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Old 01-18-2020, 09:12 AM
 
3,663 posts, read 5,360,097 times
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Does anyone know what the projected tax revenue is?
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Old 01-18-2020, 12:41 PM
 
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Slot machines is a low margin high volume business . The difference between casino payback is not big % but the frequent player notices the smallest difference. On average, a casino is paying out 90% and keeping 10%. I know you are thinking that can't be possible because you lose a 100% of your money. Think about it this way. You and your friend each play $100 ($200 total). You lose all your money and your friend wins $80 - the Casino kept $20 or 10%. I am sure it feels like you only know losers but I promise you there are winners.

As for Gaming Boards - most state regulations require between an 80%-100% payback so that is a big range to play with.

Different paybacks are set for different denominations. If you are playing a $0.01 (penny machine) the payback to the customer is low (higher margin to the casino). If you are playing a $5.00 machine the payback is higher to the customer because no one is going to bet $5.00 if there is not the potential for a big return. But the Casino can take this risk because it is lower volume and lower odds of being hit. So your comment about wealthier or more sophisticated gamers wanting a big payout is valid - but they are not the volume players.

Regarding the licensed machines like Game of Thrones - those are likely leased machines (not actually owned by the Casino) and they definitely have a lower payout to the customer because they cost the Casino money. Some leased machines are flat fee and some are revenue shares with the manufacturer. They are necessary to keep the slot floor fresh and exciting. But you would be surprised how many customers are out there that have played the same old machine for 10 years and freaks out when you just move its location. Slot players are very superstitious.

The Slot Team and the Marketing Team are very tuned into (or try to be) the behavior of every type of customer and in one casino there is not one homogeneous customer. The goal is to maximize revenue and to have just the right mix of games, promotions etc. Compare this to Delta and how they try to maximize revenue on a plane - you have bargain travelers and business travelers with different motivators and behaviors.

Here is some good general info about paybacks - note that Native American Casinos are not required to report.

https://www.americancasinoguide.com/...tatistics.html
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Old 01-20-2020, 11:42 AM
 
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I'm against it. I won't moralize how and when people spend their money, but I've encountered far more news of local areas (in Ohio, in Baltimore, Mississippi, etc.) not reaping the benefits of things like casinos such that I don't believe Georgia would be the exception.

The last time I even thought about gambling in general was before the US's newest President. If there is something like a casino, I doubt it would be in any of the richer areas and would probably end up in structurally underused spaces in poorer counties now like Clayton. If the demographic of gamblers who physically go into places (mostly poor or working class) has dramatically balanced out or is now equally represented by affluent folk, then that's just some amazing news and maybe I'd feel differently.

The state'll vote if it does; whether or not it happens, I'm against it.
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Old 01-20-2020, 12:09 PM
 
Location: Buckhead Atlanta
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As long as it is not in core counties of Metro Atlanta, I'll vote for it.
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Old 01-20-2020, 12:27 PM
 
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Quote:
Originally Posted by markjames68 View Post
Except it’s merit-based, so any child can get a Hope or Zell Miller scholarship, which is the way it should be.
On the surface, it may seem merit-based, but dig into property taxes and how school resources are allocated along socio-economic grounds. Kids in poor school districts won't be able to compete for the scholarships at the same level as those from rich districts, and that's by design.
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Old 01-20-2020, 12:36 PM
 
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Originally Posted by cparker73 View Post
On the surface, it may seem merit-based, but dig into property taxes and how school resources are allocated along socio-economic grounds. Kids in poor school districts won't be able to compete for the scholarships at the same level as those from rich districts, and that's by design.
As a parent it’s my job to help my kids get prepared and compete, not the state’s. And also the responsibility of my children.
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Old 01-20-2020, 01:06 PM
 
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Originally Posted by markjames68 View Post
As a parent it’s my job to help my kids get prepared and compete, not the state’s. And also the responsibility of my children.
It's also the school's responsibility; otherwise, what's the point in sending them to school? If a school doesn't have what it needs to educate your child, the onus is on that school. I drive 20 miles out of my way every morning to send my daughter to a private school because our neighborhood option is awful. I'm quadruply taxed by paying for tuition ($25K+) at a private school in order to give her the quality of education offered at public schools in other parts of city and county. Unfortunately, not everyone has the means to do that, and it shouldn't be that way.
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Old 01-20-2020, 01:33 PM
 
8,544 posts, read 4,490,146 times
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Originally Posted by cparker73 View Post
It's also the school's responsibility; otherwise, what's the point in sending them to school? If a school doesn't have what it needs to educate your child, the onus is on that school. I drive 20 miles out of my way every morning to send my daughter to a private school because our neighborhood option is awful. I'm quadruply taxed by paying for tuition ($25K+) at a private school in order to give her the quality of education offered at public schools in other parts of city and county. Unfortunately, not everyone has the means to do that, and it shouldn't be that way.
There are many need-based programs out there, as well as scholarships and bursaries based on diversity and other criteria. In NY if you earn less than $125K your child gets a free tuition ride at CUNY and SUNY schools. Harvard offers full rides to low income students.

The GA option is awesome because it offers any B student a way to fund college and keeps them in state. I don’t think the criteria require the student to be graduating from only high-income families or high-performing schools.
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Old 01-20-2020, 04:13 PM
 
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Originally Posted by markjames68 View Post
There are many need-based programs out there, as well as scholarships and bursaries based on diversity and other criteria. In NY if you earn less than $125K your child gets a free tuition ride at CUNY and SUNY schools. Harvard offers full rides to low income students.

The GA option is awesome because it offers any B student a way to fund college and keeps them in state. I don’t think the criteria require the student to be graduating from only high-income families or high-performing schools.
Harvard offers full scholarships to most families with a net worth below $1 million. Harvard was shamed into doing this when the NYtimes ran a Sunday editorial taking them to task on not offering enough scholarships when their endowment is earning more in interest than the total cost of tuition for the entire undergrad student body. The endowment is over $40 billion & made $1.7 billion in interest last year.
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Old 01-20-2020, 04:41 PM
 
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Quote:
Harvard offers full scholarships to most families with a net worth below $1 million.
For its graduate programs, too?
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