Discovering Keno

They say that Keno is the worst game to play in any casino. While that may be true from the standpoint of odds, I have found that it is definitely not true from the standpoint of having fun. I started playing Keno at the same time that I started playing short pay video poker machines at an Indian casino. The payback on the video poker machines was about 85%. The four card Keno machines pay about the same.So I went over to the dark side.After catching a seven spot and several five spots and a couple of six spots, I'm hooked.

People are afraid to lose money and an unusual study released on Monday explains why

the brain's fear center controls the response to a gamble study of two women with brain lesions that made them unafraid to lose on a gamble showed the amygdala, the brain's fear center, activates at the very thought of losing money.

The finding, reported in the Proceedings of the National Academy of Sciences, offers insight into economic behavior and suggests that humans evolved to be cautious about the prospects of losing food or other valued possessions.

Benedetto De Martinoa of the California Institute of Technology in Pasadena and University College of London and colleagues were studying why people will turn down gambles that are likely to lead to gain.

"Laboratory and field evidence suggests that people often avoid risks with losses even when they might earn a substantially larger gain, a behavioral preference termed 'loss aversion'," they wrote.

"For instance, people will avoid gambles in which they are equally likely to either lose $10 or win $15, even though the expected value of the gamble is positive ($2.50)."

They studied two women with a rare genetic condition called Urbach-Wiethe disease, which damages the amygdala, the almond-shaped center in the brain that controls fear and certain other acute emotions.

The researchers compared the women's responses to 12 people with undamaged brains. They noted this kind of study usually involves only a few people as it is not possible or ethical to deliberately damage a person's brain to see what happens.

The volunteers were asked to make gambles in which there was an equal probability they would win $20 or lose $5 (a risk most people will take) -- or would win or lose $20 (one most people will reject).

The two patients with damaged amygdalas fearlessly risked a $50 pot.

.We think this shows that the amygdala is critical for triggering a sense of caution toward making gambles in which you might lose," Colin Camerera of University College London, who worked in the study, said in a statement.

"A fully functioning amygdala appears to make us more cautious," added his colleague Ralph Adolphs. "We already know that the amygdala is involved in processing fear, and it also appears to make us 'afraid' to risk losing money."

The study could also help researchers understand why some people are more willing to take risks than others. Perhaps genetic differences in the DNA activated in the amygdala explain it, the researchers said.

(Edited by John O'Callaghan)

Arizona gaming revenue to state down in 4Q of 2009

PHOENIX - The recession continues to take its toll on reservation gaming, affecting not just the tribes but the state programs that share in the profits.

New figures Monday from the Arizona Gaming Department show revenue sharing by the tribes for the last quarter of 2009 was just slightly more than $11.1 million. That compares to $12.8 million in the same period a year earlier - and $15.2 million the year before that.

State Gaming Director Mark Brnovich said the numbers appear to be consistent with what is happening elsewhere in the country.

Gaming experts have said the willingness of Arizonans to put money into slot machines, wager on poker or engage in other forms of gambling permitted on reservations is closely linked to what people consider their "disposable" income for entertainment purposes.

The tribes do not share dollar figures on actual gaming "handles" - the amount of money actually wagered - with the public. The only thing released is a once-a-year tally of gross profit figures, income after paying out winnings but before expenses. And that is not broken down by tribe.

That makes the amount shared with the state - a variable percentage of what each tribe makes - the best indication of trends.

The requirement for tribes to share revenues with the state goes back to a 2002 initiative that gave Native Americans the exclusive right to operate casinos in Arizona.

That measure requires tribes to share 1 percent of the first $25 million in "net wins" each year. That is what is left after gamblers collect their winnings but before other casino expenses.

Arizona gets 3 percent of the next $50 million, 6 percent of the next $25 million and 8 percent of anything above $100 million a year.

Despite the decline, Brnovich said the contributions "continue to provide significant funding for an array of public programs."

Of the funds collected, half go to education, with another $2.5 million for trauma and emergency services. The Arizona Wildlife Conservation Fund and the state Tourism Fund each get about $717,000, and more than $222,000 goes to programs to help people with gambling problems.

The Gaming Department keeps more than $1.9 million for its costs in monitoring and regulating the industry.

Source:Howard Fischer Capitol Media Services | Posted: Tuesday, February 2, 2010 12:00 am