Sunday October 22, 2017

Video lottery

The VLT or the Video Lottery Terminal is a game machine which allows the players to bet on the outcome of the game. The VLT is quite similar to slots game. However, a VLT is connected to a computer system which determines the outcome of each bet using a RNG or a random number generator. The outcome of each of these bets is random and the VLT operators can program the total number of payouts in advance. For this reason VLT can be compared to a computerized version of the scratch off lottery tickets.

VLT in Canada

The first ever province to introduce the video lottery had been New Brunswick in Canada. The VLT had been introduced in early 1990s and by 2005 all of the provinces in Canada except for Ontario and British Columbia have permitted VLTs since they generate a large amount of revenue. Recently even Ontario passed a legislation that it might allow VLT in the near future.

VLT in United States

The first ever state in the US to allow VLT had been South Dakota in the year 1989. The machines are all owned by private companies but they are monitored by South Dakota Lottery through a computer system which ensures the integrity of the video lottery.

The state imposes a large tax on the income though the VLTs. Over the years attempts have been made to repeal the video lotteries but they had always been rejected by public vote. The other states in US which have video lotteries in some form or the other are Montana, Louisiana, West Virginia, New York, Delaware, Rhode Island, South Carolina and Oregon. The US Virgin Islands also have legal video lottery which is managed by Southland Gaming of Virgin Islands. The funds which are generated by video lottery are used in several government projects.

The Racinos

The Racinos are slightly different than the VLT since all the games are played on Class II gaming machines. These games are played in a Bingo format. Several states in the US have legalized Racinos and the use of Class II VLTs like West Virginia, New York, Louisiana, Rhode Island and Delaware.

In the state of Montana, the VLT machines are legal to operate in private sector. What this means is that all the card rooms re allowed to have these machines if they have the right permits. The maximum prize money on these machines is $800 and the maximum amount of bet allowed is $2.

Currently only South Dakota and Oregon allow Class III gaming technology for video lottery. What this means is that in these states, the players can compete against the house rather than against the other lottery players. In Oregon, the payout offered by the state to the players is 91-95% on the games while in South Dakota the payout is 88%.

Video lottery has become quite a rage since the time they had first been introduced in the early 1990s and they continue to be so. The video lotteries allow the players to compete for the lottery in an easier way.

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