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gambling scam on America's poor

Discussion in 'America the Beautiful' started by Mousey, May 3, 2007.

    May 3, 2007
  1. Mousey

    Mousey Ueber Meister Mouse CAG

    Pencil Pusher
    for the rest of the piece at the Christian Science MonitorYou must register/login in order to see the link.

    The math and 'logic' in this opinion piece confused the hell out of me. I'll be the first to admit that I am a far cry from a math whiz, but I used to think I was of near normal intelligence...

    What does this mean: "85 percent of their revenue comes from 20 percent of the players" ?

    One quote says:
    Yet earlier it was acknowledged that...

    I should never try to make sense of anything when I've got a 101 fever.... I'll take an aspirin and try reading it again later. Maybe it will make more sense....
    2 people like this.
  2. May 3, 2007
  3. SlotsWizard

    SlotsWizard Dormant account webmeister

    I currently work for the Wizard of Odds
    North of Antarctica
    Thank you for that post, Mousey.

    For simplicity, let's assume there are 100,000 players and the total revenue is the quoted $350 million. 85% of that revenue is $297.5 million, meaning that that $297.5 million comes from only 20,000 (20% of the 100,000) players, an average loss of $14,875 per player. The remaining $52.5 million comes from the other 80,000 players, which is an average loss of only $656.25 per player.
  4. May 5, 2007
  5. soflat

    soflat Senior Member

    That's pretty interesting. I've been wondering where all the money these new casinos make is coming from. It used to be such a novelty to go somewhere (Nevada or New Jersey) and gamble. Now it is almost everywhere.

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