Wednesday, October 19, 2011

Why Casinos use Biased Unbalanced Dice ...

If you want to understand why casinos use biased dice, just listen to Jim Kilby, who "... started as a dealer in 1969 and has held a variety of casino management positions. He was Boyd professor of gaming at the University of Nevada in Las Vegas for eight years and co-wrote "Casino Operations Management," a textbook considered a must-read by many in the business":
• "Rule No. 1: You shouldn't offer a game where you've got no casino advantage."  
• "Your job in management is to maximize profitability for the amount of real estate that you have to offer." 
• "You can actually increase the (house) advantage in slots. and players will not even know it." 
...One gambling adage holds that as soon as you walk in the door, the casino claims all the money in your pockets — you just happen to be holding it temporarily.
That's a bit overblown, perhaps, but Kilby leaves no doubt about a casino's aim. 
"What we often do in gaming is we look at revenue. That ain't the number," he says in a phone interview. "Your job (as a manager) is to maximize profit." 
Casinos don't "beat" players to make money, Kilby says; they "earn" it through the house advantage on every game from craps to slot machines.
Read more: Table games will yield to slots, casino expert says - Pittsburgh Tribune-Review

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