The real question is: How did Trump run a casino that went bankrupt?
Because it was used to launder money. And, bankrupting a business is actually a way to avoid taxes, especially when you regularly lie on your tax filings.
Also he's a terrible businessman and was using it as a personal piggybank, as he is wont to do with any business he runs.
Don't forget that his dad gave him an illegal gift by purchasing $3.5 million in chips never intending to use them or cash them back in.
Because he opened a second casino on the same strip, effectively competing for limited customers with his first casino, ensuring that both casinos failed. I'm serious. He really did that lol
For those missing the joke: slot jackpots usually have odds of winning of like 1:1000, so every thousandth person should win...
... if you don't understand probability. Games on a slot machine are mutually exclusive, so those odds apply to one independent game, not all games played as a whole
That makes it so obvious, thanks
Here's a secret casinos don't want you to know!
They can just say, "Nuh-uh, you didn't win." Then they don't have to pay you.
Casinos slot payouts are generally regulated by the state, but the ratio always favors the casinos.
The games are specifically and legally rigged so that casinos, over the long term, keep more money than they lose.
Yep, 92% of what is played is returned to players in Quebec for example, it's regulated by law and confirmed by independent firms. It's a bit lower in Ontario if I recall correctly. Illegal casinos in first Nation communities don't need to follow such regulations and some of them will play with the % along the day, even sometimes giving more than what is played to get people to spend more and then lowering the % so people continue to play more while expecting to win...
How many thousandths of a person does it take to operate a slot machine?
The real question is: How did Trump run a casino that went bankrupt?
Because it was used to launder money. And, bankrupting a business is actually a way to avoid taxes, especially when you regularly lie on your tax filings.
Also he's a terrible businessman and was using it as a personal piggybank, as he is wont to do with any business he runs.
Don't forget that his dad gave him an illegal gift by purchasing $3.5 million in chips never intending to use them or cash them back in.
Because he opened a second casino on the same strip, effectively competing for limited customers with his first casino, ensuring that both casinos failed. I'm serious. He really did that lol
For those missing the joke: slot jackpots usually have odds of winning of like 1:1000, so every thousandth person should win...
... if you don't understand probability. Games on a slot machine are mutually exclusive, so those odds apply to one independent game, not all games played as a whole
That makes it so obvious, thanks
Here's a secret casinos don't want you to know!
They can just say, "Nuh-uh, you didn't win." Then they don't have to pay you.
https://www.bbc.com/news/world-us-canada-40300062
Casinos slot payouts are generally regulated by the state, but the ratio always favors the casinos.
The games are specifically and legally rigged so that casinos, over the long term, keep more money than they lose.
Yep, 92% of what is played is returned to players in Quebec for example, it's regulated by law and confirmed by independent firms. It's a bit lower in Ontario if I recall correctly. Illegal casinos in first Nation communities don't need to follow such regulations and some of them will play with the % along the day, even sometimes giving more than what is played to get people to spend more and then lowering the % so people continue to play more while expecting to win...
How many thousandths of a person does it take to operate a slot machine?