WEBVTT - How Casinos Work 0:00:00.280 --> 0:00:02.920 Brought to you by the reinvented two thousand twelve Camray. 0:00:03.160 --> 0:00:07.560 It's ready. Are you welcome to Stuff You Should Know 0:00:08.160 --> 0:00:16.360 from House Stuff Works dot Com? Hey, and welcome to 0:00:16.400 --> 0:00:20.000 the podcast. I'm Josh Clark. There's Charles W. Chuck Bryant, 0:00:20.840 --> 0:00:24.680 and this is the Stuff you Should Know the podcast. Yes, 0:00:24.720 --> 0:00:30.040 it is Chuck Josh. Um. How's it going great? I'm 0:00:30.040 --> 0:00:34.040 excited about this one. Really? How you know my favorite 0:00:34.080 --> 0:00:36.960 casino or favorite Scores has everything? Casino? How we talked 0:00:36.960 --> 0:00:40.000 about this? No way, is it really? I think I 0:00:40.080 --> 0:00:42.440 used to say it was a close second to Good Fellas, 0:00:42.479 --> 0:00:44.400 but I believe this is edge. I watched it again 0:00:44.440 --> 0:00:47.000 the other day. Man, and I love Casino the movie. 0:00:47.920 --> 0:00:51.680 It might edge Goodfellas out. I can't believe you're saying that. 0:00:51.880 --> 0:00:54.160 But to each his own. We always say to me, 0:00:54.240 --> 0:00:56.680 it's like flip a coin. That mean Streets and Good 0:00:56.680 --> 0:01:00.720 Fellows just like either of those three, they're all different. 0:01:00.800 --> 0:01:05.680 I've not seen Main Streets, should I? Yeah, that was 0:01:05.680 --> 0:01:07.600 the first one he did with the Neros. Yeah, and 0:01:09.000 --> 0:01:14.240 Harvey Catel. Yeah, alright, casinos casinos. Well, now we've already 0:01:14.240 --> 0:01:16.679 talked about the movie. So are you still excited about 0:01:16.720 --> 0:01:21.000 this one, okay, because your favorite part out UM I 0:01:21.400 --> 0:01:27.200 read UM that casino winnings for June in Las in Vegas, Nevada, 0:01:27.480 --> 0:01:30.360 or in Nevada as a whole are We're up sixteen 0:01:30.400 --> 0:01:33.720 percent over last year, which is a good sign because 0:01:34.440 --> 0:01:38.800 one of the things that UM are pretty much recession 0:01:38.840 --> 0:01:45.480 proof are stocks in vice well vices basically like liquor 0:01:45.600 --> 0:01:51.280 company stock, tobacco company stock, and gambling company stock. By 0:01:51.280 --> 0:01:53.360 gambling company of course, I mean like a casino or 0:01:53.400 --> 0:01:56.880 something like that. But with the recession of two thousand eight, 0:01:57.320 --> 0:01:59.520 even those kind of stocks are taking a hit. It 0:01:59.560 --> 0:02:02.480 was that my to a bath. So in the midst 0:02:02.480 --> 0:02:04.720 of all this talk about like a double dip recession 0:02:04.880 --> 0:02:10.040 and the downgrade UM by Moody's UM to double a 0:02:10.160 --> 0:02:15.200 plus for government bonds, the fact that the the revenue 0:02:15.200 --> 0:02:19.880 in Nevada for gambling is up six is a good sign. Conversely, 0:02:20.120 --> 0:02:23.720 it's down like eight percent in Atlantic City. But that's 0:02:23.720 --> 0:02:26.679 the Atlantic City I see has struggled on and off 0:02:26.680 --> 0:02:29.799 over the years since like the beginning, right, I mean, 0:02:29.840 --> 0:02:34.639 even Trump took a bath there, yeah, and figuratively yes, 0:02:35.200 --> 0:02:38.680 So what I mean, You've been to plenty of casinos, right, 0:02:39.160 --> 0:02:41.720 you spend most of your time there? Not true? But 0:02:41.760 --> 0:02:46.040 I've been to Vegas a bunch. Just live in l A. 0:02:46.360 --> 0:02:48.919 You go more than Oh yeah, i'll bet your average 0:02:49.040 --> 0:02:52.880 Joe white because it's close. You can drive, work jobs there, 0:02:52.919 --> 0:02:56.280 film jobs and stuff. I've been to Vegas a few times, 0:02:56.360 --> 0:02:58.799 and I think those are the only casinos I've ever 0:02:58.840 --> 0:03:02.359 been to. I hate We're ones in Vegas. I hate Vegas, now, 0:03:02.680 --> 0:03:06.280 do you? Yeah? Man, I'm done. I like it. I 0:03:06.440 --> 0:03:08.680 like it if you go into Vegas with like a 0:03:08.760 --> 0:03:12.560 Vegas kind of mind set, Yeah, it's