Pennsylvania online gambling has reached biggest success within public, promoting numerous events and games. It is 100% legal and secure. If Vegas is mecca for rich people, spending thousands on hotel, planes and restaurants, we can call PA online gambling is a starting point for everyone. According to the Las Vegas Convention and Visitor Authority Visitor Profile Study (which we cited in a recent question about first-timers), visitors to Las Vegas had an average gambling budget in 2016 of $619.01, up from. $484.70 in 2012. $529.57 in 2013. $530.11 in 2014. And $578.54 in 2015. If you’re gambling in Vegas, there’s a huge chance there will be free drinks, snacks and rewards programs you can take advantage of. First, let’s address the rewards programs. For most casinos, you can take a few minutes to sign up for a rewards program that allows you to receive exclusive perks.

1. How To Make Money In Vegas Gambling Sites
2. How To Make Money In Fallout New Vegas Casinos
3. Easy Money Las Vegas
4. How To Make Money In Vegas Gambling Game

Everyone who goes to Las Vegas wants to make a million, right? You play the slots, spin the wheel, or raise them high in high stakes poker – whatever your game, you want to win and win big.

But other than sheer luck, just how can you do it? How can you go to Las Vegas and come away with millions in your pocket?

Well, here are 7 ways you might like to try:

1). Doorman’s Delight

Last time I was in Las Vegas, I saw some guy showing off his brand new Maserati to an excited group of doormen. Turns out the guy with the Maserati was also a doorman. He’d earned so much in tips that he was able to buy himself a shiny new $100,000 car.

When high rollers leave the casino after winning big, they’re eager to get back to their hotel and party hard. Unfortunately, their pockets are stuffed with nothing smaller than $100 bills, which they throw the doorman’s way as if it’s confetti. If you’ve just won big, it doesn’t seem like real money, so you’re happy to throw it around until the endorphins wear off! Who benefits? The doormen!

Tip: try to be a doorman at the more exclusive casinos. Mandalay Bay’s good – Circus Circus less so.

2). Taxi’s Tip

Taxi drivers take the Doorman’s Delight to the next level by stating clearly on their cab that they can’t give change for anything more than $5. Seriously, when was the last time you even had $5 in your pocket?! So if you show them a $100 bill, they’ll smile, point to the sign saying “nothing more than $5” and pocket the whole $100.

Again, the high roller is unconcerned by this dramatic scene of uber-inflation, so keen is he to get back to his hotel and let the party begin. The taxi driver thus whisks him off to his destination, with a nice little bonus of 10 times the normal taxi fair in his pocket.

3). House!

Been to Vegas and tipped the cocktail waitress? She could be worth more than you! Legendary Australian billionaire and high roller Kerry Packer was in free-spending mode one night after winning big at the MGM Mirage. He asked the cocktail waitress if she had a mortgage. “Bring it in tomorrow and I’ll pay it off for you” he said. True to his word, her $150,000 mortgage was paid off in full the next day.

4). Do what the Dealer’s do: Deal!

When you win big, the endorphins and adrenaline kick in, and largesse takes over. Who’s the first person you see? The dealer! Good dealers at the top hotels such as the Wynn earn $100,000 a year, mostly in tips. Baccarat dealers earn the most, followed by blackjack and then craps dealers.

Sometimes, though, the dealers really hit the jackpot, just for doing their job. After losing $6 million in six hours at the Bellagaio, Kerry Packer (yes, him again!) tipped one dealer a cool $1 million.

So even when losing, some high rollers just can’t help splashing their cash!

5). The Poker God

Of course, the more traditional way to make your millions in Vegas is to wiin big at poker – but to do this, you have to be a poker god. One of the more enduring legends around the Vegas casino is Archie Karas, who in 1992 – 1993 nearly destroyed Binion’s Horseshoe cashino by firstly defeating 15 of the world’s greatest poker players, and running amok at craps.

At one point, he had possession of the Horseshoe’s entire stock of $5,000 chips. He left having won a total of $17 million after starting off with just $10,000 – which he’d borrowed from a friend!

6). Gambling Grannies

The Megabucks slots are where the real money is to be made in Vegas. Strangely, though, most of the winners are pensioners.

Elmer Sherwin, for example, won $4.6 million and followed that up with a win of $21 million 21 years later. He was 92 when he won his second jackpot.

