Are casinos really getting greedier?

[Thunder]

I think it's a common perception that the casinos are getting greedier compared to how they were in the past but is this really true or is it more a function the players getting much better? Does anyone have evidence of say their BJ holds now vs circa 10 or 20 years ago?

 

[Machinist]

I think it's a common perception that the casinos are getting greedier compared to how they were in the past but is this really true or is it more a function the players getting much better? Does anyone have evidence of say their BJ holds now vs circa 10 or 20 years ago?

MMMM thunder.... most of their revenue comes from slots....Its their bread and butter!
Hmmm i wonder why there are more carnival games than of the years past???? Hmmm i wonder why???:laugh::laugh: Could it be the 5 to 10% hold without a proper strategy???
BJ same ole same ole crap, but people still love the game........

Machinist

 

[shadroch]

I think it's a common perception that the casinos are getting greedier compared to how they were in the past but is this really true or is it more a function the players getting much better? Does anyone have evidence of say their BJ holds now vs circa 10 or 20 years ago?

Twenty years ago, casinos didn't come with two billion dollar construction costs. I've read in several places that the two most profitible casinos on the Strip are Harrahs and Circus Circus. Both were paid off years ago and have a very small monthly nut, as oppossed to places like Wynn and Mirage that have huge bank loans to pay back.

 

[Renzey]

I think it's a common perception that the casinos are getting greedier compared to how they were in the past but is this really true or is it more a function the players getting much better? Does anyone have evidence of say their BJ holds now vs circa 10 or 20 years ago?

My observational opinion is that typical players today are just as weak as 20 years ago. I guess its probably because of customer attrition, turnover and a new ploppy being born every day.

 

[aslan]

My observational opinion is that typical players today are just as weak as 20 years ago. I guess its probably because of customer attrition, turnover and a new ploppy being born every day.

The amount of play at the slots alone demonstrates the large number of unsophisticated gamblers who frequent the casinos. Funny how in our society, if you use a fly swatter, its considered armed robbery, but if you use fly paper, it's called a legal casino.

 

[Automatic Monkey]

I think on the moral level they have always been equally greedy, but recently they have been treating players like suckers instead of losers, which has not yet been demonstrated to be more profitable. Casinos made plenty of money back when they offered single-zero roulette and 0.18% and 0.19% pitch blackjack.

 

[aslan]

I think on the moral level they have always been equally greedy, but recently they have been treating players like suckers instead of losers, which has not yet been demonstrated to be more profitable. Casinos made plenty of money back when they offered single-zero roulette and 0.18% and 0.19% pitch blackjack.

But as Shad pointed out, in former days they were not shackled by such enormous debt. They seem to be trying to squeeze every drop possible during these bad times, which may have an unintended consequence.

 

[Sucker]

Twenty years ago, when the casinos offered somewhat fair games; the gaming business was known as a "recession-proof" industry. This is no longer true. The casinos have become victims of their own greed.

 

[Billy C1]

Most games are worse!

The EV for Blackjack has dropped (6/5 BJ and CSM's are just two examples) and diligence is required to find decent video poker games.
Renzey says another ploppy is born daily and P.T. Barnum said a fool is born every minute.
Those are both VERY, VERY conservative estimates. That fact allows the casinos to get away with terrible games and gives them NO reason to change.

BillyC1

 

[aslan]

The EV for Blackjack has dropped (6/5 BJ and CSM's are just two examples) and diligence is required to find decent video poker games.
Renzey says another ploppy is born daily and P.T. Barnum said a fool is born every minute.
Those are both VERY, VERY conservative estimates. That fact allows the casinos to get away with terrible games and gives them NO reason to change.

BillyC1

All the more reason to educate ploppies as to the real risks, odds, chances of winning in a casino. Otherwise, why should the casinos not continue to raise their edge until there is no more possibility for a player to win in the long run? If I had my way, even slot machines would have a skill element, or else be required to post, "There is no chance to beat this machine in the long run; it is for entertainment purposes only. House edge equals ____%." Can you imagine government requiring casinos to post this "nutritional" information. lol Then government would have to declare, "The Inspector General has determined that we do not pay off anywhere near the correct odds for winning the daily number or any of the lottery games we offer. Odds of winning are prohibitive. You are better off saving your money." But once they went down the road of collecting revenues through gambling, they became bed partners with the casinos, only the casinos actually pay better odds, as do the illegal bookies everywhere.