My second piece for Forbes.com is a look at what the math of slot machines means for the casino and the player:
Slot machines remain the most important money-making part of casinos in the United States. In many states, casinos make between 65 and 80 percent of their gambling income from slots. In Las Vegas, the percentage varies from 88 percent in casinos that cater primarily to locals to 50 percent on the Las Vegas Strip, where high rollers betting tens of thousands a dollar a hand skews the results in favor of table games. Every day, players put millions of dollars into slot machines. Why?
Read it all: How Casinos Use Math To Make Money When You Play The Slots
So far the reaction to my new writing home has been very positive. Thanks to everyone who made the jump to Forbes with me, and to all my new readers. And a big thanks to Bob Ambrose, who answered my questions very well.
In this week’s Green Felt Journal, I take a look at what changes might be afoot on casino floors across the country:
Since the recession, however, slot machines have lost ground to tables. Last year, tables statewide earned 35 percent of total gaming win. That doesn’t sound like a big shift—5 percentage points over just as many years—but the original shift in dominance from tables to slot machines was just as gradual.
via The Coming Social Gaming Revolution | Vegas Seven.
The point I wanted to make here is that we can’t assume that casinos ten years for now are going to look exactly like casinos today. It’s been a little more than a decade since widespread adoption of ticket in/ticket out and multi-denom machines changed slot gaming. I think that Dr. Andrade’s work raises all sorts of interesting questions about how people are going to play in the future.