where the losed money goes? - page 2.

Cantsay

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Quote from: cafter on March 07, 2023, 09:30:37 AM

i think many are losing in gambling and the casino sites are hugely profiting from us ,
do you think that is the case .

That is gambling and life for you. The more some are losing the more some are winning life's not always fair to those who truly needs to be treated fairly. And if you fell gambling is not always in your favour you can call it a quit it's never to late to leave gambling.

As for the money I'm sure it will go to the casino's bankroll and from it they'll pay whoever wins, I haven't really sat down to analyze or study how it goes but I do believe that the casino should be the one receiving the loser's wager. If I'm not correct I'll appreciate the correct answer.

Fortify

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Quote from: cafter on March 07, 2023, 09:30:37 AM

my question is ,
when we play gambling online in casino , we always bust our account , many new comers completely blow their account every time they deposit ,
the gambling site owner's earn money by the commission which it takes 1% or less on every bet made by user , when blowing accounts where all money goes, in casino's pocket or where ,
and the question that the losed money will go to other player's pocket who wins big but the winning players are very less,
i think many are losing in gambling and the casino sites are hugely profiting from us ,
do you think that is the case .

Where else would it go, except to the gambling company? They're not a charity funneling it to orphanages and animal shelters. When you place a bet, of any kind, at these casinos or bookmakers, you are challenging them that either your a) intelligence in predicting the outcome of an event is better than theirs. b) suggesting they have made a mispricing error on some odds or c) prepared to blindly gamble knowing the odds that apply in which case are statistically against you. There are no long term winning players at a casinos, except the infinitely rare ones that get unbelievably lucky and are probably not regular gamblers, who make a big payout and walk away. Extreme wins are probably less than 10 a year and you have better odds playing the lottery. People are naturally greedy and want shortcuts to riches, these gambling companies just satisfy that trait.

madnessteat

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The fact that casinos are very profitable business has long been known, but I do not think we can find somewhere accounting records of one of the casinos and understand how much and where the money is spent.

The most important thing that a person who was going to play gambling understood that playing in a casino, almost every gambler in the long run will lose their money (of course, if not crapshoot and leave the casino until all is not lost). The casino is an entertainment that requires money.

Casdinyard

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That has been the case since time immemorial, that's why casinos are a great business model if you wanna scam people out of their money but would also want to be absolved of the crime thereof by legalizing your business. Casinos heavily profit from the losses of people, be it live or online casino. And due to the fact that there are only few winners every time, this means that almost all of the losses incurred by all the players in their business automatically goes to their pockets. This is literally the reason why there's a saying "the house always wins". If the house loses money from a massive win, they can easily recuperate these losses without even trying because someone somewhere out there's hapless enough to tank the biggest loss of his life as well.

South Park

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Quote from: cafter on March 07, 2023, 09:30:37 AM

my question is ,
when we play gambling online in casino , we always bust our account , many new comers completely blow their account every time they deposit ,
the gambling site owner's earn money by the commission which it takes 1% or less on every bet made by user , when blowing accounts where all money goes, in casino's pocket or where ,
and the question that the losed money will go to other player's pocket who wins big but the winning players are very less,
i think many are losing in gambling and the casino sites are hugely profiting from us ,
do you think that is the case .

The money lost by gamblers go to a lot of places, part of that money is used to pay winning gamblers, taxes and licenses, bills, employees, marketing, increase their bankroll, bonuses and other stuff, only after all of that money is paid the casino owners earn any money, so while casinos are a very profitable business the competition and the costs are high, and many succumb to all that pressure and fail to make it big.

stomachgrowls

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Quote from: cafter on March 07, 2023, 09:30:37 AM

my question is ,
when we play gambling online in casino , we always bust our account , many new comers completely blow their account every time they deposit ,
the gambling site owner's earn money by the commission which it takes 1% or less on every bet made by user , when blowing accounts where all money goes, in casino's pocket or where ,
and the question that the losed money will go to other player's pocket who wins big but the winning players are very less,
i think many are losing in gambling and the casino sites are hugely profiting from us ,
do you think that is the case .

Exactly!

