New Jersey Casino Rule Changes Favor Casinos - MORE Money for Trump

[tomm2thumbs]

Those that like to play in New Jersey, take note... money set aside for a Progressive Jackpot may never actually be given out in the Jackpot and may be just taken by the casino as pure profit. With as little as 30 days notice, they can pull the machine and keep the cash which was supposed to be paid out to winners...

Under the old rules, when a casino wanted to shut down one of these progressive machines, it posted a notice that it intended to shut down the machine in 30 days. If someone hit the jackpot before the 30 days were up, the casino would immediately shut down the machine. If no one hit the jackpot, the casino had to move the player-funded part of the progressive to another progressive machine. Under the new rules, after 30 days the casino can just shut down the machine and keep the player-funded portion of the progressive jackpot.

2nd change:

It used to be that a jackpot could be no less likely than 50,000,000 to 1. Now it can be 100,000,000 to 1. If a machine is played 6 spins per minute, 24 hours a day, 7 days a week, this jackpot will hit on the average once every 32 years.

Really nice way to snatch those retirees' money even faster and leave less room for someone to even win a thing.

So, still wanna play in Atlantic City?


Link:
http://robison.casinocitytimes.com/article/new-jersey-casino-rule-changes-favor-casinos-59725

[provis99]

1. Won't stop Trump from bankrupting his casino for the fourth time.

[MadHound]

2. Why play at all, anywhere? It's a sucker's game.

Sorry, but I have little sympathy on this one. Anybody walking into a casino to gamble might as well figure out immediately that they are walking out poorer.

[coalition_unwilling]

3. While it is true that the proverbial odds always favor the house, it is entirely

possible to enter the casino and leave it richer. The way casinos make money in general (the OP notwithstanding) is that when they win a bet, they win the entire bet. But when a casino loses a bet, it does not pay what the true odds say the casino should pay. (This is known as the 'vig'). You could win 5 $1 even-money bets in a row and, if you left the table then, you would be $5 richer. What you don't know is that, depending on the odds of the bets you won, perhaps the true odds say you should have left the table $5.20 richer. The $0.20 the casino did not pay you is the vig, the price you pay for letting the casino book the game and the source of its profits.

See Scarne's "New Complete Guide to Casino Gambling" for more on how casinos book honest games but still make money.

[tomm2thumbs]

6. great info on the vig

[TheMadMonk]

4. Indeed. As my grandfather oftimes said: "It's the bookie's wife who...

...wears the fur coat."

If you want a guaranteed way of making money with betting then, stick to the neddies, avoid all large meets and back the leading apprentice jockey to place (NOT win).

If you do your homework, you are pretty much guaranteed an income. And hopefully at the end of 6-12 months you will be so bored, that you'll give up gambling altogether as a mugs game.

[tomm2thumbs]

5. true, and hopefully this kind of info will encourage more folks to skip Atlantic City

when the house not only takes their cut but also the pot, it gets ridiculous. Hopefully the more people hear, the more they'll stay away entirely