Contrary to popular belief, sports betting is a low-profit business that requires highly skilled employees. In Nevada, sportsbooks last year contributed only 2.4 percent of the gambling revenue of casinos statewide — dwarfed by the proceeds from table games and slots. The limited payoff has tribal casinos balancing the allure of a Las Vegas-style amenity with the risks of opening compacts for negotiations.
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ThanksComment -
Makes sense
If it's a 50/50 proposition per game
And it's -110
Then the casino will be +5% gross margin
After overhead, who knows
But $100mm in wagers = $5m in projected profit compared to $100mm in night club revenue = $40mm in projected profit
You can see why they shift priorities in Vegas to dipshit millennials who pay $50 cover and $12 per beer to be 'seen'
Even table games like roulette only give house a 6% edge.
Craps 5.5% or 3% if don't pass line after come out...
Need to be sharp to own brick and mortar casino...Comment -
Books copy lines
Really not that hardComment -
Sportsbooks and poker rooms are at the bottom of the revenue chain for casinos.Comment -
Thanks for pointing out what those who understand the casino business have been saying here for years.
Being a bookie can be very lucrative outside of a casino if you have bankroll and half a brain.Comment -
Offshore is much more lucrative than USA legal shops Inwouod think .Comment -
The mathematically challenged are very profitable.Comment