fun. I mean 0:03:12.600 --> 0:03:16.720 I wouldn't ever spend like my yearly vacation there, right, 0:03:17.000 --> 0:03:19.080 but I mean a few days in Vegas that's pretty cool. 0:03:19.440 --> 0:03:22.480 I like it. I'm not a big gambler though, either, 0:03:22.560 --> 0:03:25.240 so I don't go there, and like there's not a 0:03:25.320 --> 0:03:26.960 chance that I'm going to come out of there, like 0:03:27.040 --> 0:03:29.480 my life is ruined. See. I love to gamble, but 0:03:29.520 --> 0:03:31.320 I don't do I do too, but I'm not a 0:03:31.320 --> 0:03:34.119 big game Like I can walk away at any time. Yeah, 0:03:34.280 --> 0:03:35.960 I just enjoy it, but I don't do it. So 0:03:36.000 --> 0:03:37.680 it's weird to say that I love gambling. What's your 0:03:37.760 --> 0:03:40.840 what's your game? Oh, you know black jack sports book. 0:03:40.840 --> 0:03:42.320 I think I told you before on the show that 0:03:42.760 --> 0:03:44.840 I usually go into the sports book and throw down 0:03:44.880 --> 0:03:47.200 some bets, and depending how I do on those, I'll 0:03:47.240 --> 0:03:50.880 gamble with that money. Gotcha at the table. Gotcha? It's fun. Okay, 0:03:50.960 --> 0:03:53.080 I'm gonna have to try that next time because I 0:03:53.200 --> 0:03:55.120 usually just walk up to the rue light table and go, 0:03:55.320 --> 0:03:58.320 here's some money I lost, here's a little more. I've 0:03:58.400 --> 0:04:00.240 never lost money faster in my life in at a 0:04:00.280 --> 0:04:03.880 roulette table. Yeah, it's pretty fast. When it hits, it 0:04:04.040 --> 0:04:06.600 is the thrilling it is. That's what they count on. 0:04:07.200 --> 0:04:12.880 So um chuck. You know casinos, Well, gambling itself is 0:04:13.320 --> 0:04:18.120 pretty ancient. The grabster who wrote this article and included 0:04:18.160 --> 0:04:21.400 a Monty Python reference, did you catch it? I don't 0:04:21.440 --> 0:04:25.960 know if I did. He mentions the Italian Inquisition. The 0:04:26.520 --> 0:04:31.480 noble people expected the Italian Inquisition and we're never caught gambling. Um. 0:04:31.600 --> 0:04:37.719 But there there's been uh dice found in prehistoric sites. 0:04:38.040 --> 0:04:42.120 There's something called ostro Gali and their carved knuckle bones 0:04:42.160 --> 0:04:45.400 that were that were the predecessors of dice. They look 0:04:45.480 --> 0:04:48.960 kind like molars, yeah, a little bit. And then after 0:04:49.080 --> 0:04:54.120 that we're actual primitive suxcited die dice. That's right. And 0:04:54.200 --> 0:04:56.920 so we've been gambling. We've been shooting craps at least 0:04:56.960 --> 0:05:01.080 for eons, both at the very least from millenn um. 0:05:01.120 --> 0:05:06.479 But casinos or places where you go to gamble didn't 0:05:06.520 --> 0:05:09.680 really come about until I think about the fifteenth or 0:05:09.760 --> 0:05:15.280 sixteenth century, and Venice was actually the birthplace of the casino, 0:05:15.560 --> 0:05:18.800 of the gambling hall. I love it. It's Italian, yeah, 0:05:19.120 --> 0:05:22.960 it's uh. Initially there were these aristocrats in Italy would 0:05:23.000 --> 0:05:28.159 have these private parties at places called and at the Ridotti. 0:05:28.800 --> 0:05:32.359 It was a private club for rich folks, but it 0:05:32.440 --> 0:05:35.680 was basically a gambling club because that's what went on there, right, 0:05:35.720 --> 0:05:38.680 And this is where the the Monty Python reference comes in, 0:05:38.760 --> 0:05:42.080 where that it was it was illegal. Yeah, you weren't 0:05:42.080 --> 0:05:46.800 allowed to gamble, but the aristocrats knew when to expect 0:05:46.880 --> 0:05:50.120 the Italian Inquisition and they didn't do a lot of 0:05:50.520 --> 0:05:53.960 inquiring from what I understand to write, so um, but 0:05:54.880 --> 0:05:59.600 it was known that like this is outlawed. But the um, 0:05:59.640 --> 0:06:03.159 I guess the fathers of Venice figured out that the 0:06:03.240 --> 0:06:05.920 people who were running the show there, we're making a 0:06:05.920 --> 0:06:10.320 ton