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State Farm drones; PlayStation nostalgia; hedge fund slot machine State Farm drones; PlayStation nostalgia; hedge fund slot machine State Farm has received approval to fly drones long distances and over populated areas in four states to assess damage from Hurricane Florence. The Federal Aviation Administration granted the approval the first for an insurance company this week in a departure from its rules restricting flights to low altitudes, away from people, and to short distances within sight of an operator on the ground. State Farm will use eBee drones made by SenseFly of Switzerland. On the heels of Nintendos wild success with new models of classic gaming consoles, Sony will produce a tiny PlayStation based on the original. According to TechCrunch, the $100 PlayStation Classic with two controllers will hit the market Dec.

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While the game has certainly collected $1 from the player, management knows that eventually 90 cents of that will be dispensed to other players. A player could never know this , however, given he will only be playing for an hour or two, during which he may hope a large payout will make up for his many losses and then some. And at this rate of play it could take years of playing a single slot machine for the casinos long-term advantage to become evident . Table games like black jack are not nearly as lucrative to the casino as slots. Reuters/Toru Hanai This difference in price perspective is rooted in the gap between the short-term view of the players and the long-term view of management. This is one of the lessons Ive learned in my more than three decades in the gambling industry analyzing the performance of casino games and as a researcher studying them. Lets consider George, who just got his paycheck and heads to the casino with $80 to spend over an hour on a Tuesday night. There are basically three outcomes: He loses everything, hits a considerable jackpot and wins big, or makes or loses a little but manages to walk away before the odds turn decidedly against him. Of course, the first outcome is far more common than the other two it has to be for the casino to maintain its house advantage. The funds to pay big jackpots come from frequent losers (who get wiped out). Without all these losers, there can be no big winners which is why so many people play in the first place.

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