We lose on the long run through return percentage

[AmoreJaz]

It's profit making machine, hehehe, that's why who invented casinos are brilliant because you will not lose business wise.
~snip~

^For the owner of the machine but not making a profit for the gambler.
If that kind of business won't profitable to them, I think they are slowly dying but yet, look at them now, the number has been increasing those who owned slot machines, even the online slot the grown like a mushroom that keeps coming up. So I think they are very profitable businesses, and those who gamble and fight against the house edge will most likely lose in the end, the more you will time you will spend the more chances of losing you have, that is the fact.

that's true, just look at the slots provider and you can't count them all now. but for casino owners, better employ trusted slots providers. for gamblers, they usually check the RTPs. so this feature should always be available from the slots provider.
gambling is a money making business. but if you don't know what you're doing, you can also go bankrupt in this business. just look at some online casinos here that were abandoned already.

[len01]

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

because slot games only have a small chance of winning and the luck that gets there is very rare for getting the jackpot.
actually a Slot game for me is not completely there will be RTP. I mean when I spend $100 in one of the Slot games, sometimes the RTP doesn't work and only 5% returns I get. many times I'm like that but after that usually there will be a return + profit that is around 50%. And even more careless, sometimes gamblers, if they have benefited from Slots or got jackpots from Slots, they will continue to play with increased curiosity and dopamine in the brain.
and actually the way to spend money faster for me is in slot games but the opportunity to get big wins is also in slot games.

[Plaguedeath]

because slot games only have a small chance of winning and the luck that gets there is very rare for getting the jackpot.
actually a Slot game for me is not completely there will be RTP. I mean when I spend $100 in one of the Slot games, sometimes the RTP doesn't work and only 5% returns I get. many times I'm like that but after that usually there will be a return + profit that is around 50%. And even more careless, sometimes gamblers, if they have benefited from Slots or got jackpots from Slots, they will continue to play with increased curiosity and dopamine in the brain.
and actually the way to spend money faster for me is in slot games but the opportunity to get big wins is also in slot games.

It's because you're not keep gamble for really long with your initial bankroll and in the same game, the RTP rate is expected if you gamble for long and not only for 100x wager, it might 1000x wager or more to calculate the right RTP. It's similar like you bet all of your bankroll in one spin, you might lose all of your money or you might get a lot of money, which make you're not care with the RTP rate.

[Kakmakr]

The way I understand this is as follows...

The return to player (RTP) are configured by the third party Slot provider and cannot be easily changed, but some casinos have their own original games with very good RTP. (They can alter the RTP very quickly on their own games, with the push of a few buttons)

Now for us to determine what the configured RTP for a Slot are... is almost impossible, because you need to do over 1 million bets to determine the RTP.... and they might have changed the RTP, while you were doing that. The cost is also very expensive to do that... (say you do 1 000 000 bets of $0.10 each, then you might spend almost $100 000 for that test) 

The casinos have to make profit or they will have to close their doors.... but we need to have some cheap and fast option to verify their RTP. (Total transparency are needed) 

[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.

In as much as it is business, you don't  expect a business owner to lose or continue running on losses, if it is so, then no one will want to own casino. But for the rush to own gambling companies should tell you how much gain that is in it.
If you really want to make big money, own a casino and don't be a gambler. Gambling is for fun and not a steady flow of income.

But to own a casino, you need a lot of money. I don't know how much exactly but we're talking hundreds of thousands of dollars or even more, so not everyone can make that casino. In addition, it is not easy to run a casino because there will be stiff competition among casinos.

And in the meantime, we can only play gambling in their casino without having the opportunity to create a casino. But we will indeed continue to lose money if we continue to play gambling at the casino and for that, we must be able to take advantage of our time to play and rest so we don't lose a lot of money.

[YOSHIE]

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.

Money wins gambling bets/hot jackpots, you can't be calm before spending everything you win, I don't speak for other people, I experienced it myself, sleeping uncomfortable, spending doesn't feel, whatever, what you want to do with the money win the jackpot is not calm, before I re-bet.

Winning a jackpot/gambling is like sleeping with a beautiful woman, once you try to get addicted, once you win you want to try again, that's gambling, the percentage of losing without realizing it is 90%, 10% return, if you don't believe me just ask the person who really gambled how much money he spent and how much money he won on the bet, even if it's a jackpot.

For that, try to gamble with the hot money you get, even though losing is naturally hot vs. hot.

[aioc]

 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.

Because of two things hoping to win the jackpot again and addiction, we are more addictive and motivate to gamble more because we have tasted winning the jackpot,we are not aware of it until we compute that we lose the jackpot that we've won.
It really hurt calculating what we've loss that what we've won, but if we are playing within our means and treat gambling as entertainment that will be our consolation, so don't expect because you've won the jackpot you've beat the house, because house will get it back  eventually through time.

[madnessteat]

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.

