The gambling commission is the public body in charge of regulating gambling games and making sure that all of the games are fair and honest. The Gambling Commission considers these games are fair when the rules and payback rates are clearly displayed. This means that the FOBT machines that are found in many bookmakers in the UK do apply to the requirements. However, are these machines really fair?
When you play at Poker QQ site, the benefits are high at the online site. The requirements fulfillment is great at the online reputed platform. The generation of the number is great at the betting tables and casino slot machines. You can play the games and have the benefits.
Many people have compared the payout rate on the front of these machines to the interest rates quoted by lenders. Just because it is clearly displayed, it certainly doesn’t mean that it is fair.
Prime Table Games recently conducted a study of these Fixed Odds Betting Terminals and discovered that the real payout rate for these machines can be as low as 1%. As roulette accounts for more than 90% of the games played on an FOBT, it is easiest to look at this when comparing the payout. If the roulette payout on an FOBT is 97.3% per spin, this means that the probability of winning is reduced every single spin, this is something that the players are not informed about. On the second spin for example you will have a 97.3% of 97.3% chance of winning. This means if you play with the same amount of cash in one hour then your actual payout will be 1% of the cash you have played; this is well under the 97.3% quoted.
Although these machines do seem to comply with the current regulations, they are very clever at confusing and exploiting players. This means that they are one of the biggest problems for people who are addicted to gamblers and don’t know how to stop.
The study found that the payout should be around 25% in most cases; this means that most players will lose 75% of their money which is a huge sum of money. This is a very big loss and no professional gamblers would accept this, in fact it can be argued that only problem gamblers would choose this option.
A serious problem with FOBTs is that they play games very quickly. It plays over 3 times as fast as a standard game of roulette and that’s the reason why they are becoming so addictive. A real roulette table in a casino has a payback of around 85% and losses of 15%. This means that these FOBTs certainly aren’t suitable for many people, they go against what was included in the 2005 gambling act.
Do FOBTs lead to Problem Gambling?
There has been a lot of interest in these FOBT machines as many people believe that they do cause problem gambling. A study in 2010 identified 5 gambling activities which had problems, one of the most concerning was FOBTs.
What’s more many of these FOBT machines are attractive options to some of the most vulnerable types of gamblers. This includes people from a very low income group, young gamblers, at risk gamblers and unemployed gamblers.
These findings are very concerning because they prove that FOBT is likely to prey on the vulnerable gamblers. As these games play much faster than a casino it is very easy for players to get drawn in and end up betting much more than they can afford to lose.