The Casino Industry – Incentives For Big-Bettors
The average American visits a casino one or more times in their lifetime. In 2009, 24% of adults had visited a casino in the past year. In 1989, that percentage was much higher, with 25% of individuals having earned a graduate or professional degree. Another 28% had earned some college credits, but nearly half had not attended college at all. Compared to the national average, these numbers have fallen dramatically. However, the popularity of casinos continues to rise.
There are two main categories of casino games: beatable and unbeatable. Beatable games include blackjack, Pai Gow Poker, Pai Gow tiles, pari-mutuel betting, video poker, slot machines, and sports betting. Unbeatable games are roulette, craps, and Caribbean stud poker. In addition to these common games, you may find local variations of other games. For example, a game of fan-tan is popular in Australia, while a game called boule is popular in France.
The casino’s mathematical expectation of winning is very high. It is impossible for a patron to win more money than the casino can afford to lose. This is the reason why casinos are so profitable and rarely lose money on games. Nevertheless, they often offer lavish inducements for big-bettors, such as reduced-fare transportation, free drinks, and free cigarettes. Incentives are a big part of the industry in casinos, which can be considered a form of free marketing for the industry.