of cash right, Oh yeah, uh, and if they 0:06:10.360 --> 0:06:15.320 set up their own ridotto, right, they could make their 0:06:15.400 --> 0:06:17.880 make that cash themselves. So they did. They set up 0:06:17.960 --> 0:06:22.120 what was called the Ridotto, and the capital r that 0:06:22.320 --> 0:06:25.479 it was a four story gambling house where they took 0:06:25.520 --> 0:06:28.080 all these different games and just put them under one roof. 0:06:28.240 --> 0:06:31.320 It was a casino. It was the first casino. Yeah yeah. 0:06:31.360 --> 0:06:34.040 And they they even did things like give you food 0:06:34.120 --> 0:06:37.080 and beverages and keep you happy, and like you said, 0:06:37.160 --> 0:06:40.960 ran a variety of games. And uh, the grabs are 0:06:41.000 --> 0:06:42.479 points out. This is a big deal for a couple 0:06:42.480 --> 0:06:46.240 of reasons. A. It's a government sanctioned gambling house the 0:06:46.279 --> 0:06:49.320 first time, and it's open to the general public. You 0:06:49.360 --> 0:06:52.159 can just go down to the ridotto throw down some cash. 0:06:52.200 --> 0:06:55.200 You don't have to be an aristocrat or a noble person. Nope, 0:06:55.560 --> 0:06:59.640 you just go ahead and lay your money down. That's right. 0:06:59.680 --> 0:07:02.680 And that the word casino is obviously Italian, right, but 0:07:02.720 --> 0:07:05.400 that that was different. So that was that Venice opened 0:07:05.400 --> 0:07:09.320 the Rodotto. It didn't last forever, no no um. Eventually 0:07:09.400 --> 0:07:13.800 they tied of a public moral opinion turned against it, 0:07:13.840 --> 0:07:17.960 which happens a lot to gambling. Um. And the Rodotto 0:07:18.040 --> 0:07:21.600 was shut down, So the the aristocrats went back to 0:07:21.680 --> 0:07:25.720 it again and went and uh started gambling again at 0:07:25.760 --> 0:07:28.760 what we're called casinos, which are small little clubs. Right, Yeah, 0:07:28.800 --> 0:07:31.200 that's what it means. The casino is a small little club. 0:07:31.760 --> 0:07:34.000 And then they added gambling to it, and then hence 0:07:34.120 --> 0:07:37.360 the name that we know and love today, the casino. Yeah. 0:07:37.400 --> 0:07:40.080 So the ridotto was broken up into smaller casinos and 0:07:40.160 --> 0:07:45.320 they were uh pretty popular and flourished. Yeah. So, um, 0:07:45.400 --> 0:07:49.720 that idea was exported from from Italy or there were 0:07:49.720 --> 0:07:53.320 other places where it just kind of came up on 0:07:53.400 --> 0:07:55.760 its own, but Italy, for the most part, is known 0:07:55.800 --> 0:07:58.320 as the birthplace of the casino. France was big and 0:07:58.680 --> 0:08:00.520 France is known as the birthplace. So most of the 0:08:00.560 --> 0:08:04.040 casino games that we play today. Roulette means little wheel 0:08:04.120 --> 0:08:08.760 in French. Uh, Bakara means Bert baker rat and um 0:08:08.880 --> 0:08:12.360 and uh in burt backreck in French it means crystal. 0:08:12.600 --> 0:08:15.760 That's not true. Uh and what else is there? Black 0:08:15.880 --> 0:08:22.240 Jack means twenty one, I believe in French. Oh yeah, wow, 0:08:22.400 --> 0:08:24.640 didn't know that. So basically, the French invented a lot 0:08:24.680 --> 0:08:27.800 of games because they loved to gamble. They did and 0:08:27.840 --> 0:08:31.440 so did the United States. Early on the eighteen hundreds 0:08:31.440 --> 0:08:34.480 in the wild West, there were gambling riverboats on the Mississippi, 0:08:35.600 --> 0:08:38.880 poker games and card games for money. And then uh, 0:08:39.160 --> 0:08:42.240 kind of like with prohibition, the moral conservatism kind of 0:08:42.280 --> 0:08:46.200 came on and uh stemmed the tide of gambling for 0:08:46.240 --> 0:08:51.280 a while up until the Hoover Dam and Nevada kind 0:08:51.280 --> 0:08:53.000 of really put it back on the map again. Yeah, 0:08:53.040 --> 0:08:56.679 so legalized gambling. I'm there was a huge, huge anti 0:08:56.760 --> 0:09:02.440 gambling wave in like nineteen by sically the first decade 0:09:02.480 --> 