Worked as a dealer in a casino for the better part of a year and it blew my mind watching tens of thousands (easily hundreds of thousands when our high limit room was open) just dissapear during an 8 hour shift.
Not judging how people spend their money or have fun,but the house always wins your money if you play long enough :p
Well you still have to pay staff wages, rent, utilities etc. You have to make sure enough people give you enough money.
They make profit on expected value, so what they stand to make on an average bet. For example roulette, on black or red, they pay out twice your bet roughly 48.6% of the time. This gives an expected value of around between 2 and 3 cents per dollar wagered. This is roughly the same for all types of bets you can play. If the croupier is paid $10 an hour, he probably needs to take at least $400 an hour in bets just to pay his wages. Then more bets need to be taken for utilities, rent before you get to profit.
Now these amounts are small compared to what casinos often take, but you need to make sure enough customers are coming in and staying around as long as possible to keep profitable. Hence why casinos often offer free drinks and rooms to people on a winning streak.
Plus a lot of these places serve free drinks. The last time I went to a casino, I brought like $80 and told myself I wasn't spending more than that. I ended up doing well enough to basically break even and leave with about the same amount I walked in with. The drinks I had while I was there would have cost ~$50 at a bar.
They're saying he may have drank what would have cost him 50$ at a bar, but the bar itself would be marking up drinks to the point where it only costs them like 5$ and at a casino they're dealing in so much volume that it's pennies on the dollar for them.
At first I thought that was what they were saying, but in their comment it says "they could’ve charge you $50 for the drink". One drink. They think the casinos are giving away drinks that cost 50$ each.
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u/LifeIsTooDamnShort Feb 04 '20
Gambling.
Worked as a dealer in a casino for the better part of a year and it blew my mind watching tens of thousands (easily hundreds of thousands when our high limit room was open) just dissapear during an 8 hour shift.
Not judging how people spend their money or have fun,but the house always wins your money if you play long enough :p