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The Worst Bets You Can Make At The Casino
Back in 2005, shortly after Wynn Resorts (Nasdaq:WYNN) opened its first resort in Las Vegas, the aptly-named Wynn Las Vegas, in a filing it made with the Securities and Exchange Commission (SEC), the company reported that the average daily win rate at its table games was $7,117 per table.
The slot machine win rate was $273 per machine per day. These win rates are indicative of the daily rakes at other casinos and means that each gaming device inside a casino is effectively its own money-making franchise.
As the Center for Gaming Research at the University of Nevada Las Vegas explains, with little exception, the house (casino operators) always wins.
This is because, when it comes from the perspective of the casino, the games have been mathematically designed so that the odds are in the favor of the house over the long run. As its casino math..