Why Is Gambling Billionaire's Crown Casino Still Licenced?, page-6

Just while I ranting a bit, I want to illustrate how criminal, a figure of speech, the 85% return minimum is:

Let say you go to Crown and play a machine that has a RTP of 85% with $100 to spend betting $1 per spin. In the very long term the machine will take 15 cents, or 15% of every dollar spin you make. That's what the 85% means.

$100/ 15 x 100 = $666.66

Playing a machine with a 15% house edge will get you roughly $666 of play per $100 you spend. Players average around 20-30 spins a minute while playing, depending on the length of features and whether players speed up wins via the 'take win' button. At $1 per spin.

$666/ 20 = 33.3 minutes of play
$666/ 30 = 22.2 minutes of play

You will lose $100, on average, every 20 to 30 minutes on a machine paying 85% back to a player. This is the legislated minimum, which is clearly destructive. The take home pay of most people is around $1000 a week. You would lose this is, on average, in under 4 hours on a machine paying with these odds. This in one a $1 per spin basis - Crown allows up to $10 per spin on the main floor, so you could expect to loose $1000 in under 24 minutes betting $10 per spin.

Lets do an example of the machine paying out on 40% RTP for over a month, alleged by the whistle blower in the ABC article. Remember this means the machine will make 60 cents in every dollar played. Same situation as before, $100 start and $1 spins.

100/ 60 x 100 = $167

$167/ 20 = 8.3 minutes
$167/ 30 = 5.5 minutes

You would have lost, on average over that month the machine was operating, $100 every 5 to 8 minutes played at $1 dollar a bet. Someone unfortunate enough to stick it out on this machine thinking 'it's gotta pay out sooner or latter', would have lost $1000 in one hour, betting $1 dollar. At $10 a spin this falls to a $1000 loss every 6-8 minutes, or around 150 to 200 spins.

Now, what does this say about the governance at Crown if the machines were 'wiped' or relocated, or any other measure to increase losses, as alleged, beyond the legislated minimum?