![]() ![]() Basically, it’s the long-term edge that is built into the game. Which means the law of supply and demand breaks down.Ĭasino operators usually think of price in terms of what is known as the average or expected house advantage on each bet placed by players. ![]() Slots may be even worse than the doctor’s office, in that most of us will never know the true price of our wagers. That is, other than visits to the doctor’s office and possibly the auto mechanic, we know the price of most products and services before we decide to pay for them. ![]() The Price of a SlotĪn important economic theory holds that when the price of something goes up, demand for it tends to fall.īut that depends on price transparency, which exists for most of the day-to-day purchases we make. What about slot machines makes them such reliable money makers? In part, it has something to do with casinos’ ability to hide their true price from even the savviest of gamblers. ![]()
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