Money wins gambling bets/hot jackpots, you can't be calm before spending everything you win, I don't speak for other people, I experienced it myself, sleeping uncomfortable, spending doesn't feel, whatever, what you want to do with the money win the jackpot is not calm, before I re-bet.

Winning a jackpot/gambling is like sleeping with a beautiful woman, once you try to get addicted, once you win you want to try again, that's gambling, the percentage of losing without realizing it is 90%, 10% return, if you don't believe me just ask the person who really gambled how much money he spent and how much money he won on the bet, even if it's a jackpot.

For that, try to gamble with the hot money you get, even though losing is naturally hot vs. hot.

Most of us go back to the casino again and again, no matter how much money we have lost or won before. It seems to me that only a crazy person does not understand that casinos will not operate at a loss. Any gambling assumes that in the long run the gambler will lose his money. In order not to lose large sums you need to learn to play for fun and limit your gambling budget. Otherwise you can lose a lot and we all know such examples.

[Accardo]

The way I understand this is as follows...

The return to player (RTP) are configured by the third party Slot provider and cannot be easily changed, but some casinos have their own original games with very good RTP. (They can alter the RTP very quickly on their own games, with the push of a few buttons)

Now for us to determine what the configured RTP for a Slot are... is almost impossible, because you need to do over 1 million bets to determine the RTP.... and they might have changed the RTP, while you were doing that. The cost is also very expensive to do that... (say you do 1 000 000 bets of $0.10 each, then you might spend almost $100 000 for that test) 

The casinos have to make profit or they will have to close their doors.... but we need to have some cheap and fast option to verify their RTP. (Total transparency are needed) 

I think the third party is the casino, and they program some slot machine to pay out as they've written on the slot machine, but we must be careful to determine, which slot pays out our desired RTP. Some gamblers don't stick to one machine, in real casino, hoping to find the best machine, and it's the wrong practice. What matters is that we would lose, and jumping from machine to another to determine how they're programmed won't help anybody. So, instead of testing with $100,000, focusing on enjoying the game with 100k would help us stay longer or gamble responsibly. The most important part is scheduling our money in a way that'll it'll carry us for longer periods, not throwing them all in one sitting.

[Peanutswar]

That's how the gambling casino earn of course if they make 100 per cent of the win rate it's a huge loss to them that's why still they are giving a chance of winning to the players even though its above 90 per cent there's a chance still players lose the game, those lucky people are the one who experiences this high chance of winning the game, that's the reason why they keep continuously playing sometimes it shows up a good multiplier upon playing more games. But of course if you hit a good jackpot and being greedy makes your game ruin.

[goaldigger]

That's how the gambling casino earn of course if they make 100 per cent of the win rate it's a huge loss to them that's why still they are giving a chance of winning to the players even though its above 90 per cent there's a chance still players lose the game, those lucky people are the one who experiences this high chance of winning the game, that's the reason why they keep continuously playing sometimes it shows up a good multiplier upon playing more games. But of course if you hit a good jackpot and being greedy makes your game ruin.

If you monitor your activities, you can easily know the percentage of your winnings versus your losses, and as a gambler you can't expect to always win because the casinos is designed for the lucky players and for the benefit of the house of course. The return might be low in gambling because profit is not guaranteed and if you are being too careless with your bets, you might lose more. The casinos have to be more fair though so they can retain the players and attract new players.

[BITCOIN4X]

I think the third party is the casino, and they program some slot machine to pay out as they've written on the slot machine, but we must be careful to determine, which slot pays out our desired RTP. Some gamblers don't stick to one machine, in real casino, hoping to find the best machine, and it's the wrong practice. What matters is that we would lose, and jumping from machine to another to determine how they're programmed won't help anybody. So, instead of testing with $100,000, focusing on enjoying the game with 100k would help us stay longer or gamble responsibly. The most important part is scheduling our money in a way that'll it'll carry us for longer periods, not throwing them all in one sitting.

Slots are games based on luck regardless of whether the owner has arranged the machine in such way or as fair as possible. You just have to be aware of it and play an amount that you can afford to lose. I tend to play slots to some extent when I'm relaxed and only when I'm resting. No need to spend hours, but 30 minutes for the deposit limit amount is entertaining enough.

Instead of slots I guess sports betting is much nicer to look forward to. But it all depends on the interests of each gambler, as long as they are happy then it doesn't matter.

[molsewid]

That's how the gambling casino earn of course if they make 100 per cent of the win rate it's a huge loss to them that's why still they are giving a chance of winning to the players even though its above 90 per cent there's a chance still players lose the game, those lucky people are the one who experiences this high chance of winning the game, that's the reason why they keep continuously playing sometimes it shows up a good multiplier upon playing more games. But of course if you hit a good jackpot and being greedy makes your game ruin.

