Wednesday, July 24, 2019

“GTA Online's New Casino Lets Players Spend Real Money On Virtual Gambling - Forbes” plus 2 more

“GTA Online's New Casino Lets Players Spend Real Money On Virtual Gambling - Forbes” plus 2 more


GTA Online's New Casino Lets Players Spend Real Money On Virtual Gambling - Forbes

Posted: 23 Jul 2019 11:41 AM PDT

There's been an ongoing debate about gambling in video games for the past few years, ever since loot boxes became widespread not just in mobile games, but in console and PC titles like Overwatch, Call of Duty and FIFA.

Now, Rockstar Games have added the Diamond Casino & Resort to GTA Online. It's a pretty cool-sounding new location, replete with a rooftop infinity pool, lots of new missions and a virtual casino where you can spend in-game chips on slot machines, Roulette, Black Jack or Three Hand Poker.

This is where things get . . . dicey. You can spend real money in GTA Online to purchase the game's in-game currency, which you can then spend on cosmetics, vehicles and so forth. You can also now spend this currency on the Casino's chips, which are essentially a second in-game currency that can be used for various Casino-related activities and cosmetics, and to purchase chips with.

So you can spend real money to buy in-game chips and then gamble them away. In the process, you can win chips and spend those chips on more gambling or more in-game content. What you can't do is take those chips and cash them in for real money.

That's probably a good thing—after all, if you could gamble real money for virtual chips and then cash that out for real money it would quite literally be gambling. There's no doubt that this would be a more addictive, potentially life-ruining experience for many players.

But even having the option to gamble real money in a virtual in-game casino, even when it never results in actually earning real winnings, poses its own ethical issues. Yes, the game is 18+, but I'm not sure that makes it any better. Honestly, a game with only virtual chips (that you can only earn via gameplay and can't purchase with real money) would still be something of a "gateway drug" for addicts or potential addicts. Allowing players to purchase chips is worse. While it might not be as bad as real gambling, it still strikes me as a bad idea with potentially bad consequences.

I don't believe that games like GTA cause real-world violence or transform players into misogynists. I don't think the act of shooting virtual guns at enemies made up of pixels and animations leads people to cause harm in the real world or that taking virtual drugs in a game leads to real drug abuse. These are all essentially fake experiences that don't mirror real-world ones in any meaningful way (a controller is not like a gun; an in-game "high" is not like doing drugs, etc.).

However, the same rules don't apply to other behaviors. Gambling online is already very much a reality and can lead to all the same problems people face gambling in brick-and-mortar casinos. Introducing more young people to gambling with real money can only cause more problems. The act of betting and winning is the same in a game as it is in real life.

Creating a virtual casino like this for GTA Online Rockstar's right, of course. Nothing about it is illegal. But it's still troubling in the same way loot boxes are troubling. Neither virtual slot machines or loot boxes are exactly the same thing as gambling, but they absolutely tap into the same parts of the brain that gambling taps into. Betting on random odds to win random stuff, whether that's virtual chips or new cosmetics, is still betting.

It's not really a black-and-white issue, of course. and I can see arguments on both sides of this that make sense. Even real gambling isn't a clear cut issue, which is why even in the US different states have wildly different gambling laws.

After all, people should be allowed to spend their money however they like so long as it isn't causing harm to others. On the other hand, gambling can lead to all sorts of problems, ruining lives and families as the casino gets richer. The house always wins, after all.

Let me know your thoughts on Twitter or Facebook.

Can You Play Slots for a Living? - BestUSCasinos.org

Posted: 23 Jul 2019 11:08 AM PDT

You can find stories about people gambling for a living. Many people play poker for a living, and it's easy to see why. Poker doesn't have a built in house edge; it has what amounts to a seat charge in the form of rake. Poker players aren't trying to win the house money, they compete for other player's money. This is different than most other forms of gambling.

