Do you think casinos are losing money from all the gamblers or do you think they are gaining?
2007-02-03 09:52:35 · 10 answers · asked by Elizabeth 2 in Games & Recreation ➔ Gambling
Absolutely not. All games you play against the house have the percentage edge going to the house. It is simply a matter of math that all money brought into a casino will eventually be won by the casino. And games like poker- where the house does not have a stake in who wins- the house takes in what is called a rake so a certain percentage of all pots goes to the house. A pure casino therefore has absolutely no interest in cheating its patrons; the money is theirs. It has every interest to keep people from cheating them. Even counting cards- which is not illegal- is banned simply because it brings the odds too much in favor of the player.
2007-02-03 14:30:23 · answer #1 · answered by wanfuforever 4 · 1⤊ 0⤋
Owning a casino is a license to print money. As an example, when the Venetian in Las Vegas first opened, they estimated that it would take 5 years to pay off the building loan. They paid it off in 10 months.
For every person that wins $1000, there are 100 people who lose $100. So they net about $9000. Not a bad deal, huh?
2007-02-03 10:30:51 · answer #2 · answered by jamie B 2 · 1⤊ 0⤋
Casinos are on the winning end of gambling. How do you think they build and pay for those billion dollar hotel casinos in Las Vegas? Yes, people win but the odds are that eventually everyone will lose.
If you are interested, look at the Yahoo or NY Stock Exchange and follow the "big 6" in gaming in NV - Boyd (BYD), MGM Mirage (MGM), LV Sands (LVS), Harrah's Entertainment (HET), Station Casinos (STN), Wynn (wynn). There are others but when you watch the price to stock go up and up and read about dividends, you will know that the gaming industry definitely makes money.
2007-02-03 10:39:01 · answer #3 · answered by banananose_89117 7 · 1⤊ 1⤋
Have you ever been to a casino? 1 out of 1,000 people win (guesstimate) and not the big mega jackpot. I went to Jackpot and the whole time I was there I only saw one winner. One winner in about 8 hrs of people feeding the slots. Casinos are big money makers, don't let anyone fool ya.
2007-02-03 10:07:50 · answer #4 · answered by FireBug 5 · 0⤊ 0⤋
nope they definitely make money
people want to make money not lose it
think about it who would open a casino if they are going to lose money i sure as hell wouldn't
2007-02-03 10:33:41 · answer #5 · answered by silver_princess16_03 4 · 0⤊ 0⤋
1
2017-03-02 09:06:30 · answer #6 · answered by Cory 3 · 0⤊ 0⤋
casinos are not losing money but if they were they would not be here today
2007-02-03 10:03:07 · answer #7 · answered by robcud232 2 · 0⤊ 0⤋
they are losing money from expert gamblers. they are gaining money from stupid gamblers
2007-02-03 14:34:01 · answer #8 · answered by Anonymous · 0⤊ 0⤋
no
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2007-02-03 11:34:55 · answer #9 · answered by Anonymous · 0⤊ 0⤋
no
2007-02-03 11:56:10 · answer #10 · answered by Anonymous · 0⤊ 0⤋