| Is there any wonder? During the month of June the 9,704 electronic gaming devices in place at the nine active Illinois casino properties generated adjusted gross receipts of $125,232,880, dwarfing the $22,058,975 held at the state's 292 gaming tables. Since state-sanctioned casino gambling came to Illinois a little over a decade ago, table games have dwindled noticeably while slot inventories continue to grow. It's a no-brainer for the casino owners and operators. People love the lure of chasing jackpots, even though the odds of catching a big one can be in the hundreds of thousands to one or higher against you. The casinos make money off the table games to be sure. As a matter of fact, the average "hold" on all of the games is appreciably higher than the slots. During the month of June, Illinois casinos held 13.95 percent at the 176 blackjack tables, 19.98 percent at the 34 craps tables, 27.31 percent at the 23 roulette tables, 21.74 percent at the two grand baccarat tables, 17.67 percent at the nine mini-baccarat tables, 22.52 percent at the three Let It Ride tables, 25.28 percent at the 20 Caribbean Stud Poker tables, 15.06 percent at the 14 Three Card Poker tables, and 31.26 percent at the three Pai Gow Poker tables. Of all the above table games, only blackjack requires skill to play correctly and reduce the house edge as low as possible. All of the other games have a built-in house advantage that guarantees a profit from players as a collective group. The difference between the revenues generated by slots as opposed to table games is sheer volume. So much more money is wagered on the slots more frequently and at such a greater pace that they are bound to be the main bread winners. As you read this, slot machine manufacturers from around the globe are preparing to meet in Las Vegas later this month for a gaming convention to introduce all of the new models, designs, and technology geared toward separating you from your money. Are you prepared to fight? The entertainment value and interactive features of the new wave of slot machines are truly remarkable. They're fun to play, but as we observed in last week's column, they have an addictive quality to them that requires players to be on guard when it comes to fully enjoying their recreational casino outings. In order to protect yourself against slot fever, it's a good idea to familiarize yourself with the table game options available at the casinos. Table games are played at a much more comfortable pace, giving both you and your money a rest. Learning to play them can enhance your casino experience so that you don't become a slave to the slots.Video poker has been described by some groups that oppose games of chance as the "crack cocaine of gambling". I've never agreed with the analogy, although I suppose it derives from the addictive nature the game can have on some people who become obsessed with its perception as being "beatable" with skillful play. If any genre of electronic gaming device deserves to be compared with a narcotic, it would have to be nickel multi-line video slots, which can at worst be characterized as the "ecstasy of gambling". The insidious nature of the games is multi-fold: They come in a wide variety of game formats that are attractive to the senses and to the nostalgic inclinations of "baby boomers". They can cast a hypnotic spell on people who are lulled into thinking they are playing an entertaining game rather than gambling. They add an exciting interactive dimension that traditional reel slots never had. Nickel multi-line video slots are huge money makers for the casinos. During the month of June, the 2,646 units in place at Illinois casino destinations produced adjusted gross receipts of $31.5 million, almost as much as the $33.6 million that the 3,043 quarter units generated. The percentage "hold" that casinos impose on nickel slots dwarfs that of other slot games. During the month of June, Argosy's Empress Casino Joliet held 11.79 percent of the play on its 347 nickels. Harrah's Joliet held 12.68 percent on its 239 nickel slots. Hollywood Aurora held 12.66 percent on its 305 games. Elgin's Grand Victoria held 14.32 percent on 94 machines. Compare those figures to the same holds on dollar machines during the same month: 5.84 percent on 350 units at Argosy's Empress; 5.32 percent on 375 machines at Harrah's Joliet; 5.31 percent on 385 machines at Aurora; and 4.82 percent on 428 dollar machines at Elgin. Nickel slots, because of the unit of currency required to play them, are perceived by the gambling public as "affordable". Gambling neophytes and players on strict budgets are attracted to them, only to discover that they're not the one-coin-at-a-time mechanical antiques of yesteryear but rather computer-charged monsters with voracious appetites for nickels nine, 18, 27, 35, 45, 90 and even more at a time. |
Tiger 1 home enter1 enter2 enter3 enter4 enter5 enter6 enter7 Tiger 2 Tiger 3 Casino and other Advertisers |
||