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Why are casinos so profitable? Should you ever gamble?

Gambling is a profitable business. Every year casinos earn more profits in the U.S. than the movie industry and the music industry combined. Despite the negative impacts of gambling like increased poverty and higher crime rates, more casinos are building in various states.

We usually repeat behavior which produces desirable results, and we avoid those which incurs a loss. By using this logic, we expect a gambler will play as long as he or she wins. But in the case of gambling, this doesn’t happen. Players tend to play faster after losing and bet continuously regardless of the magnitude of return or even lack of chance of winning. The reason for this is gamblers don’t judge the actual probability of winning properly.

What is the ‘House Edge’?

Casino games have an advantage for the operator known as ‘House Edge.’ It is the difference between the true odds and the odds that the casino pays when you win. It is called casino odds. The chance that you will roll a specific number is called true odds. More combinations mean higher the odds. The casino takes a portion of the winnings due to House Edge, and the winner gets true odds less difference between the casino odds and true odds. Most games have House Edge between 0% – 5%. Slot machine and Keno have House Edges of 10% and 27%, respectively. If you play games that have smaller House Edge and learn the right strategies like explained in this website, then the players can keep their money longer, and it increases the probability of winning.

Where the profits come from?

As so many people are gambling, the casino odds are generating high profits for the casinos. But the habit of playing the odds results in a gambling addiction. Major casino players like Las Vegas Sands and MGM Resorts attracts millions of customers because of this addiction. That’s why casino business is so profitable.

Gambling is not good. It is an addiction, and it causes stress. It also increases the rate of crime. But most importantly you have the high chance of losing your money. Lotteries are the worst form of gambling. If you pay lotteries for many years, you will lose half of what you pay. In the other casino games like Blackjack or Baccarat, even in slot machines, you lose money. So, you should stay away from gambling.

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Three professional gamblers who have made it big in Vegas

People often say that the big casinos in Las Vegas don’t let people win. But the truth is that people do win big amount of money here. According to statistics, those who play on high-limit machines earn larger payouts. Here are three professional gamblers who have won a significant sum of money in Las Vegas.

1. Edward Thorp

He was the first person to make people believe that the blackjack system is beatable. He was a math professor and had masters in physics. He was excellent at probability and correlation theorems.

His friend Claude Shannon brought him to the Las Vegas in the 60s, before that time he was oblivious to the game. He started playing blackjack and scrutinized every fact of it in an organized manner. When he and his friend went to casinos, they made $700K in a weekend. No one knew about the card counting concept. As he was consistently winning, the casino thought that he was cheating. They watched his videotapes over and over again but couldn’t find out any clue of cheating. Some casinos asked him to leave as they knew he was going to win. He wrote the book ‘Beat the Dealer’ in 1962 which was immensely popular. Now he is involved in the stock market and makes huge money every day. His name is included in the Blackjack Hall of Fame.

2. Richard Marcus

He started betting on horses at a very early stage of his life and later became a gambler. He drove to Las Vegas to try his luck at an age when he was not eligible to play in the casinos. He started working in casinos. There he met a professional gambler called Classon and joined his team of professional gamblers. They trained him on different methods of Blackjack, Baccarat, Craps and Roulette. He became a master of post posted bets. He had made more than $5 million before the casinos found out about the trick he used to win.

3. Louis Colavecchio

He made many slot machine coins of different casinos with the hardened steel. He duplicated the coins just like the real coins, and it was almost impossible to differentiate between the two. He used metals like Zinc, Nickel, and Copper with laser and made them into perfect round shape. He earned between $100K to $500K gambling.

These gamblers have proved that gambling is purely not luck, and you can make money in casinos. It’s time you try your luck now!

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The five most trustworthy online casinos in the world

A gambler always looks for new platforms where they can play games. But not all platforms are safe. Online casinos are gaining popularity, and more people are getting involved in these. With so many casinos available, it ‘s hard to find a reliable one. Here are the mot trustworthy online casinos in the world.

1. BetVictor

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It was established in 1996 and licensed by the Government of Gibraltar and UKGC. It offers more than 500 top class free online slot games from the best suppliers such as Microgaming, Novomatic, NetEnt, Evolution Gaming, etc.

2. Casumo Casino

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It is a very simple online casino. It is a social gaming site formed in 2012. It is a unique and exciting casino. Just by browsing the site, you will feel the excitement. Here you can collect bonuses, find rewards like free spins and unlocking badges.

3. Guts Casino

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It has all the best Casino games in one place. No download is required. They have very fast payouts and offers weekly free spins bonuses. It is very safe and secure and provides all time support. You will find live dealers and sports here.

4. Betsafe Casino

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It was started in 2006 and is one of the biggest online gambling sites. It is regulated and licensed by the Malta Lotteries and Gaming Authority. It is very user-friendly, safe and secure. It accepts players from any country. It provides different currency and language options.

5. Energy Casino

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It is the second largest Novomatic online casino and offers more than 60 exclusive Novomatic games. It is one of the top instant play casinos. It is powered by Microgaming, Greentube Technology, and NetEnt.

These sites are ranked regarding reliability, online casino security, customer support, and other important factors. You can play on these casinos without worrying about security issues.