Have you ever wondered how casinos make money? If you look at the situation from the outside you might think that the money that casinos makes must be highly based on luck, but it isn’t so, the profits booked by casinos are actually pretty standard and only see a spike or a dip during the off season and the holidays. But how is it so? surely if most of the games are luck based and one day it isn’t the casino’s luck it should go into losses right? Wrong. The tactics used by casinos is based on mathematical models and some smart business decisions which involve the phycology aspect of the human brain. How they do it is actually pretty neat. One of the reasons why real life casinos are still extremely profitable and people try to open casinos every year even with the increase in popularity of games like poker online or Ceme Online, is the fact that online websites cannot ask you to physically spend money on other stuff while you are playing.
EVERYTHING ELSE OTHER THAN THE GAMES
One of the biggest sources of income for the casinos is actually the money people spend on food and beverages, surely if you are going to spend so much money gambling you will need liquid courage right. And the cost of alcohol inside casinos is highly inflated. The way it works is that you need courage to keep gambling and once you start drinking you don’t mind spending more money on food and drinks, especially coupled with that adrenaline rush of losing or winning. There are other places in a casino which charge more than the same thing available outside, but they convince you to spend the money.
THE HOUSE ALWAYS WIN
You might think that the games being played inside the casino are largely based on luck and for most part they are, especially if you are not experienced or professional player. Even in games such as the slot machines, because they are designed by the casino themselves the odds will always be in their favor. In card games, it is very few people who win, that’s why they are called lucky people but most people who lose don’t lose to other players or dealers, they lose to the casino itself. Every day there might be 10-20% maximum number of people who walk away with a profit, once people start losing they end up spending more money because of the illusion that their luck with turn around which it never does, and the people who win will spend all the winnings trying to increase their winnings, at the end very few people actually walk out of the casino with more money they came in with.
OTHER COSTS
A lot of casinos especially in places where people don’t spend so much inside will have entry charges, it means that even if you spend an additional buck, you will be charged just for the entry.
