[Video] How do Casinos make money?

[Patatas]

Just stumbled upon this video while surfing youtube out of boredom: https://www.youtube.com/watch?v=yXlLsg9t5jU&t=338s This really hits the spot and shows what really runs the gambling industry. No, it's not money addiction or the hobby to get rich. It's much more than that. It's very much psychological!

I don't know how much it's relevant to the online gambling scenarios but definitely worth checking it out.

[YuginKadoya]

Well The casino is a business establishment so what do you expect, A business needs to profit so they will sure do something to make a profit and even ending up a psychological technique to simply lure customers in playing in the casino, They will simply put what most people would like if not alcohol there will be beautiful women wandering around the casino and gamblers will accommodate them to impress them that they will make a win, But that's not the case because the house always wins and has a big edge in profiting than you, they will tend to exploit the weakness in the human brain to keep on playing, Well this video is very informative and can really help certain people who want to try to play on the casino.

[milewilda]

Thanks for the share up and i can say this is more psychological which i do really agree on what are the facts being pointed out on that infographics.

Just to point out some HE being mentioned on that video.

Slots HE- 17%
Keno- 25%
Blackjack - 0.8%
Craps- 0.8%
Baccarat- 1.06%

I fully agree on this line stated by a former dealer.

"I chose to leave because gaming exploits the negative characteristics of a human nature to extract as much money from each customer as fast and as frequently as possible."

This wont really be applicable on physical casinos but also on online casinos as well yet behavior can be seen either both sides.

[pixie85]

This reminds me of the way strip clubs operate. You might think that getting a lap dance is the most expensive thing and that clubs mainly make money from that and the tips, but no. People are focused on how much a dance costs more than on the price of the drinks and drinks are what makes it profitable for the club. They're at least 3 times more expensive than in a pub. Gamblers focus on the game they come to play, like roulette, but while they walk around they casually spend a while at a slot machine, order a few drinks, and don't even remember doing it because they came for roulette and that's all they think about all evening.

[beerlover]

If it is not really an "addiction" how do you really explain online gambling addiction where you gamble on your house.

Yes free drinks and women around and no clocks and really weird exit route and all of that is really keeping you in there to gamble as much as possible but in reality when you are gambling from your house you are having trouble leaving as well.

I know someone who goes to cyprus once a year and she goes there with a set amount of money to gamble, after all she goes there to spend money and have fun and she uses that money whilst getting free drinks and free food and so forth and really have the time of her life and in the end never spent more than what she arranged while going there.

However, we have all known people who have lost all their money at once at online gambling and while you are gambling on a casino you have to get up get dressed go there and spend money and if you lose all your money with you than even if you withdraw money from somewhere than you need to get up and do all of that again. Whereas playing online you can sit on your underwear and gamble millions of dollars easily with a click.

[Cacingkemi]

This is truly real about video,free or paid drinks still intoxicating and distracting while playing.Women also divert attention such as blinding the players' decisions so that they become greedy,different from online casinos which we really have to fear yeah,even though they get full trust but still fear when choosing in the wrong place.

[crwth]

The video itself is very informative with its infographics shows, and now I had subscribed to a new YouTube channel.

What I learned in the video is that the casino itself is really taking advantage of us and what the programmers of slot machines did, making small often wins that make you feel the same way as winning. It's so simple but so smart at the same time. They know how to take advantage of people who really want to gamble. Making you want to stay and just play all day. That's what all the freebies are for, and I have suspected that and this video somehow confirms it.

I think we just need to control and not play in the long run. Or not gamble at all. Lol

[SyGambler]

Just stumbled upon this video while surfing youtube out of boredom: https://www.youtube.com/watch?v=yXlLsg9t5jU&t=338s This really hits the spot and shows what really runs the gambling industry. No, it's not money addiction or the hobby to get rich. It's much more than that. It's very much psychological!

I don't know how much it's relevant to the online gambling scenarios but definitely worth checking it out.

yeah of course , in general these techniques make the gamblers kinda stay more and if the gamblers stayed more that means they will most likely wager more which leads to more profit ( in theory )
but we can't just say they make money due to that cause the main reason they make money is because of HE  , but these techniques mixed with HE means the site will have more and more profits

[yoseph]

The video itself is very informative with its infographics shows, and now I had subscribed to a new YouTube channel.

