We lose on the long run through return percentage

[Accardo]

I just googled the return percentage of online casinos and saw different percentages that doesn't seem real. A slot machine can be written to pay out 98%, but its programmed to pay 90% and it's publicized that way to attract more people to play using that slot. Though one slot could be paying out that amount in the casino, yet my point is that no casino offers 100 percent payout that means if a slot pays out 94 percent for every 100 dollar bill spent on that machine the player losses 6$ to the casino. That is if you play longer times you'll lose, and we can almost never stay atop of the slot machines after long period of plays, unless you win a jackpot. Even if you win a huge amount, you can lose. They are numerous stories of people who won the jackpot and ended up spending the whole money back on the casino within a short period, 1 or 2 years, they lost the jackpot.


Isn't it?

Inspired by Jean Scott - Frugal Gambler

[Saint-loup]

I just googled the return percentage of online casinos and saw different percentages that doesn't seem real. A slot machine can be written to pay out 98%, but its programmed to pay 90% and it's publicized that way to attract more people to play using that slot. Though one slot could be paying out that amount in the casino, yet my point is that no casino offers 100 percent payout that means if a slot pays out 94 percent for every 100 dollar bill spent on that machine the player losses 6$ to the casino. That is if you play longer times you'll lose, and we can almost never stay atop of the slot machines after long period of plays, unless you win a jackpot. Even if you win a huge amount, you can lose. They are numerous stories of people who won the jackpot and ended up spending the whole money back on the casino within a short period, 1 or 2 years, they lost the jackpot.

Jackpots are taken into account by casinos to calculate their house edge from a game of course. And they don't want to have games with negative house edge except for promotions during short periods of time. So even when you win a jackpot on a game you are not likely to make profits if you play it since very long time unfortunately. It only happens when the jackpot is worth millions times your average stake but it's quite unusual, jackpots are worth 10 000x max in general.  

[Wiwo]

I just googled the return percentage of online casinos and saw different percentages that doesn't seem real. A slot machine can be written to pay out 98%, but its programmed to pay 90% and it's publicized that way to attract more people to play using that slot. Though one slot could be paying out that amount in the casino, yet my point is that no casino offers 100 percent payout that means if a slot pays out 94 percent for every 100 dollar bill spent on that machine the player losses 6$ to the casino. That is if you play longer times you'll lose, and we can almost never stay atop of the slot machines after long period of plays, unless we win a jackpot. Even if you win a huge amount, you can lose. They are numerous stories of people who won the jackpot and ended up spending the whole money back on the casino within a short period, 1 or 2 years, they lost the jackpot.


Isn't it?

Inspired by Jean Scott - Frugal Gambler

Sometimes I wonder how those who won such huge jackpots still gamble everything away, this has become a popular occurrence lately and I don't know what caused that,  we are all aware of the fact that casino game machines are calibrated in such a way that house is always a hedge above the players and even if the house loses their still gain or chargeback through their backdoor mechanism, so the best way to avoid losing to the house is never to take into account how many time you play and lost only gamble what you can afford to let go, and once you hit a jackpot, give a break and spend the money on some other things aside from gambling within the period.

[Fivestar4everMVP]

I just googled the return percentage of online casinos and saw different percentages that doesn't seem real. A slot machine can be written to pay out 98%, but its programmed to pay 90% and it's publicized that way to attract more people to play using that slot. Though one slot could be paying out that amount in the casino, yet my point is that no casino offers 100 percent payout that means if a slot pays out 94 percent for every 100 dollar bill spent on that machine the player losses 6$ to the casino. That is if you play longer times you'll lose, and we can almost never stay atop of the slot machines after long period of plays, unless you win a jackpot. Even if you win a huge amount, you can lose. They are numerous stories of people who won the jackpot and ended up spending the whole money back on the casino within a short period, 1 or 2 years, they lost the jackpot.


Isn't it?

You are sure correct, I agree with you, casino are built to always be in profit no matter which user wins and how much the user won, as long as that user is not the only gambler playing on that casino, the casino will always make the money back from other players, this is if the gambler is one that wins and run away with his winnings, but if the gambler that won the money is a faithful gambler on that casino, then over time, the casino wil recover all the money won by that user back, plus even more from that same user..

I have friends who have won huge amount of money from casinos, kept playing and within a few weeks, they lost everything they won back to the casino and even more..

