Gambling Analysis – How to Maximize Your Casino Profits
Whether it’s the lights, booze, or people talking and laughing around a table or slot machine, casino environments offer an intoxicating buzz. Guests lose track of time as they chug drinks and try their luck at games like poker, blackjack, and roulette, all while enjoying the company of friends. There’s no telling when luck will strike, and this makes casinos a great place to socialize while getting your thrills.
In an era when violent, profane crime dramas were en vogue thanks to Quentin Tarantino and Goodfellas, Scorsese stepped in with his own version of the genre in Casino. Using the sweeping narrative style of his previous works, Casino lays bare the intricate web of organized crime and corporate corruption in Vegas, with tendrils that reach out to politicians, Teamsters unions, Chicago mob factions, and even local police departments. The film also stars Robert De Niro and Joe Pesci, who reunite here after their breakout performances in Raging Bull.
In order to maximize the profitability of their venues, casinos need to know how much each game will return in total revenue, as well as the variance (the amount of variance between winning and losing streaks). These statistics are determined by mathematicians and computer programmers who work in the gaming analysis industry. The house edge is the expected percentage of money the casino will make from each dollar wagered, while the variance is the amount of variation between each winning and losing streak. These numbers help casinos predict how much they should have in reserve to cover the losses, ensuring they are always profitable.