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Casino managers have a long-standing belief that players can tell what the “house advantage” or “par” is. Casinos fear that raising the odds will drive away slot players, but new research shows that may not be true.
“There becomes this issue of, ‘if I put a higher house-edge game in, I might make more revenue in the short run but in the long run, I might damage my brand and chase off all my players if they can tell I’m sort of price gouging,'” said Anthony Lucas, a professor of hospitality at UNLV.
Lucas headed up the research to see if players really could tell the difference between a tight game – a game with higher house edge – or a loose game with a lower house edge. He set up two identical machines within a few feet of each other in casinos known as repeat market casinos, which means the customers come in three to five days of the week.
One of the machines was set to a lower house edge – say 5 percent – and the other one had a higher edge – say 10 percent. “And what we find is that the high-house edge games actually win quite a bit more than the low-house edge games,” Lucas said.
More at Nevada Public Radio