0:09:05.440 and a half of the twentieth century, and it almost 0:09:05.520 --> 0:09:08.679 wiped out horse racing entirely. Like they were like two 0:09:09.400 --> 0:09:13.400 horse racing tracks at like in n in the US, 0:09:13.440 --> 0:09:15.640 and it went down to like twenty five and like 0:09:15.640 --> 0:09:20.720 like thirty years. Um, so that same wave basically broke 0:09:20.800 --> 0:09:24.320 up all gambling until yeah, like you say, Nevada said, 0:09:24.559 --> 0:09:26.760 you know what, we're gonna buck the trend because there's 0:09:26.800 --> 0:09:28.840 not a lot going on here in Nevada. But we 0:09:28.920 --> 0:09:31.679 do have a new dam. We're gonna call it Hoover 0:09:31.760 --> 0:09:34.160 Dam eventually, but for now, let's call it Bowler Damn 0:09:35.000 --> 0:09:37.280 got into coming and seeing it still do. Yeah, it's 0:09:37.280 --> 0:09:39.079 I mean it is a marvel still to this day. 0:09:39.120 --> 0:09:43.000 It's a marvel of engineering. It's it's uh, it's it's 0:09:43.040 --> 0:09:46.960 the pinnacle of humans contempt for nature. You know, Oh, 0:09:47.080 --> 0:09:50.199 you want to flow as a river, we tell you 0:09:50.240 --> 0:09:53.120 when to flow. You're gonna generate power for us and 0:09:53.520 --> 0:09:56.600 exactly so. Um. From the get go Boulder Damn. Now, 0:09:56.640 --> 0:09:59.959 Hoover dam was a tourist attraction, and Nevada said, why 0:10:00.080 --> 0:10:05.680 not get some money off of these pork pies from Iowa. Um, 0:10:05.679 --> 0:10:10.000 while they come, let's let them gamble. And that what happened. 0:10:10.080 --> 0:10:13.320 And gambling and casinos had already been started. Bugsy Segull 0:10:13.400 --> 0:10:17.239 did not start that, but he and Mayer Landski, famous gangsters, 0:10:17.320 --> 0:10:20.520 did have a large hand and expanding the casino scene 0:10:20.559 --> 0:10:25.880 famously with the Flamingo Hotel and casino in And that 0:10:25.960 --> 0:10:28.680 was a good movie too. That was a great movie. Uh. 0:10:28.760 --> 0:10:31.920 And today I think this number is still right nineteen 0:10:31.920 --> 0:10:35.000 at the largest hotels by room number are on the 0:10:35.080 --> 0:10:39.719 Las Vegas trip, the largest in the world, largest in 0:10:39.720 --> 0:10:42.640 the world. Yeah, I can believe that they're huge. And 0:10:42.640 --> 0:10:46.360 that's just they're still gambling downtown too. They're a Fremont 0:10:46.360 --> 0:10:48.360 if you really want the real Las Vegas. Yeah, so 0:10:48.400 --> 0:10:52.120 that's how that's how it started. They were downtown gambling houses. Um. 0:10:52.200 --> 0:10:55.560 And then they figured out that if they if you, uh, 0:10:56.040 --> 0:10:58.120 you gotta break some egs to make an omelet. So 0:10:58.200 --> 0:11:03.240 they spent some money to make tons of money tons yeah. Um. 0:11:03.320 --> 0:11:07.560 And they also, in a very unusual kind of agreement, 0:11:07.679 --> 0:11:12.120 these uh, these early strip makers uh said you know what, 0:11:12.200 --> 0:11:15.320 we're all gonna go into this together. Sure, it's more competition, 0:11:15.600 --> 0:11:18.880 but if we're concentrated, we make this a destination. Not 0:11:18.920 --> 0:11:22.400 only is Nevada a destination for gambling, but this specific 0:11:22.480 --> 0:11:25.840 spot in Nevada is the destination for gamblings and it 0:11:25.880 --> 0:11:30.800 paid off like in aces. Hey. Yeah, and since we're 0:11:30.840 --> 0:11:33.800 on gangsters, uh, the mafia had a lot to do 0:11:33.880 --> 0:11:36.520 with the Las Vegas casino operation for a long time 0:11:37.000 --> 0:11:40.160 until they eventually money kind of went out and real 0:11:40.280 --> 0:11:42.840 estate developers had more money than the mob said, you 0:11:42.840 --> 0:11:44.400 know what, we need to clean this up and make 0:11:44.400 --> 0:11:49.040 it legit and buy you out, essentially, And because I 0:11:49.120 --> 0:11:51.560 understand it, it's mafia doesn't have anything to do with 0:11:51.600 --> 0:11:54.440 it these days because it's just too big of a risk. Yeah, 0:11:54.520 --> 0:11:57.199 and their money is not needed for a while they're there. 