The truth of the flashing lights of Vegas and the masses of money it generates annually!
Las Vegas, also known as Sin City, is a city of lights and massive mistakes, yet it also attracts many and generates billions a year through its glitz and glamour. In 2022, despite the awful economic state post-COVID, two of the largest casinos in Vegas, the Bellagio and the MGM Grand, reported total wins of $8.3 billion. How on earth was this possible? The economy was in one of the worst states since the economic crash 2008, yet the casinos were making more than ever. The truth lies in one of their slogans: "The House Always Wins."
To reach the answer of how these casinos generate billions today, one must start at the very beginning. The first casino to open its doors in Vegas was the Pair-O-Dice Club, which opened its doors in 1931. Throughout the 1930s, a dam was constructed close to the city, causing many to move there. This growing population created a demand for entertainment. Hence, in 1941, the first resort on the strip opened its doors. The grounds for the biggest gambling and entertainment city were set. After World War II, a massive boom hit the strip, iconic casinos opened their doors and world-famous performers such as Frank Sinatra headline sold-out shows. The popularity and influence of these casinos only grew, and the 1970s marked the time when the casinos turned from mob-run to corporate-run, which only expedited the rise of the strip. Continuing to adapt to the tumultuous times, the city of Light kept growing in popularity. Here we are now, in the 21st century, where these casinos have become magnificent in decor and wealthy beyond anyone's first expectations.
One of the reasons for their mass profit generation lies in the design of their casinos. From the pyramids of Luxor to the faux canals of The Venetian, each casino is a carefully crafted spectacle designed to transport guests to another world. Each contains many different gambling games: slots, blackjack, poker… Each with the sole purpose of winning the player's money. Every detail about the casino's interior, such as the walls' colour and the different games' locations, is carefully deduced.
Furthermore, the casinos use different tactics to keep the players inside for the longest period by pumping oxygen directly onto the floors, causing players to create the illusion that they are wide awake falsely. Secondly, most casinos offer free drinks after you buy in. It does not take a genius to realise what a horrible effect that could have on the player! Thirdly, although it is not illegal, the casinos do not allow individuals who can count cards to play. Counting cards is a method only mastered by very few. It enables a player to keep score of how many cards they are playing, maximising their odds and usually, by the end of the night, achieving major success. (There are many movies where this is portrayed; my favourites include 21 and the scene in The Hangover) To list all the thought-out methods used by the casinos to maximise their profits could take all day, even weeks. However, what is important to mention is that as soon as you enter that bustling floor, they are attempting to play on all your senses to cause you to gamble and lose money.
Now, onto the games they play. In all the casino games, the odds are against you. The worst machines to play are the slow machines, the ones decorated with all the flashing lights and advertised everywhere. However, this game is a massive source of profit for the casinos, with the odds of winning the maximum cash price ranging from one in 5,000 to one in about 34 million. Now, you have to be one extremely lucky individual to beat that. The game which is most commonly thought of in Vegas is the game of poker. This game can be broken down into probabilities. Instead of boring many of you with the maths behind it, I will give you the probability for the highest hand in the game, the royal flush. The likelihood of achieving this is 1 to 648,739 in other words, 0.000154% and, in other words, near impossible. Whilst some could argue that poker is an emotional and manipulative game by its players, winning is incredibly hard as the house is always against you, and the odds are never in your favour. However, counting cards is a very good way to combat this. Some very talented minds can count cards, as seen in the movie Hangover with Alan or in the movie 21 (I would recommend both.) If you can do this, then the odds can be slightly pushed to your favour, enabling you to win, yet the casinos have this banned, and there can be horrible consequences if you are caught.
Overall, whilst many would say that going to Vegas and gambling is irresponsible and practically handing money to these large billion-dollar corporations, many adults go for fun. After all, it is nicknamed the adult playground. So the question remains: Will the casinos keep growing and growing, or will there be a stop in the near future?
By Annika Bjerregaard Edited by Aurore Lebrun
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really interesting article!