Why You’re Losing More to Casinos on the Las Vegas Strip
Casinos are making it costlier to play and harder to win. Blackjack players lost nearly $1 billion on the Strip last year, according to data from the Nevada Gaming Control Board.
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Gambling companies shift betting further in their favor, raising minimums at blackjack tables and tipping the odds in roulette
As Las Vegas gambling and tourism boom, casinos are making it costlier to play and harder to win.
Payouts are lower for winning blackjack hands. Bets on some roulette wheels are riskier. And it is taking more cash to play at many game tables.
These changes are part of a broader effort by companies to make Las Vegas more of an upscale destination.
“You’re bringing in higher value customers, and we’re already full,” Caesars Entertainment CZR 1.81%increase; green up pointing triangle
Chief Executive Tom Reeg said on a call with Wall Street analysts this month. “So, you’re kicking out the lowest end. I see no reason that that needs to stop or would stop.”
Blackjack, a fast-paced card game, historically paid out a ratio of 3:2 when a player hit 21 on the first two cards. That means a gambler wins $15 for every $10 bet. Now, many blackjack tables on the Strip pay out at 6:5, which means that same $10 yields only $12.
According to the Mehaffeys’ data, more than two-thirds of blackjack tables on the Strip currently offer 6:5 payouts, as opposed to 3:2.
Gamblers playing the centuries-old game roulette must look closely from table to table to figure out their odds of winning. Triple-zero roulette, a version that leans in favor of the casino, is increasingly popping up on the Strip. Historically, American casinos more commonly used a wheel with 38 slots, including 18 black, 18 red, and two green slots numbered zero and double-zero. The triple-zero roulette adds another slot with three zeros, lifting the house’s advantage and making gamblers’ bets more difficult to win.
