Lake Martin Topics: Another 777 joint

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	Name:	F1Fan -
	Subject:	Another 777 joint
	Date:	8/28/2006 9:56:30 AM

BigFoot - he's right. It really is a phone card/internet access time card. When you buy the card it is also encoded with a set number of "pulls" on a sweepstakes machine. The determination of whether you win or not is made when the card is coded, not when you exercise it. Amazingly the machines that read this card look amazingly similar to a Vegas style slot machine. Put the card in (just like a cash card at the riverboat casinos, nice similarity) and away you go.

Apparently the two keys to getting around the current laws were the predetermined nature of the winning cards and the fact that you could also get one for free by sending a SASE, blah blah blah. Just like the McDonalds deals.

It makes money for the folks paying off the "winners" simply through a very house-titled odds structure. Think about it - casinos make money and the most "equal" game is blackjack where they have a .5% advantage. Other games are much more. They don't make money on every player - it's called the long-term and they will always come out on top over time.

It makes money for the seller of the time since they know most of the time on the cards will never be used. I imagine they sell the time to the reseller at a huge discount because of this.

I'm not wild about the theme and target audience, but I do give credit to the folks that came up with this method of maneuvering a very small opening in the law.

Fools and Money.