Tag: gambling
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eBay UK have changed their terms to (a) remove seller fees for most private sellers, but (b) instead of paying-out immediately, payouts are four times a year (or on-demand).
That sounds like they're trying to keep money in their ecosystem. The hope is, I guess, that by paying sellers in virtual "eBay Pounds" rather than actual money in the first instance they'll encourage those sellers to become buyers again (either of other listings, or of eBay's postage and other services). You can cash out anytime you like, but you can never leave.
You see the same technique used e.g. by the National Lottery, who pay out "small" winnings into your online account, knowing that the vast majority of winnings are on the order of only a few times more than the value of a ticket, and so players will be more-likely to "re-invest" if they're not paid-out directly.
Or maybe I'm just being cynical.
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[Bloganuary] Not The Lottery
You already know what I'd do if I won the lottery: the same things I do now, just with more of the ones that don't pay. But before we talk about that, let me talk introduce you to game that's much more-satisfying to play than the lottery.
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#challengerobin continues unexpectedly into a new day as I bet Robin a tenner that he can't jump a river without getting his feet wet.
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A Russian Slot Machine Hack Is Costing Casinos Big Time
In early June 2014, accountants at the Lumiere Place Casino in St. Louis noticed that several of their slot machines had—just for a couple of days—gone haywire. The government-approved software that powers such machines gives the house a fixed mathematical edge, so that casinos can be certain of how much they’ll earn over the long … -
Non-transitive Games
Dan learns about non-transitive games, writes a program to calculate the probabilities of winning a non-transitive dice game, and gives you a non-transitive coin game to play for yourself!