How Much Does A Live Casino Make In A Day?
As we all know, the US casino market is a massive industry. But, does anyone really know how much money casino houses in America make in a day?
Well, we decided to do some digging. And, by crunching the numbers, we found out how profitable gambling venues can be.
On top of that, we dedicated a considerable part of this article towards elaborating on how casinos make you spend the money in the first place. After all, their tried and tested methods have been filling casinos owner's pockets for decades now, if not for even longer. Here is what we discovered.
How Casinos Make Money
Depending on the type of establishment, casinos could rely on different systems to make a profit. In the following chapter, we will explain the techniques they use to further increase revenues.
✅ The house edge
For now, let's stick with the methods that 'only' generate revenues. Of course, the integral component of casino operations is the house edge. For those of you who are not familiar with the term, the house edge is a statistical advantage that the house has over a player.
In other words, the house edge allows the casinos to always make a profit, at least in the long run. Also, it is important to note that the house edge is tied to the type of game that the casino offers. In other words, different games of chance provide players with different odds of winning.
✅ The handle
Likewise, an important term when speaking about casino revenue is 'the handle'. Some experts also use the term 'the drop'. Either way, this element of casino operations indicates the total amount of money players put in bets. If they deduce the operational costs from this amount, casino owners can learn how profitable is their venture.
How Casinos Make You Spend More
Once again, different casino houses have different techniques for enticing the players. But, there is no doubt that every casino out there uses certain methods for attracting players and making them spend more money.
The combination of data analysis and accumulated knowledge provide casinos with a powerful set of tools. Needless to say, casino operators with years of experience under their belt manage to attract a large volume of visitors with ease.
So, here are some of the most important methods that both the land-based and the online casinos use to make you spend more money:
⛔ They advertise success
In a brick and mortar venue, loud noises and flashing lights will rain down on a lucky guy who hits a jackpot. In a similar way, the virtual casino also promotes its winners. The reason for this is simple and straightforward. The human brain is wired to think something in the lines of „if he could win, so can I!“
⛔ They put opportunities within reach
Over the years, the positioning of games at a land-based venue has grown into a carefully studied art form. When it comes to the online casinos, intuitive commands allow players to find their favorite games in a hassle-free manner. By providing you with gambling opportunities, casinos once again rely on human psychology.
⛔ They make you lose track of time
Yes, we all know that casinos seldom feature clocks. As a matter of fact, old-fashioned casinos didn't even feture windows! All of those tricks were used to make you lose the sense of time, i.e. to make you stay longer at the casino. Nowadays, online casino sites entail an array of methods to take your mind off of the passing of time.
⛔ They offer a plethora of benefits
Above all other methods, casinos predominantly attract players by providing them with a range of perks and gifts. After all, we all love free stuff. As a result, flashy banners are all over the place at almost every casino website. For instance, various bonus features and other promotions are readily available for loyal players. Similarly, brick and mortar casinos provide their guests with a comprehensive set of benefits. These often include free drinks, to lower your inhibitions.
Factors That Influence How Much Money Does A Casino Make
Without a doubt, casino houses have developed an elaborate moneymaking methodology. They study the habits of the players and extract useful data. Later on, this information provides casino owners with valuable knowledge.
For instance, there are three main factors that influence how much money to players leave at the casino:
By influencing these factors, casino owners can boost revenues. That is why various tracking techniques are monitoring your every move in a live casino. But, this does not mean that the casinos are doing something bad by studying their players' behavior. On the contrary, this is a classic win-win situation. In the end, the casinos can use the information to improve their service and provide a better gaming experience. At the same time, players will benefit from playing their beloved games in a pleasant environment.
Average Earnings Of The US Casinos
Needless to say, the gambling industry is a highly competitive arena. A lot of brands are fighting for their spot under the sun. Again, the players are the ones who reap the rewards from such a situation.
When it comes to the US, the casino market is experiencing constant growth. As a matter of fact, 2017 was a record year for casino operators. According to AGA (American Gaming Association), the total revenues in the casino market exceeded $40 billion! In addition, casino brands had to pay more than $9 billion in taxes.
According to the same survey, Nevada was the highest grossing state. Of course, the competition was not far behind. To be precise, Pennsylvania and New Jersey have also experienced record numbers when it comes to earnings.
⭐ Daily average
To answer the question from the beginning of this article, we could use several credible sources of information. For example, a comprehensive study has revealed that Las Vegas casinos in 2013 earned $63.000 on average, per day.
With that in mind, the growth is then clearly visible if we take a look at the following numbers. Here are the average earnings of the most prominent New Jersey online casinos in 2017. The data was released by DGE (Division of Gaming Enforcement).
So, it seems that all those tactics we mentioned earlier are more than successful. Not to mention the fact that casino houses are coming up with new methods for enticing the players even as we speak.
⭐ Monthly average
Since DGE releases monthly reports on the situation in the New Jersey gambling scene, we can further examine their data. For example, the monthly earnings of New Jersey casinos could be a helpful indicator. Here are some of the results from the report for March 2019 (casino revenue):
Clearly, New Jersey casinos are on the rise. Their first-class service makes them attractive and appealing for casino lovers from across the US. In fact, from its launch in 2013, the NJ scene has earned as much as $991.765.293 in revenue (and counting). In addition, the casinos in this market have paid out more than $197 million in taxes.
With the rise of mobile gaming, the casino industry has experienced a rebirth. That is why casino brands keep on growing and expanding. Of course, their investments generate more profits, and this circle just keeps on giving. The American players can be happy to have a range of powerful casinos right at their front door.
As we could see, these casino houses generate massive amounts, even if we only take daily profits into consideration. In a way, this fact can provide players with certain guarantees that the services provided by American casinos will improve with each passing day.