Sucker bets | Arkansas Blog

Tuesday, February 10, 2009

Sucker bets

Posted By on Tue, Feb 10, 2009 at 10:19 AM

I just happened to receive the monthly report from the state Racing Commission on machine gambling at Oaklawn and Southland Parks. (They call them electronic games of skill. I say, more accurately, that they are gambling machines with slots for coins.)

Anyway, in January, Oaklawn paid about $17.1 million to gamblers on $18.08 million in wagering, or roughly a 94.5 percent payout. At Southland, betting was $34.8 million, payouts $32.8 million and the percentage (I used fuller numbers in both cases) about 94.3 cent.

Compare the looseness of the racino slots to our coming state lottery. On average nationally, a rough figure on payouts to wagers seems to be about 50 percent, with differences in some of the individual lottery games.

I guess it does take a certain amount of "skill" in arithmetic to understand which is a better bet


Sign up for the Daily Update email
Favorite

Comments

Subscribe to this thread:

Add a comment

More by Max Brantley

Readers also liked…

  • Arkansas Supreme Court refuses to rehear invalidation of marijuana act

    The Arkansas Supreme Court today denied a request to rehear its decision invalidating Issue 7, the medical marijuana initiated act.
    • Nov 3, 2016
  • Latest Obamacare repeal bill would hit Arkansas treasury hard

    The latest effort to undo Obamacare, the Graham-Cassidy legislation, would shift federal support for health coverage to a block grant system to the states. Bad news for Arkansas.
    • Sep 18, 2017
  • Trump immigration protest at LR: Quick and fierce

    It was not even 24 hours ago that Sophia Said, director of the Interfaith Center; City Director Kathy Webb and others decided to organize a protest today of Donald Trump's executive order that has left people from Muslim countries languishing in airports or unable to come to the US at all — people with visas, green cards,a  post-doc graduate student en route to Harvard, Google employees abroad, families. I got the message today before noon; others didn't find out until it was going on. But however folks found out, they turned out in huge numbers, more than thousand men, women and children, on the grounds of the state Capitol to listen to speakers from all faiths and many countries.
    • Jan 29, 2017

Most Viewed

Most Recent Comments

 

© 2018 Arkansas Times | 201 East Markham, Suite 200, Little Rock, AR 72201
Powered by Foundation