Yes
No
Yes in new states
In theory, more casinos should mean competition and competition should mean better prices or product. Problem is, the casinos react to competition by making their “prices” worse to try to make up for reduced income from competition. The supply and demand construct has broken down in this industry.
"I don't think outside the box; I think of what I can do with the box." - Henri Matisse
More would be great. Where I'm from in Australia we have 1 casino. When I first started it was $10 min, all shoe games, S17, 3:2, DOA SPL3, OBBO. Now to get a shoe game you have to pay $50, it's H17, D9-11 and they cut 2-2.5 decks from 8.
Edit: In my state we have 1, not Australia wide.
Strictly from a public policy standpoint the people in general would be better off if the State just raised income and property taxes by the amount they need to get the same revenue as they'd expect from gaming taxes and keep casinos concentrated in the Desert, AC, or Indian Reservations (who have no real tax base otherwise). But because there are already casinos sucking cash across the border it seems to make perfect sense that a state that is losing money (say Texas to Oklahoma) would be smart to build their own casinos to keep their money in-state.
It would be best to separate gambling pricing from amenity pricing if you want to analyze this with economic theory. Because pricing of amenities (like food, entertainment, hotel rooms, etc.) do in fact follow the normal economic supply and demand construct.
When pricing gambling (ie, increasing the house edge in attempt to increase revenue), the decision makers are still taking advantage of normal economic construct. Most notably the concept of "Asymmetric Information." Meaning the casino has information that most patrons do not have. That is, most patrons do not have the knowledge of statistics and probability to properly gauge the price of gambling (the house edge). And more generally most patrons do not have the aptitude or interest in learning how to price gambling.
Another economic principle alive and well is that "People respond to incentives."
The casinos are taking advantage of gullible people who actually believe they could be "The One" who can get rich by gambling in a casino. They are falsely and successfully marketing their product in a way that incentivizes people to believe that mirage.
Last edited by alexost; 10-29-2015 at 07:05 PM.
Also in Australia - I can't get to our "high rollers" room in the one casino in the state where I live, have to fly to Syd - min $100 for a shoe game there. We should definitely have more casinos where I'm from, but it ain't gunna happen..Originally Posted by Koz84
No, not in the UK. We already have the situation where your common-or-garden highstreet bookmakers have morphed into mini electronic casinos and that, together with the accessibility available using a mobile (cellphone), means nobody needs to travel too far to play a casino game of chance. You can do it now without even having to get out of bed.
AP opportunities at blackjack are another matter - there're precious few of those in the UK now.
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More Yes votes compared to No votes. Noting casino closures it certain parts of the country over the last several years it seems like the industry has been shrinking on a brick and mortar basis, while online gaming seems to be a way to expand revenue while keeping costs down where it is legal.
Last edited by Blitzkrieg; 10-30-2015 at 01:47 AM.
I voted yes. For the AP, a significant influx of new casinos and especially new casino owners would mean a dilution of sharp PC's and surveillance, more opportunities from inexperienced dealers and a greater ability to spread play around with short sessions. That is something you just cannot do in a lot of places today.
From a public policy standpoint I also voted yes. But then again I am a Libertarian and don't believe that the government should spend time and resources protecting people from themselves.
I agree Metronome!! Bring it on Texas. I go all the time into WinStar and say "Hey is this Vegas style Blackjack?" and of course they say yes! I buy in for $1000 and put $100 in the betting circle and THEN They say oh You have to put 50 cents in the ante circle. I say WTF You told Me this was Vegas style blackjack and walk $1000 in green to the cage, I won't let them color Me up just to piss them off.
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