Then there was Amy Nisimura who won $8.9 million on a Megabuck slot machine at the Freemont hotel. She was 71.

Indeed, the only deviation from this trend is the 25 year old anonymous guy who spent $100 at the Excalibur’s megabucks slot machine in March 2003, and came away with $39.7 million. Lady luck was clearly shining on him that night.

So it seems that if you want to win big in Vegas, take your Gran with you, get her to play the Megabucks slots, and she how high she can roll!

7). Casino Cash

Of course, everyone knows the only guaranteed way to make your millions in Las Vegas is to own your own casino, which is exactly what Venetian owner Sheldon Adelson did. Unfortunately, no-one told him when to stop.

Adelson’s story is one of astounding business acumen. He began by creating the computer industry’s premier trade show, Comdex, where he rented space for 15 cents a square foot and sold it on to the exhibitors for an incredible $40 a square foot! He sold this cash cow to Japan’s softbank for $862 million in 1995.

Not content with nearly $1 billion in the bank, though, Adelson decided to pour his money into Las Vegas, and came up with the idea of a mega-hotel and casino based on the canals of Venice. Thus, the Venetian was born, with incredible attention to detail that included a canal running all the way through the hotel.

In order to build the Venetian, Adelson first bought the legendary Sands hotel for $128 million, and promptly demolished it. He then lavished another $1.5 billion on the site in the construction of the Venetian, which was the first hotel in Vegas to be all suites. At the time, this decision was laughed at by the rest of the casino owners, but Adelson is the one laughing now, as the Venetian is hugely successful, and many other new hotels that are being built are also all-suites.

Still not knowing when to stop, though, Adelson has continued, and is in the process of building the Palazzo next to the Venetian. Costing nearly $2 billion, the combined Palazzo-Venetian complex will contain over 7,000 suites, and will become the largest hotel in the world.

And then there’s the other casinos that he’s built in Macau, which is fast becoming the Vegas of the East. In 2004, he built the Sands Macau casino for $265 million – and recouped the entire investment in just one year! So he kept on building, investing another $6 billion in Macau and a $3.5 billion casino in Singapore.

All this savvy casino-building has earned Adelson an astonishing $20.5 billion fortune, making him the 15th richest man on earth.

Want to know how to make a million in Vegas? Buy yourself a casino – it’s the only dead-cert in town!

[Source: Forbes, AssociatedContent, ReviewJournal, CasinoCityTimes]

How prosperous Las Vegas casinos really are?

How much money do Las Vegas casinos make? Source: unsplash.com

Gambling businesses have always been on the shady side of economies. They are treated as high-risk enterprises when applying for a loan or other financial services. Most people stay away from such places, being prudent about their hard-earned money. And yet, Las Vegas casinos seem to defy all the prejudice. They are a symbol of the city, one of its main attractions, and a magnet for betting people from all walks of life.

For sure, people who love to test their luck are numerous. Just to put it into perspective, last year, the American Gaming Association estimated that $150 billion was gambled around the world per year in legal and illegal settings.

So, how prosperous are casinos really? PaySpace Magazine’s team is eager to know that. Are you?

How do casinos make money?

How To Make Money In Vegas Gambling Sites

At first sight, the answer seems clear. People place bets in various gambling games. When they lose, the money bid goes to the casino. However, bets also often pay off for the gamblers. One may think that casino owners are betting people too, putting the success of their business at stake. However, it’s not true. As Nico Zographos, dealer-extraordinaire for the ‘Greek Syndicate’ in Deauville, Cannes, and Monte Carlo in the 1920s observed about casino gaming: “There is no such thing as luck. It is all mathematics.” Well, statistics, to be precise.

The casino usually wins in the long run, due to the thoroughly calculated “house edge”. It’s also known as the casino advantage. That edge exists on every table game, lotto, or slot in a casino online or on land. The stats don’t depend on the casino establishment, these are purely mathematical odds of the game itself. The house edges for the most popular games vary from 0,5% to 40%.

How To Make Money In Fallout New Vegas Casinos

In addition, individual casinos get more income when they find a method of increasing their house edge, the amount of time on each game and the average bet size. Therefore, the minimum amount is required in most table games. The maths is simple, the casino expects to make a certain amount of money for each round. The higher the limits, the better probability of attracting wealthy gamblers who like to play big. Players may be also encouraged to bet more by special offers called ‘comps’. Comps are gifts such as airline tickets or tickets to shows or even a certain extra percentage of the total winnings. They can be obtained by participating in a kind of “loyalty program” of a certain casino. Gamblers who receive a club card must meet certain requirements like spending a particular amount of time on a game, reaching a certain number of stakes, etc. This strategy is also advantageous to the casino despite the seemingly extra costs.

