When the corporate media isn't obsessing over what Donald Trump said yesterday you can occasionally fine mention of the thousands of jobs white guys and others losts thanks to Trump's casino fiascos, but what is hardly ever noted is that a casino is one of the most effective ways to rip off someone else's money as the investment newsletter Motley Fool reported in 2012.
Motley Fool - Have you ever walked by a blackjack table in Las Vegas and marveled at how much money people can bet on a single hand of cards? Th
But hundreds of dollars per hand is small change for big gamblers and the gaming companies that run major casinos. They have clients betting thousands, even tens of thousands, per hand on blackjack, craps, baccarat, and any other game in the casino. And you might not ever see the biggest hands being played because they're in private rooms off the main gaming floor.
$1,089 is lost at an average Wynn Macau table game every hour of the day, or $18.16 every minute. Wynn Macau generates an average of $9.5 million in revenue at each gaming table over the course of a year. If we assume a house advantage of 2%, to generate $26,146 in revenue daily, $1.3 million would have to be bet at each table every single day. At that rate, $477.2 million is bet at each table every year. (These estimates are likely low.)
Keep these figures in mind next time you're at a casino. That table at which you might play a few hands of blackjack could be pulling in thousands of dollars in revenue for the casino each and every day.