Where does the money come from? (Slots big win)

Kemarit

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Quote from: seoincorporation on September 11, 2024, 11:33:42 PM

Let's say i have a casino, and i get a Pragmatic license, then a user plays Sweet Bonanza and wins x10,000 with a $20 bet, that would be a $200k win for the user.

Does the casino owner have to pay that amount? or the slot provider pay part of that win, because the slot provider offers an RTP and as a casino owner if the RTP is 95% it means the casino has won more than those $200k to pay for that bet, so, in other words, new casinos doesn't give big wins until the RTP is covered?

RTP is being set by the regulatory body, casino owners or slot providers can't just go and say I want to set the RTP to 95%. So it means that casinos should abide by this otherwise they could be subject to fines. So in your example, it should be the casinos that are going to pay for it.

Quote from: seoincorporation on September 11, 2024, 11:33:42 PM

We know the house only win, but that's for the long run, if the slot game gives a huge win in the first bets, then the casino would be running with red numbers. That's why i have these questions.

Yes, but still going to be based on numbers and averages. There could be one big winners in a night, but if you compute it to let's say a month, the casino could still be in the net green numbers because the "house always win".

Juse14

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Quote from: seoincorporation on September 11, 2024, 11:33:42 PM

Let's say i have a casino, and i get a Pragmatic license, then a user plays Sweet Bonanza and wins x10,000 with a $20 bet, that would be a $200k win for the user.

Does the casino owner have to pay that amount? or the slot provider pay part of that win, because the slot provider offers an RTP and as a casino owner if the RTP is 95% it means the casino has won more than those $200k to pay for that bet, so, in other words, new casinos doesn't give big wins until the RTP is covered?

We know the house only win, but that's for the long run, if the slot game gives a huge win in the first bets, then the casino would be running with red numbers. That's why i have these questions.

I don't really think about these things, just enjoy the game. On the other hand, it transpires that slots function more intricately than one might guess. If a player has a big win, the casino has to be able to pay that money out. The casino does not really lose at this point immediately, they lose on the expectation of the player in the long run.

An RTP of about 95% means that on a long-term basis $95 out of every $100 staked is returned to the player and $5 goes to the casino. So even with big wins, as you noted, the casino basically has theirs greater than those of other players over time. Pragmatic, as a slots provider, is responsible for the game design and implementation, but the payouts are still part of what comes from the casino.

Although the casino may take a short-run loss, the overall long-term result is that they are still ahead because slot games are not designed with this kind of player-by-player basis but to favor the house over time. This is why it is said that "the casino always wins."

crwth

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I never thought of this because the casino automatically gives it out. I don’t know why the game provider should do it, and I never thought of this question. That’s why casinos need to have bottomless pockets and storage or voting rights of money to pay users who are lucky enough to win that kind of amount.

Is there any reason you are pondering this OP, aside from the part where you let somebody win at the start, and then you are already negative? It’s not just a single game; there are multiple games for online casinos.

tread93

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Quote from: seoincorporation on September 11, 2024, 11:33:42 PM

Let's say i have a casino, and i get a Pragmatic license, then a user plays Sweet Bonanza and wins x10,000 with a $20 bet, that would be a $200k win for the user.

Does the casino owner have to pay that amount? or the slot provider pay part of that win, because the slot provider offers an RTP and as a casino owner if the RTP is 95% it means the casino has won more than those $200k to pay for that bet, so, in other words, new casinos doesn't give big wins until the RTP is covered?

We know the house only win, but that's for the long run, if the slot game gives a huge win in the first bets, then the casino would be running with red numbers. That's why i have these questions.

I think slots are a sure winner for any casino owner and surely one of the most addicting machines to play. It’s too easy to crank the lever and people stay for hours on end. I can’t imagine even if the owner has to pay x amount absurd fee that they aren’t making incredible money off this game.

