Casinos are trying to encourage the public to come and play keeping very quiet about lowering their odds of winning. Traditionally casinos offer more favorable odds as the cost of the investment increases. Therefore when a Casino player comes to the table the larger risk that they put in will yield the highest payout in the end. This also means that their odds of winning the particular payout will be smaller however the reward will be substantial enough to overcompensate.
According to Al Rogers of Pi Yee Press, a publisher of blackjack rules and odds, the lower the limit for the casino game usually means that there will be worse rules for the players. Therefore when players feel that they’re getting a better deal, they are usually being misled about the payout.
In the last 12 months wagers on the casino card game blackjack dropped by almost $1 billion. It has been revealed by the Gaming Control Board that the casinos on the strip managed to retain 10.9% of that $1 billion.
Rogers states that the casinos on the strip have suffered in yearly revenue, but have made sacrifices in order to prevent card counting and other mischievous and illegal acts. By making a less enticing offer to gamblers, casinos on the strip are hoping to discourage card counters from returning. “They know they’re offering a worse product. Their own math will tell them that. But lower minimums make it look like the customer is getting a better value,” Rogers said.
Although Curtis admits that the odds are not favorable for the casino gamblers, he also mentions that the value invested is relatively small. “It’s only a dollar,” Curtis said. “Players like the idea that they can retreat back to that point if they want. And it gets people in the door.” Either way it’s good to shop around and casinos and decide which tables are offering the best value for your money.
