Before you can play at a casino, you must know how to calculate the house edge. The house edge is the percentage of a casino’s profit that it makes when you play certain games. It also indicates how much of the casino’s cash reserves are left over after the winnings are accounted for. To calculate these numbers, the casino hires computer programmers and mathematicians, known as gaming analysts. Since most casinos do not have in-house experts, they outsource the work to experts in this field.
The house edge is the difference between the house’s advantage and the player’s. The lowest house edge games produce a profit of 1% or 2%, while the highest house edge games earn fifteen to twenty-five percent. The casino makes money by collecting a commission called rake from players. It is important to understand the house edge when playing a casino game, because it affects the size of the payouts. This percentage can make a huge difference in your bottom line.
Another way to increase your bottom line is to offer non-gambling attractions. Even high-rollers have different preferences. So, instead of simply offering the same old games to everyone, offer a live show or a buffet, or create a loyalty program. These non-gaming attractions are an essential part of a casino’s marketing strategy and help keep players on the property for longer. Casino marketers know this and have developed several marketing techniques that help them achieve this.