The phrase he used, "playing to extinction", very much reminds me of what's happening now across most entertainment categories, broadly speaking (autoplay, loot boxes, slot machine-style gaming content, etc.)
Why haven't we discovered life yet amongst the vastness of the stars?
Because they wanked themselves to death in VR pleasure palaces.
Also, one would hope that those that are so addicted that they are fine to just haul-off and piss themselves would be able to think ahead and simply wear a diaper.
Riiiigggghhhhttttt
To give an example, slot machines in Nevada must pay out a minimum of 75% of the take. Additionally, no programming/odds updates or machine resets may be made to the slot machine until the machine has sat idle for a minimum of 4 minutes; and if an update/reset is being made the machine _must_ clearly display that this is occurring.
So the sick thing here is that each loss does in fact bring you closer to the winning spin. One of the only real strategies of slot machines (in the sense that there can be a strategy to a game of luck) is to stand around idling watching other people lose, then after someone leaves a machine with a bad run you immediately drop in to the spot and start playing the same machine.
Machines plural - which means a machine that just paid out (in a casino with a large group of machines) can theoretically pay out again before a machine that has a string of losing spins.
win = rand() < .75The takeout is configurable. With older machines they have to be manually set at the machines, but with more modern machines it is controlled by a server. The period of time while the takeout remains unchanged is referred to as a cycle. Casinos are generally free to change the takeout so long as it is a minimum of the regulated amount. Then there are the regulations requiring idle time at the machines like I mentioned in my previous comment. Additionally, the casino may need to notify the gaming commission prior to making a takeout change depending on local regulations.
What I'm objecting to is your idea that machines are more likely to payout after they've lost for a while. Each spin is independent of previous spins. The 75% is just a statistical average over the long run.
To me that implies that the machine is keeping track of a period of time to make sure it pays out 75% during that period.
Each spin is random and independent of whether it's been on a losing streak or not.
My intent was not to imply that each individual losing pull increases the odds, but more that if you just keep rolling the same two dice long enough eventually it's going to come up snake eyes. And this leads to people (especially gambling addicts) continuing to pull that lever after they are long past what they can afford. They know if they just keep pulling the lever (or more likely pushing the bet max button these days) that eventually it has to pay. But the reality is the casinos are predators that feed on that behavior.
Most casinos actually have a much higher takeout rate than the legally required minimums as well; it's very common that they are set closer to the 90-97% range. It's generally observed that a higher takeout will result in more money for the house. With a higher takeout people are more likely to keep winning a bit and feel like they are getting lucky, so they will actually spend more money than if the aren't hitting at all.
Worse yet with progressives is they may even span multiple casinos. So that grand prize someone is grinding for and wasting their money on... it may never hit at that casino.