[bitcampaign]

unless you win a jackpot. Even if you win a huge amount, you can lose. They are numerous stories of people who won the jackpot and ended up spending the whole money back on the casino within a short period, 1 or 2 years, they lost the jackpot.


Isn't it?

Inspired by Jean Scott - Frugal Gambler

there are no rich gamblers, there are rich bookmakers, besides, if you are used to gambling well, winning the jackpot will usually disappear again in the end on the gambling machine, depending on how he manages his winnings and rarely can anyone use their jackpot money to buy something worth even on average they spend more on gambling machines

[348Judah]

I just googled the return percentage of online casinos and saw different percentages that doesn't seem real. A slot machine can be written to pay out 98%, but its programmed to pay 90% and it's publicized that way to attract more people to play using that slot.

This is the reality with most gambling casinos, when you're to choose anyone of them to use then make sure you read all their conditions which were clearly stated on their privacy policy and understand them, I think this is also common in other areas aside gambling whereby they take off their return percentage from your earnings, winnings or or money borrowed as their own interests for the provisioning of the service or platform used, so this is normal and very common.

[Baofeng]

They are numerous stories of people who won the jackpot and ended up spending the whole money back on the casino within a short period, 1 or 2 years, they lost the jackpot.

It's obvious that this winner didn't manage their winning money very well and just to gamble all the money that they have won as if giving it back to the casino itself. That's why you really need to be responsible as well once you hit that jackpot. You should learn how to invest your money very well because nothing last and it won't sustain you in the long run if you keep on gambling it away. But the problem is that they got this money from gambling itself, I mean they didn't work this ass off earning this big so they have this mentally to burn it away until it's too late and they regret not saving or investing for the long haul.

[Mahanton]

I just googled the return percentage of online casinos and saw different percentages that doesn't seem real. A slot machine can be written to pay out 98%, but its programmed to pay 90% and it's publicized that way to attract more people to play using that slot. Though one slot could be paying out that amount in the casino, yet my point is that no casino offers 100 percent payout that means if a slot pays out 94 percent for every 100 dollar bill spent on that machine the player losses 6$ to the casino. That is if you play longer times you'll lose, and we can almost never stay atop of the slot machines after long period of plays, unless you win a jackpot. Even if you win a huge amount, you can lose. They are numerous stories of people who won the jackpot and ended up spending the whole money back on the casino within a short period, 1 or 2 years, they lost the jackpot.


Isn't it?

Inspired by Jean Scott - Frugal Gambler

Thats how house edge works and its a very common concept or thing and this is where houses do make money which it isnt something shocking if you do ask me.If you do really make yourself believe on getting 100% then you are wrong but its impossible that gamblers wouldnt be able to realize these things but come to mind of on having that 4-10% reduction on wins isnt something big and your mind would tell that
you could easily patch it up until you do bust them all, this is why gambling business is really that profitable because people tend to ignore out these things and do still continue to play
despite of the situation and condition that they are dealing off with.

[ultrloa]

I just googled the return percentage of online casinos and saw different percentages that doesn't seem real. A slot machine can be written to pay out 98%, but its programmed to pay 90% and it's publicized that way to attract more people to play using that slot. Though one slot could be paying out that amount in the casino, yet my point is that no casino offers 100 percent payout that means if a slot pays out 94 percent for every 100 dollar bill spent on that machine the player losses 6$ to the casino. That is if you play longer times you'll lose, and we can almost never stay atop of the slot machines after long period of plays, unless we win a jackpot. Even if you win a huge amount, you can lose. They are numerous stories of people who won the jackpot and ended up spending the whole money back on the casino within a short period, 1 or 2 years, they lost the jackpot.


Isn't it?

Inspired by Jean Scott - Frugal Gambler

Sometimes I wonder how those who won such huge jackpots still gamble everything away, this has become a popular occurrence lately and I don't know what caused that,  we are all aware of the fact that casino game machines are calibrated in such a way that house is always a hedge above the players and even if the house loses their still gain or chargeback through their backdoor mechanism, so the best way to avoid losing to the house is never to take into account how many time you play and lost only gamble what you can afford to let go, and once you hit a jackpot, give a break and spend the money on some other things aside from gambling within the period.

Normal thing already on a casino so I think people go there aware about this that they have more chances to lose than winning since house always have an advantage to win with this. What most important there is you enjoy the game that's why its always important that the money you spent is those what you can afford to lose.