0:11:57.400 --> 0:11:59.839 They had the money, and they also had the willing 0:12:00.120 --> 0:12:02.199 to One of the reasons the mob got into Vegas 0:12:02.679 --> 0:12:07.040 was because the rest of the country saw Vegas as 0:12:07.160 --> 0:12:10.400 since city. It's a it's a place of ill repute. 0:12:10.840 --> 0:12:14.400 Gambling is is sinful, and we're morally opposed to it. 0:12:14.480 --> 0:12:18.319 So I don't want my customers at my bank to 0:12:18.320 --> 0:12:21.400 to withdraw their money something. They can invest in your casino. 0:12:21.880 --> 0:12:25.240 But then Mayer Landski or um. So there's other ways 0:12:25.240 --> 0:12:27.880 of getting money, right, he said, you know what, I've 0:12:27.880 --> 0:12:32.719 got no problem with this. Here's some money. Uh, the teamsters, Uh, 0:12:32.800 --> 0:12:36.400 we're heavily invested in in Vegas. But yeah, but then 0:12:36.440 --> 0:12:39.280 Trump was like, I got way more money than you guys. Yeah, 0:12:39.320 --> 0:12:42.480 and that's why. One reason Vegas was was sin city 0:12:42.559 --> 0:12:44.600 for a long time, and you can still get into 0:12:44.600 --> 0:12:48.680 some trouble there. But since the nineties it has become 0:12:48.720 --> 0:12:52.040 a much more of a family destination. It's stilling to 0:12:52.120 --> 0:12:54.719 swing back the other way a little more. I hear 0:12:54.720 --> 0:12:56.920 they're trying to do that. Some casinos are opening up 0:12:56.920 --> 0:12:59.440 with like rules against kids, and oh yeah, plenty of 0:12:59.440 --> 0:13:02.200 them have. Yeah, it's like get your kid out of here. 0:13:02.559 --> 0:13:07.199 This is a ca and with like nothing but kids, 0:13:07.200 --> 0:13:11.240 Treasure Island, all those places. Yeah and so, and we 0:13:11.240 --> 0:13:13.160 should say, chuck that we just gave like the history 0:13:13.160 --> 0:13:15.920 of Vegas, and Vegas is obviously like the crown jewel 0:13:16.080 --> 0:13:20.680 of the gambling world around the world. But there's also 0:13:20.760 --> 0:13:27.240 other like just world class casinos like Monaco Monte Carlo, 0:13:27.880 --> 0:13:31.840 a city in Monaco, um which is a principality built 0:13:31.880 --> 0:13:39.400 exclusively on gambling money. Um. Yeah, there's Macau is off 0:13:39.440 --> 0:13:43.080 the coast of Hong Kong. That's like gambling paradise. Now. 0:13:43.840 --> 0:13:49.920 Um there's where else is there riverboat Indian reservations. Yeah, 0:13:50.280 --> 0:13:53.760 so it's uh, we didn't mean to neglect to anybody, 0:13:53.760 --> 0:13:55.560 I guess, that is what I'm saying. And the you 0:13:55.559 --> 0:13:59.280 know that four story gambling house, the ridotto um that 0:14:00.080 --> 0:14:03.719 has translated very very well. In Japan, they have things 0:14:03.760 --> 0:14:07.240 that are called pachinko parlors, which are usually multi story 0:14:07.480 --> 0:14:11.240 um outfits where you just is it all pachinko. The 0:14:11.280 --> 0:14:14.480 first floor is usually all pachinko. And it's also like 0:14:14.520 --> 0:14:16.360 you you you can go in there and play all 0:14:16.440 --> 0:14:18.480 day and no one will know because you can't see 0:14:18.520 --> 0:14:22.120 through the cigarette smoke in there. It is crazy, bet. Yeah, 0:14:22.200 --> 0:14:24.480 they smoke a lot over there. So there's gambling all 0:14:24.520 --> 0:14:26.840 over the world. Where aware of that? Yeah, I got 0:14:26.880 --> 0:14:30.080 some stats, some gaming stats. Uh. In two thousand nine, 0:14:30.240 --> 0:14:34.080 seventy of US adults placed a wager of some kind, uh, 0:14:34.240 --> 0:14:39.480 to the tune of nine hundred billion dollars at casinos, racetracks, lottery, 0:14:40.280 --> 0:14:43.480 and then like poker games and dog tracks and OTV 0:14:43.600 --> 0:14:46.880 places and stuff like that. But um, I think of 0:14:46.920 --> 0:14:51.160 that gross gaming revenue was eighty point five billion, and 0:14:51.280 --> 0:14:55.440 about fifty seven billion of that was