In Detroit . . .

[Titan]

Originally posted by: Zenmervolt

Originally posted by: Titan
I was thinking it would be fun to make a casino where all the games are 50/50 odds. I bet I would come out ahead just because of human hope and greed.

Statistics fail.

ZV

I'm not talking statistics on the games, but on human nature. People are weird. I don't think any casinos are public companies who release their actual take from a game. So I'm saying I think they already make more than the table odds already. People tip the dealer, feel like they need to give some back, all kinds of crazy, irrational behavior.

 

[kranky]

Originally posted by: SunnyD
So it's the casino's job to understand the financial background of every patron now? How were they supposed to know the patron wasn't some billionaire and $673k over the span of SEVERAL YEARS was nothing more than pocket change?

Securities brokers, by law, are supposed to recognize when an investment is inappropriate for a customer given their assets. If a customer cannot tolerate a significant loss, the advisor is supposed to know that and take action to limit losses.

I predict before too long, someone will successfully win a suit against a casino using this logic. Some customer will make a point of telling casino employees about their assets and income and then lose a lot of money, and sue because the casino "should have known" they were gambling inappropriately given their income and assets.

 

[Train]

Originally posted by: kranky

Originally posted by: SunnyD
So it's the casino's job to understand the financial background of every patron now? How were they supposed to know the patron wasn't some billionaire and $673k over the span of SEVERAL YEARS was nothing more than pocket change?

Securities brokers, by law, are supposed to recognize when an investment is inappropriate for a customer given their assets. If a customer cannot tolerate a significant loss, the advisor is supposed to know that and take action to limit losses.

I predict before too long, someone will successfully win a suit against a casino using this logic. Some customer will make a point of telling casino employees about their assets and income and then lose a lot of money, and sue because the casino "should have known" they were gambling inappropriately given their income and assets.

Not in Michigan. Law, Logic, and the constitution have no meaning there. The all powerful rule is:

If it makes money for the State/Detroit govts, it is good, if it takes money from the State/Detroit govts, it is bad.

And they will bend and twist whatever laws there may be to keep this rule in effect. And since the casinos make money for the state, the state ain't letting shit happen to them.

 

[Kyteland]

Originally posted by: Train
Some slots these days have have a 99.999999999% payout, but the casinos make a killing because people never stop playing them.

EDIT: ok that would work out to 1 penny per each 100 billion played, which is an exageration, but I have heard of the casino keeping less than a penny per thousand dollars paid and still rake in the dough.

It's a complete exaggeration. I doubt you'd find many (if any) slots over 99% theoretical in any casino in America, even high limit machines.

 

[So]

Originally posted by: Titan

Originally posted by: Zenmervolt

Originally posted by: Titan
I was thinking it would be fun to make a casino where all the games are 50/50 odds. I bet I would come out ahead just because of human hope and greed.

Statistics fail.

ZV

I'm not talking statistics on the games, but on human nature. People are weird. I don't think any casinos are public companies who release their actual take from a game. So I'm saying I think they already make more than the table odds already. People tip the dealer, feel like they need to give some back, all kinds of crazy, irrational behavior.

Why would you do that when people gamble on slots that offer significantly worse odds and higher profits?

 

[CPA]

LMAO, the lawyer got pwned.

 

[Red Squirrel]

LOL that is sad. Guess soon there will be disclaimers saying that you can lose money at the casino.

 

[AstroManLuca]

Originally posted by: Titan
People sue bars when they let people drink too much.

The difference is that alcohol affects your judgment. Perhaps gambling does, for some people, but it's not a physical substance like alcohol.

 

[lxskllr]

Originally posted by: Titan


Since it is only American to take advantage of human nature, I was thinking it would be fun to make a casino where all the games are 50/50 odds. I bet I would come out ahead just because of human hope and greed.

Play blackjack. That game has some of the best odds in the casino. The advantage is still towards the house, but with smart playing, and enough money to play with, you can come out ahead.

 

[jonks]

Originally posted by: Marlin1975

Originally posted by: Titan
People sue bars when they let people drink too much.

Most states have laws that you cannot serve a drink to someone that is drunk. So that could be a valid lawsuit depending on the state.

I recall suits to recover money from casinos that continued to serve obviously innebriated patrons who continued to bet and lose big. IIRC, the suit prevailed.

 

[Slick5150]

Originally posted by: Train

Originally posted by: kranky

Originally posted by: SunnyD
So it's the casino's job to understand the financial background of every patron now? How were they supposed to know the patron wasn't some billionaire and $673k over the span of SEVERAL YEARS was nothing more than pocket change?

Securities brokers, by law, are supposed to recognize when an investment is inappropriate for a customer given their assets. If a customer cannot tolerate a significant loss, the advisor is supposed to know that and take action to limit losses.

I predict before too long, someone will successfully win a suit against a casino using this logic. Some customer will make a point of telling casino employees about their assets and income and then lose a lot of money, and sue because the casino "should have known" they were gambling inappropriately given their income and assets.

Not in Michigan. Law, Logic, and the constitution have no meaning there. The all powerful rule is:

If it makes money for the State/Detroit govts, it is good, if it takes money from the State/Detroit govts, it is bad.

And they will bend and twist whatever laws there may be to keep this rule in effect. And since the casinos make money for the state, the state ain't letting shit happen to them.

You have absolutely no idea what you're talking about. But hey, making up claims is fun and certainly easier than using logic and facts in a discussion, so have at it.

 

[Train]

Originally posted by: Slick5150

Originally posted by: Train

Originally posted by: kranky

Originally posted by: SunnyD
So it's the casino's job to understand the financial background of every patron now? How were they supposed to know the patron wasn't some billionaire and $673k over the span of SEVERAL YEARS was nothing more than pocket change?

Securities brokers, by law, are supposed to recognize when an investment is inappropriate for a customer given their assets. If a customer cannot tolerate a significant loss, the advisor is supposed to know that and take action to limit losses.

I predict before too long, someone will successfully win a suit against a casino using this logic. Some customer will make a point of telling casino employees about their assets and income and then lose a lot of money, and sue because the casino "should have known" they were gambling inappropriately given their income and assets.

Not in Michigan. Law, Logic, and the constitution have no meaning there. The all powerful rule is:

If it makes money for the State/Detroit govts, it is good, if it takes money from the State/Detroit govts, it is bad.

And they will bend and twist whatever laws there may be to keep this rule in effect. And since the casinos make money for the state, the state ain't letting shit happen to them.

You have absolutely no idea what you're talking about. But hey, making up claims is fun and certainly easier than using logic and facts in a discussion, so have at it.

Why wouldn't I? Do you even live in Michigan? If you do then your a blind fool.

 

[thereds]

Originally posted by: CRXican

Originally posted by: thereds

Originally posted by: CRXican
saw that guy on the news, dumbass

Who is the dumbass again?

you

Ya got me!

 

[Lithium381]

Originally posted by: JLee

Originally posted by: Titan
People sue bars when they let people drink too much.

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