Nrcewker

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Quote from: seoincorporation on September 11, 2024, 11:33:42 PM

Does the casino owner have to pay that amount? or the slot provider pay part of that win,

It doesn’t matter which game you are playing. Whether it is slot games, sports event betting, or traditional casino games, if you are playing it at a particular casino, then the winnings are funded from the bankroll of the casino only. Now I can understand your concerns about the new casinos. For this reason, it is always advised to start a casino when you have a big bankroll. Also, I have seen that a strict rule is followed to keep 1/10th of the total bankroll as the maximum winning amount. Hope this clears some of your doubts, OP.

pawanjain

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Quote from: seoincorporation on September 11, 2024, 11:33:42 PM

Let's say i have a casino, and i get a Pragmatic license, then a user plays Sweet Bonanza and wins x10,000 with a $20 bet, that would be a $200k win for the user.

Does the casino owner have to pay that amount? or the slot provider pay part of that win, because the slot provider offers an RTP and as a casino owner if the RTP is 95% it means the casino has won more than those $200k to pay for that bet, so, in other words, new casinos doesn't give big wins until the RTP is covered?

We know the house only win, but that's for the long run, if the slot game gives a huge win in the first bets, then the casino would be running with red numbers. That's why i have these questions.

It's the casino who pays the winning money. They pay it from their reserves or the initial capital they have set for their site.
In some cases, if there are multiple people winning big then the casino do have to face the burden of paying a hefty amount.
But otherwise, the casino earns more than enough to pay for such huge wins and still remains in profits as there are huge number of people who gamble regularly.

iv4n

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The money comes from all the rest of us who lose…

Jokes on a side... we have had similar threads before, and most of them are full of comments from people who don't even play slots and have no idea about it. I don't wish to be a wise ass here... Yahoo has already mentioned SirJohnSlotty, and here is one of the very good threads on this forum for anyone who wants to learn more about how casinos work:

AMA: I Operate an Online Casino - https://bitcointalksearch.org/topic/--5482508

And I would say this is the answer the OP is looking for:

Quote from: ?? on ??

4.) Is the casino the one paying win from 3rd party game providers?

#4. I didn't understand the question here completely, but if you're asking me who's paying for a win, the casino is always paying for it. There are some shared pools in some games where major jackpots are being divided, but those are rare. The casino is always the one that pays out the win.

I guess you can lock this topic now. :p

xLays

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This question has also come to my mind sometimes, but I didn't want to ask or post it here on bitcointalk because I thought I knew the answer. Right now I now have additional questions. Since all casinos offer the same slots and games, is the RTP of these slots the same across different platforms? Just for example, if the RTP of 'Gates of Olympus' on Shuffle.com is 96.5% (just as an example), should the RTP on Stake.com be the same? I didn't think that casinos had the ability to change the RTP.

Coin_trader

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Quote from: seoincorporation on September 11, 2024, 11:33:42 PM

Let's say i have a casino, and i get a Pragmatic license, then a user plays Sweet Bonanza and wins x10,000 with a $20 bet, that would be a $200k win for the user.

Does the casino owner have to pay that amount? or the slot provider pay part of that win, because the slot provider offers an RTP and as a casino owner if the RTP is 95% it means the casino has won more than those $200k to pay for that bet, so, in other words, new casinos doesn't give big wins until the RTP is covered?

We know the house only win, but that's for the long run, if the slot game gives a huge win in the first bets, then the casino would be running with red numbers. That's why i have these questions.

I think the answer here depends on the setup made by the casino and the provider. Some casino just add the slot then let the provider pay for all the profit. They just share on the profit made by the provider on their casino. Other casino do fully pay the amount and so on depending on the contract.

