Re: Misleading TV ads.
Originally Posted by
Grumblewagon
->
What about all these ads for bingo where people only seem to win. Nobody ever seems to lose all their housekeeping money.
But most do of course.
Online Bingo is rigged ! Do not be fooled.
It seems perfectly harmless maybe even fun for some people but they are just going to lose lots of money. Pretty much all online gaming is rigged, but people often don't see or understand how.
Let me explain for any online bingo players out there how and why you are losing money.
The Dice Game
I will explain using the example of a dice game.
In this game I am the "house" and you are the punter.
I present a single 6-sided die. It is a completely true and legitimate die not in any way crooked or bent.
I offer you this proposition.
The game consists of rolling the die for which you pay £1 for each roll you make.
If you are lucky and roll a 6, then I pay you £4 in prize money.
That's it. A very simple game. A very simple gamble. You pay £1 to roll. If you roll a 6 you win £4. Roll anything else and you have lost your £1.
You should now think about this game and assess whether you think it is either:
1. A harmless game in which you might be lucky or you might not
2. A game where you can win 4 times the stake you paid.
3. A terrible game in which you can never win.
Analysis and Truth
The answer is that this is a terrible game in which you can not win. Yes, for one single roll, you could pay £1 and win £4 but considering one roll or one game in any form of gambling is simply silly and unrealistic.
What matters is the true statistics that govern the game. For some people maths and statistics are difficult subjects so let me explain.
It's a 6-sided die so you already know in your head that on average you will throw a 6, about once in every 6 throws.
So the math is simple. If it takes you 6 throws to finally roll a 6 then those 6 throws, which cost £1 each, will cost you £6.
When you finally throw your 6, you are only getting paid £4.
Cost £6, Prize £4
So you are losing £2.
There is no way to win this game because of this irrefutable statistic.
The key fact to bear in mind is that the amount of Prize Money paid is not enough to cover the total amount of all those individual stakes you will pay before you win.
Online Bingo
So now let's apply this to online bingo.
It is pretty much an identical situation.
You pay a stake to participate in any given game.
Your chances of winning depend on how many games you have to play before you win and that depends on how many other people are also playing. It's just like the sides of the die.
Suppose there are just 6 people in the game and each person paid £1 to enter the game. On average you will win once in every 6 games. If the Prize money is less than £6 then just like the dice game, you can not win . . . ever !
Now I hear you cry "But Realist . . the prize money is often £50 to £100 !"
Ok, that is true. So if there were just 6 people in the game then that level of prize money would guarantee you would win because you would win one in 6 games (costing £6) and you would win £50 or more. Obviously then that would cost a fortune for the bingo company who would lose a ton of money every game. So that situation DOES NOT EXIST !
How Online Bingo Is Rigged
It's really very simple.
The number of people participating in any given bingo game, IS NOT WHAT YOU THINK IT IS.
On your screen it might say there are 50 people playing. So you figure you have a 1 in 50 chance of winning and the prize money is say £45. Those odds don't sound too bad. Obviously you're losing in the long run as you will pay £50 (£1 per game) before you win and when you do win you only win £45, but you figure, "hey, the house has to take its cut and make a living" which is of course correct.
The site is hosting a website, has overheads and running costs so takes a small % of the money.
But how much really is it taking?
The answer is they are taking a fortune which is why you seem unlucky and lose a lot of money.
The reality is that there are far far more people in your game than is being displayed on the screen.
Consider our example. Your screen was showing that 50 people were in your game and as the prize money was £45 you figured that wasn't too bad. The reality however is that there are likely 100-200 people in your game.
There is no way for you to see this or know this. You don't get to see the login alias names of other players (like you do in say online poker). All you have is a number on the screen.
So now how does the proposition look. Say there are really 150 in your game rather than 50. You will now only win once in 150 times. That costs you £150 (£1 per game), but when you do win you only get £45 !
It's a terrible terrible proposition which will see you losing a fortune.
The prize money being paid out in NO WAY comes close to the amount you have to expend to win it.
This is how online bingo fleeces the population and why there are endless adverts for more and more new bingo sites. It's easy money for these criminals because maths is not the strong point of many punters and even if they understand the odds, they are being duped about the number of people participating in every game.
It truly is a mugs game. It's not even a harmless bit of fun in which you expect to spend a little bit of money for some light entertainment. It is wholesale robbery.
My advice obviously is to stay well clear of any online gaming.