Gamblers lost $12.7 Billion in FY07 in Nevada

[El Diablo]

http://www.kolotv.com/home/headlines/9089381.html

Wagered: $170 billion
Lost: $12.74 billion

Slots: $8.34 billion
Blackjack: $1.4 billion
Baccarat: $900.4 million
Craps: $471.8 million
Sports betting: $175.7 million
Poker: $170 million

[XXXNoahXXX]

[ QUOTE ]
http://www.kolotv.com/home/headlines/9089381.html

Wagered: $170 billion
Lost: $12.74 billion

Slots: $8.34 billion
Blackjack: $1.4 billion
Baccarat: $900.4 million
Craps: $471.8 million
Sports betting: $175.7 million
Poker: $170 million

[/ QUOTE ]

Any idea how they calculate the poker?

Is that $170M in rake and tourney fees?

[amplify]

but enough about Vinnie Vinh

[iron81]

[ QUOTE ]
Sports betting: $175.7 million
Poker: $170 million

[/ QUOTE ]
Thinking about whether casinos will continue to keep poker rooms open, how profitable are poker rooms compared to sports books? We see that the revenue is about the same, but what about expenses? I believe that sports books have a much more established history in casinos than poker rooms, so if poker can produce a similar profit to sports books, we shouldn't see a mass closing of poker rooms in vegas.

I'm pretty sure the breakdown is by revenue generated, which for poker means rake. The sum of the different games is about equal to the total revenue figure of 12 billion.

[El Diablo]

XXX,

Yeah, I'd assume that number is rake/fees from poker (you can prob find more detailed info at gaming.nv.gov).

[El Diablo]

iron,

Note that the figures do not include things like Keno and all the random table games, which probably account for most of the missing $$$.

[felson]

[ QUOTE ]
http://www.kolotv.com/home/headlines/9089381.html

Wagered: $170 billion
Lost: $12.74 billion

Slots: $8.34 billion
Blackjack: $1.4 billion
Baccarat: $900.4 million
Craps: $471.8 million
Sports betting: $175.7 million
Poker: $170 million

[/ QUOTE ]

12.74 B/ 17 B = 7.5% house edge. The article says that $8.3 B came from slots and $4.2 B from table games. The house edge for table games is ~2.5%, so the edge on slots must be around 10%.

[cbloom]

[ QUOTE ]

Thinking about whether casinos will continue to keep poker rooms open, how profitable are poker rooms compared to sports books? We see that the revenue is about the same, but what about expenses?

[/ QUOTE ]

Poker is just about the least profitable thing in a casino in terms of the floor space used, all the personnel and salaries. The main reason behind running poker these days is to get people in to stay and play the pit.

[Boris]

The small number for sports betting surprised me. I guess local bookies get most of the action.

[jackflashdrive]

[ QUOTE ]
[ QUOTE ]
http://www.kolotv.com/home/headlines/9089381.html

Wagered: $170 billion
Lost: $12.74 billion

Slots: $8.34 billion
Blackjack: $1.4 billion
Baccarat: $900.4 million
Craps: $471.8 million
Sports betting: $175.7 million
Poker: $170 million

[/ QUOTE ]

12.74 B/ 17 B = 7.5% house edge. The article says that $8.3 B came from slots and $4.2 B from table games. The house edge for table games is ~2.5%, so the edge on slots must be around 10%.

[/ QUOTE ]

That's why the intelligent gambler plays the $100 slots, where the house edge shrinks to 3%.