Gambling tourism has been around for a long time, with the likes of Las Vegas and Macau acting a base for peoples’ secret desires – to place wagers on casino floors. At one point, 90% of Vegas’ revenues came from betting alone, which highlights the popularity of the pastime. Today, https://www.statista.com/statistics/1083255/monthly-sports-betting points out that it’s around the $100 million marks.
However, the industry is further boosting its bottom line as more destinations take on the mantle. For instance, London is notorious for being a region that provides an experience that encourages tourists to visit England’s capital. The question is, how do they do it?
The Resort Experience
Back in the day, gambling was the main attraction in places such as Las Vegas. After all, there weren’t many other places where punters could get a similar experience. It’s different today due to the introduction of gaming technology. With AR, VR, and live casino games, most players can participate from their homes and receive the same experience.
Mobile casinos have only made it easier to stay indoors and gamble, rather than getting dressed to place bets. This is especially true now that the bonuses and promotions are just as good, if not better than on the casino floors. As https://bonusfinder.com/uk/online-casinos/mobile-casino/ reports, a single deposit often results in cashback, free money, or free spins.
Resorts have had to change with the times to adapt. A prime example is the Wynn in Las Vegas. Currently, nearly 40% of its income is from its restaurants, not the casino. Other establishments, on the other hand, are happy to provide free drinks and food, as well as quality hotel rooms. All of this enhances the experience, making visitors feel special and giving them a reason to visit in the first place.
Minty Fresh Reciprocity
Casinos are great at using cues to get people to spend more. Reciprocity is an excellent example as it’s something you’ve been subject to before. Have you ever received a mint with a bill? If you have, that’s reciprocity in action.
Although it doesn’t sound very effective, https://blog.hubspot.com/marketing/psychology-marketers-revealing-principles sources research that diners who don’t get a mint won’t tip as much. One to two minutes can result in customers spending anywhere between 3.3% and 20% extra. Casinos understand this better than anyone.
As a result, not only do you have chips instead of cash – they seem less valuable than paper money – but your wins are celebrated as if they are huge when in reality, they are small. Combine these factors with the bonuses on offer and it’s easy to see why punters are happy to return the gesture.
The House Edge
The house always wins, which is helpful considering that casinos don’t like to pay out very often. The reason they win is the house edge, the percentage players have of taking on casinos and winning. At its highest, it’s anywhere between 15% and 25%. At its lowest, it can be 1%.
However, even 1% is a significant sum when you consider the numbers involved. That’s why https://www.businessinsider.com/how-casinos-make-you-spend reported in 2013 that 23 Vegas casinos ended up with over $5 billion of their visitors’ money, which equated to $630,000 per day.
Gambling tourism is doing well because casinos have tweaked their services to match peoples’ needs, indulge in psychological marketing, and always have the edge when players place wagers.
Northern girl Laura is the epitome of a true entrepreneur. Laura’s spirit for adventure and passion for people blaze through House of Coco. She founded House of Coco in 2014 and has grown it in to an internationally recognised brand whilst having a lot of fun along the way. Travel is in her DNA and she is a true visionary and a global citizen.