And this is why gambling business is really that profitable which aside from House edge on where they do make that money, they are also making money out of those lost bets and its true that when it comes on counting
on how many players are winning which is really very less which means that accumulation of those funds would really be that big which means that casino owners are the ones who do really benefit out.
Somehow, when a certain player do really make out some huge wins or hit up jackpots then this is where the site or company would really be that preparing on paying it up
without questions asked since its been a hit up and this is one of the risks.

uneng

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First of all, it's lost money, not losed. And this money is going to the hands of the casinos' owners who may add this to the platform's wallets, to pay employees' wages, to pay for marketing, games' providers or internal development. It's up to casinos' owners to decide what to do with the profit they make from gamblers. What we know is that they are going to use this money for the own good of the business and of the people behind it.

acroman08

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Quote from: cafter on March 07, 2023, 09:30:37 AM

i think many are losing in gambling and the casino sites are hugely profiting from us ,
do you think that is the case .

that is the whole point of a casino business, to get profit from people losing in gambling. casinos will do everything in their power to profit from gamblers, they even created promotions and bonuses to specifically attract gamblers again who have already lost a lot of money on their gambling site.

btc_angela

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Quote from: cafter on March 07, 2023, 09:30:37 AM

my question is ,
when we play gambling online in casino , we always bust our account , many new comers completely blow their account every time they deposit ,
the gambling site owner's earn money by the commission which it takes 1% or less on every bet made by user , when blowing accounts where all money goes, in casino's pocket or where ,
and the question that the losed money will go to other player's pocket who wins big but the winning players are very less,
i think many are losing in gambling and the casino sites are hugely profiting from us ,
do you think that is the case .

It's obvious that it will go the casinos at the end of the day, maybe there were few gamblers that are going to win big, but there are thousands that are going to lose even more.

So yes, it's a billion dollar because, whether it's offline and online, and fortunately for us we already knew this one.

But we keep on gambling because we are looking for that one big hit.

Davidvictorson

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Quote from: cafter on March 07, 2023, 09:30:37 AM

my question is ,
when we play gambling online in casino , we always bust our account , many new comers completely blow their account every time they deposit ,
the gambling site owner's earn money by the commission which it takes 1% or less on every bet made by user , when blowing accounts where all money goes, in casino's pocket or where ,
and the question that the losed money will go to other player's pocket who wins big but the winning players are very less,
i think many are losing in gambling and the casino sites are hugely profiting from us ,
do you think that is the case .

Lost money from losers goes to the winner. Lost money from losers goes to the investors and shareholders. Lost money from losers goes into paying taxes and renewal of gambling linences.Lost money from losers goes into buying more slot games from providers. Lost money goes from losers goes into paying people to write casino related articles in the online casinos. There's just so much that the lost money is used to achieve.

tabas

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Mate, the casinos are businesses and they make profit from everyone who gambles at their platform. You're right that they have a percentage and that's the house edge. Why you're more concerned about the gambler's losing money as they've chosen to gamble at any platform they wish freely? It doesn't make sense to think about it as there are only two results in gambling, winning and losing, even if there will be more gamblers to win. In the end, there will be more players that will lose and it shall cover the expense of those winning bets.

gunhell16

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Quote from: cafter on March 07, 2023, 09:30:37 AM

my question is ,
when we play gambling online in casino , we always bust our account , many new comers completely blow their account every time they deposit ,
the gambling site owner's earn money by the commission which it takes 1% or less on every bet made by user , when blowing accounts where all money goes, in casino's pocket or where ,
and the question that the losed money will go to other player's pocket who wins big but the winning players are very less,
i think many are losing in gambling and the casino sites are hugely profiting from us ,
do you think that is the case .

You almost answered your question dude hehe. Maybe what I can add is that apart from the majority of gamblers who always lose, it never happens in a casino that most gamblers win here.

So it's true what others say that winning in gambling always depends on luck and that's not what they call a technique, it's just a speculation that's all we have to be realistic. And with every bet we make, we will not lose the profit percentage of a casino for each of their players.

CryptoHeadlineNews

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Quote from: cafter on March 07, 2023, 09:30:37 AM

my question is ,
when we play gambling online in casino , we always bust our account , many new comers completely blow their account every time they deposit ,
the gambling site owner's earn money by the commission which it takes 1% or less on every bet made by user , when blowing accounts where all money goes, in casino's pocket or where

You just answered the question yourself, because if not in the casino's pocket where else do you think the money will go? Because one thing you just need to understand is that casino business is a very lucrative industry, of which if it wasn't you never would have seen any still in existence till date, because casinos are designed in such a way that they make most of the profits despite all odds. And it's typically logical that when a user bet and loss, its a profit to the casino, through which such casino uses it to repay any gambler who play and wins.

So in conclusion, whichever money you lost, its a profit to the casino

Eternad

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The losed money goes to the provider bank roll and they are using it to pay other players that winning. The slots have an RTP which means it return to the player the certain part of the profit it can get on all the lose money. Many players is losing but some player is winning big. The casino works like this and in case everyone is on bad luck, this money will goes to casino and game provider itself.

But it still depends on the contract between operator and the casino because some casino that they are paying wins by themselves and operator just cut a commission on a profit. Either way it will goes on their bankroll.

mu_enrico

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You need to read a casino financial statement to understand the profitability and stuff.
Example Q4 2022 MGM Vegas:

Edit: source for anyone interested in this stuff.

