Just desserts!

[blackchipjim]

As far as I'm concerned the casinos are getting what they deserve. For years these joints have slowly eroded the base of customers that kept them in the black. With the economy in turmoil and less cash available for entertainment the money houses still try to stick it to the customers. Casinos are just getting a taste of the customer's disdain for ever increasingly poor games and rules. I hope the majority of the sobs go out of business to make way for a new era of the gaming industry. blackchipjim

 

[StudiodeKadent]

As far as I'm concerned the casinos are getting what they deserve. For years these joints have slowly eroded the base of customers that kept them in the black. With the economy in turmoil and less cash available for entertainment the money houses still try to stick it to the customers. Casinos are just getting a taste of the customer's disdain for ever increasingly poor games and rules. I hope the majority of the sobs go out of business to make way for a new era of the gaming industry. blackchipjim

The reason casinos have recently fell on hard times is the current economic recession. This recession, fundamentally, was caused by expanding credit far beyond the saving in the economy, creating a situation where businesses invested in long-term investments where consumers were preferring short-term satisfaction. Such a situation is inflationary (which usually scares central banks into raising rates, which didn't happen this time) and as such, the inflation (in this business cycle in particular) made it impossible to pay back one's subprime mortage, producing the collapse in the derivatives market which, in turn, stopped banks lending to eachother and thus produced the current credit crisis.

I agree with you that recently, casinos have been bastards towards the gamblers that patronize them. They mistreated and looked down upon their consumers. They overcharged them via high house-edges. A casino's health, ultimately, is in its players, and mistreating its players is a perfect recipie for stopping its players from playing.

However, to treat recent casino stupidity as the sole cause of current casino losses is macroeconomically unwise.

To be fair, I personally believe that the best casino policy is (note, here I am talking as an economist that wishes to make it possible for both casinos and intelligent players to coexist): 1) Very low house edges, 2) relatively generous comps, 3) some arrangement that rewards advantage players whilst allowing casinos to ultimately make a long-term profit, and 4) casinos being hubs of various different types of entertainment (bars, nightclubs, restaurants, whorehouses, stripclubs, variations on all of the above, etc).

3) is obviously the most complex point.

 

[Mimosine]

unfortunately for us this could go either way....

with less casinos out there, there is less competition and no incentive to make better games, since people will play BJ no matter how bad the rules.

 

[StudiodeKadent]

unfortunately for us this could go either way....

with less casinos out there, there is less competition and no incentive to make better games, since people will play BJ no matter how bad the rules.

In many ways I see merit in your case... many silly gamblers are out there... but if a casino offers just completely unfair rules (by the judgement of the masses) no one will gamble there. I think ultimately there is some eventual limit to rule-dementia... how much will the mass market take in an age of recession?

And ultimately, will the mass market's tastes change if we hand them basic strategy pamphlets outside their casinos? Non-market institutions can enhance things greatly...

Im thinking we could have someone outside casino X handing out casino X BS leaflets as well as casino Y (being the best casino in the area) BS leaflets. We could promote good rules.

 

[blackchipjim]

underestimations

I wouldn't underestimate the ability of the masses to turn a casino around. I know we talk about our game here but the other games are just as important and the slots are the mainstay of alot of casinos. I have listened to alot of people tell me they won't go to so and so casino anymore because the slots don't pay anymore. If one person feels this way and tells other people they in turn tell others and others and pretty soon the casino is heading down the slippery slope. The math of word of mouth can make or break a casino and it has proven itself time and time again. The casino survives on repeat business and if there is no repeat then there is no business. blackchipjim

 

[actuary]

I think its time for the casinos to introduce some new games. Freshen themselves up. New and innovative slot machines - we have seen amazing things with video gaming that they should be able to borrow from. There was discussion a few years back about skill-based slots, games you compete against other players in the casino. Now would be a good time to introduce these games. Also, new and exciting table games, (and that does not include a new "X-Card Poker" game).

As for lowering house edges and better rules, I really don't believe this is enough to solve their financial woes. The average casino player is playing slots, where the house edge is a mystery.

 

[Mimosine]

As for lowering house edges and better rules, I really don't believe this is enough to solve their financial woes. The average casino player is playing slots, where the house edge is a mystery.

It isn't that much of a mystery, I think it is up to 5% for pennys most places.

It is a huge portion of their income, granted leasing all those slots costs money and electricity, but goddamn for every seat at a table their are 100+ slots.

