Casinos Succeed Despite their Incompetence



The house edge on casino games is so large that even the most incompetent managers can make a casino look successful. If the average business was as poorly mismanaged as most casinos, they wouldn't be able to compete and would quickly be out of business. However, the casino's advantage is so great that it is almost impossible not to be successful. Today's casinos are managed by people who do not understand the games and who do not realize that any mathematical advantage is enough of an advantage to be successful. Bill Zender, renowned Game Protection expert, once asked a casino Table Games Manager and a casino VP of Operations, "What would you rather do, win x amount of money and hold 15% or win two times x and hold 10%?". The Table Games Manager answered that he'd rather hold 15% because his boss would question him if he only held 10% and the VP of Operations next to him confirmed that he was right! Casino management cares more about hold percentage than profits! With such backwards thinking and lack of understanding of the economics of casino games, casinos survive despite their incompetence and mismanagement.

This incompetence and mismanagement has led to the dismantling of "fair" casino games and proliferation of 6:5 blackjack and double odds at craps. It is now hard to find any games that offer a "fair" edge to the customer. Today's games are designed to separate a customer from her money as quickly as possible. Instead of trying to entice new, younger gamblers, the casinos would rather rape the remaining customers they have. Gone are the days where new gamblers have positive experiences that hook them and make them customers for life.

Casinos have an opportunity to make much more money than they currently do, have the opportunity to be infinitely more successful than their competition and have the opportunity to entice new customers but continue to push money right out the door.


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