Casino Stats: Why Gamblers Rarely Win

 Casino Stats: Why Gamblers Only Win Rarely

While it is normal to think of other ways to make extra money in a down economy you should not gamble. While casinos may offer great entertainment, food and entertainment, statistics show that they are not likely to bring in much more.

It would be an understatement to say that casino gambling is a profitable industry. After seven years of year-over-year steady growth, 2020 saw a drop in commercial casino gaming revenues to $30 billion.

Yet, gambling remains a huge business. It's not hard to see where the profits are coming from. Each year, millions visit Las Vegas with hopes of winning more money than they paid in. According to the American Gaming Association’s State of the States 2021 Survey, there are more that 450 commercial casinos in the U.S. These casinos generated $6.7 million in gaming taxes in 2018 for local and state governments.

Math is the universal language. It rarely lies. There is a statistical chance that you will lose every game you play in a casino. (Every time.) Although the house advantage may vary for every game, it is a way to make sure that the casino does not lose money over time to gamblers.

Blackjack is a game where the advantage to the casino might be only 0.5%. However, certain types and machines may have a 35% advantage over players. All other games fall somewhere between. The worst slot machine odds range from one in 5,000 up to one in 34,000,000 chance of winning top prize, when you use the maximum coin play.

While the house advantage does not guarantee that you will win, it does mean that you are unlikely to win. Sometimes people win significant amounts. This does not mean you can't win. The more you play the math against you, the greater your chances of leaving the casino with less cash than when you entered. how to win las vegas slot machines