casino based, whether 0:14:55.600 --> 0:15:03.320 land or riverboat casino knows. Thirty thirty billion, twenty six 0:15:03.400 --> 0:15:05.280 of that was from tribal casinos and the other thirty 0:15:05.360 --> 0:15:07.920 was from just standard casinos. That's definitely up from when 0:15:07.920 --> 0:15:09.920 this article was written, because it was twenty two point 0:15:10.000 --> 0:15:13.480 six two billion in two thousand five for Native American 0:15:13.520 --> 0:15:18.400 casinos and thirty one point eight five billion for everything 0:15:18.400 --> 0:15:23.680 else in the US. Yeah, that's significant. Yeah. Yeah, it's 0:15:23.720 --> 0:15:28.160 forty one states. Forty one states have casinos or allow casinos. 0:15:28.160 --> 0:15:30.640 George is not one of them. No, but George allows 0:15:30.640 --> 0:15:34.280 gambling in the form of lottery. Yes, and every video poker. Yeah, everything, 0:15:34.320 --> 0:15:37.720 But Hawaii and Utah allow some form of wagering, right, 0:15:37.760 --> 0:15:41.520 I wonder what Hawaii steals. I don't know. Utah makes sense, 0:15:42.040 --> 0:15:45.040 but yeah, totally, But I have no idea what Hawai's 0:15:45.080 --> 0:15:47.000 Maybe they're just like, yeah, we don't need that. Yeah, 0:15:47.120 --> 0:15:50.160 I'll find out. We're surfing eating spam, right exactly, it's 0:15:50.240 --> 0:15:55.840 a spam cation. Sure. Uh So, Chuck, why is there 0:15:55.920 --> 0:15:59.760 so much money in gambling if it's all games of chance? Yeah? 0:16:00.040 --> 0:16:03.640 Why is there so much money in owning a casino? 0:16:03.760 --> 0:16:06.760 You know why, Josh? Why? Because every single game a 0:16:06.800 --> 0:16:12.920 casino offers has a statistical edge built in for the casino. Otherwise, 0:16:13.000 --> 0:16:16.320 that's how they make their dough. That is, h's your 0:16:16.320 --> 0:16:21.080 fact that these are not everyone. I didn't know that. Well. 0:16:21.120 --> 0:16:24.200 It ranges from I think about the lowest you can 0:16:24.240 --> 0:16:28.920 get as Baker raw at about one one point six percent, 0:16:29.360 --> 0:16:31.080 that it can go as low as uh I think 0:16:31.120 --> 0:16:34.520 point seven point six something is the casino advantage all 0:16:34.520 --> 0:16:36.920 the way up to the sucker's bet of all time, 0:16:37.480 --> 0:16:40.200 which is the slot machine, which gives a casino a 0:16:41.320 --> 0:16:44.320 edge on average. And the reason it stops at is 0:16:44.360 --> 0:16:48.520 because by law, most most states say, if you're gonna 0:16:48.520 --> 0:16:51.720 have slots or video pok or whatever, since it's computer 0:16:51.840 --> 0:16:55.400 operated randomly making a quotes, you have to set it 0:16:55.480 --> 0:16:58.920 so that there's of the time they have a chance 0:16:58.960 --> 0:17:02.160 of winning, the time you're playing that you have no 0:17:02.280 --> 0:17:04.520 chance of winning. Yeah, and they'll they'll change the slot. 0:17:04.600 --> 0:17:07.000 Some casinos will say, like our slots payout eight or 0:17:07.040 --> 0:17:09.720 nine to try and get you in there. But that 0:17:09.840 --> 0:17:12.720 is where the casino makes seventy of their revenue is 0:17:12.800 --> 0:17:19.399 from from slots, nicol slots, quarter slots, whatever, whatever. Slots. Um, 0:17:19.560 --> 0:17:22.680 there's uh are we talking about games? Yeah, let's get 0:17:22.680 --> 0:17:24.760 into it. So, yeah, if you go to a casino, 0:17:24.800 --> 0:17:27.720 there's obviously going to be slots in there, absolutely everywhere. 