/sci/ - Science & Math » Thread #13137438

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Anonymous Sat 15 May 23:17:01 2021 No.13137438 View Reply Original Report

Quoted By: >>13137451 >>13137500 >>13138422 >>13138600 >>13138956

10,000 people walk into a casino and play craps.
They all make 1 bet on Pass.
A pass bet has a 49.3% odds of winning for the player.

How is it possible for casinos to lose money?

Anonymous

Anonymous Sat 15 May 2021 23:19:40 No.13137451 Report

Quoted By: >>13137494

>>13137438
It isn't? This is the only reason why casinos want you to come play craps in the first place.

Anonymous

Anonymous Sat 15 May 2021 23:19:44 No.13137452 Report

Quoted By:

They get unlucky

Anonymous

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Anonymous Sat 15 May 2021 23:25:38 No.13137494 Report

Quoted By: >>13137572 >>13137604

>>13137451
>It isn't?
Caesars owns half of vegas and they filed bankruptcy protection multiple times and had to sell everything recently.

Anonymous

Anonymous Sat 15 May 2021 23:26:11 No.13137500 Report

Quoted By:

>>13137438
>How is it possible for casinos to lose money
arson, high taxes, lawsuits

Anonymous

Anonymous Sat 15 May 2021 23:31:38 No.13137540 Report

Quoted By: >>13137692

Craps is an almost breakeven game to help persuade you in the door in a good casino like almost all table games. Slot junkies are always the money makers. This is why when you're in small some shithole truck stop casino or one attached to a food mart out west without the space it's 95+% slot machines and 0% craps tables

Anonymous

Anonymous Sat 15 May 2021 23:39:30 No.13137572 Report

Quoted By: >>13137627

>>13137494
casinos don't lose money on the gambling part. are you braindead?

Anonymous

Anonymous Sat 15 May 2021 23:47:21 No.13137604 Report

Quoted By: >>13137627

>>13137494
casinos have to build all that extravagant shit with a 0.7% profit margin.

Anonymous

Anonymous Sat 15 May 2021 23:51:13 No.13137627 Report

Quoted By: >>13138309

>>13137572
Ask me how I know you failed reading comprehension.

>>13137604
The correct answer.

Anonymous

Anonymous Sun 16 May 2021 00:06:40 No.13137692 Report

Quoted By: >>13138403

>>13137540
You got it wrong. Most casino games have an expected return of 90 something %. I don't remember how much for craps, but roulettes are always above 95%. In fact, you can usually promote roulettes above 100%, because gamblers ruin will secure the casino. Casinos are safe not because of the edges, but because they have a very, very fat pocket to amortize bad streaks. You can profit out of junkies even with a 105% roulette.

Anonymous

Anonymous Sun 16 May 2021 02:06:41 No.13138309 Report

Quoted By: >>13138381

>>13137627
How did he fail reading comprehension, exactly?

Anonymous

Anonymous Sun 16 May 2021 02:29:12 No.13138381 Report

Quoted By: >>13138394 >>13138442

>>13138309
The question:
>How is it possible for casinos to lose money?

His answer:
>casinos don't lose money on the gambling part. are you braindead?

>How do you lift a car?
>Not with your hands you dumbass!

Anonymous

Anonymous Sun 16 May 2021 02:33:38 No.13138394 Report

Quoted By:

>>13138381
I was responding to the post that said Caesars filed bankruptcy multiple times. This is not because of gambling losses, as it was implied by the person responding with the image of Caesars as they were responding to someone who said it isn't possible for casinos to lose money on craps. I think you need to practice reading comprehension instead.

Anonymous

Anonymous Sun 16 May 2021 02:36:45 No.13138403 Report

Quoted By: >>13138426 >>13138455

>>13137692
Do 100% and 105% roulette wheels actually exist or are you only commenting on a theoretical to make a point about the difference in being able to absorb short term losses to win long term? I'd be interesting to know if those high payout wheels actually do exist somewhere. I assume 100% would simply be leaving out 0 (and 00 if it exists) but 105%, would that have to be managed through changing payouts instead of changing the wheel?

Anonymous

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Anonymous Sun 16 May 2021 02:43:46 No.13138422 Report

Quoted By:

>>13137438
>Do Sisyphean mathematics, ???!

Anonymous

Anonymous Sun 16 May 2021 02:44:47 No.13138426 Report

Quoted By:

>>13138403
no, they don't exist, because they don't need to. the casino can use 95% wheels because they'll make even more money and nobody will care that it's not 100%

Anonymous

Anonymous Sun 16 May 2021 02:49:02 No.13138442 Report

Quoted By: >>13138453

>>13138381
So it seems that you are in fact the one who failed at reading comprehension. How ironic.

Anonymous

Anonymous Sun 16 May 2021 02:50:51 No.13138453 Report

Quoted By:

>>13138442
True. It seems I had ad unning kruger moment.

Anonymous

Anonymous Sun 16 May 2021 02:51:29 No.13138455 Report

Quoted By:

>>13138403
Online casinos do silently skew the odds in favor of the player to promote a game, or to "heat" things up, so people don't feel unlucky and give up on gaming. They don't keep it permanently, and do not tell anyone when they are doing it.

Anonymous

Anonymous Sun 16 May 2021 03:31:41 No.13138600 Report

Quoted By:

>>13137438
They make money from the people who come to gamble
They lose money paying employees, paying rent, paying insurance, taxes, ect.

Anonymous

Anonymous Sun 16 May 2021 05:36:36 No.13138956 Report

Quoted By: >>13138978

>>13137438
Once you have a point you can put odds behind your pass line bet. That bet has absolutely zero house edge (4/10 pays 2:1, 5/9 pays 3:2, 6/8 pays 5:6). Our casino allowed 5x odds on pass line bets. A $5 pass line bet with $25 odds is 0.3% house edge.

Casinos can and do lose their shit on craps. One good roll and a table full of power pressers and the casino loses thousands. It's all temporary since the table always makes money in the long run, but just playing the pass line with odds is the best bet in the casino and is pretty damn close to no house edge.

T. Craps dealer

Anonymous

Anonymous Sun 16 May 2021 05:43:15 No.13138978 Report

Quoted By:

>>13138956
Cool to know.
Thanks dealer.

Do you get pissed when people gamble your tip?

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