[coin-investor]

I just googled the return percentage of online casinos and saw different percentages that doesn't seem real. A slot machine can be written to pay out 98%, but its programmed to pay 90% and it's publicized that way to attract more people to play using that slot. Though one slot could be paying out that amount in the casino, yet my point is that no casino offers 100 percent payout that means if a slot pays out 94 percent for every 100 dollar bill spent on that machine the player losses 6$ to the casino. That is if you play longer times you'll lose, and we can almost never stay atop of the slot machines after long period of plays, unless you win a jackpot. Even if you win a huge amount, you can lose. They are numerous stories of people who won the jackpot and ended up spending the whole money back on the casino within a short period, 1 or 2 years, they lost the jackpot.


Isn't it?

Inspired by Jean Scott - Frugal Gambler

It's already an established fact that the longer you play in one session the higher the chances you lose, whether you play online or offline, the casino edge always plays out and when it comes to slots whether you play online or offline is very hard to do a repeat of the jackpot, you should be very lucky to be able to win another jackpot in just a short period of time, if there's something like chasing your losses, there is such a thing as striking while the iron is hot in gambling, two things that gamblers need to avoid.

[n0ne]

That's how gambling works. If not what is the revenue for the gambling platforms that keeps people entertained. If the calculation is being made every gambling platform will have the similarity in the return percentage. What one losses gets reflected as win on someone's game and this is what gambling is all about luck. More the luck more will be the chance of having better return percentage.

When we take gambling in the right way for entertainment the return percentage won't hurt us in any means. When we start reaching gambling platforms to make money we'll be experiencing downfall in all ways.

[uneng]

They are numerous stories of people who won the jackpot and ended up spending the whole money back on the casino within a short period, 1 or 2 years, they lost the jackpot.


Isn't it?

Inspired by Jean Scott - Frugal Gambler

That is why gamblers should be smart when using the jackpot prize won from slot-machines. If they continue gambling, of course they are going to lose the entire prize along the months or years, without hiting another jackpot of the same size, because it's really unlikely.

If those lucky winners simply use their money wisely, making it grow through investments, they can make extra income from that and use the generated income to continue their gambling hobby. This way they aren't going to lose on long run, because thanks to gambling they achieved a lifetime extra income which allows them to maintain their gambling activity in a frequent basis.

[lionheart78]

I just googled the return percentage of online casinos and saw different percentages that doesn't seem real. A slot machine can be written to pay out 98%, but its programmed to pay 90% and it's publicized that way to attract more people to play using that slot. Though one slot could be paying out that amount in the casino, yet my point is that no casino offers 100 percent payout that means if a slot pays out 94 percent for every 100 dollar bill spent on that machine the player losses 6$ to the casino. That is if you play longer times you'll lose, and we can almost never stay atop of the slot machines after long period of plays, unless you win a jackpot. Even if you win a huge amount, you can lose. They are numerous stories of people who won the jackpot and ended up spending the whole money back on the casino within a short period, 1 or 2 years, they lost the jackpot.


Isn't it?

Inspired by Jean Scott - Frugal Gambler

Continuous play in a casino will end up with any player in a loss.  The only way to win in a casino is to know when to stop if you are still in profit.  The house edge is design in a way the players bankroll is slowly getting eaten by the casino.  In worst cases, anyone can play without triggering huge wins such as jackpot.

They are numerous stories of people who won the jackpot and ended up spending the whole money back on the casino within a short period, 1 or 2 years, they lost the jackpot.


Isn't it?

Inspired by Jean Scott - Frugal Gambler

That is why gamblers should be smart when using the jackpot prize won from slot-machines. If they continue gambling, of course they are going to lose the entire prize along the months or years, without hiting another jackpot of the same size, because it's really unlikely.

True a gambler must be smart, I read one of the members here won a dice jackpot from a casino advertised here and buy a house and lot from it.  That indeed is a smart thing to do instead of playing in a casino spending all the winnings in hope of winning the jackpot again.

If those lucky winners simply use their money wisely, making it grow through investments, they can make extra income from that and use the generated income to continue their gambling hobby. This way they aren't going to lose on long run, because thanks to gambling they achieved a lifetime extra income which allows them to maintain their gambling activity in a frequent basis.

The problem is, not all jackpot winners are financially literate.  They were drowned by the glory of winning huge amounts and started on their spending spree.  We can see that many lotto grand winners often ends up on the state when they had not won any and sometimes even worst because they got hooked on the lifestyle of having lots of money.

