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#1
01-24-2005, 08:02 PM
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Re: Tax Time: Are you a professional gambler?
I've heard that most lotteries are only paying out something like 20-40 cents for every dollar wagered. If these particular slot machines (since they appear to be run by the state, not a casino) paid out something similar, it would seem you would need at least a 2.5x normal jackpot size in order to get positive EV. From the article, it doesn't sound like she thought things through well enough.
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#2
01-26-2005, 04:57 PM
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Re: Tax Time: Are you a professional gambler?
I don't think the grocery store slot machines in Nevada are owned by the state. I believe that they are privately owned. However, I wouldn't be surprised if they have lousy payouts.
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#3
01-26-2005, 10:55 PM
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Re: Tax Time: Are you a professional gambler?
"I've heard that most lotteries are only paying out something like 20-40 cents for every dollar wagered. "
Lotteries? Most state laws I've seen (such as in PA) mandate around 45-53% of payouts for the big lottery pools. I don't know about scratch tickets. Or are you talking about some type of slot machine?
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