You can also read about blackjack players that have learned how to count cards or find sloppy dealers that flash the value of down cards. Some of these players are able to play blackjack for a living. A small percentage of sports bettors, horse track bettors, and dog track bettors are also able to make enough money to gamble for a living.

But it's rare to find people who can gamble for a living who play other casino games. Bob Dancer claims that he was able to play video poker for a living several years back, but even if his claim is true, many things have changed since then. It's harder to find full pay video poker machines and casinos pay lower comp rates for video poker play.

I'm just guessing, but I believe that Dancer has probably made much more money from writing books than actually playing video poker.

Of course, there's nothing wrong with that and I'm not trying to say that he didn't make money playing. But I don't know if anyone is making a living playing video poker today. It's possible, but if there are players doing it, there aren't very many.

A few authors claim to make money playing craps using dice control. This has always struck me as a way to sell books and training courses, but just like Dancer's claim in video poker, I suppose a few people can use dice control. Also just like video poker, if people are successful at dice control, there aren't very many of them.

Games like slots, roulette, baccarat, and other table games don't have stories about gamblers playing them for a living. Does the lack of stories mean that these games are impossible to beat?

Slots are the most popular form of gambling in casinos. People love to play slots. This brings me to the reason for this article.

Can you play slots for a living?

The Hard Truth

Before you continue, consider exactly what making a living means. Some people live on $25,000 a year, while others seem to need $50,000 or $100,000 a year. Many factors come into play when determining how much someone needs to live.

Some of the factors include:

  • Where you live
  • How many people you have to support, like a spouse and children
  • How frugal your lifestyle is
  • How much debt you have

For the purposes of this article I'm going to use $52,000 a year as the threshold for making a living. This works out to $1,000 a week. You can use any number that you want, but unless you live in an expensive area, most people can survive on this amount.

Another issue that must be considered when you think about playing slots for a living is the lack of health insurance and other benefits. Professional gamblers have to find health care and they don't get paid time off. Health care is a serious expense for many people and it can be dangerous not to have some type of coverage.

Many young people don't worry about the lack of health care coverage, but as you get older it often becomes a real concern. If you have to pay for health insurance it can take a big chunk out of your income. Keep this in mind when you determine how much you need to make to play slots for a living.

The hard truth is playing slots for a living is almost impossible unless you're already wealthy and have enough money that you can afford to lose in the long run. It's much more likely that you're going to lose $1,000 a week than win $1,000 week playing slots.

While most slots players lose in the long run, it's not 100% impossible to play slots for a living. But such a small percentage of players make money that the truth is that you should probably forget the idea.

Slot machines are designed to guarantee, or lock in, a long term profit for the casino.

Each machine is programmed to pay back a certain percentage of every dollar wagers and keep the rest for the casino. These numbers are called different names, but I call them pay back percentage and the house edge.

A slot machine's pay back percentage is the amount of all bets returned to the player through wins on the machine. If a slot machine has a 95% pay back percentage that means that on average it gives back $95 out of every $100 wagered to the player.

If you consider this from the other angle you get the house edge. When the slot machine pays back $95 out of $100, it keeps the other $5 for profit. In other words, a machine that pays back $95 out of every $100 wagered has a 5% house edge.

When you add the house edge percentage and the pay back percentage together, they always equal 100%. This means that if you know one number you can subtract it from 100 to get the other number.

You can use these numbers to predict how much money you should win or lose over a set period of time, based on how much you bet per hour. Because the house edge is in the casino's favor, it means that if you can't figure out how to overcome the edge or get lucky, you're going to lose in the long run.

Most slot machines have a payback percentage between 90 and 98%. This means the house edge is between 2 and 10%. With a house edge, it means that you lose between 2 and 10% of every dollar you run through the machine.

Here's an example:

  • You play on a slot machine that has a 98% pay back percentage, which means it has a 2% house edge. Your bet size is $2 per spin and you make 400 spins per hour. You can figure out your average loss rate, or what you can expect to lose on average per hour, by using this formula.
  • Amount bet per spin times spins per hour times the house edge.
  • $2 X 400 X 2% = $16

This means that if you play for 10 hours your expected loss is $160. You simply multiply the expected hourly loss times the number of hours you plan to play and you get the average expected loss.

