1. 12-27-18 04:53 PM #1
    jjgold
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    Sports Betting Low Profit Business

    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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  2. 12-27-18 04:54 PM #2
    funnyb25
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    Thanks
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  3. 12-27-18 05:01 PM #3
    MinnesotaFats
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    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...
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  4. 12-27-18 05:03 PM #4
    RudyRuetigger
    Leave of absence until March Madness
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    Books copy lines

    Really not that hard
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  5. 12-27-18 06:30 PM #5
    clockwise1965
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    Sportsbooks and poker rooms are at the bottom of the revenue chain for casinos.
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  6. 12-27-18 07:01 PM #6
    jjgold
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    Quote Originally Posted by clockwise1965 View Post
    Sportsbooks and poker rooms are at the bottom of the revenue chain for casinos.
    yes does not even dent a state for revenue
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  7. 12-27-18 07:12 PM #7
    Grits n' Gravy
    Bigdaddyqh diddles kids
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    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.
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  8. 12-27-18 07:54 PM #8
    jjgold
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    Offshore is much more lucrative than USA legal shops Inwouod think .
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  9. 12-27-18 07:59 PM #9
    pretentiousGuy
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    The mathematically challenged are very profitable.
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  10. 12-27-18 08:56 PM #10
    The Shooter
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    Quote Originally Posted by jjgold View Post
    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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