Vegas Casinos Win Streak

[pirateglenn]

Think Poker is on the popularity and profit decline?

Well think again as Amanda Botfeld from Cardschat News brings us a reality check as Las Vegas casinos and Nevada gambling Commission reports that for 10 months straight - the casinos in the desert have made a billion dollars profit!

Unreal eh?

Check out the full article here - https://www.cardschat.com/news/vegas-casino-win-streak-10-straight-billion-dollar-months-107823/

Now thats what i call - making it big!

 

[odonob]

The house always wins. Payout for a casino of total income is usually1-3%, just to keep the punters coming back.

 

[DS3]

Substantial figures and a great comeback but I believe the figure are gambling revenues rather than profits.

 

[unadonk]

Think Poker is on the popularity and profit decline?

Most casinos want to get rid of poker if they havn't already.

 

[DS3]

Most casinos want to get rid of poker if they havn't already.

Well, the revenue stream from poker is solid for the large casinos but diminutive in terms of overall gambling revenues where slots provide 80% plus of such income.

Which staggers the imagination as the odds of winning anything at slots is close to zero. The best case scenario for a win is 5, 000 to 1 but the odds are general a lot worse than that. They are over 50 million to 1 to win a major jackpot.

Not being a gamber, I have never understood the slot attraction other than it generally being mindless. I assume if you have thousands spending millions playing the slots every day, the appearance given (with all the bells and whistles sounding 24 hours) is someone somewhere is the room is winning all the time.

 

[johnnylawford]

Think Poker is on the popularity and profit decline?

Well think again as Amanda Botfeld from Cardschat News brings us a reality check as Las Vegas Casinos and Nevada Gambling Commission reports that for 10 months straight - the casinos in the desert have made a billion dollars profit!

Unreal eh?

Check out the full article here - https://www.cardschat.com/news/vegas-casino-win-streak-10-straight-billion-dollar-months-107823/

Now thats what i call - making it big!

You'd have to separate profit by source to know where poker fits in those numbers, but I would imagine most of the profit is from general post-COVID traffic, cost cutting, and general anti-player policies that favour the casino. Poker rooms, like Craps tables, have a high labour cost for dealers, room managers, security, etc..., which is why they're both disappearing in Las Vegas casinos. If you look at casino profit margins slot machines have the highest profit margins as the only overhead is maintenance -even sportsbooks are getting cut back because of labour costs in favour of online platforms. I imagine a big part of this profit margin is as much about eliminating loss leaders like poker rooms, drink benefits and live tables, as well as increasing table limits as it is about overall revenue increases.

 

[7jules]

The house always wins. Payout for a casino of total income is usually1-3%, just to keep the punters coming back.

Don't believe that for a minute! if the pay outs where that low, no one would play!?!