[dothebeats]

That's their house edge basically, hence why people keep saying "the house always wins" because those small amounts can accrue over time and even if you win here and there, the casino will always have a way to get those winnings from you without you even knowing. The only way to win against casinos is to know when to stop when you're ahead, and never look back no matter how tempting the jackpots may be. Casinos win because there are a lot of people out there that don't know when to stop and how to stop despite winning continuously and been given the chance to quit and forget about gambling.

[bittraffic]

They are numerous stories of people who won the jackpot and ended up spending the whole money back on the casino within a short period, 1 or 2 years, they lost the jackpot.


Isn't it?

Inspired by Jean Scott - Frugal Gambler

That is why gamblers should be smart when using the jackpot prize won from slot-machines. If they continue gambling, of course they are going to lose the entire prize along the months or years, without hiting another jackpot of the same size, because it's really unlikely.

If those lucky winners simply use their money wisely, making it grow through investments, they can make extra income from that and use the generated income to continue their gambling hobby. This way they aren't going to lose on long run, because thanks to gambling they achieved a lifetime extra income which allows them to maintain their gambling activity in a frequent basis.

Sometimes it doesn't take 1 to 2 years before losing the jackpot. For some people who win big in casinos like poker or blackjack, the server will give you free drinks for your mood.  And then they continue playing for the rest of the day.

Of the million people spent hundreds over a one arm bandit a day, never have I heard a story where a man wins a jackpot and then leaves with the full amount. The program itself cheats not just the casino.

[Fundamentals Of]

Yes, it works like that. Casinos would always have the upper hand. It is math. It can't be wrong. Even those big jackpots, the casinos are already taking them into account. They are not like making a risk or gambling with those big jackpots they strongly promote and entice gamblers with. They know that even if somebody wins the jackpot, they will always end up with a net positive overall. Casinos are moneymaking machines. Even big prizes paid out would eventually come back to them. But this is not math anymore, this is psychology.

[Solosanz]

This is the reason before you want to gamble, make sure you must trust the slot machine or the gambling provider first.

It's true the gambler will lose in the long run due to house edge, but there's a casino have a happy hour promotion where few slots will give 100% payout since the house edge is 0%, it was really a dream promotion for any gambler. But I don't know which casino currently still have such promotion because I haven't seen it for few years recently.

[TravelMug]

Yes, the longer we play in casino the higher the chances that the house edge will caught on us.

That's why you will hear others advising that once you won already, don't stay long and quit and exit and live another day. Otherwise if you continue to chase and extend your luck, you might lose in the end.

For the slots, that's what you call RTP (Return to Player), but I'm sure most of us are not checking for it when we play slots, especially machine that is our favorite. As long as we are happy and enjoying that game, then we are all good win or lose.

[xSkylarx]

They are numerous stories of people who won the jackpot and ended up spending the whole money back on the casino within a short period, 1 or 2 years, they lost the jackpot.


Isn't it?

Inspired by Jean Scott - Frugal Gambler

That is why gamblers should be smart when using the jackpot prize won from slot-machines. If they continue gambling, of course they are going to lose the entire prize along the months or years, without hiting another jackpot of the same size, because it's really unlikely.

If those lucky winners simply use their money wisely, making it grow through investments, they can make extra income from that and use the generated income to continue their gambling hobby. This way they aren't going to lose on long run, because thanks to gambling they achieved a lifetime extra income which allows them to maintain their gambling activity in a frequent basis.

Sometimes it doesn't take 1 to 2 years before losing the jackpot. For some people who win big in casinos like poker or blackjack, the server will give you free drinks for your mood.  And then they continue playing for the rest of the day.

Of the million people spent hundreds over a one arm bandit a day, never have I heard a story where a man wins a jackpot and then leaves with the full amount. The program itself cheats not just the casino.

Bigger bets and also you are not managing your money well like spending here and there and also giving a lot of tips to everyone. Though most people believe that if the money you earn is not hard-earned, it will vanish quickly, unlike hard-earned money. Those who win a jackpot in the slot and again play it hoping to win again are addicted to it because most people will tend to invest those huge amounts of money in business and will be staying away from gambling.

[ethereumhunter]

That's true @OP. The gambling business is about making a lot of money from losing gamblers. And after all, if we win, the percentage of our losses can be greater than the total number of wins we get. But unfortunately, we often don't realize that because we have seen the number of big wins we get. This makes us forget about the total defeat we experienced so that we feel we have recovered from our previous defeat. But we forget that before that, we have experienced even more defeats, even if we count how much money we spent at the gambling table and lost from the first time we played gambling.