Why You’re Losing More to Casinos on the Las Vegas Strip

Link: https://www.wsj.com/articles/why-youre-losing-more-to-casinos-on-the-las-vegas-strip-73f6f3ab?st=x02m0zq2rrmv5sj&reflink=desktopwebshare_permalink&fbclid=IwAR22FpxvLhFtnRbQ0YaEwFgHqN764ULdkADv9QXOGc-PKpeTbds8nUrIUs0



Casinos on the Vegas Strip are making it costlier to play and harder to win.  

Payouts are lower for winning blackjack hands. Bets on some roulette wheels are riskier. And it is taking more cash to play at many game tables.

Blackjack players lost nearly $1 billion to casinos on the Strip last year, the second-highest loss on record, after 2007, according to data from the Nevada Gaming Control Board. 

Some Las Vegas casinos cut back the number of blackjack tables with dealers, raised minimum bets during busy times and lifted their advantage over players in some games—doubling-down on a prepandemic practice of making subtle changes that favor the house, according to industry executives, researchers and gamblers.


Blackjack, a fast-paced card game, historically paid out a ratio of 3:2 when a player hit 21 on the first two cards. That means a gambler wins $15 for every $10 bet. Now, many blackjack tables on the Strip pay out at 6:5, which means that same $10 yields only $12.

John and Kristina Mehaffey, owners of gambling-news and data company Vegas Advantage, have been cataloging these changes since 2011, walking miles-long routes through casinos to record the number of blackjack and roulette tables set outside of VIP areas.

According to the Mehaffeys’ data, more than two-thirds of blackjack tables on the Strip currently offer 6:5 payouts, as opposed to 3:2.


Las Vegas visitors on vacation might not notice—or might not care—about the casinos’ increased advantage, says Bill Zender, a casino consultant who focuses on table-game management. But casinos risk losing business over time, he says. 

“If you go into a casino and gamble, and you lose your money fairly quickly, almost every time, you don’t feel you’re getting the bang for your buck,” Zender said.

Author(s): Katherine Sayre

Publication Date:29 May 2023

Publication Site: WSJ


Link: https://www.illinoispolicy.org/illinois-casino-revenue-down-200m-since-2012-as-chicago-bets-on-casino/



Chicago is in line for casino gaming soon, but its success is dwindling as video gaming machines and sports betting rise.

The casino industry for decades has been a significant contributor to the Illinois economy, but from 2012 to 2022 its seen a $200 million decline, according to data from the Illinois Gaming Board.

One of the reasons for the decline is the emergence of other forms of gaming which weren’t available to Illinoisans in 2012. Video gaming terminals, for example, have nearly doubled from $395 million in revenue during 2019 to $762 million in 2022.

They allow players to place bets on video poker and slot machines in local bars and restaurants, providing a more accessible and convenient experience than casinos.

Author(s): Dylan Sharkey

Publication Date: 11 April 2023

Publication Site: Illinois Policy Institute

WKYT Investigates | Ca$hing in on sports betting

Link: https://www.wkyt.com/2021/02/08/wkyt-investigates-cahing-in-on-sports-betting/


“Everybody knows it exists,” Rep. Adam Koenig, R-Erlanger, said of illegal sports betting. “Everybody knows it happens. But people who do it don’t have any protections and the state’s not reaping any benefits from it.”

For several years now Rep. Koenig has sponsored sports wagering bills, including House Bill 241 this session.

He says an estimated $2 billion is wagered illegally in Kentucky each year. Under HB 241, five percent of the net money the state receives from sports wagering would go to addiction prevention and treatment, with the rest going toward the state’s pension liabilities.

Author(s): Garrett Wymer

Publication Date: 7 February 2021

Publication Site: WKYT