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Does Variable Wagering Affect The Ability Of Reel Slot Players To Detect Differences In Pars By Way Of Changes In Play Time?, Anthony F. Lucas, A.K. Singh
Does Variable Wagering Affect The Ability Of Reel Slot Players To Detect Differences In Pars By Way Of Changes In Play Time?, Anthony F. Lucas, A.K. Singh
UNLV Gaming Research & Review Journal
The aim of this study was to better understand the role of a slot machine’s house advantage (a.k.a. par) in the individual player’s gambling experience. On this issue, the results challenged the inveterate wisdom of the industry. A battery of simulations comparing outcomes produced on slot machines with different pars failed to produce significant differences in play time, i.e., spins per losing player. These simulations were the first to accommodate variable wagering behavior, as identified by player tracking data donated by a Nevada casino operator. The results inform operators and game makers alike as to the ability of gamblers to …
The House Edge And Play Time: Do Industry Heuristics Fairly Describe This Relationship?, Anthony F. Lucas, A.K. Singh
The House Edge And Play Time: Do Industry Heuristics Fairly Describe This Relationship?, Anthony F. Lucas, A.K. Singh
UNLV Gaming Research & Review Journal
Based on modified versions of licensed pay tables from reel slot machines, simulations of play failed to indicate a statistically significant difference in the spins per losing player (SPLP), despite a marked difference in the pars (i.e., 7.9% vs. 12.9%). To reflect a volume of play consistent with frequent gambling, the simulations included results from 1-4 visits per week, for the equivalent of one year. Additionally, this level of play was repeated for 100 “years,” within multiple scenarios of buy-in amounts and stoppage-of-play criteria. Still, most outcomes indicated a negligible decline in SPLP, in spite of the 63%-increase in the …
Exploring The Relationship Between Race And Sports Book Wagering Activity And Daily Slot And Table Game Play, Anthony F. Lucas
Exploring The Relationship Between Race And Sports Book Wagering Activity And Daily Slot And Table Game Play, Anthony F. Lucas
UNLV Gaming Research & Review Journal
Using performance data from three Las Vegas hotel-casinos, time series regression models were employed to better understand the relationship between race and sports book wagering volumes, and slot and table game play. Variables representing both race and sports book wagering volumes failed to produce statistically significant effects in seven of twelve hypothesis tests, within models designed to explain the daily variation in slot and table game play. The results directly extend the work of Abarbanel, Lucas and Singh (2011) by examining the relationship between book wagering levels and table game play, and provide additional empirical tests of the Full Service …
Examining The Link Between Poker Room Business Volume And Gaming Activity In Slot And Table Games: A Closer Look At A Key Assumption In The Full Service Theory, Anthony F. Lucas
Examining The Link Between Poker Room Business Volume And Gaming Activity In Slot And Table Games: A Closer Look At A Key Assumption In The Full Service Theory, Anthony F. Lucas
UNLV Gaming Research & Review Journal
Results from three different Nevada hotel-casinos failed to support the popular notion that poker rooms drive business to the slot and table game areas of the casino floor. This result not only questions the validity of a key and somewhat bold operating assumption, it casts a shadow of doubt on the broader Full Service Theory, as applied to the casino floor. Additionally, this work extends Ollstein (2006) by empirically examining the relationships between the daily business volumes of poker rooms and both critical gaming centers (i.e., slots and table games). Five of six key results question the wisdom of offering …
Simulating The Effect Of Pay Table Standard Deviation On Pulls Per Losing Player At The Single-Visit Level, Anthony F. Lucas, Ashok K. Singh, Laxmi P. Gewali
Simulating The Effect Of Pay Table Standard Deviation On Pulls Per Losing Player At The Single-Visit Level, Anthony F. Lucas, Ashok K. Singh, Laxmi P. Gewali
UNLV Gaming Research & Review Journal
While holding par constant, changes in the standard deviation of the pay table produced an inverse effect on pulls per losing player (PPLP), across six different virtual slot machines. This result establishes the standard deviation of a game as a crucial determinant of a slot player's experience. Three different single-trip scenarios were examined via computer simulation, with 50,000 players engaging each game. For example, virtual players began with 100 units, terminating play at bankruptcy or 200 units. As players focus on the outcome of single visits, understanding the determinants of PPLP (or time on device) will help management engineer desirable …
