Finding the Person Who Won the Money Is Like Winning the Lotto... "US Casinos Change Rules to Disadvantage Customers"

Large Casinos Change Game Rules to Disadvantage Customers
Lower Payout Rates and Raise Minimum Bets... Profits Increase

Casinos in Las Vegas, known as the "City of Casinos" in the United States, have recently been changing game rules in ways that are unfavorable to customers.

According to the Wall Street Journal (WSJ) on the 29th (local time), casino operators in Las Vegas have been altering game rules since last year to maximize profitability.

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First, most casinos, including the major operator Caesars, have lowered the payout rate for the popular card game "Blackjack" from 150% to 120%. Previously, if a customer bet $10 and won, they would receive $15, but now they only receive $12.

The minimum bet amount that customers can place has also been raised. Before the COVID-19 pandemic, the minimum bet was around $15, but recently it has increased to between $25 and $50. In particular, most casinos have a minimum bet of $50 for nighttime games.

This trend has directly resulted in losses for customers. The Nevada Gaming Control Board, which oversees Las Vegas, reported that blackjack players lost $1 billion (approximately 1.325 trillion KRW) at casinos last year. This is the second-largest loss amount in history, following 2007.

Meanwhile, Las Vegas casinos earned $8.3 billion (approximately 11 trillion KRW) in revenue from gambling alone. This amount is more than 25% higher than before the COVID-19 pandemic. Although the number of visitors to Las Vegas has not yet reached the levels of 2019, the year before the pandemic, the per capita spending has significantly increased, leading to higher casino revenues.

Additionally, many casinos increased electronic table games such as slot machines last year to reduce the high labor costs of dealers. As a result, slot machine revenue reached $4.6 billion (approximately 6.095 trillion KRW) last year, a 15% increase compared to the previous year.

However, there are also forecasts that if casino operators focus solely on short-term profits, they may suffer losses in the long term. Bill Zender, a casino consultant, explained to WSJ, "If visitors lose money quickly every time they gamble at casinos, over time the number of customers will decrease, and casino operators could face difficulties."