 

[Mimosine]

In many ways I see merit in your case... many silly gamblers are out there... but if a casino offers just completely unfair rules (by the judgement of the masses) no one will gamble there. I think ultimately there is some eventual limit to rule-dementia... how much will the mass market take in an age of recession?

....

We could promote good rules.

good thoughts....

there are some casinos i play at outside of LV where rules have mysteriously gotten better, but these joints aren't at risk of bankruptcy so perhaps they are in fact competing for slim buisness. (me guessing).

in vegas, if half the casinos disappeared, the remaining tourists and locals are still going to take a shot at blackjack, maybe not en masse if everything goes 6:5, but H17 no LS, or D9/D10 DD/SD probably won't bother most to the point where they wouldn't play whereas some of us COULDN'T play those games, who knows....

 

[Thunder]

Most players don't even know what the house edge is in the game they play. If they knew that H17 games are a lot worse than S17 games, they wouldn't ever play at H17 tables and would only play at the S17 tables in the same casino. Fact is, your average ploppie doesn't even research the game they play. I remember as young lad thinking I'd be good at BJ because I was good at math. This was before I even learned BS let alone how to count. I would think ok I should probably hit my 13 vs the dealer 5 because I'm not likely to bust and the dealer isn't either since the average card will be a little under 7. If only I knew back then what I know now. Knowledge as they say is power. Until everyone knows how the rules of BJ affect their wallet, the casinos will always have suckers lined up to play their card games. I still see people playing that stupid Texas Hold 'em card game that has an outrageous house edge. As long as there are stupid people, the casinos will always exist.

 

[Tarzan]

6 to 5 and carnival style texas hold'em

In my wanderings yesterday, I saw more than one 6 to 5 singledeck blackjack game that was staying busy with at least a few players. Many casinos have one of these tables. I think it's a grand experiment to see if they get enough marks...er..victims..uhm, er...PLAYERS to add more of these in time.

That new "Texas Hold'em tablegame" is another real gem. Sit back and watch how that fiasco goes (with others playing and not you, of course!). I'm unsure of the HA but I bet it's even worse than some of the other carnival games!

Something to note about these games. Do you think those clowns playing at that 6 to 5 blackjack table researched the added HA? Nope, I doubt it. People can be stupid and be raked over the coals by unscrupulous entites and that's just how it is. Even people that are NOT all that stupid can be conned... just ask Mr. Madoff!

Ever fall asleep in front of the television at night and them wake up to one of those infomercials that go on and on about making you millions selling something or how you can be a real estate millionaire practically overnight, etc.? Well, you don't have to research too very far to find out that they are scams and that consumer complaints are piled up to the moon against them. "Oh look! It's Tom Bosley from my favorite show from way back when, "Happy Days", therefore this MUST be a great deal and totally legit! Holy Jesus! The testimonials from everyone on this Russ Dalby amazo real estate system are out of this world! Look at THAT guy... he barely looks functional to be able to tie his own shoes and there he is, strolling out to the mailbox to pick up his array of checks totalling $45,000!

These operations have gone on for YEARS. Had any of the people that bought into these scams researched it even one little bit they would have found that they needed to stay as far away as possible. The people that buy bogus gambling systems, fall for "4-1-9" scams...the list goes on and on... there is apparently an unending supply of dummies to be duped. There HAS to be! Basic marketing---Supply and demand... if there was no demand, there would be no supply. If there was a supply that had no demand it does not stay in existence.

Games like these will stay around for as long as an uninformed public is willing to play them. If enough dummies line up to be duped, there will be greater supply... casinos are more than willing to take your money. If they could come up with a new and ridiculous game in which you walk up hand them your cash and everyone loses 100% of the time, I bet they would get at least a few "takers".

The best thing that can be done about the 6 to 5 blackjack game? Distribute pamplets to the gambling public that are otherwise too stupid to research anything. When you have a table game in which it is so pathetic that your chances of winning on a videopoker machine are MUCH better than playing it something is wrong. When you have people playing games these games avidly, something is obviously wrong with THEM!--- and perhaps I could sell them a gambling system or a get rich quick infomercial style real estate scam while we're at it? Why let the casinos be the only ones to rake them over the coals for all it's worth?

As casino business drops off, they become more desperate and try to gouge their player base a bit more. This of course backfires and they lose a portion of their customer base, leading to them having to try something new to gouge a few more percentage points. A vicious cycle occurs and they ultimately go under. On the part of gamblers and casinos alike, greed and stupidity will ALWAYS prevail over common sense.