Slots are run by computers, which use a program based on math. These programs, unless the programmers made a mistake, make sure that the underlying math principles always come true. It might take millions of spins, but the programs guarantees that the machine produces the programmed profit percentage for the casino.

The house edge and pay back percentage are long term things. This means that these percentages are realized over a long period of time. In the short term the house edge and pay back percentages vary, sometimes a great deal. But eventually the short term variance evens out and produces the correct results.

How can you overcome the built in house edge?

Most players can't, and this is why it's almost impossible to play slots for a living.

If you still want to try to play slots for a living, the following sections have additional information you need to know. Just keep in mind that even if you use every trick and strategy in your power, you still might lose money in the long run.

Finding the Pay Back Percentage of Slots

You just learned about pay back percentage and the house edge and how these things guarantee the casino a profit. So the next question is how do you find out the house edge and pay back for slot machines?

Most casino games are designed in a way that it's fairly easy to determine the house edge and pay back percentage, or you can easily find the numbers with a quick internet search. But slots are different. The programs that run the machines have so many variables that unless you have access to the program it's impossible to determine the house edge and pay back percentage.

Another problem is that some machines offer different pay back percentages from the manufacturer, so each casino can order their machines with the percentage they want. You can find out more about finding slot machine pay back percentages here, but the news isn't good.

If you want to have the best chance to play slots for a living, you need to find the machines that offer the lowest house edge. These machines have the highest pay back percentage, so you have less to overcome.

The following sections include everything I know that can help you improve your chances to win. Four of them are strategies that you can put into action yourself, and the other one is based on hope. Sadly, hope isn't much of a strategy, but it fits in perfectly with how most people gamble. They put their money out and hope to win.

Online Bonuses

Online casinos often offer bonuses for slots players when they make a deposit. You can get 100% or more of your deposit matched with bonus money you can use to play slots. This sounds like a great way to overcome the house edge, and if the money was free it would be.

While bonus money looks like it's free, when you read the conditions and terms associated with the bonus you find out that it's not a simple as the casino giving you free money.

Every online slots bonus comes with rules and regulations about how you can use it, what you have to do before you can cash out your money, and if you get to keep any bonus amount when you meet the terms of the offer.

The terms vary from online casino to online casino, so it's important to read them before you make your deposit. Some bonuses are deducted from your balance when you make a cash out request, while others can be cashed out eventually.

When you accept an online slots bonus you have to meet certain requirements. These are usually called play through requirements. A play through requirement means that you have to play the bonus amount, and sometimes the deposit amount as well, a certain number of times to clear the bonus. The requirement is usually shown as a multiple, like 25X or 50X. This means you have to make wagers totaling 25 times or 50 times the bonus, and sometimes the deposit amount.

Here's an example:

  • You sign up at an online casino that offers a 100% sign up bonus on deposits up to $250. You make a $250 deposit and get a $250 bonus. This gives you a total bankroll of $500. The terms and conditions state that you have to play the deposit and bonus amount 50 times before you can cash out.
  • The total of the bonus and your deposit is $500, so you multiply this by 50 to find the total amount you have to bet. 50 X $500 = $25,000, so you have to make $25,000 worth of bets before cashing out. The best can be any size as long as the total amount reaches the limit.

You can use a trick at this point to get an idea of the possibility of clearing the bonus and having money left over. You can multiply the total amount you have to wager times the house edge to find the expected loss.

Using this example, if you play on a slot machine with a 5% house edge, your expected loss is $1,250. This means that usually you're going to run out of money before you clear the bonus. The only ways to change this are to play on a machine with a lower house edge, or find bonuses that have lower play through requirements.

