Quote:
Originally Posted by Schneed10
After all, a 92% payout means they earn eight cents per dollar played. That's how they roll.
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Exactly.
This is the proper way to look at it. Every dollar you spend THEY MAKE 8 cents.
Extrapolate this over a large sample and it shows the picture.
Casinos in Vegas traffic close to $100,000,000 a DAY. The 92% being talked about is actually a relatively GOOD payout for a casino game. And let's be honest, all the games are in the end the same. You are betting on something happening that is more than likely NOT going to happen. That is the house advantage. If you use the 8% as the MAX the casinos are winnig (and it is probably very far from the max. They are actually probably pulling in the nieghborhood of 13-17%) Then vegas casinos make 8 MILLION DOLLARS A DAY. That is a normal day. A big day like Superbowl Sunday or a fight day and they are easily clearing 30 mil. It is how they stay in busniess. It is how the can afford to comp so much. It is how winning at roulette as a rule is impossible.