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Man puts $20 into slot machine at Detroit casino, wins $875K The guest, who chose to remain anonymous, won $875,527 on Wednesday, Aug. 15 when he put $20 into his favorite slot machine, Wheel of Fortune Double Diamond. ( DETROIT - A longtime visitor to Greektown Casino-Hotel recently won $875,527 on a slot machine. The guest, who chose to remain anonymous, won the big prize on Wednesday, Aug. 15 when he put $20 into his favorite slot machine, Wheel of Fortune Double Diamond. Upon winning the massive prize, the 50-year-old male said he was so shocked that he could not move, according to a news release. When asked what he will do with the jackpot, the lucky winner stated that he plans to use his winnings to take his family on a trip. Greektown Casino-Hotel has become known for major Wheel of Fortune wins. In 2015 a guest won more than $2 million while playing Wheel of Fortune, the highest progressive jackpot won in Detroit history. The previous highest progressive jackpot of $1.77 million also was won at Greektown in February of 2004 on a nickel Wheel of Fortune machine. Greektown Casino-Hotel, located in downtown Detroit's historic Greektown Entertainment district, features a 100,000-square-foot gaming floor offering more than 2,800 of the latest gaming machines.
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This means that over the long run, the game will return 10 percent of all wagers it accepts to the casino that owns it. So if it accepts $1 million in wagers over 2 million spins, it would be expected to pay out $900,000, resulting in a casino gain of $100,000. Thus from the management’s perspective, the “price” it charges is the 10 percent it expects to collect from gamblers over time. Individual players, however, will likely define price as the cost of the spin. For example, if a player bets $1, spins the reels and receives no payout, that’ll be the price – not 10 cents. So who is correct?
For the original version including any supplementary images or video, visit http://theconversation.com/how-slot-machines-work-and-why-you-should-think-twice-before-playing-them-100700
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