Since the dawn of human civilisation, people have been attracted to gambling, which is why the billions of dollars in profits it generates are not a fluke, but a well-calculated business. But where does the profit come from when huge sums are also spent on winnings?
What do casinos earn and where are the richest casinos in the world? Find the answers in this article.
Why is gambling so profitable?
Gambling is profitable because people are willing to put more and more of their money at stake. Probably also because in the 21st century, in the developed world, it is relatively easy to make money and there is not only time but money to spend on entertainment.
But alongside the casino’s revenue, players are also getting bigger and bigger wins. The wise gambler will bet only enough to keep his other life intact and his bills paid. The internet is full of tutorials on how to be a better gambler, and you can also practice your hand with free games. So, in addition to smart casinos, many players are also smart.
How big a casino’s edge is in each game also plays an important role. If it seems to you that every player’s win is the casino’s loss, it’s not. There is one big difference between a casino and a player. Namely, the casino’s advantage secures a return over a long period of time, while the player’s advantage secures a return over a short period of time. The casino is one, but the players are many. Each puts a certain amount of money into the game, some wins and some loses. The money that is lost stays with the casino. There are millions of players in the world and most of them lose.
We can say under a veil of secrecy that the game where the casino has the smallest edge is blackjack.
The richest casinos
How do you know which casino has the most money? By the revenue of the owners. The Venetian Hotel and Casino in Las Vegas is currently the world’s most profitable casino. In order for a business to be successful, a number of different factors need to coincide, which, over time, will also generate revenue for the owner. The wealth of the owner of this casino is estimated at USD 22 billion.