Estimating The Indirect Gaming Contribution Of Bingo Rooms, Anthony F. Lucas, William T. Dunn, Anna Kharitonova
Estimating The Indirect Gaming Contribution Of Bingo Rooms, Anthony F. Lucas, William T. Dunn, Anna Kharitonova
UNLV Gaming Research & Review Journal
Using data from two repeater market hotel casinos, the relationship between bingo and slot business volumes is explored. Contrary to conjecture supplied by industry executives, the results fail to demonstrate a statistically significant relationship between daily bingo headcount and coin-in. This result was found in three different analyses, including one· attempt to estimate the impact of bingo headcount on low-denomination coin-in. This study advances the literature by challenging the assumption that bingo rooms produce substantial indirect slot profits. Given the minimal direct contribution to property cash flows, if any, the results suggest that bingo rooms are not always the highest …
Estimating The Short-Term Effects Of An Increase In Par On Reel Slot Performance, Anthony F. Lucas, Karl D. Brandmeir
Estimating The Short-Term Effects Of An Increase In Par On Reel Slot Performance, Anthony F. Lucas, Karl D. Brandmeir
UNLV Gaming Research & Review Journal
Data from a US hotel casino are analyzed to examine the validity of a controversial theory holding that reel slot players are unable to perceive substantial increases in par (i.e., a hidden price). The results of a multiple regression analysis support this theory. A 50% increase in the pars of a $5.00 reel sample, failed to significantly affect the performance of these games. The control-group games featured 5.0% pars, while the experiment-group pars were set at 7.5%. Descriptive statistics show that the theoretical win per unit actually increased at the 7.5% par. The strategy behind the theory is to obtain …
Assessing Discount Policies And Practices In The Casino Industry, Jordan Salmon, Anthony F. Lucas, Jim Kilby, Michael C. Dalbor
Assessing Discount Policies And Practices In The Casino Industry, Jordan Salmon, Anthony F. Lucas, Jim Kilby, Michael C. Dalbor
UNLV Gaming Research & Review Journal
No abstract provided.
The Determinants And Effects Of Slot Servicescape Satisfaction In A Las Vegas Hotel Casino, Anthony F. Lucas
The Determinants And Effects Of Slot Servicescape Satisfaction In A Las Vegas Hotel Casino, Anthony F. Lucas
UNLV Gaming Research & Review Journal
Scales representing ambient conditions, ability to navigate the slot floor, cleanliness, interior decor and seating comfort all produce a significant effect on slot servicescape satisfaction. Scales representing slot servicescape satisfaction and gaming value produce significant effects on overall satisfaction with the slot experience. Overall satisfaction with the slot experience produces a significant effect on behavioral intention variables such as repatronage, word of mouth and desire to remain in the casino environment. This exploratory study uses data from a Las Vegas hotel casino to extend the work of Bitner (1992) and Wakefield and Blodgett (1996) related to servicescape effects. Simultaneous multiple …
Game Volatility At Baccarat, Andrew Macdonald
Game Volatility At Baccarat, Andrew Macdonald
UNLV Gaming Research & Review Journal
The authors discuss the volatility of table games using Baccarat as an example. The expected deviation from the win, in percentage terms, will decrease as the number of decisions is increased. In absolute terms, the deviation is likely to increase as decisions increase. Through the formulas presented in the article the author shows there is no natural evening-up process. That is if a casino lost one million dollars on Baccarat play last month, the casino manager cannot expect to make the theoretical win plus an additional one million next month. The article will help managers understand and plan for fluctuations …
Estimating The Indirect Effect Of Sports Books On Other In-House Gaming Volumes, Brett L.L. Abarbanel, Anthony F. Lucas, Ashok K. Singh
Estimating The Indirect Effect Of Sports Books On Other In-House Gaming Volumes, Brett L.L. Abarbanel, Anthony F. Lucas, Ashok K. Singh
UNLV Gaming Research & Review Journal
Using data from a repeater market hotel in Las Vegas, Nevada, the relationship between sports book and slot machine revenues is examined. Daily sports book write and daily slot handle are compared over a 250 day period. Though many industry leaders theorize that sports book gamblers also wager in slot banks, the results of this Autoregressive Integrated Moving Average (ARIMA) analysis fail to demonstrate a statistically significant relationship between sports book write and slot coin-in at the 0.05 alpha cutoff. This study advances literature currently available by establishing the lack of such a relationship and disputing the generally accepted assumption …