0:17:28.119 --> 0:17:30.000 I've never been a big slot guy. It's just over 0:17:30.040 --> 0:17:32.960 too fast. It's not too much to it. It is 0:17:33.000 --> 0:17:36.280 a little boring. Um, I like black jack, black checks 0:17:36.280 --> 0:17:40.000 a lot of fun. I played black check in Paris 0:17:40.240 --> 0:17:42.840 in Vegas and it was like the middle of the 0:17:42.920 --> 0:17:45.000 day and my brother in law and I were the 0:17:45.000 --> 0:17:48.359 only ones at the table, and um, I was like 0:17:48.440 --> 0:17:50.639 hit me, and the guy hit me, and I was 0:17:50.680 --> 0:17:53.080 like hit me again, and the dealer went and just 0:17:53.080 --> 0:17:55.440 shook his head. I've had them do that too, and 0:17:55.840 --> 0:17:58.560 it was like you don't want to hit? Yeah, And 0:17:58.600 --> 0:18:01.480 I'm sure the pit boss is like, you know, he's 0:18:01.480 --> 0:18:03.119 got X number of times he can do that in 0:18:03.160 --> 0:18:05.040 a day or whatever. But yeah, I thought it was 0:18:05.160 --> 0:18:08.359 very nice. I ended up spending more money. I'm sure, Well, 0:18:08.400 --> 0:18:10.680 that's exactly why you did it. They want to keep 0:18:10.680 --> 0:18:13.679 your button that chair, and sometimes they might allow the 0:18:13.720 --> 0:18:17.159 dealer to say, like, are you certain, sir, Wait a minute, 0:18:18.440 --> 0:18:21.119 he didn't do it to be nice. He may have 0:18:21.160 --> 0:18:23.080 been being nice. He was definitely being nice. But yes, 0:18:23.119 --> 0:18:25.240 I'm sure constructed. I don't know. Yeah, I don't know 0:18:25.240 --> 0:18:26.639 how it works on the inside, but yeah, I was 0:18:26.800 --> 0:18:29.480 I was told I was told not to. He said 0:18:29.480 --> 0:18:32.960 no when I told him, right, And uh yeah, I 0:18:33.000 --> 0:18:35.840 came out a little bit on top. I think. So Blackjack, Josh, 0:18:35.880 --> 0:18:38.480 you got about a two percent house edge. Not bad 0:18:38.920 --> 0:18:41.840 as far as gambling goes. Um And if you play 0:18:41.840 --> 0:18:45.560 by the statistical strategy that they say you should play by, 0:18:45.640 --> 0:18:48.879 there are rules like if you follow this, then chances 0:18:48.920 --> 0:18:51.800 are you could win some money. But people, what happens 0:18:51.920 --> 0:18:53.960 is you get caught up. You like hit when you shouldn't. 0:18:54.000 --> 0:18:55.760 You lay down more money to try and make up 0:18:55.800 --> 0:18:57.800 for what you've lost, and that's when they take you. 0:18:58.560 --> 0:19:01.760 Or you can count cards, and you can count cards, 0:19:01.840 --> 0:19:03.440 which is legal. If you go to m I T. 0:19:04.520 --> 0:19:07.080 They'll teach you to count cards, right Andy, that movie 0:19:07.160 --> 0:19:09.840 was about, Yeah, the M I T. Black Jack Team, Um, 0:19:10.119 --> 0:19:12.560 the movie twenty one. If you count cards then and 0:19:12.640 --> 0:19:15.960 they figure out that you're counting cards, are gone. Like, 0:19:16.000 --> 0:19:17.760 I don't think they can break your hand, but you're 0:19:17.800 --> 0:19:20.879 out of the casino for sure. They can do a 0:19:20.880 --> 0:19:23.399 lot of things up until that point to make it harder. 0:19:23.880 --> 0:19:26.399 But I think if they they verify that and they 0:19:26.480 --> 0:19:28.480 know that you're counting cards, I think they can't ask 0:19:28.520 --> 0:19:31.360 you to leave, even though it is not against the law. No, 0:19:31.440 --> 0:19:35.159 but a casino has rules against the exactly. Yeah, all right, 0:19:35.200 --> 0:19:38.200 so that's blackjack. I gotta get come closer to twenty 0:19:38.200 --> 0:19:40.560 one without going over Oh yeah did we say that? Yeah? 0:19:40.640 --> 0:19:42.840 And we we're not gonna there's we're not gonna break 0:19:42.880 --> 0:19:46.720 down each of these games. So specifically, these could have 0:19:46.800 --> 0:19:50.280 their own podcast. Exactly. They won't, but they could. So 0:19:50.359 --> 0:19:53.400 that's that's that. Slots, by the way, they are spam slots. 