While temporary regulations had boosted the reporting thresholds for winnings from bingo games and slot machines to $1,200 and $1,500 for keno games, proposals would have lowered these amounts. By Sonny Dasgupta, Director of Marketing, SAP Business Analytics. I just returned from the GRC 2011 conference and, while the bright lights of Vegas and sounds of the slot machines are still buzzing in my ears, what is buzzing much stronger is the interest of SAP customers and partners surrounding the launch of SAP BusinessObjects GRC 10 solutions. WHAT ARE CLASS II SLOT MACHINES. Simply put, Class II slot machines attempt to replicate the traditional ‘Las Vegas style‘ Class III slot machine experience while staying within regulatory guidelines.The Class system is outlined by the Federal Government in The Indian Gaming Regulatory Act and this act defines Class II as “the game commonly known as bingo (whether or not electronic.
Every slot player who has ever walked into a casino has probably had the fantasy of hitting The Big One, that progressive jackpot that will put you on Easy Street for the rest your life. You imagine the thrill of lining up the winning symbols and dream about how you will spend all that money. Then reality kicks in and deep down you know that you have a better chance of getting struck by lightning than you do hitting the big jackpot. Does this mean you should not play progressive slot machines?
While the odds of hitting a life-changing jackpot may be astronomical, you don’t have to avoid all progressive machines. As long as you know what to expect and have some realistic expectations you can give them a shot. There are also some progressive machines that are better than others if you want to hit the jackpot. First, let’s take a look at the basics of progressive machines.
Progressive machines are a group of many slot machines linked together by a network. The big progressive jackpot is made by taking a percentage of all the money played into the machine. This means that the jackpot continues to grow as more people play the machine until somebody hits the winning symbols for the top award. Because a percentage of the coins played form the Progressive Jackpot, the actual payback percentage will be less on the other winning symbols and, in some case, the payback percentage on the progressive machines will be less than other machines in the casino. This is true for the machines that offer the life-changing jackpots. Not all progressive machines are the same. There are actually three different types of progressive machines.
The Stand Alone Progressive
The stand-alone progressive machine is not linked to any other machines. Instead of having a fixed top jackpot it takes a percentage of the coins played and adds that to the award for the highest winning combination. It has a meter on the front and shows you the jackpot. In most cases, the payback is equal to the other machines of that denomination but it just distributed differently to give you a varying amount of the top prize. The progressive jackpots for the stand-alone machines are much lower than the ones from machines that are linked together.
In-House or Proprietary Progressives
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These are a group of machines linked together and owned and operated by the casino. They may be just in a single casino or linked together with several properties if the gaming company owns more than one casino. The jackpots may not be the multi-million variety but they can be quite a substantial win in some casinos. They generally hit more often than the wide area progressives.
Wide Area Progressive
These are the machines that offer the life-changing jackpots. The machines are linked together from many unrelated casinos. These machines are operated by an independently operated rather than a single gaming company. Slot maker IGT operates games such as MegaBucks, Quatermania, and others in many different states. The casino share in a percentage of the winnings but the operator owns the games. The jackpots may be large but so are your chances of hitting the big prize. Because of the costs of linking the machine and the administrative costs to run these wide area games, the payback percentage on these machines is much lower than on other slots.
Take Away
It’s alright to try your hand at the big progressive machines hoping that lady luck will shine on you but don’t make it the mainstay of your slot play. Instead set aside a certain percentage of your playing bankroll and use that for a shot at the big one. Winning one of these is pure luck and is a gamble along the lines of buying a lottery ticket. Don’t spend your entire bankroll chasing a dream. If you want to play a progressive machine you might be better off to concentrate your efforts on the stand-alone or in-house progressives. Your odds are much better. Most importantly remember, playing slots is entertainment. Have Fun!
By Sonny Dasgupta, Director of Marketing, SAP Business Analytics
I just returned from the GRC 2011conference and, while the bright lights of Vegas and sounds of the slot machines are still buzzing in my ears, what is buzzing much stronger is the interest of SAP customers and partners surrounding the launch of SAP BusinessObjects GRC 10 solutions. Using the words of GRC analyst Cindy Jutras, “Previews of the upcoming release of GRC 10.0 (currently in ramp-up with general availability planned for Q2) were a testament to the fact that the voice of the SAP customer has never been stronger.”
Why Is Managing Access Risk Still a Challenge?
Included in this release is the new version of SAP BusinessObjects Access Control. Based on the overflowing customer attendance in the Access Risk Management sessions and Demo Labs, as well as the multitudes of access management-related questions on the show floor, it was clear that most customers are still struggling with executing their access risk management strategy.
So, almost nine years after SOX was enacted, why are companies still struggling, as Gartner analyst Paul Proctor would say, with the standard of due care, i.e. management of segregation of duties (SoD)?
The answer is simple. You may find it hard to believe, but most companies today are still using manual methods – spreadsheets, e-mails, and other desktop tools – to deal with compliance regulations. The flaw of this approach is that the money they’re saving by not investing in an automated solution is far less than the money they’re spending by reinventing the same inefficient process every year and going through the painful exercise of somehow barely passing compliance audits.
For most customers, the benefits and cost savings of an automated application, like SAP BusinessObjects Access Control, provides a clear business case and quick ROI. When it comes to managing risk, one of the first thing that customers with ERP solutions must look into is managing access risk across the enterprise to make sure that there are proper mitigating controls in place when there is an unavoidable SoD violation.
What Are the Steps?
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The question that customers tend to ask is, where should I start? The simple answer is to focus on getting clean first and then learn to stay clean in the long run.
Automated applications help with this because the come packaged with rule sets. SAP BusinessObjects Access Control rule sets are based upon SAP’s business process experience and lessons learned from hundreds of customers in different industries, a core values of the software.
The first step, then, is to start with the out-of-the-box rule sets and run a onetime analysis to clean up as much as possible. Once you have established that, focus on embedding compliance into user provisioning and role management processes. Eventually, only manage exceptions with alerts, reports, and dashboards to stay ahead of compliance with a proactive, not reactive approach.
I know it’s easier said than done, but many companies that are using an automated application like SAP BusinessObjects Access Control have achieved results.
What’s Next?
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Once you’re truly confident about managing your user access risk effectively across the enterprise, where do you focus next? Good question. I encourage you to share your thoughts with me, and I will share mine in my next blog on Thursday.