NJ casinos roulette wins 4x HE?
March 13th, 2014 at 9:49:00 AM
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I came accross the Monthly Gross Revenue Reports that are posted online by the NJ Divison of Gamming Enforcement. Every month is reported, but I chose the following three at random for this post.
My question: How do casinos consistantly win around four times the house edge for roulette games? I would think that they would want to minimize the wins for tax purposes, so I'm guessing sloppy accounting isn't the answer. Does anyone have some insight? Is there a gigantic pool of suckers out there fueling the industry?
| Jan-13 | Apr-12 | Dec-12 | |
|---|---|---|---|
| Atlantic Club | 25.0 | 19.7 | 21.1 |
| Bally's | 21.7 | 20.1 | 19.2 |
| Borgata | 19.9 | 21.6 | 17.4 |
| Caesars | 14.8 | 17.2 | 16.6 |
| Golden Nugget | 20.9 | 28.2 | 26.5 |
| Harrah's | 22.0 | 20.3 | 22.8 |
| Resorts | 30.7 | 8.2 | 28.9 |
| Revel | 23.2 | 18.3 | 26.2 |
| Showboat | 19.2 | 20.1 | 16.5 |
| Tropicana | 20.9 | 18.5 | 27.3 |
| Trump Plaza | 23.9 | 19.3 | 26.4 |
| Trump Taj Mahal | 22.8 | 20.6 | 22.7 |
NJ Casinos Roulette Win%
My question: How do casinos consistantly win around four times the house edge for roulette games? I would think that they would want to minimize the wins for tax purposes, so I'm guessing sloppy accounting isn't the answer. Does anyone have some insight? Is there a gigantic pool of suckers out there fueling the industry?
“You don’t bring a bone saw to a negotiation.” - Robert Jordan, former U.S. ambassador to Saudi Arabia
March 13th, 2014 at 10:06:21 AM
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Quote: JBYou are confusing the house edge with the hold.
Thanks JB, I think I get it: Players lose 5.26% per bet but don't leave until they go broke, in general.
“You don’t bring a bone saw to a negotiation.” - Robert Jordan, former U.S. ambassador to Saudi Arabia
March 13th, 2014 at 10:44:11 AM
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The definition of hold is money won divided by money from buying in, right? So it has to do with the fact that if you buy in for $500, you will probably bet well over $500 while being constantly eaten alive by the house edge. It's a factor of you gambling your winnings instead of only playing through your buy in once and leaving without regard for what you have won or lost.
Its - Possessive; It's - "It is" / "It has"; There - Location; Their - Possessive; They're - "They are"
March 13th, 2014 at 1:11:34 PM
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Somebody got Resorts real good in April 2012.
ZCore13
ZCore13
I am an employee of a Casino. Former Table Games Director,, current Pit Supervisor. All the personal opinions I post are my own and do not represent the opinions of the Casino or Tribe that I work for.
