Casino game theories are developed using mathematical analysis of how players make decisions and can help developers maximize profits while limiting losses for players.
But why do savvy gamblers continue playing if casinos are designed to steal their money? The answer lies within an elementary concept known as Expected Value (EV).
Slot machine conspiracy that previous gameplay determines future payouts
One of the more pervasive casino conspiracy theories involves slot machines being “rigged” to pay out at specific times or to specific players, an assumption often fuelled by progressive jackpot games that offer huge sums of money and can be played across multiple casinos without following conventional casino regulations. Such progressive jackpots also fuel this speculation.
Schull has come across this theory many times from people playing slots to escape reality and unwind, believing they are being punished by an automated machine capable of sensing their “pain points” and adjusting odds accordingly.
Schull describes gambling theory as an approach to games of chance with two or more players and no skill involved. Video poker requires some strategy; it may not fit within game theory’s purview, though live poker would.
Progressive jackpots are rigged
Progressive jackpot slots differ from traditional fixed jackpot games by featuring prizes that dynamically change as players engage in the game, meaning their jackpots do not remain static and may reach millions of dollars. Depending on the game, jackpots may be standalone, hosted in-house, or networked with larger ones typically being hosted and networked by game developers themselves.
Jackpots are generated through a percentage of every coin or credit played on the machine, similar to how lottery works; every wager contributes toward building up the prize pool, so it takes quite some time before it reaches an acceptable size.
But, if a jackpot was fixed by either casino or manufacturer, it would be easy to prove this and launch massive class action lawsuits against them. Therefore, casinos do not rig games but instead rely on large prize appeal to draw customers in.
Dealers are prone to cheating
Though some casino dealers may be susceptible to cheating, large-scale casinos do not use their employees as tools of corruption. Furthermore, due to stringent surveillance and protocol measures in place for casino games, manipulating them becomes extremely difficult; additionally dealers don’t possess any special insight into who wins or loses games either.
Due to tips being an essential source of revenue for dealers, they have an incentive to help players win by counting cards together with them and cooperating on this method; however, security cameras may detect it as ineffective.
Cheating using a “top hat” device to hide chips after each dealer turn can also be effective, provided you’re smart enough not to be detected by others. Although not recommended in blackjack or roulette games, using such tactics against the law may still work.
Games of chance are rigged
Many people believe that casinos are rigged, with odds stacked against them from the outset. This may be because gambling games rely heavily on negative expectations; game designers understand this and create favorable odds to keep people playing their game.
Cognitive distortions, also known as flashing lights and loud noises, can influence players’ decisions to gamble (Griffiths 1993a).
Although these theories are unsubstantiated, some have some basis in fact. For instance, casinos could rig progressive jackpot games to ensure profitability; however this would likely be difficult to detect due to multiple players involved and no direct manipulation of odds possible – instead the casinos would need to alter underlying code instead – although this scenario is unlikely. Progressive jackpot games offer incredible amounts that often reach millions. This practice often sparks accusations of casinos being “rigged”, with accusations often leveled against progressive jackpot games as an example of misconduct by casinos.