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Monday, February 23, 2004
Playing the odds: They're in the house's favor
Gambling operators -- from the state lottery to casinos -- make money for a reason: The odds are stacked in their favor.
Part 1: As legalized gambling has grown in Washington, so has the number of problem gamblers and their effects on society.
- Odds in house's favor
- Addiction nearly tore family apart
Part 2: At casinos and card rooms in Washington, a large proportion of those trying their luck are Asian. And the industry knows that well.
- 'Gambling just took over my life'
Part 3: What the state and gambling industry are -- or aren't -- doing to address problem gambling.
- In Oregon, $3 million a year for treatment
Here are the "house advantages" on several games offered at card rooms and tribal casinos around the region. That advantage means, for example, that for every $100 bet on Caribbean Stud, with an advantage of 5.22 percent, the gambler can expect to lose an average of $5.22. For many of the games, such as blackjack, "perfect" play is assumed. Otherwise, the odds can be much worse for the player. Here also are the odds of winning some popular lottery games offered in the state.
- Blackjack: 0.62 percent
- Pai Gow Poker: 1.46 percent
- Caribbean Stud: 5.22 percent
- Roulette: 5.26 percent
- Bonus Six: 10.42 percent
- Keno: 25-29 percent
- Lotto: Overall odds: 1 in 27. Odds of winning jackpot: 1 in 7 million.
- Mega Millions: Overall odds: 1 in 43. Odds of winning jackpot: 1 in 135 million.
Source: Wizard of Odds Consulting, Washington State Lottery
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