What I learned in the video is that the casino itself is really taking advantage of us and what the programmers of slot machines did, making small often wins that make you feel the same way as winning. It's so simple but so smart at the same time. They know how to take advantage of people who really want to gamble. Making you want to stay and just play all day. That's what all the freebies are for, and I have suspected that and this video somehow confirms it.

I think we just need to control and not play in the long run. Or not gamble at all. Lol

Not gambling seems to be the obvious choice here but there comes a time when you are going to have no option but to go to the casino and hope that your luck shines for just a single moment for you to win.But alas Luck is unpredictable like the ocean.

[eternalgloom]

Well, all casino's are in in for the money, that's just a fact.
That doesn't mean that there aren't somewhat ethical casino's around.

Take Crypto-Games for example, since we both have it in our signatures

That's a partially crowdfunded casino and I do not think they have any of those shady tactics to get players hooked, apart from it just being gambling of course.

Lets see:

• Way lower house edge than those shown in the video
• I don't think they've programmed near misses into their games
• They will shut down your account and ban your IP address when you ask for it (in case of addiction)
• No addiction inducing bonuses with rollover requirements

I'm sure that there are more reasons, but just wanted to show that it can be done differently.

[Bardman]

Obviously casinos want money but you can also profit from them investing or through referrals. Both are great options to get a good amount of money, referrals specially, it's a fairly simple way of getting passive income, as I was saying in another post, I got like 20-30 EOS total with EOSPlay thanks to refs and I'm sure you can earn more

[leowonderful]

Obviously casinos want money but you can also profit from them investing or through referrals. Both are great options to get a good amount of money, referrals specially, it's a fairly simple way of getting passive income, as I was saying in another post, I got like 20-30 EOS total with EOSPlay thanks to refs and I'm sure you can earn more

Investments in crypto casinos are usually pretty profitable, as long as you're not excessively using leverage and you're investing reasonable amounts of money that you can afford to lose, but I've never had much luck with referrals as I haven't ever found a good place to advertise my referral links. I know some people do make decent amounts of money from refs, but I've always been good with investments, especially with newer casinos. There are even threads around here detailing how some people have made money from investing in casinos and the weekly/monthly performance of their investments.

[crwth]

~snip
Not gambling seems to be the obvious choice here but there comes a time when you are going to have no option but to go to the casino and hope that your luck shines for just a single moment for you to win.But alas Luck is unpredictable like the ocean.

In my opinion, if you really have the hots for gambling, or have the drive to play in a casino then you only have that choice. It's up to you if you are still willing to risk it. For me, it's no harm if you just do it occasionally and not making it a true hobby. It's like saying that you always gamble, and we all know what happens if we continuously gamble... we lose.

[avikz]

~snip
Not gambling seems to be the obvious choice here but there comes a time when you are going to have no option but to go to the casino and hope that your luck shines for just a single moment for you to win.But alas Luck is unpredictable like the ocean.

In my opinion, if you really have the hots for gambling, or have the drive to play in a casino then you only have that choice. It's up to you if you are still willing to risk it. For me, it's no harm if you just do it occasionally and not making it a true hobby. It's like saying that you always gamble, and we all know what happens if we continuously gamble... we lose.

That's true! It harms if it becomes a habit but does no harm if we do it occasionally. We should all be taking gambling as the way of entertainment just like the way we spend on travelling. You get a budget and time, go to gamble or to adventure sports, once your budget is done, you come back. Problem starts once you try to overdo it and greed takes over your decision making power.

Till the time we gamble for entertainment, it is good. We also need to understand that gambling is a business and it runs on profit. So if we are looking at gambling as a method of making money, we are doing it wrong at the first place. Then we start blame gambling for our own losses. 

[teilwalL05]

In my point of view casino's would definitely do that, It will make a way in diverting your focus just to the game itself, it diverts some things to let you know that you are truly welcome inside the casino, It will surely motivate you to play even more, I really think this is some strategies that casino would surely do to really keep you on your feet and just staying and betting, Well if this is the case you still do have a free will to really get out from it or just stay and continue to waste money it is really up to you if you would do it or not.

[onrise]

In my point of view casino's would definitely do that, It will make a way in diverting your focus just to the game itself, it diverts some things to let you know that you are truly welcome inside the casino, It will surely motivate you to play even more, I really think this is some strategies that casino would surely do to really keep you on your feet and just staying and betting, Well if this is the case you still do have a free will to really get out from it or just stay and continue to waste money it is really up to you if you would do it or not.