If you monitor your activities, you can easily know the percentage of your winnings versus your losses, and as a gambler you can't expect to always win because the casinos is designed for the lucky players and for the benefit of the house of course. The return might be low in gambling because profit is not guaranteed and if you are being too careless with your bets, you might lose more. The casinos have to be more fair though so they can retain the players and attract new players.

Exactly, at first it is too tiring and to boring to monitor your daily bets or transactions but then a proper book keeping I mean if this is the right term, a proper book keeping will give us a lot of help if we want to have a good discipline in gambling. We can avoid too much losses as well, only if we really don't want to lose too much I mean if we encounter a streak or loses then we should rest and gamble in next week, don't act too much to it and don't try to get it back all, it will only lead to more issues.

[darkangel11]

The way I understand this is as follows...

The return to player (RTP) are configured by the third party Slot provider and cannot be easily changed, but some casinos have their own original games with very good RTP. (They can alter the RTP very quickly on their own games, with the push of a few buttons)

Now for us to determine what the configured RTP for a Slot are... is almost impossible, because you need to do over 1 million bets to determine the RTP.... and they might have changed the RTP, while you were doing that. The cost is also very expensive to do that... (say you do 1 000 000 bets of $0.10 each, then you might spend almost $100 000 for that test) 

The casinos have to make profit or they will have to close their doors.... but we need to have some cheap and fast option to verify their RTP. (Total transparency are needed) 

And by spending your 100k and getting to know their RTP you get nothing in return, because what are you going to do with that knowledge? Stop playing? You've already spent so much that they couldn't care less about you leaving.
If RTP was really something that could help you strategize... but there's no strategy in slots. You push a button or pull a lever and hope for the best.
It's true they have to make money or go out of business and the trick is to make just enough so that the players keep thinking they stand a chance

[Aanuoluwatofunmi]

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

Talking about return percentage, it's a privilege and not a mist every casino must give, when you receive one and continue to gamble till you loose everything you won over time then it's left to you as your choice, gambling is fun quite alright but we must engage doing things that will always make it fun to us and not turn into sadness, part of which is expected of us to adequately plan our gambling lifestyle right to the best of our own interest, this is one of the ways you can get the best satisfaction in gambling when you're contempted and planned as expected.

[dothebeats]

That's how the gambling casino earn of course if they make 100 per cent of the win rate it's a huge loss to them that's why still they are giving a chance of winning to the players even though its above 90 per cent there's a chance still players lose the game, those lucky people are the one who experiences this high chance of winning the game, that's the reason why they keep continuously playing sometimes it shows up a good multiplier upon playing more games. But of course if you hit a good jackpot and being greedy makes your game ruin.

That's why you always have to make sure that your spendings are in check, otherwise even if you win against the casino, your greediness will lead you to lose it all just because you haven't stopped when you're ahead. The high % of wins on the side of the player, on paper, might seem like a good deal. But in reality it's really in favor of the casino because that less than 1% will always eat out the winnings of gamblers in the long run. You can never really disregard those small percentages because that's what's going to bite you in the end.

[blockman]

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.

I've heard countless stories that those people who have won the lottery in my country ended up with nothing just after a few years. Note that they've got a huge winning around $270k in today's time and they've just spent it all within less than five years. It was from several years ago and then inflation back then wasn't that much and that amount is really quite big to spend with. The saddest story that I've heard, that lottery winner spent all of his winnings from luxury and didn't even managed to save for his future.

[OgNasty]

Do people really not realize this is how casinos work? Did you believe they paid out 100%? Obviously they make money or they wouldn’t be in business. Beating the odds is the dream of every gambler and why casinos are always so busy. Don’t kid yourself though, all the costs of running a casino and profits to their owners are paid from gambling losses. If you play long enough, you will lose. It’s the way casinos work…

[Fivestar4everMVP]

Do people really not realize this is how casinos work? Did you believe they paid out 100%? Obviously they make money or they wouldn’t be in business. Beating the odds is the dream of every gambler and why casinos are always so busy. Don’t kid yourself though, all the costs of running a casino and profits to their owners are paid from gambling losses. If you play long enough, you will lose. It’s the way casinos work…

You are absolutely correct, but I can tell you that majority of gambler don't realize this, and because majority(if not all) of gamblers don't keep a gambling record, they may never realize that they are loosing more to the casino, than they are winning from them.

But for me personally, I don't know about other people out there, the sure profit of gambling is the fun in it, the cruise, the relaxation that comes with it, aside this, it is really hard to make profit against a casino in the long term of gambling, and this makes me wonder sometimes, how professional gamblers make a living off gambling, since professional means that is what they do for a living.

[348Judah]

It will always be termed a loss at the end since you gamble out the entire fund including the return percentage and the winning amounts back into gambling with the hope of getting more in addition to the ones on ground ready, tgis is one of the tricks that gamblers were never careful of whenever they are gambling, don't take the risk do high, gambles moderately, and avoid returning your fund back to gambling either at once or gradually because with time it will all end one day.