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Las Vegas Nevada Casinos - las vegas nevada casinos - Viva Las Vegas and other Nevada Casinos, Gambling Equals Mathematics

house advantage customer retains

Las Vegas translates to “the meadows” in Spanish. Today the casinos in Las Vegas spend a collective average of $3 million a day in an effort to attract tourists, but in the 1940’s there was a quite natural demand for the entertainment capital as underworld figures founded and operated the lucrative casino gaming industry that is now the underpinning force behind the Nevada economy.

In the 1960’s, Howard Hughes visited Las Vegas and invested heavily in the purchase of local casinos. Other legitimate investors followed suit. Even the Federal Government too, exploited this climate of legitimacy and eradicated the presence of organized crime while at the same time securing a windfall in public revenue through taxation imposed on Las Vegas casino operators.

With the exception of Macau, Las Vegas Nevada is the casino capital of the world.

Gambling Equals Mathematics

For the newcomer, the prospect of being initiated into the gambling environment is often one that is fueled by unrealistic apprehension. Gambling of any kind is an exercise in probability at best, and Las Vegas casinos have made probability an art form.
It is important to bear in mind that commercial enterprise such as casinos, apart from having a colorful history, operate to produce profit. While providing a gambling service for their customers, casinos are not in business to take risks. Casinos are not gamblers; for they have a theoretical advantage in every customer interaction. It is only the customer who gambles, and contrary to what is commonly accepted, most will only ever have the opportunity to gamble against probabilities that are considerably defeating.

At very best, the customer will reduce their disadvantage to the house by placing odds bets at a craps table. Here, the house retains a 0.7% mathematical advantage, but retains a 1.4% advantage with ordinary craps bets at the table.
Blackjack tables, while immensely popular, will also provide a 1.5% lead to the house. Roulette on the other hand, throws away 5.3%, but by comparison, but the house enjoys its staple revenue from slots machines. There is very good reason for providing gamblers with enticing incentives to play the slots, as by convention the house retains up to a staggering 25% mathematical advantage on every game played.

Of course there are many diverse opportunities and games to play in a Las Vegas casino, but with a little prior reading, visitors can have an enjoyable experience visiting one of the most primal aspects of the human psyche. The modern-day casino represents the internal tussle that mankind has battled with since the dawn of time; the conflicting forces of greed, fear and risk are as familiar to every individual as the very basics of survival.

Popular hotels on the Las Vegas strip include: Luxor; Caeser’s Palace; the Bellagio; the Venetian; New York, New York; the Sahara and the Stratosphere.

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