Met up with few news friend at a workshop over the week, apparently it was doing one of my freelance jobs for an event and they were my alias as operators for that particular event I was covering. Apparently, as even operators they spend most of their time sitting outside the conference rooms while their main speaker is conducting the workshop, only having to tend to food, and technical problems if they arise, so it’s quite a minute man job with other most of the time sitting around.
We sat and chatted during one of those long boring breaks and interestingly, one of them is currently working and taking a part time diploma as taught by the ACP (ICG) in casino and hotel management, which is a rather new yet topic I am still still curious and would like to know more about. Here is what I roughly got about the “tick and tocks” of casinos which I can share.
Gambling is a rather sensitive issue. What I typed here in this post is purely just way of sharing what I have. I will take no responsibility to the possible actions or causes resulting from the content of this post. This is also with regards to the accuracy of this post’s contents.
Odds, statistics, mathematics and even Psychology brought together
He talked about the concepts of statistics, maths and probability in casinos (they have whole encyclopedia thick of related statistics just for casinos) to the sciences of and psychological greed. All these actually tells that if an average layman thinks that gambling in a casino is based on luck but an extensively calculated matrix and formulas to have the odds against you. It is so even up to the extent of the magnetism, face, pride and physiological pressure to keep users glued to the tables to surge more, just to name afew.
Play only what you prepared to lose
As the saying, the house always wins, but come to think about it, this is something not really something I did not know about, but now I definitely get a clearer picture of operations- But I never knew it’s so bad, especially the thought of you are kinda “doomed” to lose to the house from the start when you enter the casino is rather daunting too.
You lost $10,000 even if you’ve limited yourself to playing $1,000
Theres a theory of losing more than what you actually intended to spend on, say like losing $10,000 even despite having only bet $1,000 maximum. This is so given the addition and subtraction of possible wins and losses you might make you your intended $1,000, this is a good pressure factor to play more beyond your $1,000 limit to “earn it back”.
Eyes in the sky
Other notable facts most people should catch on the show “Las Vegas” is the rather intensive camera on casino floors (up to even 20 cameras per table), no corner in the casino is left unwatched.
Casinos are very honest operations
What is yours is your and what is mine is mine, casinos are very honest operations to the extent of even go up to your door to return any cash in chips that rightly fully belonging to you, unless you played them on the table that is! Then that will be a different story. Anyway, with gambling probabilities always on their side, casinos have nothing to lose
The coordinated floor
Casinos floor operations are rather complex- almost everything is coordinated. Table dealers work together to meet a common cutoff, quota or daily target. Putting their best dealers to deal with their client and gambler database. Blacklisted players can even be escorted out within minutes of entering the casinos. Key or experienced players will automatically be greeted by best dealers dispatched just like minute men.
Even each jackpot machine are designed to churn in a target of profit set and connected to an extensive computer network. Multiply that by the number of jackpot machines in the whole casino to multiply the profit. They are coordinated and programmed to release a jackpot only after a whole set of objectives, revenue, crowd popularity (e.g jackpotting crowded areas to arouse more interest and “spill over effects”in using the machines) and targets are set.
Huge salaries
He went on to even targets set by pit bosses for dealing tables and overall Casino turnover rates, which is realistically many many times that to even big banks. Pit bosses in the casino floor managing a few tables and dealers can earn easily a 5 digit salary per month, no wonder the industry in Singapore is so sought after, not to mention the amazing number of tens and thousands of jobs created when Las Vegas Sands moves in town within a few years time.
What I’ve covered here are simply just to tip of the iceberg, there is more than it meets the eye. Man will it be an interesting industry.
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