How Do Casinos Make Money


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It seems pretty obvious that casinos make money. I mean how else would they build the fancy hotels and spend so much money luring the player into their pits. There are some of you out there though who look at this and still don’t understand how it is done, so this article focuses on how casinos make their money.

Casinos make money on their games because of the mathematics behind the games. The house has a well-calculated advantage on each and every bet wagered. If they didn’t have this edge working in their favor, we’d all have to find a different form of adult entertainment because casinos wouldn’t exist. With these percentages working in their favor, a casino is always guaranteed to win in the long run.

No one better described this than the fictional casino boss, Gronevelt, in Mario Puzo’s famous novel, Fools Die, when he pragmatically stated: “Percentages never lie. We built all these hotels on percentages. We stay rich on the percentage. You can lose faith in everything, religion and God, women and love, good and evil, war and peace. You name it. But the percentage will always stand fast.”

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About the Author: Jack Jones has been ranked in the Top-5 on the Overall Leaderboard for almost all of 2012 here at Betfirms. He has climbed as high as No. 2 while competing against roughly 80 of the best handicappers in the world. He finished as the No. 6 Ranked Basketball Handicapper from 2011-12, which combines pro and college hoops. His $1,000/game basketball players cashed in $22,310 last season. Head on over to Jack's premium pick page to see what he has in store for tonight!
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Comments

2 Responses to “How Do Casinos Make Money”

  1. Alan Deutschmann

    I have been going to Las Vegas for 35 years………. Re: Oxygen When you walk into Ceasars Palace DEAD TIRED at 3am by the time you walk thru the front door and by the dice tables you become revitalized………….. It is not from the excitement………….that you stay up another 3 hours beyond your will………. Explain to me what else they are doing……….if you say it is not oxygen???? Further more explain to me why the dealers union made a big issue about their health concerns relating to the pumped in oxygen a few years back… No I do not expect a return email……. Alan D.

  2. Melvin Goldstein

    Entropy is one of Physics Foibles. If you understand Entropy you understand probability and why casinos win.

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