How the Casino Owners make money

[Holofoil]

Please note: The title sounds like I'm trying to say they scam but I'm not.

Recently I've been hanging around casinos and talking to people, and it came to my attention that not many people actually understand how a casino owner makes more money than a gambler at the casino...

[I'm not talking about the ones who scam here.]
[This is ignoring the fact that they get payment for rights.]

Sometimes if you ask the owner how they make more money, they say "Well, they get hooked". But what does this mean?

This also made me wonder... do I really understand how they get richer than the gamblers? For years I've always had the same theory and it only occured to me that I might be wrong and I wanted to check if people agreed, so here goes.

Most succesful Casino owners are stinking rich, right? So the chances are, a large number of people who come in every day are going to be significantly poorer than the owner.
Most of us know how the casino game works. It's a 50 50 chance of winning. So surely the owner has the same chance of winning as the gambler? Overall, not so. Let's say I was the owner, and I was worth 100T (I wish), and the gambler came in who was worth 5T. Let's go over what might happen.

He bets 1T. He loses. He gives up and leaves.
He bets 1T. He wins. He doesn't want to carry on in case, and leaves.

So here, it's a 50 50 chance. Agreed?
But what if....

• He bets 1T. He loses. He's now down 1T and wants to make up for it. He bets again and wins. He's made no profit and neither has the Owner.
• He bets 1T. He wins. He thinks he's on a roll and bets another T. He loses. Neither the owner nor the gambler have made profit.

• He bets 1T. He loses. He's now down 1T and wants to make up for it. He bets again and loses. He's down 2T and can't possibly just leave. So he can either carry on and risk it, or try make up for it.
• He bets 1T. He wins. He thinks he's on a roll, and bets another T. He wins again. He's up 2T. He can carry on now, and keep his profit, or risk trying to get more.

Now this is the important point. If the gambler gets hooked, he may well carry on and lose his 5T. And then he has no more to gamble. And probably goes and cries, but that's not the point.
If the owner and the gambler were to continue gambling non stop - the first one to lose everything is going to be the one with less Thrones (Or whatever they're worth in furni). The bigger the gap between how much the owner is worth, and how much the gambler is worth, the better for the owner.

Of course, if everyone went around gambling until they lost everything, the owners would get even richer and the poorer ones would get poorer. So obviously this doesn't happen because some people know when to stop.

So, every single one of the point I put could happen. And they do. But overall, the owner will gradually get richer than the gamblers. Plus they get payment for rights etc...

So how do you win at gambling? Own a casino, or make sure you're richer than the owner

Thanks for reading, and I hope it makes sense

Steffz

[no waiii]

we know this.... i make furni from selling rights and taking big bets

[AMERlCA...]

omg you wrote a lot anywayz i have asked vintus you know trade citys owner how he makes money and he said he aint telling me LOL

[no waiii]

omg you wrote a lot anywayz i have asked vintus you know trade citys owner how he makes money and he said he aint telling me LOL

ebay :rolleyes:

[e5]

tbh, there isn't a 50 50 chance of winning. The dealer, in the booth, has the upper hand, as it's the gambler's turn to roll first, if they bust, they bust. The only game that has a 50 50 chance is BTD unless it's tie=dealer.

[-Danube-]

Kinda obvious but it's good you posted it so that others who don't no this will now understand.

[Hiro]

Most casino owners nowadays earn their Habbo furni from ebay or runescape.
But nice thread.

[AMERlCA...]

ebay :rolleyes:

thats what everyone is saying that vintus buys hes thrones from ebay

[no waiii]

thats what everyone is saying that vintus buys hes thrones from ebay

Cause he dose

[Mint]

You are incorrect. It isn't a 50/50 chance for the dealer and the better at all, The better has to roll his dices first and has a good chance of busting or sticking on a low number. Then the dealer might not even have to roll and will of already won if they had bust (which they usually do) or the dealer only has to roll a low number to win. You may of noticed that most dealers don't play BTD (beat the dealer) because that really is a 50/50 chance, even if they say tie - me (which means if you both get the same numbers the dealer wins) this very rarely happens. So yeh dealers always do tend to win more than the betters which explains how they are so rich. And the wannabe's just buy them of ebay.