It is for us to understand that if winning from gambling is so easy then how will casinos owner get so much money that they can distributive to others. If they do not make money how will they run their business, give free beverages , such great atmosphere with good architecture etc. They will make money from us only and through some tricks.

[8Habits]

Thanks for the share up and i can say this is more psychological which i do really agree on what are the facts being pointed out on that infographics.

Just to point out some HE being mentioned on that video.

Slots HE- 17%
Keno- 25%
Blackjack - 0.8%
Craps- 0.8%
Baccarat- 1.06%

I fully agree on this line stated by a former dealer.

"I chose to leave because gaming exploits the negative characteristics of a human nature to extract as much money from each customer as fast and as frequently as possible."

This wont really be applicable on physical casinos but also on online casinos as well yet behavior can be seen either both sides.

nice notes there from the video mate.
I think it only shows that the more emotional you become, the more you are really prone to losing because the system is already designed to win due to the house edge advantage.
But we are just human beings and that is the sad truth that addicted to gambling is getting through as of this very moment.

[Betwrong]

Thanks for the share up and i can say this is more psychological which i do really agree on what are the facts being pointed out on that infographics.

Just to point out some HE being mentioned on that video.

Slots HE- 17%
Keno- 25%
Blackjack - 0.8%
Craps- 0.8%
Baccarat- 1.06%

I fully agree on this line stated by a former dealer.

"I chose to leave because gaming exploits the negative characteristics of a human nature to extract as much money from each customer as fast and as frequently as possible."

This wont really be applicable on physical casinos but also on online casinos as well yet behavior can be seen either both sides.

This is an interesting video, and you did a good job on pointing out those house edges. I just want to add the HE on the Roulette table, which was also mentioned in the video (so maybe you can add that to your post by editing):

Roulette HE - 5.26%

In the same part of the video, just a bit later, they say an important thing which, from my experience, some gamblers can't grasp.

If you take that aforementioned percentage, it means that for every $1 Million bet the casino will take about $50,000.

The casinos don't want you to lose all your money to them. Actually they don't care whether you are losing or winning, because in any case they will get their house edge and will be in profit. What they really want is that you wagered as much money as possible, and everything, the design of the games, the free drinks, the hot girls around etc. is serving that purpose. In a lucky based game a drunk person can win just as likely as a sober one can, so they don't give you those drinks to make you lose, but rather to make you stay there longer.

[kryptqnick]

Just stumbled upon this video while surfing youtube out of boredom: https://www.youtube.com/watch?v=yXlLsg9t5jU&t=338s This really hits the spot and shows what really runs the gambling industry. No, it's not money addiction or the hobby to get rich. It's much more than that. It's very much psychological!

I don't know how much it's relevant to the online gambling scenarios but definitely worth checking it out.

Yeah, I watched this video before. I think that it is mainly focused on the specifics of land-based casinos, though. Online experience is different. Nobody can offer you free alcohol or walk around in a mini-skirt. I think that online casinos profit from house edge and human behaviour. Even when we have 50/50 chances of winning, I think we lose a lot more often, because of not being able to stop on time. You win, but you keep going instead of backing out, which eventually makes you lose everything. The feeling that it cannot go like that forever and luck will meet you out there at some point is making us lose more and more until we are broke. I do hope, though, that it's true that actually no more than 10% of gamblers are addicts.

[El duderino_]

Just stumbled upon this video while surfing youtube out of boredom: https://www.youtube.com/watch?v=yXlLsg9t5jU&t=338s This really hits the spot and shows what really runs the gambling industry. No, it's not money addiction or the hobby to get rich. It's much more than that. It's very much psychological!

I don't know how much it's relevant to the online gambling scenarios but definitely worth checking it out.

i'm a very regular player "poker" not to much gambling and its very true, very much is psychological, to have the best feeling ever inside, even when you lose and to be down money, they try to keep you inside to lose more.... inside a casino you never have a feeling of time or whatever, like when you go inside @clear day, you will never know if its dark outside or raining or whatever inside its always sunny and fun.... also not the exit and table settings very accurate
in belgium when i played cash game  in the casino of NAMUR, the poker tables closed always @ 3 in the night, while the roulette and other gamble games stayed open till 4.30 or something, offcourse all the dumb poker players lose some there
etc
very good video