DRich
DRich
Joined: Jul 6, 2012
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March 7th, 2021 at 3:38:21 PM permalink
Quote: TomG

Playing a machine with a 10% hold would mean they would have to make $5,000 in bets to give the casino that much value. To answer your question, very few will ever go into a casino only because it has a buffet, then end up playing a machine that costs $7.50 per spin for 45 minutes. Even without a buffet, those customers can be targeted with dining comps to other restaurants, gift cards, bottle of wine, etc. The costs to the casino are specific to players who gamble. With buffets, the casino would take a loss on everyone who eat there. (assuming your statement on being a loss leader is correct).



I think a casino is happy if someone comes in for a buffet and loses $40 gambling.
Living longer does not always infer +EV
TomG
TomG
Joined: Sep 26, 2010
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March 7th, 2021 at 4:27:58 PM permalink
Quote: DRich

I think a casino is happy if someone comes in for a buffet and loses $40 gambling.



They love customers like that. (They are even happy if someone comes in and wins $40 gambling. And they care mostly about total action and value the player gives them. ie 100 hands of $40 and only winning or losing $40 is far better than one hand of $40 and winning or losing the same amount. If they don't think like that, then they don't know that they are doing anyways and there is no point to the whole discussion about how much of a benefit these buffets are).

But if someone does come into the casino and eats at the buffet and loses $40 in value at blackjack (an hour at $25 per bet for a bad player, or a lot longer for a bs player), they did not come in just for the buffet and incidentally played some games. Gambling was included in the purpose of their visit. In which case it makes more sense to find loss leaders that target those specific customers.
DRich
DRich
Joined: Jul 6, 2012
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March 7th, 2021 at 5:55:44 PM permalink
Quote: TomG



But if someone does come into the casino and eats at the buffet and loses $40 in value at blackjack (an hour at $25 per bet for a bad player, or a lot longer for a bs player), they did not come in just for the buffet and incidentally played some games. Gambling was included in the purpose of their visit. In which case it makes more sense to find loss leaders that target those specific customers.



I disagree with this. To me you are saying that there is no impulse gambling. I have went into casinos many time with no intention of gambling and have occasionally gambled.
Living longer does not always infer +EV
TomG
TomG
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March 7th, 2021 at 6:34:19 PM permalink
Quote: DRich

I disagree with this. To me you are saying that there is no impulse gambling. I have went into casinos many time with no intention of gambling and have occasionally gambled.



When you found yourself gambling impulsively, did you lose $40 in expected value? An hour at the roulette table at $25 per spin, or four hours of basic strategy at the blackjack table?

Most people who do that did plan to do some gambling. And if that much gambling really was not planned, it just sort of happened on impulse, the casino would be better off using their "loss leader" resources to target them with specific things that will get them into the casino, rather than general amenities.
Venthus
Venthus
Joined: Dec 10, 2012
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March 15th, 2021 at 12:12:33 AM permalink
Quote: kewlj

Why take multiple plates initially and then only eat half? You CAN go back for more ya know. :/



A lot of buffets in Asia are once-through-the-line or pay-per-plate (or the unrelated pay-by-weight, which is still labelled 'buffet'), which lead to things like this* happening. Also, I've been to buffets where they enforced a linear route (even though the place was shaped like a triple-lemniscate) that took over twenty minutes to get through because people were so bloody slow... so I just loaded up on everything and said screw it to a second trip.

*Okay, I know this is actually about a salad bar, but similar idea: https://kotaku.com/how-chinese-ingenuity-destroyed-salad-bars-at-pizza-hut-834835079

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