You also need to make sure you understand the difference between cashable bonuses and the ones that are deducted from your balance. A bonus that can't be cashed out when you meet the playing requirements makes it unlikely you can beat the house edge.

Here's an example if you play a slot machine with a 2% house edge, using the same bonus numbers in the last example.

$25,000 X 2% = $500. This means that your expected loss is the same as your total bankroll of $500. Even if you get lucky and don't lose all $500, the odds of you having more than your deposit of $250 left after clearing the bonus is slim.

Does this mean that you shouldn't use online slots bonuses?

You should defiantly use online slots bonuses if you want to play slots. Even a bonus that's not cashable gives you extra money to gamble with. It also gives you extra chances to hit a big jackpot, which is the only way most slots players have of getting ahead.

Slots Tournaments

Slots tournaments aren't run at all casinos, but some casino run them from time to time, and a few run them on a regular basis. A slots tournament offers a minimum amount of play for a set entry fee and awards prizes for the top finishers.

Some casinos offer slots tournaments as a reward for a set amount of play and/or connected to their slots club program. If you can earn a free entry into a slots tournament, anything you win helps overcome the house edge on your normal slots play.

When you're looking for a slots tournament that has an entry fee, you should look for ones that have a guaranteed prize pool. If you can find tournaments that don't get enough entrants to cover the prize pool you can play with an edge. It won't greatly improve your chances of finishing in the money, but when the entry fees don't cover the prize pool it's profitable to play.

Here's an example:

  • The casino offers a slots tournament with a guaranteed prize pool of $1,000. The entry fee is $10 and they only get 80 people to sign up. If you divide the prize pool by the number of entrants you get the average value of playing.
  • In this case, the average is $12.50. Any time the average return for playing is higher than the entry fee you're playing with an edge.

You still have to finish in the money to win some money, but if you play in enough of these types of situations you come out ahead eventually.

Playing Slots for Comps and Promotions

Every time you play slots you should be earning comps. Sign up for the slots club at your local casino and look for online casinos that have a rewards program. The casinos don't give back enough in comps to overcome the normal house edge, but every penny you get back in comps helps lower your cost to play.

If you can combine an attractive online slots bonus with a decent comps program you improve your chances of winning a great deal.

Casinos also run promotions from time to time. You might be able to find free slots play vouchers and match play coupons in the local paper or on the web site of the casino where you're planning to ply. Promotions and coupons are a great way offset the built in house edge of the slot machines.

Getting Lucky

I hate to say it, but the only way most people can play slots for a living is to get lucky. If you're lucky enough to hit a big jackpot sometime in your life, and are smart with the money, you can afford to play slots full time.

The only slot machines I play are the ones that offer either a progressive jackpot or ones that have a set top jackpot prize of $100,000 or higher. I know I can't overcome the long term house edge without a big win, so I don't waste my time on machines that can't make a big deposit into my bank.

Getting lucky isn't a strategy, but if you don't put yourself in position where you have the chance to be lucky you don't even have reason to hope. If you want to play slots for a living focus on slots with big jackpot possibilities.

Progressive Jackpots

The only way to truly play slots with an edge over the house is to play a progressive jackpot slot machine where the top prize has grown so high that it overcomes the edge. The problem with this is the same as I discussed earlier. If you don't know the house edge you can't determine how high the progressive jackpot has to climb before it makes the play profitable.

I recommend sticking with slots that have high jackpots, because it's the only way you have a chance to win enough that you can play slots for a living.

If you don't know the house edge, simply play the slots that have the highest jackpots. Most casinos, both online and off, have at least one slots game with a jackpot over $1,000,000.

If you can't find one with a jackpot over $1 million, look for the highest one you can find. A $500,000 jackpot win might not set you up financially for life, but it's enough to help out quite a bit.

Conclusion

Playing slots for a living is a dream of many gamblers. But the truth is that it's almost impossible to succeed. The house edge locks in a long term profit for the casinos, so very few people win.

