$1 million in wagers not same as $1 million outlay by bettor
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A politician was accused of embezzling government funds. Records from one of the casinos showed more than a million dollars in bets on slots.
A politician bet a million dollars on slots. It takes $100,000 to make $1 million worth of wagers on 90-percent machines. The largest share of the bets are funded by winning spins. If the play was on higher-paying games, average losses could be much smaller. For example, $50,00 for $1000 on a dollar slot paying 95 percent, or $30, 000 on $5 or above. Blackjack cards say you should hit 12 when the dealer has a 2. I don't like hitting when a 10 will bust me. In a six-deck game, if the player hits soft 17, the average loss is 29 cents per dollar wagered.
