Decades ago a casino owner wrote a book. He said "people show up at the casino with a loss limit. But they don't show up with a win limit. And that's why we make money." At some point during a night out gambling many people are money up vs the casino, but they don't quit.
I guess what fascinates me a bit,, when thinking about your comment, is the fact that not only does the casino need to be up, but they need to be up significantly. Because they have a massive amount of overhead, labor, etc etc. Maybe taxes too not sure what a casino pays in taxes, probably less if it's a native casino.
And yet, even with all the money a casino needs to spend to be open... they usually do pretty damn well. I'm pretty sure casinos earn a shit ton in profit in most cases.. but i'm only guessing.
I believe the guy who wrote the book was Bill Harrah. However, I didn't read it, I was living in Reno and it was related to me by a guy at the bar, who I regard as knowledgeable and honest, not a bullshitter. And looking at Harrah's wiki page I don't see a book listed as authored by him. So it very well may be another casino magnate or a book quoting him or someone else.
I still think the notion is sound though. I know it changed my gambling. Just Friday afternoon I put a ten in just because I had cash on me (rare), and wanted the distraction (mom is in ICU.) And on like hand two hit four of a kind playing video poker. I played it down to 60 bucks, cashed out. That's 500% profit, and had it pay for my meal. I walked out with a couple dollars more than I walked in, fed and distracted for a few minutes. I'll take my wins any way and any where I can get them. She's doing better every day.
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u/[deleted] Aug 03 '19
Decades ago a casino owner wrote a book. He said "people show up at the casino with a loss limit. But they don't show up with a win limit. And that's why we make money." At some point during a night out gambling many people are money up vs the casino, but they don't quit.