8a. Re: A Novice Question From A Paranoid Mind
Date: Sat Jan 10, 2009 2:30 am ((PST))
...
However, the real answer, is the same for all similar queries
regarding casinos rigging their machines: It is unlikely for a major
established casino to rig their machines because they are profitable
to begin with. The cost of losing a gaming license combined with
devastating publicity when the scandal is made public is far greater
than the additional revenue they might realize by operating their
machine outside of gaming regulations.
It is far simpler (and legal!) to simply adjust paytables (esp. on
slots where no one knows what they are anyway) to lower return
percentages.
While I have always supported the concept that it would be foolish for a casino to gaffe a machine and risk its license, I have also always supported the concept that it would be foolish for an investment manager to administer a Ponzi scheme ala Madoff, where it is INEVITABLE that eventually it will catch up with him, and thus he risks his license, and risks criminal prosecution, jail time, etc.
I am recently reminded that sometimes people do foolish things in the name of greed, without appropriate thought to the long-term consequences. Other motives than greed are sometimes present as well.
I keep playing - but I don't think we have ANY reason to think that EVERY game that is offered in a licensed casino is "fair".
The chances of it happening may be even smaller than the chances of someone having a statistically poor year or more "by chance alone" - but I don't think the chance is zero, and slot frauds have previously been documented and prosecuted.
--BG
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