This is tricky, since some of these terms seem to have multiple
meanings, even to the same person. The easiest term is the paytable.
Assuming a good, fair RNG, the pay table uniquely identifies the
long-term payout of a machine, assuming perfect play.
"Loose" is more subjective. I think marketing departments define
loose based on the long-term payouts, which are the programmed
percentages, and are generally applied to slots. Claims such as "our
slots are 22% looser than the competition" indicate a higher
programmed payback than the industry average. However, if a player
claims to have played a loose machine, it almost always means he won
on it during the last session (unless he has some inside information
as to the programmed payout of the machine).
When applied to VP, it could mean the relative EV of a machine
assuming perfect play, or it could mean how the machine behaved the
last time it was played.
Similarly, pay out percentage probably means the long-term or
programmed payouts, although someone could be referring to how well
the machine behaved on their last outing.
Because of this, it is probably best to avoid terms such as loose or
pay out percentage (and I guess I should listen to my own advice) and
stick with better-defined terms (expected return or expected value,
although the use of "expected" is also problematic).
How is that for a long-winded nothing (non)answer?
- John
···
--- In vpFREE@yahoogroups.com, "Adams Myth" <Adams_Myth@...> wrote:
> I think you need to define what you mean by "looser" "pay table" and
> "pay out percentage" before you can get a truly meaningful answer
I don't have an exact of idea of these terms myself. I ahve seen
these terms being used here, and in VP articles.
Go ahead and give your own definition, assume a time period, and
provide an answer. And then, say what happens when the time period
gets longer or shorter.
A Myth