Do Casinos Have an Unfair Advantage?
A rather simple view (perhaps even simplistic) of how casinos operate may have one rightfully concluding that these casinos do indeed enjoy having an unfair advantage over gamblers and over other industries. If you just look at it on a one-on-on basis between the casino and a gambler, the casino definitely enjoys odds which far outnumber those of the singular gambler, hence the phrase “the house always wins.” Bring in a third-party and many more “parties” for that matter and the house still enjoys odds heavily stacked in its favour. Think of a roulette table for instance. You can have all of 10 punters all taking their chance and spreading their bets evenly across the table, yet if you were to get the inside scoop on how much “the house” gets to keep in profits, this still suggests that the house enjoys far better odds over even a collective group of gamblers.
This is definitely unfair, if you just look at it in a straight-forward manner, but the fairness is suitably taken care of by the fact that a gambler agrees upon those heavily skewed odds by mere virtue of participating in the games and placing their bets. Furthermore, casinos employ the smartest brains which are highly trained and experienced in the actuarial sciences to effectively make sure the house always wins. They’re in the business of literally making money from a group of people who sometimes make money off of each other.
Don’t get me wrong, gambling can be a lot of fun and which entrepreneur or finance sector professional doesn’t enjoy the thrill of taking a chance with a little bit of money in exchange for the prospect of perhaps winning big? In many respects, using a Genting Casino Promotion Code to get a deposit bonus for some free credits to take a chance with is exactly the same as say a welcome bonus given to someone signing up to an online trading platform. This brings us back to the original question of why it is exactly that casinos like to give away so much money.
Casinos give away so much money because they are required to do so by the laws which regulate the gambling industry. They have to give a certain percentage back to gamblers in winnings, otherwise it would have really been unfair to the gamblers. With regards to the promo codes and bonuses however, while this is another way of giving part of the required percentage back, it’s also a good marketing tactic to get more players to sign up especially to online casinos.