0:19:54.240 --> 0:19:57.960 H Yeah, that's cool. That's what we need, is that 0:19:58.040 --> 0:20:00.239 we need a stuff. You should know, slot machine. Well, 0:20:00.280 --> 0:20:03.600 they're all kinds of crazy themes. But then realized how 0:20:03.640 --> 0:20:05.880 much we would have arrived if we had our own 0:20:05.920 --> 0:20:09.440 slot machines. We go broke playing them. I bet we 0:20:09.480 --> 0:20:13.600 could make that happen. I don't know about that. No, okay, 0:20:13.840 --> 0:20:16.480 so you got boogie Nights, Oh yeah, just all sorts 0:20:16.480 --> 0:20:18.640 of crazy themes. And recently it was in the news 0:20:18.680 --> 0:20:22.840 because they're Happy Days machines, and everyone but Fonzi and 0:20:23.000 --> 0:20:27.240 Ritchie sued because they're like, dude, we're not getting seeing 0:20:27.280 --> 0:20:29.200 any money from these slot machines that all my friends 0:20:29.200 --> 0:20:31.240 are telling me that our faces are on. That's what 0:20:31.320 --> 0:20:34.159 Happy Days sued for. I thought it was like DVDs. No, no, no, 0:20:34.200 --> 0:20:36.800 it's all sorts of back payment that they they're not getting. 0:20:36.800 --> 0:20:40.119 But the slots is what tipped off the mom. Like 0:20:40.160 --> 0:20:41.480 someone called he was like, oh, so you want a 0:20:41.480 --> 0:20:44.760 slot machine. She's like really, So she banded together with 0:20:44.800 --> 0:20:48.280 Potsy and uh yeah, everybody except Fonzi and um and 0:20:48.359 --> 0:20:53.000 Richie Richie because they still have money. Um wow, that's 0:20:53.040 --> 0:20:56.600 an awful thing to say. They imagine that they didn't. 0:20:57.560 --> 0:20:59.359 When I read that, I didn't know that it was 0:20:59.400 --> 0:21:01.800 slot machines that tipped them off. But I thought, I 0:21:01.840 --> 0:21:04.920 hope Ron Howard like paid for their legal team. Yeah. 0:21:04.920 --> 0:21:09.439 I think they just settled recently. Actually. Um. Roulette of 0:21:09.480 --> 0:21:11.920 course one of my favorites. Yeah. If you want to 0:21:11.920 --> 0:21:14.240 see your money disappear before your very eyes, go play 0:21:14.240 --> 0:21:17.480 some roulette. Yeah. So there's a thirty six spaces on 0:21:17.520 --> 0:21:21.400 a little wheel, numbers uh one through No, I'm sorry, 0:21:21.400 --> 0:21:24.159 there's thirty eight spaces numbers one through thirty six with 0:21:24.240 --> 0:21:28.760 a zero and a double zero, right, very very simply put. 0:21:28.880 --> 0:21:32.760 The dealer spins the wheel up black and red. Two. Yeah, 0:21:32.760 --> 0:21:34.600 well you can. You can bet on all sorts of things. 0:21:34.600 --> 0:21:36.440 There's the table where you bet on you can bet 0:21:36.440 --> 0:21:39.600 on it being landing on a black or red color. 0:21:39.840 --> 0:21:42.639 You can bet on the specific number and the color, 0:21:43.119 --> 0:21:45.440 just the number one that I'm gonna bet on twenty two, 0:21:45.520 --> 0:21:49.760 and it comes up and it pays off and well yeah, um, 0:21:49.800 --> 0:21:52.200 and depending if you think it pays two to one, 0:21:52.240 --> 0:21:57.080 if you um, if you correctly bet on red or black, 0:21:57.119 --> 0:21:59.800 and then it just gets more from there. But the 0:22:00.040 --> 0:22:02.000 dealer spins a wheel and then the ball is dropped 0:22:02.000 --> 0:22:04.200 in and it spins around and bounces and then whatever 0:22:04.680 --> 0:22:09.119 number color lands on. If you bet on that, baby, 0:22:09.160 --> 0:22:13.560 you are rolling in it. But I think the roulette, 0:22:13.600 --> 0:22:15.600 I think the reason I like it it's just so 0:22:15.720 --> 0:22:19.159 it's such an elegant game. There's a wheel that spins 0:22:19.240 --> 0:22:22.320 and then you feel like you're in Monte Carlo very much. So. Yeah, 0:22:22.440 --> 0:22:25.280 I think that's why I like The house edges between 0:22:25.440 --> 0:22:28.280 five and seven um, even though it varies because there's 0:22:28.280 --> 0:22:32.240 so many different bets and payouts. Craps. Craps I know 0:22:32.320 --> 0:22:34.840 almost nothing about. It's the most fun game in Vegas 0:22:35.440 --> 0:22:37.880 or at a casino. In my opinion, it's the most 0:22:37.880 --> 0:22:40.560 social game. You hear a lot of people having a 0:22:40.600 --> 0:22:43.320 lot of fun and chances arts coming from the crap section. Yeah, 0:22:43.560 --> 0:22:46.000 because you're involved, you're throwing the dice. That has a 0:22:46.000 --> 0:22:49.680 lot to do with it. And my advice if you 0:22:49.720 --> 0:22:53.240 want to play craps, it's really complicated with all the bets, 0:22:53.480 --> 0:22:56.200