{"id":61,"date":"2023-03-15T08:44:18","date_gmt":"2023-03-15T08:44:18","guid":{"rendered":"http:\/\/designsdaddydev.com\/sharpedgepicks\/?p=61"},"modified":"2023-03-18T06:20:11","modified_gmt":"2023-03-18T06:20:11","slug":"las-vegas-casinos-in-for-trouble","status":"publish","type":"post","link":"https:\/\/designsdaddydev.com\/sharpedgepicks\/las-vegas-casinos-in-for-trouble\/","title":{"rendered":"Las Vegas Casinos \u2013 In for TROUBLE!"},"content":{"rendered":"

In an attempt to re-write history and continue growing, Las Vegas casinos have decided to implement skill based games. \u00a0You can now\u00a0bet on your own skills in Frogger<\/a>. \u00a0 Applications are also underway\u00a0for full fledged licenses & games of skill.<\/a><\/p>\n

I understand WHY Las Vegas is doing this \u2013 millenials are NOT flocking to casinos and find slots boring \u2013 who wouldn\u2019t?!<\/p>\n

BUT, this attempt is trouble. \u00a0When Phil Ivey \u2018outsmarted\u2019 the casinos with Edge Sorting, they withheld the funds, sued, and won as the judge ruled casinos are for losers to lose their money. \u00a0 How does that work in a world with skill games? \u00a0If your skill is THE BEST, you WIN THE MONEY and the casino is expected TO PAY.<\/p>\n

The casinos think they\u2019ve run the numbers, and because they can beat 99.99% of people that\u2019s \u2018good enough\u2019. \u00a0The problem is, its the .01% that will FLOCK TO THESE GAMES, turning them into cash machines for the freakishly gifted \u2013 think the\u00a0equivalent of\u00a0Joey Chestnut to Hot Dog eating<\/a>. \u00a0No \u2018normal\u2019 person can eat 10 hotdogs in 10 mins, so the computers (GLI*) that \u2018assess\u2019 game result distribution could \u2018maybe\u2019 contemplate 20 hotdogs, 30 max\u2026. Joey can eat 70! \u00a0 The Joey Chestnut equivalent of Frogger, or any other skill based game, will CRUSH the casinos.<\/p>\n

When Las Vegas casinos inevitably lose on this endeavour and try to ban \u2018experts\u2019 for \u2018outskilling\u2019 them on GAMES OF SKILL, then what? \u00a0 More withholding of funds? \u00a0 Excuses? \u00a0 Its just bad math and logic and Las Vegas casinos will pay the price for it.<\/p>\n

*GLI is a company game designers pay to \u2018verify\u2019 that the math assumed is correct and that the casinos will make profit on the game. \u00a0 IF, the assumptions are incorrect, or the distribution is off**, there is the potential the game will lose money.<\/p>\n

**By distribution being off, I\u2019m referring to the existence of a Joey Chestnut equivalent for a skill based game and how often they play it. \u00a0 IF Joey Chestnut exists for a skill based game like Frogger and IF they played it 10 hrs per day, or half of the time, its tough to see how the machine could turn a profit for the casino.<\/p>\n","protected":false},"excerpt":{"rendered":"

In an attempt to re-write history and continue growing, Las Vegas casinos have decided to implement skill based games. \u00a0You can now\u00a0bet on your own skills in Frogger. \u00a0 Applications are also underway\u00a0for full fledged licenses & games of skill. I understand WHY Las Vegas is doing this \u2013 millenials are NOT flocking to casinos …<\/p>\n<\/div>","protected":false},"author":1,"featured_media":62,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4,5],"tags":[],"class_list":["post-61","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-betting-concepts","category-industry-trends"],"_links":{"self":[{"href":"https:\/\/designsdaddydev.com\/sharpedgepicks\/wp-json\/wp\/v2\/posts\/61","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/designsdaddydev.com\/sharpedgepicks\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/designsdaddydev.com\/sharpedgepicks\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/designsdaddydev.com\/sharpedgepicks\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/designsdaddydev.com\/sharpedgepicks\/wp-json\/wp\/v2\/comments?post=61"}],"version-history":[{"count":1,"href":"https:\/\/designsdaddydev.com\/sharpedgepicks\/wp-json\/wp\/v2\/posts\/61\/revisions"}],"predecessor-version":[{"id":63,"href":"https:\/\/designsdaddydev.com\/sharpedgepicks\/wp-json\/wp\/v2\/posts\/61\/revisions\/63"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/designsdaddydev.com\/sharpedgepicks\/wp-json\/wp\/v2\/media\/62"}],"wp:attachment":[{"href":"https:\/\/designsdaddydev.com\/sharpedgepicks\/wp-json\/wp\/v2\/media?parent=61"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/designsdaddydev.com\/sharpedgepicks\/wp-json\/wp\/v2\/categories?post=61"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/designsdaddydev.com\/sharpedgepicks\/wp-json\/wp\/v2\/tags?post=61"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}