A 10,000-hale giant punchboard whose chances are 10¢ each will take in $1,000 when completely said. The prize awards paid to winners seldom total mare than $400, giving the seller a profit .of $600, .or 60%. Slat machine .or punchboard syndicates install their awn boards in bars, clubs, restaurants and other desirable locations when these are under their central. The seller keeps about 30% .of the take and the remaining 70% goes to the syndicate which pays the cast .of the merchandise prize awards and makes a contribution to the grafting City Fathers who allow them to run this .organized racket. The ice is usually about 25% .of the syndicate's net profit. The presence .of a considerable number .of punchboards in your locality, like the presence .of any other farm .of .organized gambling, means that .one .or mare .of your local politicians and or police .officials are taking graft. I got all te details of this article from online links directory searching.
Any player can easily calculate the seller's percentage .of profit an any honest punchboard by counting the number .of chances an each board, then multiplying the total by the cast .of each chance. The result is the board's .overall take. Deduct from this the total .of the amounts paid out in cash awards and you have the seller's profit. Divide seller's profits by board’s take ta get the percentage in favor .of the seller. Example: A board’s total take is $600, the seller's profit $360. Divide $360 by $600 far an answer .of 60%. Do 1 hears anyone disagree with the statement that all punchboard players are strictly chumps?
Add to this the fact that a great many stare- and innkeepers who aren't satisfied with a 50% .or 60% profit increase it simply by removing the punchboard whenever the board has had a good play and the big prize numbers are still in the board.
About 1930, in .order to entice players to lose their money faster, punchboard manufacturers added the slat machine jackpot principle.
They placed a window cutout covered with cellophane at the top of the board.
Before putting the board on display, the seller inserts several coins into this jackpot recess through a slot at the top. Then he builds the jackpot by adding every third or fourth coin gambled by the players. A player who punches out the numbered slip that corresponds with the jackpot number wins the jackpot coins plus a stipulated additional cash prize. Since the players lose three times as many coins as go into the jackpot, it is obvious that in the long run they wind up behind the eight ball. And if the board is crooked and the jackpot number has been punched out in advance, the players all lose in the short run, too.
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