s important to note that electronic gaming terminal games are developed based on randomness, which means that the outcome is not predictable. When you gamble the odds always favour the house. The AGLC encourages all players to get to know the games they play and set limits on the amount they are prepared to bet - and potentially lose. For information on responsible gambling, please visit setalimitalberta.ca.

[Dewey Cox]

The house never loses.
If you're worried about the percentage that a particular machine pays out, you may have a gambling problem.

[Opa]

A friend of my son programs the devices. They are all linked together, and what you may put into a particular machine where you live, may be paid out in High Level or Milk River to meet the regs.!!! The government is the only winner.

[realitysucks]

Originally Posted by Opa

A friend of my son programs the devices. They are all linked together, and what you may put into a particular machine where you live, may be paid out in High Level or Milk River to meet the regs.!!! The government is the only winner.

you can also include the reservation where a lot of casino's are located and agree with Dewey, you may have a gambling problem

[saddleup]

Originally Posted by Opa

A friend of my son programs the devices. They are all linked together, and what you may put into a particular machine where you live, may be paid out in High Level or Milk River to meet the regs.!!! The government is the only winner.

If the Govt. is the only winner....... that makes the users loooooosers???

[Opa]

What was the first clue!!!

[bat119]

I find with compulsive gamblers its more of a math problem, they lose $100 6 nights a week then on the 7th day they win $500 and think they are up

[Bushrat]

Originally Posted by bat119

I find with compulsive gamblers its more of a math problem, they lose $500 6 nights a week then on the 7th day they win $50 and think they are up

Fixed it for you.

[marxman]

Gambling problem for sure. Nobody should care what ratio a gambling machine pays out

[CaberTosser]

I used to have a casino on Blackfoot Trail as a regular client with a previous employer and I always thought it rather sad, pathetic even, that there were people waiting outside for 20 minutes plus prior to their opening to the public for the day. This was back when they could still smoke in the places, and I'd smell like a frigging ashtray for the duration of the day (and my work was usually before they were even let in, it was mostly a latent smoke residue stinking me up!!). What a monkey to have on ones back.....

My wife used to work for the lottery managing communications, she would encounter problem gamblers when they had to investigate people who seemed to win too frequently, it often turned out that they simply bought an absurd amount of tickets compared to normal people. One fellow won two jackpots! (and he has probably spent the windfall right back into the system by now.......)

[308 man]

Went to the casino first time did not know that you can win money to take home will go again in the next 10 years or so is that a problem gambler.