The casino usually wins in the long run, due to the thoroughly calculated “house edge”. It is all mathematics.” Well, statistics, to be precise. As Nico Zographos, dealer-extraordinaire for the ‘Greek Syndicate’ in Deauville, Cannes, and Monte Carlo in the 1920s observed about casino gaming: “There is no such thing as luck. One may think that casino owners are betting people too, putting the success of their business at stake. However, bets also often pay off for the gamblers. When they lose, the money bid goes to the casino. People place bets in various gambling games. Are you? How do casinos make money?Īt first sight, the answer seems clear. ![]() So, how prosperous are casinos really? PaySpace Magazine’s team is eager to know that. Just to put it into perspective, last year, the American Gaming Association estimated that $150 billion was gambled around the world per year in legal and illegal settings. They are a symbol of the city, one of its main attractions, and a magnet for betting people from all walks of life.įor sure, people who love to test their luck are numerous. And yet, Las Vegas casinos seem to defy all the prejudice. Most people stay away from such places, being prudent about their hard-earned money. They are treated as high-risk enterprises when applying for a loan or other financial services. Gambling businesses have always been on the shady side of economies. ![]() How much money do Las Vegas casinos make? Source:
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |