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"The errors could cost the operator nearly a quarter-million dollars because of approximately 50 questionable wagers, " $250k to Los Vegas betting industry is
by audiometry 6y ago
"The errors could cost the operator nearly a quarter-million dollars because of approximately 50 questionable wagers, "
$250k to Los Vegas betting industry is a pittance. I think this headline 'largest...in Vegas History' is silly.
- joezydeco 6y agoSports books don’t work like slot machines or table games. Bets on each side are balanced against each other and the bookmaker works in a spread for themselves.
- audiometry 6y agoYeah, I understand that. But the fact is 250,000 is still a tiny number compared to the scale of these operations. As a concrete example, "Also key to the overall total was the money brought in by the state's sportsbooks, which collected an all-time high $329.1 million in revenue during 2019, up 9.5% over the previous year." https://www.pokernews.com/news/2020/01/inside-gaming-record-year-for-sports-betting-in-nevada-in-20-36522.htm https://www.pokernews.com/news/2020/01/inside-gaming-record-...
- joezydeco 6y agoFor a section of the industry where losses are never more than $0, they consider this a large amount. All a matter of perspective. I do agree that sportsbooks are a drop in the bucket compared to the entire handle in Vegas and other large gaming jurisdictions. Casinos would probably love to drop them completely and get some space back for more slots. But they're still around because visitors expect it. Like Keno.