You can use the tips and strategies on this page to give yourself the best chance to overcome the house edge, but if you want to gamble for a living your best bet is to stop playing slots and pick a different game.

Casino games with the highest payouts - The 405

Posted: 14 Jul 2019 12:00 AM PDT

For our readers taking part in the online casinos craze, we've put together a guide to casino games with the best payouts. If you're going to bet on the net then always play online casino games that have the highest payouts. Avoid playing games such as keno, big six, war and American roulette – these games have some of the worst payout percentages. Baccarat and blackjack are two of the lowest house advantage games to play. Craps offers advantage players true odds bets that pay "true odds" as their name suggests, meaning that they pay players even money and the house, or the casino has no advantage on these types of craps bets. However, craps offer all sorts of betting options, many of which have an extremely high house edge. Online slots are also wildly popular games you can play in the casino any they can have some pretty massive payouts. The only challenge with online slot machines is their average payouts are much lower than the average payouts of both blackjack and baccarat (both games are close to 50/50 odds).

Online Casino Games – Highest Payouts

In this guide we'll explain how to play a few of the best games to play with higher than average payouts. Online blackjack and baccarat are the easiest games to learn that give players a near-even chance of winning on each wager they place. Both casino games are favorites of advantage players because of their low house edge. However, beginners are also able to hold their own with these games because they're both rather easy to learn. Advantage players and beginner gamblers looking for online casinos that actually payout can find a good top 10 list on https://www.gamblerock.com/online-casinos/.

Blackjack (21)

Blackjack is the king of all casino games. The game is quite popular with players in North America, South America, Europe, South Africa, Australia and New Zealand. It's also a popular game in some Asian countries as well, however, in Asia, it's usually Baccarat who's king. The objective of blackjack is to beat the dealer's hand, have the dealer bust, or get a 21 on your first two cards (this is called "blackjack"). All three scenarios payout to the player. A natural blackjack, however, pays the player 3/2 on their bet. If the dealer's hand is higher than the player's hand or if the player busts (goes over 21), then they automatically lose their bet wagered on that hand. The game starts when the player places a bet in the betting box on the blackjack table. You place your chips into the box ($5,$10,$50 – it's up to you how much you wager) and the dealer then deals out the cards to all of the players at the table and to themselves as well. Each player is dealt one card to begin with and the dealer is also dealt one card (usually face down to begin with). The dealer continues by dealing each player a second card and dealing themselves a second card as well (again, usually face down). Then the dealer flips over their first card so it shows face up and you can see one of the dealer's cards while the other is not exposed. This card that you can not see is called the hole card. Next, the player will either hit, stay, split, or double down on their hand depending on what two cards they have and what the dealer's upcard is showing. Online blackjack has some of the highest payouts that you'll find and that's why it's our #1 pick for playing real money online gambling games.

Baccarat

Play baccarat is similar to blackjack in that they are both card games and both games have competing hand scores that you're betting on. However, with baccarat, you can gamble on either hand and place bets on the player's hand or the banker's hand. With blackjack, you can only bet on your hand (the player's hand). Also, in baccarat, the objective is to beat the other hand by getting as close to 9 as possible. A hand with a total value of zero is called Baccarat. Players from China, Macau, Hong Kong, Singapore, Japan and other Asian countries are usually huge fans of playing baccarat. For many, its the only game they play. There is no doubt that with Asian online casinos its Baccarat that reigns king of the table games.

Slot Machines

Well online slot machines might not have the highest payouts with regards to payout percentages because they are on average between 93-97%. On the other hand, online slots payout huge real money jackpots at random and for the lucky winner the payday can be far greater than anyone will ever earn playing blackjack or baccarat. So when you're playing online slot casino games you're betting on getting lucky and hitting a big win. If that happens then count your blessings and cash out immediately. Because the average slot payouts are so high it's almost guaranteed that you will lose it back if you continue playing on that machine. Make that your rule and stick to it when you're playing slot machines online or in your local casino. Remember, if you win a jackpot, cash out immediately!

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