Las Vegas Casinos: Hotel Rio, Main Floor Las Vegas Casinos: Caesars Palace, High Rollers Las Vegas Casinos: Hotel Excalibur, Main Floor Las Vegas Casinos: Hotel MGM Grand, Sunday Morning Las Vegas Casinos: Hotel Excalibur, Gambling Seniors Las Vegas Casinos: Hotel Excalibur, Sports Betting Las Vegas Casinos: Hotel Paris, Nickel Slots

Las Vegas, Nevada USA

Casinos

Las Vegas: Getting Around [part 1]
Las Vegas: Night [part 2]
Las Vegas: Nightlife [part 3]
Las Vegas: Day [part 4]
Las Vegas: Casinos [part 5]
Las Vegas: History [part 6]

Gambling Revenues

The heart of Las Vegas is gambling. As an example, at Caesar's Entertainment revenues are derived from gambling (72%), hotel rooms (11%), food and beverage (9%) and other (8%). Other revenue streams include shows, merchandise, and management fees. [Source: Caesar Entertainment's 2003 Annual Report]. Caesar's Entertainment includes: Caesar's Palace, Bally's, the Flamingo and Hotel Paris

House Odds

Las Vegas did not pioneer para-mutual betting, but it has set an expectation on losing. Most casinos have house odds between 92 and 98%. This means that customer payouts average 95-98 cents on the dollar. Certain draws and hands are set to be automatic house winners.

Roulette provides a simple example. In Roulette, there are 38 numbers, numbers 1-36, 0 and 00. When betting that a single number would be rolled, a 100% payout would be 38:1, but Las Vegas only offers 36:1, meaning that the House wins 1/18th of the time on each such bet.

House Odds: Roulette

Bet TypeAvailable #'sOddsHouse PayoutCustomer Payout
Bet on Number38 of 381 : 365.3%94.7%
Bet on Line36 of 381 : 15.3%94.7%

Amount Gambled: Hourly Take

Minimum BetSpins per HourActual OddsWagers per HourCustomer Hourly EarningsHouse Hourly Earnings
2 3094.7%$60.00 $56.84 $3.16
5 3094.7%$150.00$142.11$7.89
103094.7%$300.00$284.21$15.79

We can see that in Roulette, that the House wins 5.7% of the time. At a $10 minimum table with 30 spins per hour, a total of $300 will be spent. On average, $300.00=$284.21+$15.79 will be split $284 to $16 between the customer and the House.

Amount Gambled: Average Visit

Description $2 Table$5 Table$10 Table
Sub-Total Visit Hours 48 48 48
Hours for Sleep (16) (16) (16)
Hours for Dining (6) (6) (6)
Sub Total Available Houes 26 26 26
% Assumed Hours Gambling 50% 50% 50%
# Assumed Hours Gambling 13 13 13
House Take per Hour $3.16 $7.89 $15.79
Total House Take per Visit$41.05$102.63$205.26

On an average visit to Las Vegas, betting only Roulette creates an average loss of $205.26 per visit. The three assumptions used are: an average visit is 48 hours, 50% of waking hours are spent gambling, and each wager is $10. Even with a small bet of $2, the average loss incurred will be $41.05 per visit.



  • Stephan@RacingSquirrel.com
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  • 2004-2005, Stephan Lau-- Chicago Illinois USA