Betting Machine or an online casino

[nightmare18]

If you walk into a betting shop or a online casino and you will see them machines which you can play roulette on and say they payout 97.9%.

Do they work like either of these,

1. The machine takes 100 bets and by law of averages the punter should lose 2.1% of what he is betting.

OR

2. Day 1
The machine takes 100 bets and the punter doubles up from £100 to £200
Day 2
Because the machine as lost £100 will it stop the next punter betting on this machine from winning to get its money back to a certain amount till it lets the punter win again.
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Winner of Thursdays Night OLBG Poker Night. Beating current holder Aye in the heads up. Also knocking out jwoody on the final table.

[aye66]

the term "payout" is related to the odds that the shop/online casino gives. There is a mathematical equation to calculate payout but i think i can explain its principle better in a few words. Note that you can always calculate the "payout" for any gambling game.

If a bookmaker accepts £100 in bets and it claims a payout of 97% for that certain gambling game, that means that only £97 will be paid out to all winners in the long run (this is caveat is important) while it keeps the £3 as profit.
Let's look at the simpliest example of a jackpot machine that claims a payout of 97%. It's £1 a go, and you keep putting your money in.. Let's keep it simple and say that you can only win if you get Bar/Bar/Bar. There's this big sign that states the current amount of the jackpot and it keeps increasing all the time, but it increases only at a rate of 97 pence. So when someone finally hits the jackpot i.e. bar/bar/bar, the payout is 97%. In reality it's more difficult to calculate the payout of a gambling game as you have to use stats and calculate the frequency of bets/selections etc. and these machines therefore always state a "minimum payout of #%". but the above example is 100% accurate in explaining the principles (when there is no minimum or maximum).

hope this clears your doubt.

aye66

[The Shark]

Yes -

Typically the fruit machines you see in your local pub will say on them that they pay out say 72%.

Which means that on average for every pound you put in you could expect to recive a return of 72p. Terrible.

So if you play a fruit machine non stop for hours and hours you can expect to get back 72% on average of what you invest as thats what the machine is programmed to pay out.

Unless you have a way of interferring with the programming (illegal) but apparently people have found ways - magnets (allegedly but no idea how), turning the machine off and on (dont beleive this works and wouldnt try it if the landlord is bigger than you) refusing to accept payouts - ie. nudging so you dont win, never accepting any win apart from Jackpot not convinced this worked but I have a "system" at home which was doing the rounds a few years back which claimed this worked.

Apart from this, armed with this knowledge that the machine is programmed to pay a certian percentage, it is possible to make money through betting on fruit machines.

Allthough the odds are so greatly stacked against you - if you stand around watching and calculating the odds and invest when they are in your favour (very rare but it does happen) - you've got a chance of making enough to buy yourself a pint.

Well it used to work when I was seventeen.

Also - make sure the last guy who played the machine is smaller than you and didnt notice you watching.