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| Profit
Margin |
Despite
these figures, one can't find a craps table in a
well run casino that doesn't give the house at least
a 20 percent profit margin. And the same holds true
for most blackjack tables.
There seems to be no way that the casinos can make
so much money. Yet casinos around the country are
coining untold millions in profits every month,
and the leading casinos in Nevada are getting so
rich that they continually expand their operations.
What's wrong?
A clue to the situation came from the president
of a Strip hotel, who was looking over his computer
runs on the daily volume of gambling and win figures
one afternoon.
"Sure,
gamblers will tell you that they'd love to win a
million at the table, but it's not what they win
at the table that counts with us, it's what they
leave the table with. And for some reason, maybe
it's inherent in the gambler's psychology or whatever,
they don't want to leave with money. If they beat
us out of fifty grand at one session, which is really
a big win considering our limit at craps, they'll
gamble on till they give it all back. And if they're
losing, they'll go on and on, losing and signing
markers all night long till they're destroyed, literally
destroyed.
"And
the strange thing is, no one forces them to play
like this. We don't even have to talk up our games.
We don't have to drag them to the table with nets.
They come willingly, and when they’re at
the tables, they act like wild men. We don't know
why gambling does this to them, but it sure does
it, whatever it is. I'm not a psychologist; I'm
just in the gambling business, and it's one business
that's easy to get customers for-they'll break
down the doors to lose their money."
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