Woman wins $3 million on penny slots in Nevada
A elderly woman in Nevada recently won $2.99 million on penny slots. The previous record was $2.06 million. The lady plays three times a week and has been for a very long time.
Will publicity of record jackpots increase the number of people who gamble at slot machines? Casinos are trying to increase the quantity of people gambling by offering high rewards for low risk. For example, this lady won nearly $3 million on a $.01 gamble. With gas prices setting record highs and travel down the potential for a high rate of return may draw vacationers to Las Vegas instead of other places.
4 comments:
I think Las Vegas will see the normal numbers of visitors to the slots. Some people might gamble a few more dollars than normal, but I think that would be it. For those who are addicted to gambling however, that's where the difference might occur. A person's addiction already makes their demand relatively inelastic, and the thought of making that much money off of a penny slot will probably only further an increase in elasticity.
I do not think that this will help draw travelers to Las Vegas. ith the gas prices as high as they are, and the way the economy is right now, i do not think that people are more likely to want to go gamble. Also,many people might hear about that woman and just think that she's lucky, not that all of a sudden their chances of winning are higher.
Even though many people will realize that it was sheer luck that the elderly woman won $3 million on the penny slots, a few people might go to Las Vegas simply to try to win a large amount of money. When some people would see that the casinos are offering higher rewards with lower associated risks, a few of them would go to Las Vegas. The possibility of bettering themselves by winning a large amount of money would be enough to draw people in, even though you normally have to gamble for a while before you win at the slot machine.
Personally i think that one big win will not increase the gambling in Las Vegas. People who don't usually gamble will only do as much as they feel is neccessary to satisfy their gambling needs. People who are addicted is where the problem stands. All they will do is put their money into that one game thinking it costs the least amount to play. The chances of hitting the jackpot decrease and you end up spending more money there than you would on a another slot machine that costs maybe 5 to play.
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