High rollers in the casino world


High rollers in the casino world

A whale in the casino world is a high roller. A high roller is a gambler who wagers with large amounts of money. High rollers receive “gifts” or “comps” from various casinos because of the amount of money that they wager and spend while at these casinos. These gifts can be awesome suites that come with fully stocked mini-bars, complimentary limousines to use while in town, to a free flight on a private jet. High rollers even enjoy the advantages of being a high roller such as extended credit and rebates on losses or turnovers. Most casino employees will receive monetary incentives for bringing in high rollers.

A whale (high roller) will gamble between $50,000 to $300,000 and sometimes $500,000+ if the casino has the financial backing, depending on the casino and the rules and regulations of the casino and the state in which it resides. Each casino will have its own set of rules for high rollers, and will allow them leeway on certain rules.

However, did you know that a high roller does not actually generate the most amount of money for a casino? The average middle class gamblers generate most of the casino’s revenue. Did you know that slot machines bring in the most revenue to casinos? At least 30% of the casino’s income comes from slot machines.

Many casinos have been known to cater to high rollers because they will help draw in more business from other high rollers to their casinos. Once the word gets around that there is a high roller in town playing at the local casino, high stakes gamblers 9 times out of 10 will be interested in checking the game out.

Remember this is a gamble for the casino. If the high roller wins, the casino suffers a huge loss, and if the high roller loses, the casino has the potential of winning a large sum of money. For instance, if a casino comps a suite to the high roller for the weekend but the “house” wins; this means the casino was only out the price of the stay and not a huge loss of funds.

One of gambling’s highest rollers was Kerry Packer, an Australian billionaire businessman who passed away on the 26th of December, 2005. Mr. Packer was the subject of many news headlines around the world thanks to some of the gambling stories that became public knowledge. It is said that Mr. Packer once lost $20 million in one sitting at the Bellagio casino in Las Vegas in 2000. He also reportedly lost £11 million during a 3 week baccarat binge at Crockfords casino in London. But Mr. Packer also had his share of wins. In 1997, Mr. Packer won around $26 million during 3 days of game play at the MGM Grand in Las Vegas. Mr. Packer’s win sunk the casino’s quarterly profits and a number of casino executives lost their jobs.

Mr. Packer was also a very generous tipper, tipping some dealers $100,000+ and even going as far as buying a house for one of the dealers when she explained that she couldn’t be home with her family because she had a mortgage to pay.

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