Time Is Money in the Casino - Part 3
The last couple of weeks, we’ve explored how speed of play and the house’s mathematical edge on casino games work together to make money for the casino. And we’ve taken both speed and edge into account to list your average cost per hour when you play, first on table games, then on electronic games.
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Casino gambling facts:
- The casino at Spa, a Belgian resort town noted for its mineral baths, was built by the Prince Bishop of the province of Liege in 1763.
- The famous banker J.P. Morgan once walked out of a Monte Carlo casino because the stakes were too low? At the time, the maximum wager was 12,000 francs and Morgan wanted it increased to 20,000 francs. When the casino manager refused to increase the limit, Morgan left the casino saying "12,000 francs! I have no time to lose such ridiculous amounts."
- Las Vegas is a testament of the powerful ability of gambling to foster economic development. Because of gambling, Las Vegas has shown impressive job growth, developed into a major city with a low tax burden that many state and local governments look at with envy.
- At a land-based casino, if your slot machine is malfunctioning, you won't get paid if you win the jackpot! All slot machines have this written on them but many players are not aware of this policy. The casinos have a device which lets them know if a slot machine is malfunctioning or if it's been tinkered with. Your best bet is to stop playing at it and try another.
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