Slot machines ('one-armed bandits')
Any foreigners here who enjoy this pastime? Where do you think the odds are best?
The house always wins in the end. I used to be on a responsible gambling team at an online casino, and you'd be shocked how many people get their lives wrecked by this, and in some cases even lose their lives.
Vegas has the best odds Here in the Philippines it's the worst I've ever experienced. Kind of expected it, honestly
It's a fool's game. The odds are stacked against you from the start. You might get lucky now and then. But in the long run, you can never win. Otherwise those machines wouldn't exist ๐คทโโ๏ธ
Invest in a broad stock market ETF. That's a winning game. Slot machines are a losing game. By a wide margin. Poker can be a winning game if you have the skill and play weaker opponents over the long run. That's the one exception among casino games, which are all losing games. The casino is built to win (by design). Everyone else loses.
Live in Nevada for 20+ years and you learn what a ripoff those machines are. Casinos have a payout percentage written on their license. Usually somewhere in the 90s. That means the game isn't random. If a machine is running random and starts dropping below its percentage, they adjust it to pay out more. If they want more money, they can lower the payout down to their licensed minimum. Sometimes they'll pick a single machine to pay out more and then lower the payout on the machines around it.
I have one at home. That's the only one where I stand a chance of winning
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