Ever wonder why casinos make so much money?
There’s a reason why they are 1 of the most profitable businesses in the world.
And that reason can be broken into these 10 money secrets casinos use.
1. The House Always Wins
The purpose of casino games is to provide entertainment for the player and revenue for the house.
These games provide a predictable long-term advantage to the house, while offering the players the possibility of a short-term gain that in some cases can be large.
Casinos usually get 5-10% of winnings and / or charge fees while setting bets at 50% even most of the time.
Since they don’t pay out according to “true odds”, the casino is getting free money.
Those who don’t have an edge piss their money away.
Most don’t have an edge.
2. Gamify The Experience
All business is show business.
Their main goal isn’t for the player to profit… it’s to offer an emotional experience.
Casinos have mastered loss prevention systems and psychological illusions that incentivize spending while giving you emotional fulfillment.
People play for the thrill of the game and the rush of anticipation.
Gamification enhances systems, services, and activities to motivate and engage users.
These techniques leverage people’s natural desire for:
- Status
- Closure
- Learning
- Mastery
- Socializing
- Competition
- Achievement
- Self-expression
Rewards include:
- Points
- The filling of a progress bar
- Achievement badges / levels
- Status on a public leader board
- Providing the user with currency
3. In The Land Of Emotion And Fantasy, Money Flows Like Water
Casinos win by abstracting the environment.
It becomes a dreamland where things don’t feel real.
This leverages the imagination of the population and makes it easier for people to part with their money.
4. Proximity To The Flow Of $ Gets You The $
Stand where it’s raining, and you will get wet.
If you aren’t getting $, you aren’t getting close enough.
In a casino, money flows 24/7.
(The dealers/machines are literally touching money at all times).
5. The Environment Keeps People Motivated
People are hopeful in casinos (despite playing rigged games) because of the environment.
- Flashing lights
- High emotion
- Sounds
These appeal to people’s aspirations and dreams.
6. Show Cues That A Jackpot Is Close
Slot machines are engineered to reduce your odds of winning while providing fake cues that you “almost won”.
Like showing the jackpot symbol on the first two reels, which are “weighted”.
Giving you the illusion you almost won big.
This enhances your perception of achievement + suspense, giving you more motivation to keep playing.
Casinos also place the higher paying slot machines near the entrances and high traffic areas.
This increases the illusion that everyone is winning.
7. Abstract Loss
Chips are strategically used to dissociate the feeling of cash / money when betting with them.
They alter your perception of the bet.
A single chip could be worth tens of thousands.
Due to its size, you see it as a little thing (contrast bias) and bet more.
8. Free Rewards Add To The Experience And Help Alleviate Loss / Pain
Free drinks = make you feel like you’re important and winning even if you aren’t.
They make you feel like you’re getting something out of the experience regardless of the outcome.
After all, reciprocity is one of the strongest psychological forces in the world.
9. Casinos Are Ultimately Real Estate
Every biz is real estate (even online).
And casinos are some of the most profitable buildings you can own.
10. Touch Points Add Up To An Experience
Our minds store info contextually, including cues such as environment and correlation.
These form associations, even if they aren’t connected.
The memory of associations becomes the product.
Conclusion
There you have it.
These same principles could make you rich.
(If you apply them).
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My name is Mister Infinite. I've written 300+ articles for people who want more out of life. Within this website you will find the motivation and action steps to live a better lifestyle.
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