Here you can see several terms:
- Table games drop = wager on table games
- Table games win = casino (not player) wins
- Slots handle = wager on slots games
- Slots win = casino (not player) wins

As you can see the revenue is 23.9% for table games and 9.4% for slots games. Where's the rest of the money? Distributed for players' win.
So the house always wins and you'd be better playing slots :p

Keep in mind the revenue isn't a profit since the casino needs to pay bills.

Rruchi man

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Quote from: alastantiger on March 07, 2023, 11:34:37 AM

In every game there must be a winner and a looser. Someone has to loose for someone else to win. Thousands of people play gambling, the money some people loose in gambling goes to those that win in gambling and and some percentages of it also goes to the gamble site for its maintenance and running of the site. Whenever you gamble and loose, just know that someone somewhere has won. Reverse is the case anytime you win.

One man's loss is another man's gain, that is the simple summary of this.

When you win a huge amount with a small amount that you gambled with, you usually do not stop to wonder where all the money comes from, and at that moment know that you are not the only winner because the casino will have to pay the other winners with the money that some people have lost, In cases where there are more winners than losers, the casino may pay from their own pocket as part of the business to keep it running. In cases where there are more losers than winners, In addition to the commissions they get whether you win or loose, they make more money.

alastantiger

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Quote from: cafter on March 07, 2023, 09:30:37 AM

my question is ,
when we play gambling online in casino , we always bust our account , many new comers completely blow their account every time they deposit ,
the gambling site owner's earn money by the commission which it takes 1% or less on every bet made by user , when blowing accounts where all money goes, in casino's pocket or where ,
and the question that the losed money will go to other player's pocket who wins big but the winning players are very less,
i think many are losing in gambling and the casino sites are hugely profiting from us ,
do you think that is the case .

In every game there must be a winner and a looser. Someone has to loose for someone else to win. Thousands of people play gambling, the money some people loose in gambling goes to those that win in gambling and and some percentages of it also goes to the gamble site for its maintenance and running of the site. Whenever you gamble and loose, just know that someone somewhere has won. Reverse is the case anytime you win.

rhomelmabini

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Quote from: cafter on March 07, 2023, 09:30:37 AM

my question is ,
when we play gambling online in casino , we always bust our account , many new comers completely blow their account every time they deposit ,
the gambling site owner's earn money by the commission which it takes 1% or less on every bet made by user , when blowing accounts where all money goes, in casino's pocket or where ,
and the question that the losed money will go to other player's pocket who wins big but the winning players are very less,
i think many are losing in gambling and the casino sites are hugely profiting from us ,
do you think that is the case .

If it's playing against the house it will goes to the casino but against another player it will go to them then although the house always has commission for every hands played. They will always be in profit unless some external anomaly occurs to them 'cause that's the thing that makes them file for bankruptcy. We could say, people who losses their money pays to those who wins, but the house will have a piece on it.

Zlantann

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Quote from: cafter on March 07, 2023, 09:30:37 AM

my question is ,
when we play gambling online in casino , we always bust our account , many new comers completely blow their account every time they deposit ,
the gambling site owner's earn money by the commission which it takes 1% or less on every bet made by user , when blowing accounts where all money goes, in casino's pocket or where ,
and the question that the losed money will go to other player's pocket who wins big but the winning players are very less,
i think many are losing in gambling and the casino sites are hugely profiting from us ,
do you think that is the case .

Another question is who pays when gamblers win big. The same people that bears the burden when someone win big, is also the people that collects the funds when people loose. The gambling company have so much bills to pay before making profit. They pay their staff, tax, legal fee and other financial obligations, so they need people to lose so that they can make more money. They also have to buy new machines and upgrade thier security systems, maintain thier buildings or offices if they are offline or have physical offices. All these require money, but it is generally believed that casino owners and promoters makes huge profits.

mvdheuvel1983

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Quote from: cafter on March 07, 2023, 09:30:37 AM

my question is ,
when we play gambling online in casino , we always bust our account , many new comers completely blow their account every time they deposit ,
the gambling site owner's earn money by the commission which it takes 1% or less on every bet made by user , when blowing accounts where all money goes, in casino's pocket or where ,
and the question that the losed money will go to other player's pocket who wins big but the winning players are very less,
i think many are losing in gambling and the casino sites are hugely profiting from us ,
do you think that is the case .

I have thought of this question whenever I lose some amount of money to gambling. Funny right? But then the best thoughts that come to mind is that, casinos need money to run keep their business going, they need to pay staff or site managers, they need to maintain their machines, or equipment or carry out regular website maintenance.
What also comes to mind is that they would also use some of these monies to run adverts, promos, and campaigns. And not forgetting the most important, lost monies are used to pay winners.

Topic: where the losed money goes? - page 2. (Read 385 times)