Im not sure what makes the $100 machines have more or less variance since the $100 machines at Rincon had the same games as the 25-cent machines. At the time there was 9/6 Jacks at $100 and 25-cents.
Im not sure what makes the $100 machines have more or less variance since the $100 machines at Rincon had the same games as the 25-cent machines. At the time there was 9/6 Jacks at $100 and 25-cents.
They have more variance simply because they are much higher denominations.
The Rincon doesn't care if a few people temporarily get lucky at 25c machines, because overall it's not very much money (they can absorb it), and there are enough 25c machines constantly running to where things will average back out and they will win back any temporary losses for the casino.
The $100 machines are a different story. If a disproportionate number of royals hit, it will cost Rincon a ton of money, and it will take awhile to make up what they lost. This is especially true because the $100 machines were only sporadically played. Casinos don't like this. They want predictable, slow, reliable winnings. Larger casinos/corporations will take a chance on higher limit gaming, knowing it's still +EV for them to do, and they have the deep pockets to take the risk. Rincon's ownership probably doesn't have very deep pockets, so they decided to kill the $100 machines. I don't blame them.
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Also, didn't the handpay requirement pretty much make a $100 machine unplayable?
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Dan how does denomination affect variance? How is the variance on a 25-cent 9/6 Jacks different from the variance on a $100 9/6 Jacks game?
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I think he's referring to the nightly bottom line for the shift/pit boss/floor manager. Casinos have a nightly win expectation and the pit boss is responsible for that bottom line and he there's a sudden $400,000 hit they have to explain it (which they could in this case), however there are all sorts of random changes to the nightly take, so the day to day pit bosses might want to limit those variances to the bottom line to preserve their jobs. The positive cash flow on a $100 vp machine on a daily basis is small to the overall daily take, but that twice a year $400,000 hit impacts the nightly take sheet ... especially if it happens on your shift.
I was a regular in the 15-30 holdem games at Wynn. And while I may not remember exactly when the games went in I was still there. I was usually in the casino from 11 AM to 7 or 8 PM. And the games were always taken in that time frame. Not that I was very interested in playing the FPDW anyway. I had a better hourly rate in the poker games.
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