@georgedanielleonard Based on my admittedly quick and dirty research, baccarat has the highest payout at 99.08%
Just got a message from a friend that he lost all of his money with one of those online casinos.
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georgedanielleonard
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franklin111
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@natchomamma Again I am remined of the simple idea that all those big casino buildings on the strip in Vegas were built, not using winner's money, but by using the losing
Money of millions of, well -
Suckers who bet often and lose it all!
Money of millions of, well -
Suckers who bet often and lose it all!
alwayswaschristian
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@natchomamma Exactly. People need to realize gambling at a casino is just a very expensive way to entertain oneself for a few hours, nothing more.
Anyone actually going in expecting to come out with fat pockets is a fool. Can people walk away with thousands of dollars? Sure. But the odds are not designed to be stacked that way. The average gambler is a loser, not a winner.
Anyone actually going in expecting to come out with fat pockets is a fool. Can people walk away with thousands of dollars? Sure. But the odds are not designed to be stacked that way. The average gambler is a loser, not a winner.
@alwayswaschristian I know a former co-worker who had never gambled before, we were at the Hard Rock in Florida and she wanders over to some kind of 100 hand video poker machine. Basically each hand is actually 100 hands. She hit a straight flush on the first hand which was then times 100. I think she won 18k. She never gambled again, the only truly successful gambler I've ever known.
doppelgank
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allpraisebetogod
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@shostar12 I'm a big gambler, I couldn't imagine using an online casino for anything other than sports and poker. Even then everyone knows the promotional bonuses are always rigged
resjudicata
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@shostar12 They are no more of a scam than physical casino's. The odds are published for all to see.
The only way to get a fair go is player vs player such as poker
The only way to get a fair go is player vs player such as poker
genuinedad1968
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@resjudicata I am going to disagree with you.
The physical casinos make you an offer where you will probably lose money, but you might win. The odds are published. The reason people take these bets is that losing $1 (or $10 or $100, depending on the person) doesn't hurt much, but winning $20 (or $200 or $2,000) would feel really good so people take the chance even though they know they have 3% - 10% chance of coming out ahead. At least in the US, there are occasional inspections to make sure the games aren't rigged.
The online casinos bury the $100k playthrough in the fine print and the algorithm knows your entire history. It sounds like there is no chance at all of coming out ahead in the end, even though people think they have some chance. Depending on the where the casino is located, I don't think it would be physically possible for anyone to inspect the 'games' to see if they are rigged or not.
tl:dr Physical casinos are a bad idea, but fail to meet the definition of a scam because they lack the element of deceit.
The physical casinos make you an offer where you will probably lose money, but you might win. The odds are published. The reason people take these bets is that losing $1 (or $10 or $100, depending on the person) doesn't hurt much, but winning $20 (or $200 or $2,000) would feel really good so people take the chance even though they know they have 3% - 10% chance of coming out ahead. At least in the US, there are occasional inspections to make sure the games aren't rigged.
The online casinos bury the $100k playthrough in the fine print and the algorithm knows your entire history. It sounds like there is no chance at all of coming out ahead in the end, even though people think they have some chance. Depending on the where the casino is located, I don't think it would be physically possible for anyone to inspect the 'games' to see if they are rigged or not.
tl:dr Physical casinos are a bad idea, but fail to meet the definition of a scam because they lack the element of deceit.
resjudicata
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@genuinedad1968 You don't understand gambling regulations as they pertain to online casinos.
Each and every game or spin has the same odds of winning or losing and this is inspected by gambling commissions. Online casinos have more regulations than physical locations because each jurisdiction they operate in will inspect the algorithms that determines the win/lose ratio.
Im no expert but I am well read in this area and make a steady income via gambling.
I would not recommend gambling as an income stream due to the long hours of research and gringing required. I happen to have a lot of down time in my main job which affords me the opportunity to grind out a moderate profit with online gambling, plus I enjoy it
Each and every game or spin has the same odds of winning or losing and this is inspected by gambling commissions. Online casinos have more regulations than physical locations because each jurisdiction they operate in will inspect the algorithms that determines the win/lose ratio.
Im no expert but I am well read in this area and make a steady income via gambling.
I would not recommend gambling as an income stream due to the long hours of research and gringing required. I happen to have a lot of down time in my main job which affords me the opportunity to grind out a moderate profit with online gambling, plus I enjoy it
genuinedad1968
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@resjudicata You have a fair point. I do not understand gambling regulations as they pertain to online casinos.
I do have a fair understanding of how effectively government regulations are enforced. I am also familiar with the principle that when everyone is responsible, no one is.
My issue is not about understanding. It is about trust. I don't trust the websites to be following the rules. But, you are correct, I have no idea what the they are supposed to follow rules are.
I do have a fair understanding of how effectively government regulations are enforced. I am also familiar with the principle that when everyone is responsible, no one is.
My issue is not about understanding. It is about trust. I don't trust the websites to be following the rules. But, you are correct, I have no idea what the they are supposed to follow rules are.
resjudicata
New member
@genuinedad1968 I get what you're saying in principle but one of the few things the EU does well is enforce regulations on private business. Any gambling business that operates in Europe is stringently inspected by the EU and then again by several member states. There really is no way to operate other than transparently
Im not saying for a second that they are fair but they are transparent and all the risk/reward equations are available for anyone to see.
Many European nations are on the edge of outright banning gambling and as such regulation are tight
Im not saying for a second that they are fair but they are transparent and all the risk/reward equations are available for anyone to see.
Many European nations are on the edge of outright banning gambling and as such regulation are tight
johnny7oak
New member
@resjudicata The “scam” aspect is the play through. You may have published odds, but realistically if you actually “play through” the required amount using realistic betting amounts your cumulative odds are going to be terrible — in essence you’re forced into a long run “strategy” against the casino which has a much lower chance of you coming out ahead.
resjudicata
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@johnny7oak But those odds are published.
Real casinos also offer free bets that require playthrough
Real casinos also offer free bets that require playthrough
resjudicata
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@shostar12 Some online casinos are not a scam. I received one significant payout using a provably fair bitcoin casino.
@shostar12 Some bitcoin casinos are not, you choose a 2x payout and have a 49% chance of winning it, 1% advantage to the house, and all bets and payouts are public record
@helco The bonus money is not withdrawable until the play through is achieved, what OP is describing doesn’t make a ton of sense on the values but that’s a standard thing. Even if you have bonus slot play at a brick and mortar casino you cannot immediately cash it out for cash, you have to play it.