There’s some instances that provider doesn’t pay the player because they accuse the player of cheating but casino take full responsibility and pay it using their own money. Also Casino usually set a max win amount based on how much they are willing to pay that’s why max bet on slot games varies.

retreat

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Of course the casino as the owner will pay the reward for the jackpot, because it is their responsibility, not the responsibility of the game provider since they only provide the game. But you know that there is a saying "the casino always wins" even if you pay 200k USD to the winner, you will be able to get more money from the gamblers than the jackpot money you paid - in fact there are smarter casinos that deliberately exaggerate the information that they have paid the jackpot to the winner in the hope that it will further increase the enthusiasm of the gamblers to increase their gaming activities at the casino. And in the end the casino will get more profit from it.

zuzie

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Logically, the dealer always wins, but sometimes there are also gamblers who can win in the slot games they play and it is the responsibility of a dealer to give winning prizes to gamblers, whether in small or large amounts.
People who often play slots unknowingly give their money to the dealer and they are willing to lose their money when they often lose in playing.
However, if there is a dealer who cannot give rights to gamblers who have won, their gambling business will definitely have problems and of course many gamblers will not enter their platform because they no longer trust them.

gunhell16

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Quote from: seoincorporation on September 11, 2024, 11:33:42 PM

Let's say i have a casino, and i get a Pragmatic license, then a user plays Sweet Bonanza and wins x10,000 with a $20 bet, that would be a $200k win for the user.

Does the casino owner have to pay that amount? or the slot provider pay part of that win, because the slot provider offers an RTP and as a casino owner if the RTP is 95% it means the casino has won more than those $200k to pay for that bet, so, in other words, new casinos doesn't give big wins until the RTP is covered?

We know the house only win, but that's for the long run, if the slot game gives a huge win in the first bets, then the casino would be running with red numbers. That's why i have these questions.

When it comes to matters like that, I don't know anything; maybe I can only say that only the house edge really often converts money to gamblers who enter their casino platforms.

Then it also depends on a casino how reputed it is in the gambling business industry. It's also not possible that the house has no funds as far as I know, so according to OP's question, the house and game provider can split, but I'm not sure about this.

Dewi Aries

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Basically it is a very big win in a slot game, although it may happen but it will certainly be very rare, but if there is a gambler who manages to win then I think the one responsible for paying everything is the casino itself, the game provider only takes care of the system in the game and also regulates the RTP that will be provided, and as far as I know the game provider gets money from a contract agreement with the casino owner, meaning that wins and losses are the responsibility of the casino in any amount.

On the other hand, I think that no matter how big a win a gambler gets, it must have been calculated by the casino, or what I mean is that the casino has considered it first before providing such a big chance of winning.

rachael9385

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Quote from: seoincorporation on September 11, 2024, 11:33:42 PM

Let's say i have a casino, and i get a Pragmatic license, then a user plays Sweet Bonanza and wins x10,000 with a $20 bet, that would be a $200k win for the user.

Does the casino owner have to pay that amount? or the slot provider pay part of that win, because the slot provider offers an RTP and as a casino owner if the RTP is 95% it means the casino has won more than those $200k to pay for that bet, so, in other words, new casinos doesn't give big wins until the RTP is covered?

From my understanding, that casino is supposed to pay the gambler that won the money because they are the real owner of the casino, and since the casino is a business they have to pay the gambler so that there will be no trouble between the gambler and the casino.
If the casino is a new casino and do not have enough money to pay the winner, they can pay half of the money and sign an agreement with the gambler about the deadline to pay the reaming money.
However, if someone is just starting a casino business, the person need to have enough of funds, because even the first player might be able to win big money. Although most casinos have a maximum amount that gamblers can win so that they will not run at a bigger lose when gamblers begin to win big money.

YOSHIE

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Quote from: seoincorporation on September 11, 2024, 11:33:42 PM

We know the house only win, but that's for the long run, if the slot game gives a huge win in the first bets, then the casino would be running with red numbers. That's why i have these questions.

I also thought so, new online casinos if there are users who bet and win large amounts, where does their money come from to pay these users, I kept looking for information and finally I found the answer.

Casinos to get a license must go through the requirements below.

Quote

Legal considerations. No matter if you own an online casino business or a brick-and-mortar casino – both are allowed. Share capital requirements depend on the game type, ranging from €40,000 to €100,000.

