I keep getting junk email inviting me to gamble. This latest one promises that, if I lose, they will return half my losses. How can they do that and still make money? Normal gambling (craps, blackjack, for example) operate with less than a 3% house odds.
I’m also skeptical. How do I know that their computer isn’t rigged to pay out 85% in craps rather than the usual 98%?
I think that your second question answered your first. Unless you can see and touch the simple mechanical devices (such as dice) on which you’re betting, gambling is just a charity.
I don’t know what casino you are talking about specifically, but it would only be up to a certain dollar amount. This is similar to getting paper vouchers from casino’s that allow you to place along with an actual bet that will win the face value of the voucher back. The idea is to get you into the casino and gambling. They know that on average if you give a guy money but make him gamble with it, eventally he will lose it all and more. This is why they will “comp” people rooms, meals, airfare to get to their casinos.