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Moreover, betting itself is actually only a small part of the total casinos’ revenues. Non-gaming income comes from selling food and drinks, guests visiting in-house entertainment venues or spa facilities, renting rooms for overnight stays, paid parking lots, etc.

The average Las Vegas casino visitor spent $434.70 per night. Source: unsplash.com

In fact, since 1999, revenue generated by non-gaming amenities has exceeded casino revenue in Nevada. By 2013, the direct gaming income constituted only one-third of the total profits made by Las Vegas casinos.

Research conducted by David Schwartz, the former director of UNLV’s Center for Gaming Research, showed that in 2018, the average Las Vegas casino visitor spent $434.70 per night with $285.41 going to non-gaming attractions and only $149.29 placed on gambling.

Furthermore, the share of people who visit casinos without gambling at all, for the sake of fun and new experience seems to grow with every generation. During the 2014 survey, 51% of the responding US Millennials vs 15% of Matures admitted they had visited a casino and not gambled but spent money on non-gaming amenities such as food and beverages.

Revenues and stats

Now that you understand the full picture, let’s get down to the exact numbers.

That’s how much major Las Vegas casinos earn annually:

• The owner of MGM Grand Las Vegas, MGM Resorts International had its consolidated net revenues increase 10% to $12.9 billion in 2019, with $5.8 billion attributed to Las Vegas Strip Resorts.
• Caesars Entertainment that stands behind the famous Caesars Palace generated approximately $4.45 billion in revenue from its casinos in 2019 with $4 more billion coming from non-gaming sources.
• Casino and entertainment resort company Wynn Resorts generated approximately $6.61 billion in revenue in 2019.
• Circus Circus Casinos, Inc. has a comparably modest approximate annual revenue of $115.91 million.
• Las Vegas Sands, the owner of The Venetian, reported Consolidated Net Revenue of $13.74 billion in 2019; whereas its operating income decreased 1.4% to $3.70 billion.

In fiscal 2017, 24 casinos in the Las Vegas Strip area produced gaming revenue of more than $72 million. The average daily revenue of a single casino made up $1.8 million with $634.5 thousand coming from the gaming bets.

169 large casinos in Las Vegas reported total revenues of nearly $22 billion. Source: unsplash.com

How To Make Money In Vegas Gambling Game

In the 2019 fiscal year, 169 large casinos in Las Vegas reported total revenues of nearly $22 billion. Their aggregate net income almost reached $2 billion.

At the same time, casinos in the state of Nevada generated $8.76 billion in revenue from gaming.

Coronavirus impact

The woes of the 2020 pandemic brought sad outcomes to the gambling sites. Being non-essential businesses, nearly all gambling venues and resorts were closed for a long time. Therefore, the losses of casinos are colossal.

Thus, MGM Resorts posted a 91% decline in quarterly revenue for the Q2 2020. The company also had an operating loss of $1 billion compared with operating income of $371 million a year earlier.

Las Vegas Sands announced net revenue of $98 million, a decrease of 97.1% from the prior year quarter. Operating loss was $922 million, compared to operating income of $894 million in the same period of 2019.

Though the casino operators speak about the reopening and recovery processes with hopefulness, their usual revenue levels may not be reached too quickly. Experts believe that a complete recovery to 2019 levels may not occur until 2022 or possibly 2023. Unlike many regional gambling markets, Vegas is heavily reliant on air travel, which is still pretty restricted. The number of international tourists and business travelers who are drawn to the wonders of illuminated casino buildings will be significantly smaller in the upcoming seasons.

Furthermore, the state’s “Road Map to Recovery” limits casino operations to 50 percent occupancy. That is another factor for the revenue decrease in the foreseeable future.

SunTrust Robinson gaming analyst Barry Jonas believes Las Vegas needs to return to its “gaming roots” to survive the pandemic crisis:

Today’s gaming market has essentially morphed back 30-plus years in time to when the main focus was recession-resistant gambling, as non-gaming amenities take a back seat.

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