Every new online casino, must be able to demonstrate as I quoted above, to licensing requirements.

Thus the capital/money available is based on the type of game, as I can see below.

Quote

For example, let’s take B2C type 1 and type 2 gaming licenses.

1. Type 1: Minimum – €15,000; Maximum – €375,000. A compliance contribution for the financial year is 1,25% for every euro of the first €3,000,000.
2. Type 2: Gaming services minimum is €25,000; Maximum – €600,000. The compliance contribution for the financial year is 4% for every euro of the first €3,000,000.

In this case, to open a new casino that is officially licensed, it must have basic capital, but quite a few casinos are emerging that avoid licensing, for reasons of large capital taxes, if someone wins big they will run away.

seoincorporation

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Quote from: Patikno on September 12, 2024, 07:58:03 AM

Yes, it's the casino owner who will pay for it, the slot provider only provides the infrastructure for the game, they even get paid for the services they offer to the casino owners. As far as I know, when a casino implements RTP, it means that the money from players will be returned to the players, so it is impossible for the provider to provide a winning amount that exceeds the pool collected from other players.

That's the point, RTP is not a house Edge, it is a Return to Player, so, for the provider to pay a $200k win, first the casino has to win that amount, which means the new casinos shouldn't pay big wins because they have to capitalize their self firs.

Thanks for all your answers now it's clear who pays to the player, it's the casino that does it.

TribalBob

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In my opinion, whatever the form of casino, whether new or old, if there is a player who wins a bet, the casino must pay it because that is their risk, but it is very rare for a new casino to get a large amount of winnings at the beginning of the casino opening.

Findingnemo

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Quote from: seoincorporation on September 11, 2024, 11:33:42 PM

Let's say i have a casino, and i get a Pragmatic license, then a user plays Sweet Bonanza and wins x10,000 with a $20 bet, that would be a $200k win for the user.

Does the casino owner have to pay that amount? or the slot provider pay part of that win, because the slot provider offers an RTP and as a casino owner if the RTP is 95% it means the casino has won more than those $200k to pay for that bet, so, in other words, new casinos doesn't give big wins until the RTP is covered?

We know the house only win, but that's for the long run, if the slot game gives a huge win in the first bets, then the casino would be running with red numbers. That's why i have these questions.

Funny, why would the service provider pay the money? they are entitled to offer only the games not anything to do with the rewards. And if someone is lucky enough to win such amount then casino has to pay it and that's why it's not a business that everyone can run cause you need to have huge pile of stack in your reserves to deal with these situations but ofcourse the chances of happening are less and you only get to make money in the long run but casinos don't want to run out of business that is why they have a maximum amount that an individual can win on a bet irrespective of the bet amount.

Patikno

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Quote from: seoincorporation on September 11, 2024, 11:33:42 PM

Does the casino owner have to pay that amount?

Yes, it's the casino owner who will pay for it, the slot provider only provides the infrastructure for the game, they even get paid for the services they offer to the casino owners. As far as I know, when a casino implements RTP, it means that the money from players will be returned to the players, so it is impossible for the provider to provide a winning amount that exceeds the pool collected from other players.

BABY SHOES

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I see from what the casino owner said that is outlined in the question here... in big wins it depends on whether the casino pays or the provider pays.

Maybe we can look at this one quote...

Quote from: ?? on ??

#1. Who pays when I win, is it the casino or the game provider?
A: It depends. If it's a solo game, then the casino pays. Like a slot game hosted on the casino, or a regular jackpot, or a regular live casino game. If it's a progressive or multi-game offer, then it's the game provider since several operators chip in to make that bucket huge. E.g. if you have a progressive jackpot of $12 Mill, that's not coming out of one casino, we all chipped in a bit to get to that number, and then if that win is triggered at "my casino", I don't pay a cent on it, it all goes from the game provider (who took it from 1000+ casinos). So it all depends on the system, game and deal the operator has with the game provider.

Topic: Where does the money come from? (Slots big win) (Read 350 times)