Posted on 02/07/2014 7:17:37 PM PST by FlJoePa
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By Rob Copeland connect Feb. 6, 2014 10:30 p.m. ET
The hottest attraction in Las Vegas is an outdated three-reel slot machine that hasn't produced a jackpot in almost two decades. WSJ's Rob Copeland reports from the floor of the MGM Grand.
LAS VEGAS—Forget Britney Spears and Cirque du Soleil. For many gamblers, the hottest attraction in Sin City is an outdated three-reel slot machine that hasn't produced a jackpot in nearly two decades.
It is called the Lion's Share, and in this city with no shortage of losing bets, the 20-year-old slot has attracted a legion of ever-hopeful devotees on the floor of the MGM Grand, the Strip's second-biggest casino.
The machine's miserly track record may, paradoxically, make it the rarest of all Vegas treats: A decent bet. A generation of players has already lost money on it, helping more than double the progressive jackpot to an improbable $2.3 million.
"You see the sharks swimming around, scoping you out," said Washington state resident Lief Anderson. The 64-year-old is a second-generation Lion's Share player: He took over the family quest from his late father 10 years ago.
(Excerpt) Read more at online.wsj.com ...
But, how can you tell if maybe it’s broken...??
If it hasn’t paid off in 20 years (except for the casino) there may be a reason. Seems like every time the Indian casinos have a big jackpot, they refuse to pay off because the machine is broken. Perhaps MGM’s machine is in perfect working order.
Odds don’t depend on past statistics. They’re independent of one another.
Yep. This machine could go another 20 years and never pay off, if it lasts that long.
Bump!
True, but...there are ways to test a coin for fairness. And when you get to 20 years with no tails, you need to check and see if you’ve got a two-headed coin ;-)
Sure. I took 400 level stat and econometric classes at PSU. I get that part of it.
But...it seems odd that it hasn’t cracked when it is being played 24/7.
What a great way for the Mob to launder some money.
Just place a large amount of cash in the winnings and send Guido over to play his luck on the no payout machine.
Exactly correct. 20 years without a payout could mean it cannot pay out. It certainly does not mean that it is more likely to payout than another machine.
Or rigged.
IT seems like a loser.
LOL! Would seem so ... I mean, after all, 20 years with no major payoff???
It’s certainly not a looser...
From what I heard is that there is firmware (permanent memory) in slot machines with a list of outcomes, past and future that can be audited by the gaming commission.
Therefore the performance is planned. It may never produce a jackpot if the list has been exhausted and repeated. I’m thinking there are folks in the MGM office laughing their heads off.
Stick to craps-roullette-blackjack.
?? Did Britney open a brothel or something?
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