This is an article I NEVER thought I’d write, but it is the new reality – big corporate Las Vegas casinos are closing their doors on ‘gambling’. Sure, they will take your sucker bets, but they are scaling back and ripping off customers like never before.
Sad Examples:
Venetian LOWERED odds on blackjack from 3-2, to 6-5. This FLEECES players. This is a $35 BILLION DOLLAR COMPANY who decided milking players for a 2% edge WAS NOT SUFFICIENT, they needed 4% – PER HAND!
Wynn ELIMINATED 3-5x odds behind the line in craps, only allowing 2x odds. The higher the bet behind the line, the better your overall win rate as its the ONLY fair bet in Las Vegas. 2x used to be the Las Vegas norm, but it went to 3-5x to give players less of a negative edge, no longer at Wynn.
Sports Sad Examples:
Caesars Palace GOT RID of NFL teasers for the AFC/NFC champ week a couple seasons back. Why? Because they were losing on them during that playoff. Tony, the local bookie pulls that move, not a BILLION DOLLAR COMPANY.
MGM uses 20 cent baseball lines. One reason to bet baseball is casinos usually entice players with dime lines, ie, both teams -105 in pick’em, not -110. NOT AT MGM! Looking to milk their fish/clients for the max, they charge TWICE the odds of their competitors.
Online sportsbooks are where its at
Pinnacle Sports will take a $20,000 wager from ANYBODY on a random NBA game. You CANNOT bet $5,000 on one at ANY Las Vegas casino unless you are a known whale who has dropped 5x that amount on BJ or craps.
Conclusion
For those who can bet online, open accounts and do so. IGNORE tweets/comments from Vegas as if they are ‘experts’ for they are mere marketing machines now. The brightest minds in the industry are focused where the real betting action is, and that’s online, not in Las Vegas anymore!
Last modified: March 18, 2023
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