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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

    Occupation:
    Pencil Pusher
    Location:
    Up$hitCreek
    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

    Occupation:
    I currently work for the Wizard of Odds
    Location:
    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

    Occupation:
    Scientist
    Location:
    Florida
    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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