How Do Casinos Make Money
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Written by Jack Jones - Google +
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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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.
Entropy is one of Physics Foibles. If you understand Entropy you understand probability and why casinos win.