How are Spin N Gos profitable?

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  • Ballerholic
    SBR MVP
    • 01-16-13
    • 2767

    #1
    How are Spin N Gos profitable?
    So it's a 3 handed game where the winner wins $2. Basically you buyin for $1 (so that gets taken out of your account), and then if you win you get $2 (but you don't get your buyin back). So essentially you are only winning $1 because $2-$1=$1. Therefore, to be breakeven at the game you need to win 50% of the time. Why would anybody play this game? Can anybody chime in? I understand sometimes the jackpot gets multiplied to an x amount of the prize pool, but most of the time the prizepool is just double the buyin. WTF?
  • Crusherrr
    SBR MVP
    • 06-27-16
    • 3649

    #2
    You definitely don't need to win 50% of the time. Best way to tell if you're a profitable player in them is to calculate your Chip EV with PT or HEM. The variance in Spins is high but there are plenty of profitable players in them because they cater to fun players so often.
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    • Ballerholic
      SBR MVP
      • 01-16-13
      • 2767

      #3
      how do you not need to win 50% of the time. If we exclude multipliers and just assume the winner gets 2x the buyin, then you need to hit at a 50% clip. Against two other players, it seems like the biggest scam in poker
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      • snapperman2
        SBR MVP
        • 08-19-10
        • 2078

        #4
        The jackpot is frequently higher than the minimum. You also have a small chance to win a very large jackpot. You can win if you finish first about 36% of the time, which is achievable.
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        • Crusherrr
          SBR MVP
          • 06-27-16
          • 3649

          #5
          Originally posted by snapperman2
          The jackpot is frequently higher than the minimum. You also have a small chance to win a very large jackpot. You can win if you finish first about 36% of the time, which is achievable.
          Basically this.
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          • Ballerholic
            SBR MVP
            • 01-16-13
            • 2767

            #6
            okay, yea obviously it's a pretty big scam. I actually think you need to be winning around 38% including the multipliers. Rake is too high but it's a fun game
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